How to skive off work for longer (when you have a baby)
We would never presume that every woman, because she's happened to give birth, would want to devote each waking second to her, very new and very adorable, offspring. In fact some of us don't even get the luxury to decide. But if you get the option, and you want to do 'right' by your bundle of newborn fun, then here's some tips on how to stretch out the cash, from economising mummy, and new author, Becky Goddard Hill.
Affording more time off with your baby depends a lot on your attitude, your resourcefulness and your creativity. Here are some simple but effective ways to ease the finances when a new baby is on board:
1. Don’t be too proud
- Do Accept hand-me-downs and pass on your stuff too. It may sound obvious but if you share you will be shared with and if you don’t you probably won’t!
- Buy second-hand wherever you can (check out ebay, charity shops in rich areas and NCT nearly new sales.) hairty shops in posh areas always provide posher clothes. Worth a bus ride to the better part of town!
- Tell family and friends money will be tight. They will understand why you are less able to keep up and they may even offer support. They will also expect less at birthdays and probably give more. This can only be a good thing.
2. Create more revenue
- Consider taking a six-month mortgage break or even remortagaging. It is well worth talking it over with your lender. We did this and saved over £3000 which really helped financially towards my time off. The lender just added the missed payments to the end of our mortgage life and we sorted it all out in one phone call.
- Think about cashing in your savings. It may sound scary but honestly your baby is your perfect rainy-day reason and you will never regret time spent with them.
- Do do do make sure you get all the benefits you are entitled to (See www.direct.gov.uk) I have a friend who missed out on 3k worth of maternity allowance because she didn’t know about it and so hadn’t paid her very minimal national insurance contributions. Another friend missed her first few months of child tax credits because she thought she earned too much. Check online or give the benefits office a call and they will help you work it out. You may be very pleasantly surprised.
- Consider family-friendly working such as mystery shopping, online surveys, or buying a franchise designed for full-time parents. I bought into a baby signing franchise with Tinytalk (www.tinytalk.co.uk) and I earned £100 a week profit for just half a days work. …and I could take my baby along. Whilst I taught other babies to sign. Perfect. I made loads of new mummy and baby friends too and it was loads of fun..
3. Be resourceful
- Breastfeeding and re-usable nappies are significantly cheaper options than formula and disposables. Do give them a really good try. Formula costs around £300 per annum ( BBC online, 2008) and disposable nappies cost about £360 per annum (my reckoning.) Around £700 saved in your first year alone is a huge boost if money is tight.
- Do try and walk wherever you can too and leave your car at home. Fresh air and exercise are good for your health, babies health and of course your pocket.
- Be brave and head on out to your local parent and baby groups. For £1 you both get to make friends have a drink and socialise. These are FAR cheaper than baby activity classes and can be a lot more relaxing for your baby. If they seem a bit clique just stay behind and help tidy up once or twice and you will soon be very popular!
- Skill share. If you have skill such as hairdressing exchange it with a friend who can fix washing machines (but don’t ever pretend you can do either of these things you WILL lose a friendship). Build a community around you that is self-sufficient and supportive (It can massively reduce expenditure!).
Good luck and go for it ….these are precious days. ‘
Becky’s book How to Afford Time Off with Your Baby can be ordered now from Amazon and all leading book retailers. Becky also blogs about baby budgeting at www.babybudgeting.co.uk
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