When should I start sorting the money side of having a baby?

As early as you can, ideally in the first trimester. Maternity pay eligibility looks at your employment 15 weeks before the due date, childcare waiting lists run months long, and budget changes are easier to phase in than to crash into.

Is statutory maternity pay enough to live on?

For most households, not on its own. After the first six weeks at 90% of earnings it drops to a flat statutory rate, which is usually far below a full salary. That is why the budget and buffer steps matter before the leave starts.

Do both parents get paid leave?

Statutory paternity pay covers up to two weeks at the statutory rate, and Shared Parental Leave can split the longer leave between parents. Employer schemes often add more, so check both contracts.

Money moment · 6 steps · all free

Having a baby

What parental leave actually pays, what childcare actually costs, and the cover and buffer that let you enjoy the year instead of fearing it.

1
Know your leave income
Statutory maternity pay drops hard after six weeks. See your month-by-month income through leave, including any employer top-up, so the lean months never surprise you.
Maternity and paternity pay calculator →
2
Rebuild the budget around leave pay
Run the household numbers on the leave income, not the old one. Knowing the gap months in advance turns panic into a plan.
Budget planner →
3
Price childcare before you need it
Nursery can rival the mortgage. Check your real monthly bill after free hours and Tax-Free Childcare, and put your name down early.
Childcare cost calculator →
4
Put a floor under the family
Someone depends on your income now. Work out how much life cover would actually clear the debts and replace your income while the kids grow up.
Life insurance needs calculator →
5
Pad the buffer
Babies generate surprises; a bigger emergency fund absorbs them. Aim a month or two higher than your pre-baby target.
Emergency fund calculator →
6
Reset the split
The 50/30/20 rule bends with a child in the house. See where it breaks and how to adapt it honestly.
Does the 50/30/20 rule work in the UK? →

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Common questions

When should I start sorting the money side of having a baby?: As early as you can, ideally in the first trimester. Maternity pay eligibility looks at your employment 15 weeks before the due date, childcare waiting lists run months long, and budget changes are easier to phase in than to crash into.
Is statutory maternity pay enough to live on?: For most households, not on its own. After the first six weeks at 90% of earnings it drops to a flat statutory rate, which is usually far below a full salary. That is why the budget and buffer steps matter before the leave starts.
Do both parents get paid leave?: Statutory paternity pay covers up to two weeks at the statutory rate, and Shared Parental Leave can split the longer leave between parents. Employer schemes often add more, so check both contracts.

More moments: Buying your first home · New job or pay rise · Made redundant · All journeys

Having a baby

Know your leave income

Rebuild the budget around leave pay

Price childcare before you need it

Put a floor under the family

Pad the buffer

Reset the split

Common questions