New mums revise maternity leave plans to cover costs

The government is being urged to help families better cope financially with parenthood, following news that one in ten ‘mumpreneurs’ cut their maternity leave short to ease financial pressures, news.sky.com reports.

A poll of 1,000 new mums by comparison site, uSwitch, found that while a quarter of women were ‘financially prepared for motherhood’, 11 per cent of respondents had felt compelled to reconsider their original plans to stay at home.

Naturally, income drops when a mother takes maternity leave. The average net household income, according to the survey, dropped from £2,866 per month to £1,654 during this life event. 

Ann Robinson, uSwitch director of consumer policy, believes that the government should find ways to prevent new mums having to use overdrafts or reluctantly return to work “just to make ends meet”. She suggests that reviewing household budgets to locate ways in which costs can be slashed could be a way to help in the short term.

Mums that find themselves in a tight financial situation don’t have to return to their previous role, they could consider freelance work or franchise opportunities, enabling them to be their own boss and set their own hours.

“Planning for a baby is tough at the best of times, but in the face of the soaring cost of living there is even more pressure on family finances,” said Ms Robinson to freshbusinessthinking.com.

“It’s clear that more needs to be done by the government to help families cope with the financial burden of parenthood.”

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.