Having a baby: the money side
Lesson 9 of 12 in our free Life Events guide: a 5-minute money game with the key points below.
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Questions you'll answer
Statutory Maternity Pay starts with 6 weeks at 90% of average weekly earnings. Mo's sister earns £500 a week on average. What's her weekly SMP for those first 6 weeks?
Mo's sister and her partner aren't married and live together. Which is the smart extra step?
Quick facts
- Up to 39 weeks of Statutory Maternity Pay → Maternity. For eligible employees giving birth.
- Statutory Paternity Pay → Paternity / partner. For eligible partners. Shared Parental Pay is another option.
- Child Benefit (£27.05/week for the first child) → Every eligible family. Most families can claim, and claiming protects NI credits for a non-working parent.
- Accepting second-hand clothes from friends → Smart. Babies outgrow clothes in weeks. Hand-me-downs are elite.
- Buying the most expensive pram because the influencer said so → Dex-tier. De-influence it. Safety standards matter; the price tag doesn't.
- Checking your employer's maternity/paternity policy early → Smart. Some employers top up statutory pay. Know before you plan.
- Claiming Child Benefit as soon as the baby's registered → Smart. Payments can only be backdated a limited time. Claim promptly.