Your new baby is the love of your life. But alas, your (rapidly emptying) bank account isn’t. So we’ve enlisted expert advice to help you cope with your dwindling income.
Of course, if you qualify for some financial support like Statutory Maternity Pay or Maternity Allowance it’s a Godsend. But, unfortunately, your income will be substantially less despite the fact you have an extra mouth to feed and the same bills to pay. This means your lifestyle can become as tight and uncomfortable as a pair of size-too-small Spanx.
But there are some easy ways you can save yourself loads of money to make life easier with a reduced income. Dan Plant from MoneySuperMarket gives us some tips and tricks to help you budget better, shop smarter and save money.
7 clever ways to survive on maternity pay:
3) Lower gas/electricity bills
There are loads of comparison websites that will help you find the cheapest rates. And some providers will even pay you a reward for switching to them. Dan advises also registering with Cheap Energy Club
(set up by MoneySavingExpert) as this remembers your current tariff and when cheaper ones are launched you’ll be notified. ‘It’s great if you’re time poor,’ he says.
6) Bargains on baby essentials
Check out mySupermarket
– it’ll tell you which places have offers (and if you can’t get to the store in person, you can order online). ‘Boots
also have great offers and parenting clubs which offer discounts, as do Tesco
, and Early Learning Centre
to name a few,’ he adds.
He also suggests looking at Amazon Family
– it costs £49 to be a member but you get a free three-month trial and £10 off if you spend £50 or more. ‘You can join, use the discount, then end your membership (if you want to) before the free trial ends.’
Tesco Club Card
7) Loyalty schemes
is the most popular loyalty scheme in the country. But Dan says the big mistake people make is spending their vouchers on food shopping only. ‘You can boost the value of your points – for instance, if you buy theme park tickets using your Tesco Club Card, you can get three or four times the value of the points you would if you use your card for just food.
'They’ve now got a permanent new offer called Boost With Tesco – on departments such as baby and toddler, clothing and cookware – where you earn double the points.’
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