Mummy’s Money #3 – Meet MummyManagingMoney

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drop in income

Mummy’s Money discusses how different mums managed their drop in income. You can find the other posts in the series here.

This week on Mummy’s Money, we’re chatting to the lovely @mummymanagingmoney. Follow her on Instagram where she shares her debt free journey – she only started this year and has paid off an incredible amount of debt already!

1.Introduce Yourself
Hello! I’m the Mama behind @mummymanagingmoney!! I live in central Scotland; have a husband; 1 bio baby & 2 bonus kids; and a menagerie of animals! I’m 29; a shopaholic & a complete Christmas nerd!

2.How long after baby was born, did you return to work (if you did)?
I will be going back to work in October just before my wee one is 9 months old.

3.Did you change/reduce your hours?
I am on a trial to see how me working my 37.5 hours over 4 days rather than 5 pans out. Fingers crossed as this will save me 2 days a month in childcare fees!!

4.How did you prepare financially (if you did) for maternity leave?
Honestly, I don’t feel that I did really. I was quite lucky in that I knew I wouldn’t be on just statutory maternity pay, my employer pays occupational to those who’ve been there more than a year. I suppose the biggest thing I did was buying in lots of baby clothes in sizes from newborn right up to 12 months. I wasn’t sure what my maternity pay was going to be like so I spent a lot of time searching for bundles of secondhand baby clothes in varying sizes so that I didn’t have to stress about finding money every few months for clothes.

5.What was your biggest waste of money, baby related purchase?
Ewan the Dream Sheep
He was cute, and she loves white noise, but the batteries just died so quickly, and we found a 10 hour loop on youtube which we just leave on a phone or ipad! {we did this too! We bought a slumber buddy which was great for the lights but she cried when the music came on! A 10 hour Shhh video on youtube did the trick instead – Katie}

6.Did you struggle with the drop in income?
I thought we would, but we’ve actually managed, including making some overpayments to debt!

7.What did you do to manage the drop in income?
I paused my pension with work to save a little money; and we’ve tried our hand at meal planning to save food waste. I also spent a lot of time ebaying some house clutter & the wee one’s clothes as she’s grown out of them. My husband was also able to pick up a few overtime shifts each month & I’m very lucky that when we had quite a big expense for our car, that my Dad gave us a loan so we didn’t take out more credit.

8.What would you/did you do differently, second time around?
If I’m lucky enough to get to do this again, financially I think I’d try and save a little each month as soon as I found out just to allow a bit of room for manoeuvre if something cropped up.

9.Any advice for mums to be?
Let people help. If someone offers to watch the wee one, use the time to sleep or do something for you.

10.And finally, what is your favourite money saving tip? (doesn’t have to be baby related)
I like to buy for Christmas and birthdays throughout the year in the sales! I managed to get all my Christmas wrapping 70% off in the Poundworld Closing down sale, and bits for a halloween party for just £2.78 in their closing down sale!

drop in income

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Hi! I'm Katie

I started Katie Saves while on Maternity Leave to document our adjustment to living on less. Now back in work - I blog about all things money with a little life organisation thrown in for good measure. Join me!