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Are you starting to think about how much money you need to save for maternity leave in 2023 in the UK? If you need to figure out exactly how much money to save for your maternity leave even with statutory maternity pay - hopefully this is a helpful video for you!
Statutory Maternity Pay (SMP) is paid for up to 39 weeks. (9 months!) You get:
90% of your average weekly earnings (before tax) for the first 6 weeks
£172.48 or 90% of your average weekly earnings (whichever is lower) for the next 33 weeks
SMP is paid in the same way as your wages (for example monthly or weekly). Tax and National Insurance will be deducted.
My Etsy Spreadsheet: www.etsy.com/uk/listing/13724...
Mortgage Free Leigh - mortgagefreelei...
00:00 - intro
01:39 - incomings and outgoings
03:31 - what does your work offer?
05:39 - how long do you want to take mat leave?
07:56 - how much to top up statutory mat pay per month
08:24 - total you need to save for mat leave
12:16 - how much have I saved?
15:03 - you’ll be fine!
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