Most households ‘rely on two incomes’
The choice available to modern day mothers of being stay-at-home mums is increasingly becoming an unaffordable luxury. Research carried out by uSwitch.com reveals the financial pressures of modern day living that sees most households rely on two incomes, is resulting in more than one in ten mums being forced to reduce their maternity leave and return to work early, with some women having to completely reconsider their plans of being stay at home mums.
The uSwitch.com study not only highlighted the threatened choice of being a stay at home mum, but also that those who do return to work believe that their earning capacity and career progression have been hindered by having a baby.
Ann Robinson, Director of Consumer Policy at uSwitch.com said: “At a time when women face the biggest squeeze on employment, new mums are being forced to return to the workplace because of financial pressures…Unfortunately many new mothers are paying the price for this by seeing their choices taken away by the financial realities of modern life.”
What’s more a survey from Workingmums.co.uk found over half of working mums struggle with holiday and after-school arrangements. In the last general election the subject of childcare featured prominently, but most of the focus was on early years childcare. Workingmum’s poll of more than 2,000 mums shows childcare for school-aged children is a problem for 57 per cent.
Half say the government’s focus on increasing free childcare for three and four year olds and its tax-free childcare initiative, by which families where both parents work will be able to claim back up to 20 per cent of childcare costs up to a maximum of £2,000 a year for each child under 12, will not help them. Some workplaces offer childcare vouchers to help new mums get back to work, so advice offered to new mums and families is preparation and planning. Being aware of your company’s parenting package and allowances is crucial as the cost of a new baby continues once maternity pay has ended.
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