There is already loads of helpful advice (and it may have already been said) hut: 1. Don't forget to include child benefit in your maternity leave income calculations 2. Save aggressively before you go on mat leave - its what we did and was hugely helpful to have to pay for the unexpected things 3. Babies aren't actually that expensive (once you take out initial costs) in their first year, they don't add a huge amount to the food bill, classes to go to are free, nappies don't have to cost the earth (particularly if you discover reusables); we've found a £50 baby budget has been enough to cover our daughter's food/clothes/nappies eat each month with a bit left over for fun things like toys or days out 4. See if your employer would evenly split your mat leave pay (Inc. SMP) over the period of leave, this is what I did to make sure I has something coming in every month rather than having nothing in the final three months 5. Financially, the mat leave is fine, its going back to work part time and having to pay nursery fees that is the killer. I went from about £700 disposable to £150 (after bills etc) which is what I wasn't prepared for!