helping you save cash

Paternity For Self Employed

I’m self employed.

We’re expecting our third baby.

See where I’m going with this?

Let me break it down: only employees with employment contracts are entitled to statutory paternity pay, but there is no equivalent for self-employed dads to claim.

So, we have to plan ahead.

Fortunately I’ve never know anything different. I’m been self employed since before we had our first child so I have never known ‘actual’ paternity leave.

Planning ahead means getting ahead with work to be able to have time off, whilst still having money rolling in, for me anyway, as I can schedule my work to publish at a later date. For others it might not be so simple. You might have to actually book time off and if that is the case, you need to put a bit of cash away prior to this. Let’s take a plumber for example. You actually have to be onsite at someones property or business sorting out pipes and such in order to be able to invoice for your work. So you’ve scheduled 2 weeks off to be there to enjoy your newborn and also support your wife. Put 10% off your wages away for a few months before this, into a separate account so you have cash to live on, to buy nappies with and to fill the freezer with food too!

Make sure you plan ahead. Kids are only kids once and you’ll regret it if you don’t have some time with them whilst they are little!

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