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Heading back to work after having a baby


Heading back to work after having a baby

Are you stepping back into the workplace (remotely or otherwise!) after parental leave? We look at how to set up and maximise your back-to-work budget.

Whether you’re a bit nervous or secretly buzzing about heading back to work, it’s a nice feeling knowing that some extra cash will be coming your way. But have you thought about ways to make the most of your increased household income? Here are six tips to get you thinking about how to set up and maintain a budget for a healthier bank balance.

1. New income, who dis?

Got your spreadsheet ready? A change in cash flow calls for a new budget. Start with your new income (including your partner’s) and side hustles – anything that brings in the money. Then figure out all your non-negotiable costs like bills and rent or home loan repayments. Finally, you’ll need to keep a tally of other expenses like food, transport, entertainment and how much you want to save each month. Not sure how to manage it all? We’ve found a budgeting method that could work for you.

2. Put a magnifier over your spending

Now take a closer look at how you spend your money. Worried? Don’t be! This is more about keeping your eyes open for any spending you might be able to cut back on. Do you keep falling asleep five minutes into that new series or movie? Maybe it’s time to cull the subscription services for a little while.

3. Make those savings count

While you’re busy budgeting (and managing that work-life balance), let a higher-interest savings account nurture your growing nest egg. Combining our USave savings account with a USpend transaction account lets you unlock our bonus interest rate*, so your savings can work harder and grow faster.

4. Think ahead

There’s always going to be milestone events, like saving for a home, paying for your kids’ education or upgrading the family car that you might want to get a head start on. Creating different savings accounts for each goal and setting up automatic transfers for each one on payday could help keep you on track.

Pro tip: You can have up to 10 individually nicknamed USave accounts, like New Car or School Fees and earn the bonus interest rate* across them all!

5. Be flexible and kind to yourself

Heading back to the workplace when you’ve got a little one at home can be tough. That’s why you’ve got to factor some treat yo self moments into your back-to-work budget. Whether it’s a self-care spa treatment or a day out with the fam creating special memories, enjoying life’s little luxuries can help make the craziness of the family and work juggle a bit more manageable.

Pro tip:
Free2Spend is our awesome in-app tool that helps keeps your savings on track by showing you how much you can spend each day while still hitting your goals. Perfect for when there’s no way anything but Friday night takeaway will do.

6. Make room for new savings

As your kids get older, there’s always going to be new things you have to find cash for. From health insurance to Saturday sports and learning new languages, being a parent can add up. So, once you hit one particular savings goal, think about what you can replace it with to make your awesome new savings habit part of your ongoing approach to budgeting.

Your mini-me probably already thinks you’re a super hero. And by following these steps, you can make your hard-earned money work that much harder for you and your family, which is a pretty great super power to have in your arsenal.

If you’re looking for child care options, could be a useful starting point.


Before making a decision to acquire USpend or USave, you should obtain and consider the Terms and Conditions available at USpend and USave is issued by UBank, a division of National Australia Bank Limited ABN 12 004 044 937 AFSL 230686.

*To qualify for the bonus variable interest rate on eligible amounts in your USave account(s) in a calendar month, you must have both a USave and USpend account and deposit $200 or more into your USpend transaction account or your linked USave savings account from non-UBank accounts during the same month. The bonus variable interest rate will be applied to a combined balance of up to $250,000 held in your USave account(s), including joint accounts. Any remaining balance greater than $250,000 will earn the USave base variable rate. Bonus interest is earned the same month you meet the bonus interest criteria and paid by the first day of the following month.

The information contained in this article is of a general nature only. It doesn’t take account of any person’s objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate for your circumstances and seek independent legal, financial, and taxation advice.