How Do I Financially Prepare For Maternity Leave

This means that you will get a paycheck even when you do not physically go to work.

How do i financially prepare for maternity leave. Paid time off is a wonderful way to financially prepare for maternity leave. Decide to create a maternity leave fund as soon as youre ready to get pregnant. Do not wait until the babys arrival to make the adjustment.

So save as much as you can. These are a few very important financial items to consider as you prepare financially for maternity leave. Im going to help you to financially prepare for maternity leave by providing these 5 tips.

Maternity leave has a measurable positive impact on the mental well being of mothers paid parental leave has been found to decrease infant mortality rate by as much as 10 percent maternity leave keeps women in the workforce when google increased paid maternity leave from 12 weeks to 18 weeks the rate at which new moms left the company fell by 50 percent. Make the change right now. You can learn more about parental leave and your finances as well as other financial issues that affect women at womens money week.

Prepare financially for maternity leave. Were a country that stresses college funds retirement funds and emergency funds. How to financially prepare for maternity leave in canada we are incredibly blessed here in canada to be able to take a long maternity leave to be home with our babies.

5 tips to financially prepare for maternity leave 1. And that sweet momma is worth every penny. H owever most companies cap your pto off way below this.

A plan pays off. Knowing how to prepare financially for maternity leave means youll be able to enjoy those sweet baby snuggles a little bit more. Budgeting for maternity leave should be proactive.

Are a joke she said. But i hear little discussion or emphasis on the preparation for taking time off to be with a baby which requires as much forethought and long term planning as any other worthwhile goal or experience. With a bit of smart planning you can maximize your time off and minimize your financial worries.

No new mama wants to worry about not having money to pay bills or purchase the basic necessities. When you prepare financially for your maternity leave you will enjoy that time with your child that much more. Todays show featured christi posner a credit counsellor for the credit counselling society and lead writer for mymoneycoachca.

If you spend some time on maternity leave checking these items off your to do list youll ease. In addition to saving portions of my paycheck once i got pregnant i used my remaining vacation days for the year two weeks and disability insurance coverage seven to eight weeks for c section recovery which amounted to about 450 per week to finance. My job offered the basic fmla criteria of 12 weeks unpaid leave.

This can be a time of amazing bonding with your baby but for many it is a stressful experience with the addition of a much reduced family income and financial strain. Christi is a new mom and shared her experiences and advice for dealing with debt managing your money and preparing for maternity leave. This post is a part of womens money week 2015.