What Products To Stockpile For Maternity Leave

Deciding what products to stockpile for your maternity leave, and how much, is no easy task! It’s no secret that when you transition to maternity leave you will take a big hit to your regular monthly income. What can make it even harder is that the adorable bundle of joy you just brought into the world additionally has a not so cute impact on your bank account! So, how do you cope? Plan ahead! They say hindsight is 20/20, and I fully believe it! This list is based on my own personal experience of what I wish I had stockpiled for our munchkin’s arrival, and what I will be stockpiling when munchkin #2 comes along! The best items to stockpile are the ones that will help counteract the new expenses being introduced to your monthly budget while you still have a regular income, and simply to help you still live life with as little adjustment as possible! Products To Stockpile For Maternity Leave Stockpiling Diapers–If you are planning on using disposable diapers, try to have at least your first 3 months already on hand by the time baby arrives. If you plan far enough ahead, you are given the luxury of waiting for clearance sales and coupons to combine with them […]

Surviving A Lower Income On Maternity Leave In Canada

Most parents-to-be struggle with the thought of living on a lowered income or some put off having a baby altogether for fear they can’t afford a child. I survived two pregnancies and two maternity leaves and made it through the after baby financial changes to our net income. I also have to mention that my marriage survived as well. You are laughing?? Just imagine, in a matter of seconds, you have more expenses and a lower-income. I am not going to lie, this is probably going to be the hardest thing you have done in your life. Lack of sleep, no time to eat or take a shower, not to mention the financial worries but I am proud to add, an enormous sense of accomplishment. I like to think that the worst is now behind me. There are so many things I wish I knew before I had kids but here I am now and I will share with you some of my precious findings. Here are some tips on how to enjoy parenthood instead of worrying about your finances and your sanity. How much money will you get on Maternity Leave? While on maternity leave and parental leave, the basic […]

Making Money on Parental Leave In Canada

parental leave baby

  Can I make money while on Parental and Maternity leave? This is a frequent question my Canadian Budget Binder fans want to know. So, I went to Mom Expert Sarah Deveau, Author of Money Smart Mom to share the inside scoop for our fellow Canadians wanting to learn about making some extra money while they are off work caring for their new bundle(s) of joy.   Parental Leave Earnings   Here’s what Sarah has to say…. If you’ve just had a baby and are living on the reduced income of employment insurance maternity or parental leave payments, you might be wondering how to bring in extra income. If you earn income while on the maternity leave portion of the benefit (the first 15 weeks), your earnings will be deducted dollar for dollar from your benefits. If you work while you’re receiving the parental leave benefit, after the first 15 weeks, in the past you’ve been allowed to earn $75 per week or 40% of your weekly benefits, whichever is higher. Any income earned above that amount will be deducted dollar for dollar from your benefits. However, due to the new Working While on Claim (WWC) pilot project, once you have served the waiting period, if your earnings are equal […]

Book Review-Money Smart Mom-Financially Fit Parenting

A Book Review of Financially Fit Parenting written by Author Sarah Deveau As you may already know Mrs. CBB and I have no children as of yet. We are hoping to have a child one day soon and this book was an excellent guide to answer some of our questions. When we hear about children and money we automatically believe it will cost a fortune to raise a child. That may be the case but if you plan and budget your money it may not be as bad as it sounds. Sarah doesn’t miss a beat in this book offering tips on everything from making the decision to have a child all the way to budgeting and saving for the future. All soon-to-be or wanna be parents like us should read this book and make notes and lots of them. You will learn everything you need to know about parenting tucked into this well planned out guide. One of the most important topics is preparing for one income and adjusting the budget to show this change. I often have mothers asking me how they can budget while on maternity leave  and I often tell them to “live it” before the baby […]