This weeks reading list will be full of awesome blog posts from personal finance blogs and foodies blogs around the web. I’ll admit I’ve slacked with commenting as I’ve been so busy with side projects but I do read them and share. I’m sure I’ll be wrapping all that up shortly and we can roll out the new site soon for all the fans who are anxiously awaiting for me to get rid of this cult of a page. Yes, that’s the feedback I received and that’s OK, I enjoy learning about what needs to be improved with the page or anything in my life. Life is about learning and when you shut the door and stop listening then growth stops. So when my fans told me my blog was dark, busy and cult like, well I listened. In order for CBB to grow, this blog environment not only has to be fun and interactive but inviting and clean. Not many Bloggers realize how the presentation of their site can impact the fans who want to stick around but don’t. I was one of them. So, Andrea…. work your magic, no pressure though. Another milestone was reached on my Facebook page […]
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. What are EI parental benefits? EI parental benefits are offered to parents who are caring for […]
Making Money on Parental Leave In Canada
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 […]
Maternity and Parental Leave Part 2: Budgeting
Maternity and Parental Leave Part 2: Budgeting Ideally, you’ve gone on maternity leave only after working for at least the minimum 600 hours (about 15 weeks full-time) in the last 52 weeks or since your last Employment Insurance claim. This will ensure you receive the current maximum payment at $447 per week. For many families, this means mom (and maybe dad later on) will be bringing in half of their previous income for a year unless they have a paid maternity leave or top up with their employer. In many cases, maternity leave benefits can be far less than half. Here are some ideas on how to budget for this change in your family’s finances. Plan ahead. If you’re pregnant, or just planning to get pregnant, now’s the time to go on a money diet and begin budgeting for a baby. Trim your budget and do your best to live off your projected maternity leave income. Save that unused income to provide you with a cushion during your mat leave, to cover some of the larger baby items, or to pay down debt. Don’t assume it will be easier to save more money when you’re not working, because you won’t be tempted […]
