How do you have a baby?

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Hello there ladies, I have a question:  What do you do with your finances when you have a baby? The company I work for pays the minimum 6 weeks for maternity leave.  You are allowed to take four months, but after 6 weeks you get nothing.  How do you continue with pension and medical aid and stuff that is required to be paid every month while you are not getting a salary? Hubby and I have a very finally tuned budget.  There is not much space for extras in there.  If we will be missing a salary for a bit it will really throw a spanner in the works.

How do you do it? We get a decent income. We have enough to be comfortable.  We are better off then many people out there. However, they seem to be affording to have babies, we don’t think we can take the financial strain.  How does everyone else do it.  We are definitely missing something here.  The only debt we currently have is one car and a home loan, both under control.  All the correct insurances and medical plans in place, so where are we going wrong? 
I have heard all the stories about how one should not equate children with money.  We have been told we should just have one and we can make a plan afterwards.  What plan?  I already know we can’t afford for me to be home without a salary.  Also, what do you do with childcare once work calls?  We decided that for us the nanny option is the one.  Until the kid is old enough to do daycare schools.  This costs money. 
How does everyone else make it work? Hubby and I are doing something wrong here.  What is it?
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18 responses »

  1. It’s a difficult one to juggle in terms of the maternity leave and pay.The UIF system is pretty useless when you actually need it as they tend to pay when you go back to work so bridging that gap is up to you…when is the baby due 😉

  2. Arcat you can always go and claim from UIF for maternity even though you might not get it on time, you will still get something. J2 and I have been asking ourselves those questions for about 2 years now and we have decided that now is the time to start a family. We don’t know the details as to how but we now feel total peace that whatever happens, God will provide and He will supply our needs. If I go on maternity, there is a great chance that I might not get paid at all. So we are trying to save up now even before we fall preggies so that we are not caught with our pants down in the end.

  3. This is hard to answer. Firstly, if possible, try to save at least your portion of the expenses for the duration that you will not be paid. That helps to relieve some stress. Remember that you are on a medical aid (even though the payments will increase once baby is born) and that you and baby will be covered should their be any medical needs (big relief that!). Believe it or not, you do adjust and things do work out fine financially. Less dinners out, less luxuaries, less holidays, etc – BUT it is SO worth it!

  4. We never got paid anything for the four months – so I had to claim UIF – this takes forever to come through and generally you start to get paid once you are back at workWhat I did second time around was arrange with the salaries department to pay me while I was on maternity leave and then i signed an acknowledgement that I would work for the minimum of four months when I came back from maternity leave. They then never paid me for those four months by which time the UIF payments had started. So there was money coming in every month.Regarding the pension – my company froze that for the four months – medical aid wasn’t a problem as it was on hubby’s salary.It was tight but we managed. Also while you are pregnant try and save so you have a bit to fall back on. nappies and formula are your two most expensive items – so try and stock up on nappies in all sizes in advance. Unfortunately you can’t do the same with formula as you can’t be sure what formula will agree with baby.It all works out in the end.

  5. i just think if u think too deep into it, it will scare u away…it happened to me…we go out less,we r too tired anywayz, we also think twice when it comes to us to get anything…it just happened, the child becomes the most important thing…and as this is me said all the little luxeries go…

  6. You’re doing nothing wrong. But kids are expensive, you’re right. You should qualify for UIF maternity benefits, and that should cover at least something. Try putting money away before you have the little one. But things do seem to sort of happen, and you get there. I did, on my own mostly, so there’s no reason you and hubby can’t either…

  7. Ask your HR department for help – things like freezing pension payments etc are often possible. A nanny is definitely the option I would go for again – you get a clean house to come home to, as well as a happy baby in his or her own environment. But start looking for the person long before you go back to work. Hey Arcat, kids play havoc and one can’t plan everything, but it’s good to have a plan, and perhaps even a plan B!

  8. That’s the one thing you can never know. With kids there are no certainties what-so-ever…ever. You get to wing it on a daily basis, and sometimes it works out, and others you screw up completely. No guarantees…

  9. This topic always makes me think. I haven’t yet made the step in that direction but everyone says I shouldnt worry when the time comes. Our expenses are already so crazy and how do you balance work and children?

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