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?