Income during Maternity Leave

Handling the income while on maternity leave can be a cause of concern and if you have decided to stay-at-home-mom then the need to cut down on unnecessary expenditure will be the first concern.

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You need to get yourself insured if you want to have some extra income in your hands during pregnancy and there are many laws in U.S that are friendly to would be moms but then you need to know more about these laws well in advance i.e. even before you conceive so that you don’t have to face any problems when pregnant. If you are a working women then your company may be in a position to offer you maternity leave benefits but then you need to know if you will be paid your full income or a partial of your income while still on maternity leave so that you can take care of your newborn without any tensions.

Babies-Expenditure

Surprised that you need to think of your baby’s expenditure well the fact remains that you will need to start spending money for your baby’s diapers, burp clothes, formula until and unless you decide to breastfeed your baby, clothes, soaps, lotions, crib, bedding etc.

Though most of the times these things are gifted to you during baby showers yet you need to be prepared to spend a little money on your baby.

Saving your income

You need to save up some money when the baby arrives if you have decided not to resume work after childbirth. Though staying at home is a good option for married women this is a major problem when it comes to single mothers as they have to plan for both i.e. themselves and their baby.

Most of the time you may be given twelve weeks of maternity leave depending upon your company’s maternity leave policy as well as your insurance cover and if you decide to extend your maternity leave then you may have to either give up partially on your salary, the need to budget your expenditure becomes important so that you don’t have to panic at the last minute.

Planning wisely

Even though you may have planned to resume work after childbirth there have been cases where the priority has changed and mothers have resigned from work so if you too have decided to resume work or tender your resignation then you need to plan both well in advance so that you have an alternate plan in case you resign from work.

Single mothers

As a single mom you have to bare the burden of all the expenses and budgeting can be a major problem long before the baby is due, you need to save up money at least six months in advance and if your company pays you at least a portion of your salary while you are on maternity leave then you can still spend money safely.

Save up for your maternity leave

Firstly you need to prepare a budget so that you know where exactly you need to spend the money and the other things that you need to know are:
What is the provision you get from your insurance policy, workplace maternity leave policy and the expected pay during this leave period, saving money as much as possible, stick to the budget, don’t spend unnecessarily. If you have everything planned then there is no need to worry so sit back and relax.