Comments on: We’re Having a Baby!

By: Jennifer R

Jennifer R — Mon, 09 Jun 2008 18:31:39 +0000

Gail, It would be great if you had tips for those of us that are self-employed and don’t get maternity benefits at all. Luckily my husband’s income covers the bills, mortgage and savings, but my income has been groceries, entertainment and gas for the car. I have been downsizing our budget significantly so I have been setting aside about $300/month for after the babe is born, but that money can only last so long. I am assuming that after about 3 or 4 months, I will be creating some new at home jobs (piano teacher? seamstress? child care?) to earn enough money for groceries! Any other tips for surving , since our line of credit is almost paid off, and we really don’t want to use it at all.

By: Melaniesd

Melaniesd — Mon, 09 Jun 2008 01:10:34 +0000

My tip would be to put extra money away for income tax time! I ended up owing $2000 to the Feds. I expected to owe - but not that much!

By: Sharlene Burke

Sharlene Burke — Sun, 08 Jun 2008 18:08:33 +0000

And guess what happens when a pregnancy is determined to be multiples??? Absolutely everything planned for is thrown out the window! So even planning for a baby may not be enough. Luckily I had 2 beautiful baby girls 5 years ago and with the cost of daycare, etc. it did not make economic sense to return to the work force. I took the 12 month mat leave, gained energy during the next 6 months and then found work that I could do at home. Surprise surprise!

By: Caroline

Caroline — Sun, 08 Jun 2008 13:53:49 +0000

Starting to plan before you are even pregnant is the best idea! I had my baby girl 7 weeks early by emergency c-section and had to be on bed rest 6 weeks before that! I had hoped to work right up to about 2 weeks before I was due. You may never get those 9 months to plan for baby!!!!!!!!!!!!!!!

We will be more prepared for baby number 2 by starting to save before we are pregnant.

By: Tracy J

Tracy J — Sat, 07 Jun 2008 05:33:44 +0000

Don’t count on your job being there when you get off MAT leave either…. I was conveniently downsized about 2 months before my due date, so I had to start my EI claim early….nobody was ready to train and hire a huge hormonal lady! EI held for a total of 6 months (it was different back then), so I was left earlier than expected with a very young baby and no job to go back to. The babe had some health issues and I had depression from the nasty hormones, so job hunting was not at the top of my list of things to do… just waking up and getting dressed were huge for me then.We did manage by living on hubby’s income when the EI ran out. Just barely though, they were hard, lean times. And when things started to settle with baby and depression, THEN I got my act together enough to get a decent job and begin contributing to the bill paying again.

Another note: DON’T FORGET childcare for an infant is really expensive and hard to find…. so try to get your finances in order so you can take the first year off!!!! AND look well in advance! Quality care is generally full, so don’t wait to the week before you get back to work to start interviewing!!!

By: Wanda

Wanda — Fri, 06 Jun 2008 22:47:20 +0000

My husband and I planned for our first child, born this April 26th by saving up all the money we would need for the first year. Diapers, toys, cribs etc. We are not the best money managers (but are learning alot through Gail) but I was determined not to make a baby a hardship to our financial situation by doing some careful planning. We lived on less, saved more and made some important decisions during this time. We had some hardships that included my husband losing his job in my 7th month and having to move over 1400km to a new city when I was almost 8 months along but we did it. Unfortunatly we didn’t plan for any problems with our baby. We planned on a healthy, happy baby and a quick trip home with our bundle of joy. That didn’t happen. I went into premature labor, 4 weeks early. He was admitted to the NICU with some breathing problems. 3 days after he was born he was airlifted to the Stollery Children’s Hospital for an emergency surgery to save his life. We had to drive to the hospital from 5 hours away, stay in a hostel, eat out, miss work…none of which we were prepared for. I would estimate that the 3 weeks that he was in the hospital for cost us in the neighbourhood of almost $10,000 when you factor in food, lodging, missed wages, fuel… Thankfully we have wonderful parents who helped us out and our baby fund that we saved that have almost kept our head above the water. We went a little behind in our debt repayment and now don’t have that baby fund to draw from for all his expenses. But we’ve adjusted our plan and even though I am on mat leave (still waiting for that first cheque and it’s been over 8wks!!!) I will be returning to work part time. I can earn around $100 a week without affecting my benefits and that almost $400 a month will help. My husband is taking on extra work too. We are turning a less then ideal situation around.

So Gail is right. Don’t expect it all to go smoothly…sometimes it doesn’t. And no the government doesn’t cover it…you’re on your own! We are home now with our handsome son and he’s on the mend. I thank Gail for her advice I saw on one of her shows…the same as on this post….we followed it and averted a total financial disaster.

By: Andrea

Andrea — Fri, 06 Jun 2008 18:21:36 +0000

In addition to what Gail was saying, I believe that children are a gift and parents should be able to meet their children’s needs. I’m not saying you should be rich to have children but there are good and bad times for making this huge life changing event. My husband and I are waiting until we can afford daycare costs etc so that we are able to financially afford having children. I shake my head at people who have huge amounts of debt and then want to bring a child into the situation.