This is how you prepare for maternity leave financially – see 4 tips for a carefree baby bubble!

How to prepare for maternity leave financially?

Adding a family is one of the biggest and most beautiful life changes in life. Pregnancy and the arrival of the baby naturally also change the financial situation of the family. It’s good to be prepared for that. The better the yarns in your household are in your hands before the baby is born, the more carefree you can immerse yourself in a baby bubble when its time comes!

The dream of pregnancy, the delicate two lines are drawn on a stick, the revolutionary pregnancy of body and mind, and finally the birth and care of a child weave into a circle centered on the smallest in the family. During change, it is easier to know that one’s finances are in balance.

Although we live in one of the most equal countries in the world, Finland, and having a child is supported by maternity allowance, various parental benefits, child allowance, and childcare allowances, it makes sense to prepare for family addition on your own. The proverb “Well designed is half done” applies here as well. The more accurately you have been able to estimate the costs of raising a family, the more carefree you can enjoy the baby time yourself.

If you’re interested in financially stable maternity leave, check out these 4 tips!

1. Smart saves on time

If I had acted as smart as to how I now encourage others to act, I would have started regular monthly savings well in advance of the information about my first pregnancy. Accumulating a buffer, or money saved for savings, well in advance of the birth of a child provides security and helps prepare for unexpected expenses during pregnancy and family life. One good tip is to accumulate an amount in your savings account equal to 3-5 months’ salary income. Jasmin Hamid, who blogs about the economy and was just chosen as the investor of the year, suggested that he put the mortgage on installment leave during pregnancy. I saw the amount previously budgeted for the mortgage repayment to my own savings account, smart!

2. Budget for family allowances

Adding a family naturally means increased spending. It is worth preparing for the expenses of pregnancy and everyday baby life with realistic budgeting. At the same time, it has created a world of values ​​for what it feels necessary and good to spend. You may not need the coolest and most expensive strollers in the world, but a carrier backpack and baby insurance may be good investments. Budgeting helps when you pause for a moment in your lifestyle and assess what kind of expenses your baby will bring to everyday life.

3. The second hand is a family new black

From everyday baby budgeting, you can get a great second hand. Did you know that you can buy almost all your baby and baby clothes and accessories used? Facebook flea markets and local second-hand stores are full of quality and good stuff for the daily lives of families with children. Families who have already had a child should also be asked about little-used products. By buying a used one, you save (a lot) both your wallet and the environment. However, if you do end up buying new clothes and accessories, prefer domestic and sustainable – this way you can take advantage of the resale value by recycling them onwards.

4.Open money talk supports a relationship during a big life change

If you share the miracle of having a child with your spouse, it’s a good idea to be able to discuss the financial changes brought about by family addition with open cards from the beginning. When money talk is open and constructive even before a child is born, this good practice can also be shared with a growing child. Moments spent on financial planning before or during maternity leave are never in vain, on the contrary! It’s wonderful to be able to focus on sniffing a little when you know that your finances carry you through your baby’s everyday life.

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