Maternity leave income stressing

chevymama109 · August 2013

Hi ladies as I near 30 weeks my mind can't help but worry about being out on maternity leave and having my income come in short and having a brand new mortgage to pay while on leave. My hubby and I work full time and he will plan on working part time while I'm out. Just curious how others have made things work when they have a mortgage and new house bills to pay?

Mailmans Baby Momma · August 2013

We started a couple months ago paying ahead on our mortgage (not principle, but actual monthly payment) so that by the time our LO gets here, we should be 3 or 4 months ahead. Ideally we won't have a mortgage payment until I go back to work.

fluttergirlmoonchild79 · August 2013

While I'm still working I've been working as much OT as they'll let me have (I'm hourly, so I know this isn't an option for everyone). We've been trying to stash back as much money as possible and I've been slowly going out and picking up things like shampoo and non-perishable foods so that we can try to keep our grocery bills as low as we possibly can for a while. We've also been stocking up on diapers and wipes. We also made sure when we bought our house that if worse came to worse, we could afford it on one income. It would be tight but we could make do for a few months if need be. Just curious - why is DH only working part time while you're on leave? Most dads take anywhere from a few days off to a few weeks (most use PTO) and go back to work full time while the moms are still on leave.

MMMiller · August 2013

Well I have to admit my DH and I are both teachers so we get very nice benefits for maternity and paternity leaves. I just wanted to ask for clarification...why is your husband going to part time if he works full time now? After the first few days you'll be fine on your own.

lafsalot · August 2013

I am using mostly PTO while I'm off for 6 weeks then working from home after the first of the year for a month and a half. I have 2 weeks and 2.5 days that are short term disability time which is at 50 or 60 % of my normal income but no taxes are taken out of disability and I have fixed my disability weeks so that I am still getting paid from work based on every 2 week pay cycle do my insurance will still come out. I also have a bonus coming the week before my leave and am working really hard to ensure that number is substantial. So my circumstances are a little different. I also am not too worried about the 2.5 days extra leave that I need because if worst comes to worst, my boss would just give me the days no questions asked.

CarrieB. · August 2013

I only have two weeks where my DI won't pay the full 100%. I think it pays 70%, but during my last leave I had 5 weeks at 60%.

It was okay bc they didn't take out taxes, but you will get taxed on it when you file, so it's just shuffling around when you owe it. I found that I spent way less money on leave than when I worked. No Starbucks, no vending machine snacks, no lunches out. And we certainly weren't doing a lot.

lobosabby · August 2013

We are going to have three weeks without my pay coming in.

We just set a budget early on and have been REALLY dilligent about putting enough money away for that period of time. We've had to cut out a LOT of expenses, but it's worth it so I can stay home.

Yes, I still stress out about it, as I handle the house hold finances, but when I sit down and take a deep breath, I realize we'll be OK.

Ditto PP's though that I don't think I'll be spending a lot of money while I'm out on maternity leave. Gas is one expense that comes to mind that will be pretty much eliminated as I'll rarely have to fill up.

Try not to stress too much and look at the big picture! It's scary, but I bet with some careful planning, you'll do great!

lhammerle · August 2013

For us, we wouldn't put ourselves in the situation where we'd have less income coming in. DH will be using vacation time he has saved up so he can stay home with me for a couple weeks, then he'll be back to work FT. I get 6 weeks of leave paid in full and then I'm using up all of my vacation time that I have saved up. (I've been at my company for 10 years so I have 5 weeks of vacation saved and then can be home for a total of 11 weeks). Then I'll go back to work FT.

I say that whatever you choose to do, start planning now. If you can, put extra money aside to pay the bills. Make sure that you'll have enough with your DH only working PT. I would be really stressed out not having enough money to pay bills on top of the stress of taking care of a newborn

julie1122 · August 2013

Could DH work full time to make it easier? Not sure the circumstances but that may help a bit. Plus, you'll drive less, use less gas, and probably stay in more.

whatididntkno · August 2013

I won't have any income coming in from my part time job, but we've been saving to pay off one of our cars which will mostly negate what I made at that job. We've been trying to pay things off since BFP and now that it's down to crunch time we sat down this week and came up with a list of things we know we need to get through maternity leave (pet meds, pet food, cleaning supplies, baby supplies, house renos, etc). We're going to throw all of our "extra" money at those things now so that we don't have to worry about it later. This basically just translates to less date nights and splurges over the next few months for us.

Ashleyfurillo · August 2013

I don't get any paid leave but my boss keeps telling me to stop stressing he will take care of me (I've been with my company for 9 years and they are like family at this point). I don't want to rely on anything not guaranteed so we have been saving and watching our spending since we found out we were expecting. We will be fine on the 1 income for my 12 week leave

bmqcmg · August 2013

Lots of saving has been happening at our house. SO will continue to work part time (he works part-time while going to school right now) while I am on my 8 week leave.

Also, my work will use my vacation and sick time first and I will get paid that 100% before I hit 60% maternity leave.

MsCrispy · August 2013

I've been saving up PTO like crazy to be able to use it for maternity leave (STD pays about 4.5 weeks, so I'll be using 7.5 weeks of PTO). I basically haven't taken any time off so far this year and after I get back from maternity leave, I will be almost out for 2014 as well.

Not to be snarky, but I'm kind of surprised you waited until 30 weeks to start thinking about this. I would say take a look at your budget and start saving now. When you do go back to work, you'll have to pay for day care and your healthcare bill will go up when you add your LO. You'll have to find room in your budget, so do it now and save the difference until the baby arrives.

I'm also confused on why your DH will only work part-time if you can't afford it. You could also see if your work would let you go back part-time during maternity leave or you could choose not to take the full 12 weeks off. Not ideal, but it may be what needs to be done.

dobrydney · August 2013

fluttergirlmoonchild79 said:

While I'm still working I've been working as much OT as they'll let me have (I'm hourly, so I know this isn't an option for everyone). We've been trying to stash back as much money as possible and I've been slowly going out and picking up things like shampoo and non-perishable foods so that we can try to keep our grocery bills as low as we possibly can for a while. We've also been stocking up on diapers and wipes. We also made sure when we bought our house that if worse came to worse, we could afford it on one income. It would be tight but we could make do for a few months if need be. Just curious - why is DH only working part time while you're on leave? Most dads take anywhere from a few days off to a few weeks (most use PTO) and go back to work full time while the moms are still on leave.

This is what we're doing too. We have been buying extra things that won't go bad like shampoo etc. when it's on sale so that our grocery bills are less, we're working to pay off DH's car by September, and then we're stashing away all of the extra money to go towards me not having income for 6 weeks and childcare when I go back.

babymama619 · August 2013

I'm stressed about it too, but I'm trying to be optimistic. Right when surprise BFP showed up I had completely depleted my savings for student teaching. For a variety of reasons I had to leave and I have to redo it. So if baby comes on her due date I'll have 7 weeks off then start student teaching again. That will be about 17 weeks off without pay. At the end I'll have no job and be broke again, so things aren't looking super stable over here. I'll mostly be living off of student loans and credit cards, and while I'm still working I've been saving like crazy. I'm just trying to stay optimistic and do everything I can to set myself up for success.

As for baby items I've bought almost everything off of Craigslist or bookoo as well as hand me downs from friends.

Chargersgrl33 · August 2013

My maternity leave is all FMLA but we don't rely on my income. It is more for saving and traveling. DH is active duty AF and gets 10 days off. He will take those when I get out of the hospital and we will probably keep DS in daycare.

I also like the idea of buying stuff ahead of time. You can't fully prepare for what baby will need but for food etc you can get ready.

Lolasky · August 2013

Mailmans Baby Momma said:
We started a couple months ago paying ahead on our mortgage (not principle, but actual monthly payment) so that by the time our LO gets here, we should be 3 or 4 months ahead. Ideally we won't have a mortgage payment until I go back to work.

You seem to have a great plan. As someone whose worked in the mortgage industry, I do have to let you know about the daily simple interest that will accrue during those months. In some cases, the dsi alone can be more than a few monthly payments put together. I would call your mortgage company and ask them about how you can ensure that the dsi remains under control. Maybe offer to only pay the dsi accrual monthly while your off or they can make adjustments based on your situation. It's worth a try. Good luck!

KatieintheCity · August 2013

DH will continue to work FT. My leave will be mostly covered, depending on how much I decide to take. I get 5 weeks STD at 100%, 2 weeks paid parental leave, and I'll use 3-4 weeks PTO. I'd like to take 16 weeks, so that would leave us 5-6 weeks without my income. We have quite a bit saved up and live below our means already though. Plus, I anticipate as several other ladies have mentioned, not spending as much while on leave.

molly0169 · August 2013

This was a major area of concern for me. i brought up the subject with my company and they decided to give me a raise that they are allowing me to take in full during my maternity leave, I will also have about 15 days of PTO that I can use. I will be able to take 8 wks fully paid. We are alos actively trying to get all extra expenses paid down (credit cards). DH has a ton of PTO and will stay home with me for a week or so before I kick him out and send him back to work.

fiddlefern · August 2013

I am fortunate enough that I will continue to get my full pay through my leave, although I will be in the office two days a week and checking in from home periodically. We plan to save some money by only sending DS to daycare Tuesdays and Thursdays. This will allow me to attend a BF'ing support group and head into the office with the new baby. I will also have a PnP setup in the office. I will only be taking 6-8 weeks off before I return to work full time.
It's not feasible for me to fully checkout from work during leave as I am executive director and if I'm not here the bills don't get paid, payroll doesn't get done and next year is a HUGE election year for us.

MrsTucker2011 · August 2013

DH and I read an article suggesting if you plan on going to a 1-income household, to pretend like you only have that 1 coming in. So far, we've been doing that for a couple months, and it helps us to see where our spending is before LO gets here. All my income is put in savings, or used for unexpected expenses.

AlisonM12 · August 2013

Most of my maternity leave will be paid as long as I take about 8 or 9 weeks. I've been saving up vacation and I get 3 weeks sick to use. Plus, once Jan 1 hits ill get another 3 weeks vacation I can dip into. We have been saving since we found out we were pregnant but with house repairs and other things that came up we haven't saved as much as we would have liked to. But if need be we can fall back on that.

Mailmans Baby Momma · August 2013

Lolasky said:

Mailmans Baby Momma said:
We started a couple months ago paying ahead on our mortgage (not principle, but actual monthly payment) so that by the time our LO gets here, we should be 3 or 4 months ahead. Ideally we won't have a mortgage payment until I go back to work.
You seem to have a great plan. As someone whose worked in the mortgage industry, I do have to let you know about the daily simple interest that will accrue during those months. In some cases, the dsi alone can be more than a few monthly payments put together. I would call your mortgage company and ask them about how you can ensure that the dsi remains under control. Maybe offer to only pay the dsi accrual monthly while your off or they can make adjustments based on your situation. It's worth a try. Good luck!

Thanks for the tip!

SamanthaPo · August 2013

I am definitely the bread winner of the house. I will be using all 28 days I have save up plus the holiday. I would like to take more time off, but that just isn't an option. SO will only take a week off and save the rest of his time off just in case she gets sick, then he will be the one to stay home.

Personally, SO wouldn't want to work PT if we would struggle financially. Just curious, but why is your DH doing so?

spiffy7 · August 2013

With my first son, we bought a house and moved the day we brought him home (don't recommend, haha)... So we had a new house, new mortgage and new home bills. I took my maternity leave with 4 weeks paid vaca that I had saved and sat down to discuss the necessities. Don't need cable, what grocery items can we eliminate or cut back on, etc. It got us through and when I was suppose to go back and we decided I'd be a SAHM, we just continued those cuts and eventually took on some tutoring students to pay for little bills. If it's something you want and or need, you make it happen.

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