Yes it sucks that the US is the only industrialized country in the world that does not have paid maternity leave. Personally, I can’t understand how that’s even possible. I mean, wasn’t the US supposed to be very progressive? Or is that era past already?
Whatever the reason may be, fortunately it’s not a complete disaster. You can survive the income hit that you’ll suffer. You just have to take some extra steps, that’s all. Preferably you’ll want to start taking these before you’ve turned into a waddling penguin. Even then, however, you can still manage to get some work done.
Start saving money early
Yes, as new parents, you’ll have to urge to splurge on tons of new things for your baby. Try to resist that wherever you can. Bringing a new person into this world is not a cheap affair. According to this study For that reason, you’ll want to start saving early – preferably before they’re born.
One great place to start is by taking all the money that you might have spent on things like alcohol and putting that in a saving jar. If you like the night life, then that can very quickly add up to a nice bit. Every time you would have gone out, work out how much you on average would have spent and put that aside.
Another good place is to finally quit those online subscriptions you aren’t really using. Aren’t actually going to take that yoga class or using that cable connection? Then why not take the steps to get rid of them! While it might not be that much per month, when you get rid of a whole bunch of them then it can add up to a whole lot in a few years.
