Maternity Leave

hi everyone...

new here. I am thinking of taking a year or two off from work after out baby is due. Anyone else think of doing this... how are you preparing to take the time off of work financially?

Thanks any advice will help!!!

Re: Maternity Leave

I wish I could, but, its not going to happen. I will return either to where I work now PT or find something else. I need to bring in some kind of paycheck though.

Re: Maternity Leave

I am taking an extended leave (teacher) but not saying how much yet because of contractual issues in my district and you never know who is lurking

I will also be going out early, several weeks before my due date. I do have over 100 accrued sick days... one of the benefits of being an older mom in the same teaching job for ten years.

We are older, 36 and 38 so finances and salary are not as much of an issue as they would have been 10 years ago. We've always lived a lifestyle way below our means and have tried to live on one income since we've been married. We have no car loans (no luxury cars), student loans have been long paid off and we are in a house. We do have to switch to DH's health insurance which is not as good of a plan as mine (which many people have told me is one of the best plans around). Like I said, if we were younger, made less, and had all of those other expenses I'm not sure what we would be doing. We rarely eat dinner out (lunch is cheaper), buy cheap clothing, have not had a vacation (couldn't we were doing fertility treatments), try to see matinees, brown bag lunch every day, avoid Starbucks and really watch our spending. We could spend a lot more, but we choose not to. That extra savings is allowing us the extended leave.

To be honest, child care for twins can run upwards of 25-30K a year for a center. Unless a woman is making over, at least, 65K a year or more before taxes, it really doesn't pay to work when you factor in commuting costs, etc.. That is why so many twin mommies leave their jobs or hire a nanny (cheaper).

ETA: I am NOT complaining one iota just stating how I am handling my own personal situation. Even when we were dating we lived the same way. I am very happy about the lifestyle we live. We could spend a lot more but we choose not to. It works for us.

For most women who have the option and desire to take an unpaid extended leave, real lifestyle changes ARE financially necessary. One must also weigh benefits, pensions (if applicable) and many other costs and perks. Can you tutor while you are out on leave? Do you tutor now?

It's a fact that those in their 20's have greater student loan debt and it is much more difficult for them to afford a house on LI w/o years of savings or a higher salary. Those increased costs often make the possibility of being a SAHM impossible for many.

Perhaps you and your DH can sit down, look at your expenses and see where you can save money now. Then you can put that amount away each month as your financial cushion for your extended leave.

Message edited 12/19/2006 9:40:38 PM.

Re: Maternity Leave

I too am a teacher so i have that option of taking a few years off (not paid of course) I just worry about going from two salaies down to one. It would be tight... But its so important to me to be home those first years.

Re: Maternity Leave

I was able to take a year off with both my children, I am a government lawyer. Although I considered myself lucky to have had this option, two years would have been ideal. Unfortunately, our contract only provides for a year, max. As the prior poster said, my husband and I were a little bit older and were able to plan for this. I also was able to return only part time and also work out a deal to do some work from home.

If you are able to figure out the logistics, I highly recommend taking some time off, it makes the transition to motherhood, be it the first time or not, so much easier.

Good luck.

Re: Maternity Leave

Ya know -- I am 40. I don't think I am old and resent having that thrown around all the time.

As far as maternity leave -- DH and I SPEND $$ how we want - we ENJOY ourselves and have a great lifestyle. I know when baby comes that will change as we will no longer be going out 3-4 times per week to nice restaurants. So we will save a lot of $$ that way....along with less weekend get-aways. I work from home so I will continue with my job - part of the reason I started my own business in the first place even tho it took me TOO a long time to get pregnant. But, you won't hear me complain about that as many others have a longer and more difficult journey and I am sensitive to their situations.

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I agree Kara....I dont think Age here is an issue ( and Theresa, not sure why you think 36 is old?)

Im working part time now and plan to take an extended leave and then go back part time ....We found just cutting back a little helped us save enough to be able to do this.

Its gonna be hard though, We anticipate that.

Re: Maternity Leave

Re: Maternity Leave

someone that is 40 is considered older when it comes down to child bearing I would think they would be in a better position financially as well. That's all she is saying .

Re: Maternity Leave

I have to agree with Theresa. As a 40 year old myself, my age and yes financial situation allowed for certain choices that I would not have been able to make in my late twenties. This is definitely one of the "perks" of being an older mother.

My youngest who is four, is in a Pre-k program that offers a full day option. I see so many first time mothers, who are clearly younger woman, working full time, the majority of them not by choice.

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Every post she mentions being "old" -- does not make someone older than she is feel good.

It's more a question of sensitivity to others.

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Oh for crying out loud- stop being so sensitive..... She said OLDER, not old. Sadly, most women who are over 35 are considered older moms- its a FACT.

I'm 33- I am OLDER than my sister who had her baby at 25. I am also more established than she was- which gives me advantages that she didn't have (homeownership vs. renting, better health insurance, financial security).

In your thirties, you are OLDER and usually more established than moms in their early to mid twenties. THAT was the point to Tahweezahs post. She wasn't talking about being "too old". YOU made it into that.

Amy

Re: Maternity Leave