Babies Are Expensive!
Saturday, August 14th, 2010Since we have recently added a new baby Averbach to our family, babies are on my mind!
Yesterday, I read an article from the Globe and Mail, Getting financially prepared for a maternity leave, which focused on how important it is to plan ahead.
The gist of the article is that even if you are eligible for maternity leave benefits your finances will take a hit. Are you planning for that hit?
One of the women interviewed said,
It will probably take two years to get back to our previous levels of savings,” she says. “I don’t stress about it much because overall our finances are okay and this is just something short term. I loved having the time to spend with my babies when they are little and I’m okay with the financial sacrifice.
Babies are expensive … Are you going to be able to make your mortgage payments, without over stressing your budget? Should you refinance? Are you planning on buying a new home or on renewing? How will being on maternity leave affect getting new mortgage financing?
The sooner you plan for the new addition to your family the better! Give us a call if you have any questions about how being on maternity leave may affect your mortgage financing.






