So I’m due January 25 with baby #3…with no paid maternity leave. How much is an ideal amount to save by then? Any tips and tricks? My husband will get paid 6 weeks so it’s not the worst that it could be but I’m still stressing. When we had our other two kids, it was manageable to live with one income but now not so much.
Not sure how you manage your bills but I have mine broken down by week (bc we get paid weekly). I would get a number of how much you will need to pay those bills for the time your away. Then add on expenses that may arise maybe $300-400 on top of what you’d need for bills.
I think everyone’s finances are different. That would be something you would have to break down & figure out. Everyone’s utilities, bills, car, home/rent, groceries are different . Plus cost of living is different in different states/cities
My husband and I are trying to build an emergency fund to stay of of debt and the biggest thing the class stressed was figure out how much all your monthly bills are and times that by 3. So you have 3 months of funds before you really need to stress. And any extra stuff you can cut out, you should. I don’t know what your situation is, but I do know with kids it’s a completely different thing lol believe me, we got 3 too. Good luck and congratulations
Don’t forget extra cost with baby
Try to save at least dix weeks of you sakary.
I took a 4 week leave… saved enough to pay my bills for 2 months and an additional 2k for a “just incase.” I did ok with that. Still didn’t seem like quite enough though.
Save whatever your budget calls for. I use a monthly budget planned 6-12 months out at a time. You should already know exactly what your income & expenses are & be able to plan accordingly.