Tighten the budget
After evaluating your budget, you must meticulously streamline it more to prepare for the leave. This will help you manage or avoid any loss of income that accompanies taking a break. It can also help manage the new bills added to the budget.
You can do the following things to tighten up your budget;
- Reduce existing costs
It is important to read through your old budgets when budgeting for maternity leave. You can reduce the amount you spend on unnecessary things such as movies, new clothes, date nights and meals out. And use this money on your baby’s needs, which include clothes, diapers and food. You can also find more effective ways to save. For instance, you can negotiate for better prices when buying a car, reduce the amount you spend on getting internet service, and reduce eating out.
- Make more money
It would help if you find ways to make more money. You could find ways to add income to your budget if your leave is unpaid. It helps to manage the income gap. You can start by selling household equipment [5] to earn some extra money before the baby is delivered.
- Reduce new costs
It is not enough to save for maternity leave, you must also cut costs of new expenses. For instance, you can buy furniture from cheaper places instead of buying brand-new ones. You can reduce the amount spent to throw a baby shower, by making a detailed list of things you would love to get as gifts.