While saving for the future can be a difficult thing to do in any stage of life, saving in preparation for a maternity leave is imperative. Even if you are one of the lucky mothers in the United States to receive a paid maternity leave, saving is very important. You never know what is going to happen. The more prepared you are, the more smoothly things will go if a problem does arise.
While financial experts agree that everyone should have several months worth of living expenses on reserve at all times, a pregnant couple should strive to have an extra six weeks worth of income in savings before the baby is born.
Simple math shows that in order to make sure you have the correct amount in savings before the baby arrives, you should put 20% of your normal paycheck aside weekly, for the duration of the pregnancy. This is obviously going to be more likely to be possible if the baby is coming into a two-person household. However, it is not completely impossible for single mothers if they plan well.
In order to free up 20% of your normal paycheck, expenses will likely have to be cut. Whether this means cutting back on eating out at restaurants, skipping the bi-weekly manicure, or even cutting down on household bills by getting rid of extra expenses, freeing up that amount of money will not be easy. Still, it is necessary to make sure you are in a safe financial place when the baby is born.
If you do have maternity leave at your place of employment, it is still a good thing to save. If no emergencies arise and the funds stay in your account, you could even take an extra week or two to stay home with the baby when your regular maternity leave is up.
This is just one of the many things that you can do now, to make your life less stressful and more hassle-free once the baby arrives.