Comments on: Dealing With Less Income – Baby Expenses II http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/ Investing and Personal Finance Sun, 14 Mar 2010 00:59:23 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Four Pillars › Maternity and Parental Leave - Baby Expenses I http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-709 Four Pillars › Maternity and Parental Leave - Baby Expenses I Wed, 29 Aug 2007 11:52:50 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-709 [...] Next Baby Expense post. This was written by FourPillars. Posted on Monday, August 6, 2007, at 9:54 pm. Filed under Baby Expenses. Bookmark the permalink. Follow comments here with the RSS feed. Post a comment or leave a trackback. [...] [...] Next Baby Expense post. This was written by FourPillars. Posted on Monday, August 6, 2007, at 9:54 pm. Filed under Baby Expenses. Bookmark the permalink. Follow comments here with the RSS feed. Post a comment or leave a trackback. [...]

]]> By: Baby Theme and More! | Million Dollar Journey http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-485 Baby Theme and More! | Million Dollar Journey Fri, 10 Aug 2007 07:32:18 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-485 [...] @ Four Pillars has written a great series that centers around a Baby Theme.  Here is Part 1, Part 2, Part [...] [...] @ Four Pillars has written a great series that centers around a Baby Theme.  Here is Part 1, Part 2, Part [...]

]]> By: FourPillars http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-476 FourPillars Fri, 10 Aug 2007 00:16:31 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-476 I agree BB - it's well worth a few bucks. Mike I agree BB – it’s well worth a few bucks.

Mike

]]> By: Brip Blap http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-473 Brip Blap Thu, 09 Aug 2007 21:20:29 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-473 I couldn't agree more that it's worth taking a financial hit to spend a month or two at home. I would, however, recommend that you try to rearrange your lifestyle before the child arrives rather than taking on debt once he/she comes. My wife and I went to great pains to change our lifestyle so that we could live off one income - like Telly - and even worked hard at saving up a "just in case" cash backup so that I could stay home for a while. I ended up staying home a little more than 3 weeks (which is a long time for a father in America) and my wife never went back to work. It's worked out well - we have less income but it's well worth it to spend time with our son. I couldn’t agree more that it’s worth taking a financial hit to spend a month or two at home. I would, however, recommend that you try to rearrange your lifestyle before the child arrives rather than taking on debt once he/she comes. My wife and I went to great pains to change our lifestyle so that we could live off one income – like Telly – and even worked hard at saving up a “just in case” cash backup so that I could stay home for a while. I ended up staying home a little more than 3 weeks (which is a long time for a father in America) and my wife never went back to work. It’s worked out well – we have less income but it’s well worth it to spend time with our son.

]]> By: FourPillars http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-463 FourPillars Thu, 09 Aug 2007 00:05:29 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-463 Thanks MDJ! Thanks MDJ!

]]> By: MillionDollarJourney http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-462 MillionDollarJourney Wed, 08 Aug 2007 19:08:57 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-462 Mike, off topic, but I love the graphics. :) Mike, off topic, but I love the graphics. :)

]]> By: telly http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-461 telly Wed, 08 Aug 2007 16:40:59 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-461 hah...thanks Mike. The thing is, I don't know anything about the hardest part...parenting! Hopefully someday soon. This really is a great series! I'm looking forward to the next installment. hah…thanks Mike. The thing is, I don’t know anything about the hardest part…parenting! Hopefully someday soon.

This really is a great series! I’m looking forward to the next installment.

]]> By: FourPillars http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-460 FourPillars Wed, 08 Aug 2007 15:14:11 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-460 Telly - I'm thinking maybe you should have written this post. It sounds like you will be far better prepared than most new parents. Good point about cutting back extra mortgage payments and rrsp contributions to save cash. Mike Telly – I’m thinking maybe you should have written this post. It sounds like you will be far better prepared than most new parents.

Good point about cutting back extra mortgage payments and rrsp contributions to save cash.

Mike

]]> By: telly http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-459 telly Wed, 08 Aug 2007 14:05:24 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-459 Thanks for the insight on budgeting for babies! My husband and I set up our finances when we got married such that we could live off one income (our incomes are essentially equal). We don't necessarily sock away 50% of our incomes (we're at ~46% of net) but we would be able to make due with a few less splurges (i.e. vacations). We took this into consideration when we bought our house, which was key. If maternity leave works for us, it would hopefully only mean no more RRSP contributions or pre-payments on our mortgage. Thanks for the insight on budgeting for babies!

My husband and I set up our finances when we got married such that we could live off one income (our incomes are essentially equal). We don’t necessarily sock away 50% of our incomes (we’re at ~46% of net) but we would be able to make due with a few less splurges (i.e. vacations). We took this into consideration when we bought our house, which was key. If maternity leave works for us, it would hopefully only mean no more RRSP contributions or pre-payments on our mortgage.

]]> By: TheFinancialBlogger http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/comment-page-1/#comment-457 TheFinancialBlogger Wed, 08 Aug 2007 11:07:12 +0000 http://www.four-pillars.ca/2007/08/07/dealing-with-less-income-baby-expenses-ii/#comment-457 We didn't have much strategy for the first kid and we didn't think about anything else the second time either. Like you said, couples try to cut down their expenses as low as possible and then, try to survive! I plan to use my year end bonus to compensate for the lack of income. That will give us more flexibility until we receive our tax return in May/June. We didn’t have much strategy for the first kid and we didn’t think about anything else the second time either.
Like you said, couples try to cut down their expenses as low as possible and then, try to survive!
I plan to use my year end bonus to compensate for the lack of income. That will give us more flexibility until we receive our tax return in May/June.

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