Show me the Money

21 Jul

It’s official I have received my first maternity pay. It only took 9 freakin weeks due to “backlog” with Service Canada. Luckily we easily survive on one income and could of continued if needed. I would not have wanted to be a single mother paying for rent waiting that long!

My maternity benefits is a far cry from what my pre baby salary was but looking at this baby boy is 100 times better then any amount of pay!!

My plan is to take the year off and to spend as much time with baby boy as possible. I am going to work a few hours a week starting in September teaching a few classes and will build back up from there. It’s hard for me to stop completely as I have built the business from the ground up and want it to continue to grow! However I know that every moment is a precious moment with baby and I don’t want to miss any of them!

We are moving into a new house the end of August. A much bigger house, being 5 bedrooms, but it makes economical sense for us to move to this house outside of Ottawa (10 minutes to downtown still!). There is no pressure for me to go back to a certain work schedule for the time being and we took years off our mortgage! We wanted a larger home our family could grow into and loved all the space we got.

We did buy a new car for me so I can have ease of access to various activities with babe and easily travel to work.

However we still want to continue to save money. My husband and I are both very aware of our finances and what money comes in and where it ends up going to. We like to save but are also like to spend 😉

We know a few couples who are at the point of sink or swim with their finances. One or two we wouldn’t be surprised if they were forced to sell their house. Scary! But unfortunately we would have to say that we have seen it coming. I get it finances are a challenging topic for some but I think both individuals in a couple need to take responsibility. Why buy a home you can’t afford to live in?

So as I partake in my first few months of mat leave I would love to know how your family likes to save money? Do you create a budget or go with the flow each month? Are both you and your partner equally aware of your family finances? For those families who have a parent stay at home and no longer receives maternity benefits what tips and tricks would you share in staying smart about your finances?

4 Responses to “Show me the Money”

  1. susie ;) July 25, 2010 at 1:21 pm #

    Don’t ‘go shopping’, lol. You will always find something to buy. I’ll miss you!

    susie 😉

    • namastemommy July 25, 2010 at 1:30 pm #

      Duh of course I already budgeted for more cloth dipes 😉 it’s great that dh is on board with it since he knows how much we have saved in the long run by using them! So ya might see me sooner then later lol

  2. Mom on the Go July 25, 2010 at 1:33 pm #

    I’m struggling with following a budget through the month instead of just noting where the money went at the end. Discipline is hard. Work is hard, too ;+)

    Our goal is to be mortgage free.The biggest way we’re succeeding is having the money come out of the account automatically (when we refinanced, the minimum payments went down and we overpay each payment as much as is allowed and we move the remaining difference for lump sum payments) and any extra money, e.g. tax refunds, etc. go to the mortgage.

    • namastemommy July 27, 2010 at 8:26 am #

      I hear you on being mortgage free! That’s a goal for us too! We will be putting all our extra money towards it as that’s how we paid our car loan off so quickly as well. It really makes a difference I found when you expediate the payments. Good luck to you!
      I to struggle with following a budget and really need to dig my spreadsheet back out and just mark down where the money is going for a month or two.
      A few years ago when I did that I saw the ridiculous amount we were spending on take out. Even though all that thai food was sooooo yummy 😉

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