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21 Janvier 2020

5 Things to Consider in Your Budget Before Baby Arrives

The arrival of a child is a big step in the life of the parents. 5 things to consider in your budget before baby arrives

1. Absence during maternity or paternity leave

You're pregnant and everyone's happy about it. You still need to consider the practical arrangements and tell your employer without delay. It is suggested that you wait until the third month of pregnancy to tell anyone about the risk of miscarriage in the first trimester.

Once the announcement has been made to your family, you can inform your employer. You must make a declaration by registered letter with acknowledgement of receipt. You may also hand deliver the letter and keep a copy signed by hand.

As soon as the employer receives your pregnancy certificate, you are immediately protected against dismissal for up to 18 weeks following your delivery. Note that parental leave will extend this protection. You will also benefit from a work exemption to attend the mandatory consultations.

Developing a budget is essential in order to determine what type of parental leave you want and which will best suit your needs. We therefore recommend that all parents visit the QPIP website to learn more. You can also use the Benefit Calculation Simulator and verify your eligibility for income during the leave. 

2. Child care

It is strongly advised to take you early to find child care or a nanny for your child. Several services are available and it is important to find out in advance and plan the solution best suited to your budget.

3. Fitting out your home

If you live in a confined space, it may be time to consider a larger home. Don't forget to make sure your property is safe for your child. Install a fence on stairs, electrical outlet covers, secure table corners, etc.

4. Preparing your new baby supply list

It goes without saying that you will need several things essential for your baby's well-being. It is therefore essential to make a forecast of your expenses in order to compare prices and be ready when the delivery comes. It usually takes a long time to organize a list with priority items for you and your child. Do not hesitate to ask your acquaintances for advice and to visit specialist shops, etc. You will need, among other things, a stroller, a bed, a suitable bathtub and much more!

5. Your child's future

It's never too early to think about saving for your child's education. Find out more about the different options available to you.

Now that you know what to do, remember to breathe and enjoy your pregnancy.

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