Expert Resources

Having A Baby?

Yes, I am… and this time around I don’t feel all peppy, perky, joyful, and excited. This time I feel OMG, I’m having a BABY!
This was no surprise. It was IVF, and there was a lot of anticipation and waiting

Carol Yang

Yes, I am… and this time around I don’t feel all peppy, perky, joyful, and excited. This time I feel OMG, I’m having a BABY!

This was no surprise. It was IVF, and there was a lot of anticipation and waiting to ensure we made it safely to twelve weeks. There was awful nausea, debilitating exhaustion and one very busy office with clients who needed to be seen.

OMG! We just were so inundated with busyness that from month three to nine, I didn’t really think about it again. Once I started feeling good, more energetic and was back to eating and swimming, I didn’t give it another thought.

But OMG! It’s real. It’s nearly time. I’m having another baby and I feel so incredibly unprepared. I’m too FKN old for this now! What were we thinking? Boy, do I need to get my butt in gear and at least get a baby room ready!

Alas, the joy of a baby, the way life fades by each day while you are entirely mesmerised by this bundle of lameness and the “coogeecoo” you use each day to show love and appreciation. That’s what I look forward to. Those cuddles, baby smells (the good ones) and just embracing the whole experience for what could be my last time!

Ah, a baby, leading me to the very point I need to make here. Ladies, if you’re having a baby, the excitement and joy can overshadow any financial sense.

So what do you need to prepare financially when having a baby or another baby?

  1. Are you entitled to parental leave? Get those Centrelink forms filled out beforehand. There are a lot!
  2. Do you have a cash reserve or buffer for at least four months?
  3. Have you considered the cost of day care – (around $40 a day after your rebate) and if you will be paid more than that upon returning to work?
  4. Have you considered the need for life and disability insurances? In or out of your superannuation? And trauma insurance for yourself and kids?
  5. Need help? Short-term loan changes to interest only could help you keep your mortgage. Also even needing to work in with friends and family to share care could be a great help if you need to return to work.
  6. An au pair option is available for $200 per week for a helpful live-in. Just interview carefully first! Could be cheaper than day care, especially if you have two around kindy age.
  7. Time out of the work force and keeping your skills up-to-date and relevant.
  8. Superannuation, spousal contributions on your behalf if you aren’t returning to work and using super to cover your vital life insurances too.

Only a few things to consider (lol) , but all I can think about in my hazy state of baby brain numbness.

Wish me luck!!

Lou xx

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