I'm working like mad so I can take some extra time off when my son is born. What is your rule of thumb? I like to have a year's worth of expenses in an ideal world...
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Just in liquid cash savings? 6 months of expenses. If that were all I had though I wouldn't be comfortable at all in this stage of my life. Now a few years ago I probably would t have cared at all!
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Ideally a year's worth but we just bought a house so won't have that when baby is born. We will only have about 5 to 6 months worth and I'm getting nervous about it!!
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I think this would totally depend on how log you'd expect to be out. I'll only be out 3 months and I will be paid for a portion of that, plus we happen to be saving for a down payment on a new house right now anyway so we have a nice amount in a savings account at this moment. So we're not saving anything extra specifically for maternity leave. When my LO was born a few years back, we didn't have as much savings but our expenses were also much less (since we didn't have her daycare expenses yet!) so I was comfortable with our normal emergency fund of about 6 months expenses.
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3 comments