Baby’s here!

Baby’s here!
In the days following the birth of Étienne, Amélie and Simon received information on a number of government-run family assistance programs.

In the days following the birth of Étienne, Amélie and Simon received information on a number of government-run family assistance programs. This assistance gave them a little financial breathing room. They used the money to buy diapers and pay some of their debts.

During Amélie’s maternity leave, the new parents were able to regain a degree of financial stability. Their baby demanded their full-time attention, which left them with less time to go out and less opportunity to spend. And as Amélie enjoyed cooking while Étienne napped, Simon started bringing leftovers to work for lunch.

Shortly before Amélie went back to work, the couple found an opening for Étienne in a daycare. Unfortunately, it wasn’t a spot at $7 a day, but at $32. They had no other choice but to accept, even if this represented $25 more than they had anticipated. Fortunately, with provincial and federal deductions, a good portion of this amount came back to them when they filed their tax returns. If they had wanted, they could have received this refund beforehand by registering for advance payments of the tax credit for childcare expenses.

Stay-at-home mom
When Marianne was scheduled to return to work after her maternity leave, she was already pregnant with her second child. So she took advantage of the option to extend benefits from the Québec Parental Insurance Plan (QPIP) for close pregnancies. She and her spouse, Régis, looked into the possibility of having her stay at home once the parental leave was over. To make sure they made the right decision, they decided to transfer the amount they received from the QPIP into a second bank account and not touch it to see if they were able to live on just one salary. And they managed.

Now that Marianne stays at home, the couple must take extra care with their expenses. The parents buy a lot of second-hand items for the children. They go on few expensive outings and focus on outdoor activities and camping. They plan a budget and put the money they need for two weeks worth of expenses in a separate account. This way they don’t make any unnecessary purchases. Marianne and Régis plan on having more children, which is keeping them motivated to continue saving!