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Money Issues

Money Issues

Having children is one of the most expensive life choices we make. Of course it's worth every penny, but getting the balance right and ensuring a good lifestyle for your family is not as easy as it might seem. Especially if you don't have the good social and financial means already in place when starting a family.

Things are not that bad and this section of our website will guide you through the money issues that you are most likely to encounter when having a baby. From living on a budget to saving for their future, and how to get back to work after maternity leave.

And, of course, there's always our friendly BabyWonderland Forum where you can share top tips on how to manage with like-minded other parents.

 

Saving for Children

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Article written for BabyWonderland UK

Think Small - Start Early

The second line showed up on your test, in the ladies' at work.

Oh, my Gosh! You stare at it for a while and then feel your eyes blurring with emotion. You search for your mobile in your work handbag, packed with OPKs and pregnancy tests. "Sweetheart, I have something to tell you" and burst into tears. Finally, find your voice again and continue "On the way home, please can you pop into our bank for some info on their children's savings options?"

You wipe your eyes and nose, wrap the test nicely and lay it in the bag and get back to your desk, with your mind at rest that everything will be OK now.

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Child Maintenance

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Child Maintenance (CM) is paid by a non-resident parent to help the resident parent/tutor raise their child. So if you care for a child whose other parent lives elsewhere - that parent should give you money.

Children should get basic needs such as food, shelter, clothing, medical care and schooling from their parents or relatives. This support given by parents or relatives is called maintenance. Maintenance can be provided directly when the child lives with the parents or relatives or indirectly when the child lives with one parent or an slternate guardian. Maintenance will then need to be paid to the person looking after the child to provide for his/her basic needs.

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Baby on a Budget

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Article written for BabyWonderland UK

You can do it!

Living on a low budget and having a baby is a common concern for many families. Children add extra pressure to the day to day living costs and it’s not easy finding the right balance between spending and cutting down.

What are the causes of financial discomfort?

The answer is simple: choices cause poverty. Like everything else, it's a matter of choices. If you choose to live in a big house with a R15 000+/month bond and R50000+/year maintenance and bills, this is an expensive choice. Choosing to have children too young, choosing to bond a house too early, choosing to pay for years to come for a car, these are all choices that actually lead to financial discomfort.

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Maternity Leave

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If you're a working mother you have a statutory right to a minimum amount of maternity leave. Your employer may also offer their own maternity leave scheme.

The Basics of Maternity Leave

Statutory maternity leave is for 4 months. You may be entitled to receive Statutory Maternity Pay at the discretion of your employer.

To qualify for maternity leave you must be an 'employee'. (There are three main categories of working individuals: 'employees', 'workers' and 'self-employed'. You're classed as an employee if you're working under a contract of employment. A contract need not be in writing - it exists when you and your employer agree terms and conditions of employment. It can also be implied from your actions and those of the person you are working for. Your contract will normally set out what you're expected to do. You'll usually be expected to do the work yourself - ie you can't send someone else to do your work for you.)

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