How much money do you need to save for maternity leave?

The second part of planning for maternity leave is going to cover finances and inform everyone around you! If you missed them, check out the first two posts in this series: when you take your maternity leave and how to set up systems for your business to run smoothly.

This is the big question for solopreneurs planning for maternity leave:
how much money do you need to save? 

To begin this process of discovery, break down what you pay on a monthly basis now and what you may be paying once the baby comes. 

The first category to breakdown is your monthly personal expenses: 

• mortgage/rent, 

• utilities, 

• cable/internet, 

• auto insurance, 

• gas, 

• student loans/debt,

• groceries, 

• health insurance 

After this, factor in the baby expenses: 

• diapers, 

• pump, 

• pumping bags, 

• bottles, 

• misc. midnight purchases (it happens!). 

Planning a baby budget and giving yourself some wiggle room for impulse buys can help alleviate a lot of financial stress in an already stressful situation. You will find there are typically a lot of monthly buys you did not expect for the baby. 

The next category to break down are your monthly biz expenses: 

• marketing, 

• admin (scheduling apps, website host), 

• assistants/employees, 

• studio/office costs

The final category to break down will be your extracurricular expenses: 

• Netflix/hulu, 

• takeout/easy meals,

• house cleaner, 

• travel, 

• savings, 

• shopping, 

• hospital bills.

These are all subject to change and might go up or down after the baby comes (ie: maybe more for house cleaning and less for travel). However, having a rough breakdown will help you create a feasible budget for the months you’ll be on leave!

---

WANT MORE?

DOWNLOAD

THE MATERNITY LEAVE MONEY
WORKSHEETS!

$1.99