Plan a child after you plan the money5 min read 21 Aug 2017, 01:02 AM IST
With a baby in the house, your expenses go up and income could reduce. Plan your finances so that money does not hinder your maternity plans
Amnik Talwar, 33 years old, likes to stay prepared. Although Talwar and her husband M. Devicharan, 33-year-old automobile engineer, didn’t draw up a timeline to have a child, Talwar knew that she needed to be prepared. Talwar, who is a chartered accountant and has worked in the audit team of a bank, knew that she would go beyond the entitled maternity leave and take a longer sabbatical after having a child. For this to happen without much financial discomfort, Talwar estimated a corpus that’s at least 1 year of her salary. “I always wanted to be a very involved mother so I knew that the 3-month maternity won’t be enough for me. I always saw myself taking a year off and so I knew I needed a year’s salary," she said. The paid maternity leave has since then been increased to 6 months.