Is my maternity leave a mistake?!
I knew I was taking a financial hit when I decided to take 15 months off and my husband was going to take the first 13 weeks with me. Being first time parents, going through the first 3 months together was amazing. He's back at work now and I think I would have been quite overwhelmed without him, especially the first several weeks.
For fun, I calculated how much gross pay my maternity leave will cost me.... $87,669!!! I almost passed out. This also doesn't include the pension I need to pay back when I return to work, which I expect will be around $8000. I guess I knew it would be a lot but actually seeing the number is making me second guess everything. Our gross household income is approximately $185,000. My husband can pay all the bills and groceries on his salary, but there's not any leftover to save for renos, extra money on the mortgage or investing. We have a $12,000 emergency fund. In addition, I saved $10,000 to cover my car payment, insurance and anything else that isn't a bill/groceries. My husband has his own savings.
My first goal once I get back to work is to invest in my TFSA. I had over 35000, but used the money for my share of the down payment. Part of me thinks I should go back to work at the 12 month mark (if I can even get daycare..) and work towards that goal. In the same breath, I'm really looking forward to spending next summer with our daughter. She will be able to walk, eat, be in the sun and have a personality haha!
While pregnant, I always said that money comes and goes but our daughter will only be this age once... but now I'm second guessing... What would you do in my situation?