Partner and I just had our first baby. We both have decent jobs- I make 81k and he makes 55k AFTER taxes annually. Since I will be on maternity leave for a year this will change my status to collecting from the government and lower my income substantially (26k for the year).
We have a hefty mortgage (2500 a month) + all other living expenses. He has about 20k in an RRSP, I have 20k in a TFSA (not invested in anything because I’m clueless) and 20k in a general emergency savings account. We have no other debts besides our mortgage but our monthly expenses seem high and I know we could cut back on some things.
Any tips for how to adjust with the baby here and my salary is slashed? I would love to consider being a stay at home mom since I plan to have more children but it seems impossible.
Submitted November 30, 2021 at 06:54AM by stillakimfan https://ift.tt/3D71QFO
