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Maternity leave is granted to expectant mothers that are bringing new lives into the world. In fact, maternal or paternal leave is governed by the Family and Medical Leave Act (FMLA). This federal law was enacted in 1993, and protects your job (without pay) for up to 12 weeks after the birth of a child. The law also covers parents who need to take time off for child adoption procedures.
In any event, it is important that you understand the law in order to fully protect your rights. You must sit down with your boss and discuss all options — including possible paid leaves and whether your insurance coverage will continue. It is also vital to formulate a strategic plan with your partner that effectively addresses loss of income and financial budgeting for the baby.
Even if you are granted paid leave or short-term disability insurance, this is usually 40 percent to 60 percent of your salary for a set amount of time. With this in mind, post-baby delivery care will strictly depend on your budget. The following are a few crucial tips in planning a budget for maternity leave:
In order to stop financial duress, you and your partner must stick to the budget at all costs. This is the only way to prevent dipping into savings and ending up in additional debt.