Parental leave often means reduced or no income. Here's how to prepare financially.
Know Your Leave Benefits
- Paid leave: How much and how long?
- Short-term disability: Often covers maternity
- PTO/vacation: Can you use it?
- State programs: FMLA, state paid leave
Calculate the Income Gap
Map out month by month:
- When does full pay end?
- When does partial pay start?
- When does unpaid leave begin?
- Total shortfall to cover
Building Your Leave Fund
Start early—9 months is a good runway:
- Save the gap amount plus 20% buffer
- Track progress with Partner Mode
- Both contribute if possible
Cutting Expenses During Leave
- Pause subscriptions you won't use
- Reduce dining out
- Accept hand-me-downs gratefully
- Delay non-essential purchases
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.