Getting Ready
Financial Checklist: Before your child arrives continued
� Deal with outstanding debt. If you have debt, find out how much you owe. Next, go over your budget and make a plan to pay off your debt as quickly as possible, so you can focus on your family’ s other financial goals. Your bank or credit union can help you create a plan and may have some tips on how to pay down your debt faster; there is no cost to speak to them.
� Build an emergency fund. Once you are earning more than you spend, start saving some money for an emergency fund to help you deal with unexpected child-related expenses, such as braces.
� Review your employee benefits. You should find out if your employer offers paid maternal or parental leave and for how long. If your employer offers a top-up, make sure enough tax is being withheld. See page 11 for other questions that you may want to ask your employer.
� Discuss maternity and parental leave options with your partner. Will one of you take all of the available leave or will you both be taking leave? See page 10 for info on Employment Insurance.
� Request a Record of Employment from your employer. You will need that so you can apply for maternity or parental benefits, when the time comes.
� Apply for Employment Insurance( EI) maternity and parental benefits. Apply for benefits as soon as you stop working. See page 10 for more information on Employment Insurance.
� Start looking into child care options. Start looking now to find the best option for your budget and get on a waiting list as soon as you can. See pages 29-30 for more information on child care.
Getting Ready
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