6/04/2015

Other Monies on Leave

Yesterday when looking at our income while on Maternity Leave, I mentioned that I'll also be eligible to apply for the Canada Child Benefits which include:

  • Canada Child Tax Benefit (CCTB)
  • Universal Child Care Benefit (UCCB)
  • GST/HST credit, and
  • Any other applicable provincial programs.
Due to income restrictions, Jordan and I will only be eligible for the National UCCB ($100/month).  We are though, also eligible for a program in British Columbia (BCFB), for which we'll receive about $25/month.

I figure - every little bit counts.

A short post today - but tomorrow I'll be posting the whole budget.
Reactions:

2 comments:

  1. Just a comment on the child benefits... seems you guys are making a great salary already... what my parents did for me growing up was to put every single cheque they received from the government into my account... back in 1972 they received a whopping $2 something a month, but religiously my mom would put the money away every month... this is also back when interest rates were super high. So even with only my dad working, they socked the money away and gave it to me when I was 18 years old. I have recommended that my friends that have babies do the same, if they don't need to touch the money each month. My parents never once made a withdrawl all those years...

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    Replies
    1. It's absolutely a great way to save for baby!

      We'll be likely saving a bit more than the benefits provide to max out the RESP savings grants so I'm not sure if it's easier to have the baby-money go directly, plus more, or just to a single transfer from our main work-horse account.

      We're also thinking of opening just a saving account for baby that's outside of the education fund for any birthday/christmas money baby gets early on from grandparents. We figure that could be a good way to help him save for maybe his first car or something like that.

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