You know that Jordan and I have decided to hold off of buying a home in BC just yet, but I'm not sure if I've shared that we're also holding on selling our home in Alberta. This is for a couple of reasons, but the largest is that it's not a good time to sell with the current oil prices/economy in AB.
There's a few more things there, but I'm not quite ready to share all of that yet. I am though, ready to share our draft baby budget. This is with carrying our home in Alberta, and living in BC with family.
I would really appreciate any thoughts or advice you have!
Onto monthly expenses - these are our normal expenses for maintaining our house in Airdrie. I've reduced the utilities slightly, but not a lot just in case. It will be winter, and while the house won't need to be heated to 20, it will need to stay at 10 Celsius so pipes don't freeze.
We'll still have cell phones, though our contracts are up for renewal in November so there will hopefully be a smaller bill by the end of the year.
We still have the car payment, mortgage, and our LOC payments. I'm leaving our monthly spending at $1,700 (what it is now) because while we'll spend less on gas etc. with me at home, I'm assuming their will be baby expenses that will balance that out.
My employer will keep all my benefits going, I just have to pay for my Long Term Disability premium (which I'm happy to do).
We're able to keep doing some of our planned saving/spending, but at a much lower rate.
For the first 15 weeks of my maternity leave, my employer 'tops up' my EI to 70% of my salary. That means that we'll have approximately an additional $900/bi-weekly during that time. My plan is to bank all of that money - but maybe it would be better to drop that all on the LOC (~$6750 total) or maybe to add to our vacation or emergency funds?
What do you think?