Congrats if you're expecting! Things are about to change in a major way, especially if you are a first-time parent. And if you are employed, you will most likely be looking into maternity or paternity leave once the baby arrives. Bonding time, recuperation, feedings, diaper duty, and so on will fill your days and keep you up at night. But before you plan your leave, there are some things you should know. Let's delve in to five parental leave concerns so you are well-prepared and squared away leaving you better able to concentrate on your newest family member.
And baby makes three...unsplash.com
You Probably Won't Get Paid
Some people are lucky to work for a company that pays them while they are out on parental leave, but this isn't the norm. According to Fairygodboss, "American women working in the U.S. who take leave are not guaranteed any benefit payments from the federal government. In fact, most receive no pay during their leave and instead rely on federal parental leave law (Family and Medical Leave Act or FMLA) to protect their job for up to 12 weeks."
That said, everything is usually up for discussion. Parents suggests, "You may have to negotiate your way to a plan you and your employer can both agree on that will allow you the time off you need to physically and emotionally be ready to return to work without putting your family under financial strain."
Another option? Nolo recommends exercising your "right to use your accrued vacation or sick pay during your FMLA leave, as long as you meet the other requirements of your employer's policies."
It's Not Just for Women Who Have Recently Given Birth
When we think of taking time off for a new baby, for the most part, new moms come to mind first. But mothers and fathers reserve the right to partake in FMLA, as "family" is what this act is all about. Real Simple points out, "You don't have to be pregnant to qualify either: this applies to both mothers and fathers and can be used for those who are adopting or must take care for a sick relative."
Fairygodboss adds, "Parents – both men and women – are eligible for this leave within one year of welcoming a new child."
Times have changed over the decades, and families are created and function in all sorts of ways today. Naturally, a woman who recently gave birth has additional challenges, but caring for an infant takes lots of work, something all new parents will face – FMLA making it possible for either parent (or both) to partake in.
You Can Stagger Your Leave
The 12 weeks you are entitled to doesn't have to be used up in one stretch. You can take these weeks throughout the 12-month period you work out with your employer. According to The Bump, "If you have pregnancy complications, you might want or need to take some time off before baby arrives. The rest can be taken anytime over the 12-month period."
Real Simple adds, "You can take intermittent leave in which you leave for a while, return, and then take more leave. You can even work part-time until you've taken the equivalent of 12 weeks off."
Staggering your leave can be useful by "trading off" with your partner if they can take leave too. You'll also be back and forth at work, so you can stay in the loop and on top of projects without being absent for huge chunks of time.
You are Not Necessarily Entitled to Leave
But what about FMLA? See, that all depends on how long you have been employed at your current job and how many people work for the company. Too little time put in at a company means they aren't obligated to give you leave. As Real Simple explains, "Your employer doesn't have to give you family leave if you've worked at the company for under a year, or if you've worked fewer than 1,250 hours during that year. A company is also exempt if it has fewer than 50 employees."
Before you regret working for that small start-up, note, "You may still be entitled to a leave, albeit a shorter one, under the 1978 Pregnancy Discrimination Act. That law, which covers companies with 15 or more workers, requires employers to treat pregnant employees the same as any other disabled worker," as per Parents.
You'll Need to Get Yourself Ready for Return
After up to 12 weeks away from work, you're going to be more skilled at parenting, but a bit rusty when it comes to work. You've been busy with baby but the "show must go on," and your co-workers have been at it in your absence. To pick up where you left off, you'll need to prepare yourself for the challenge.
The founder of AaronB Fitness, an American Council on Exercise-certified personal trainer for over 17 years has important advice. "You should realize that gearing up mentally and physically to return to the office after a long stay at home with the baby is challenging. But you can prepare for it. You've probably lined up help to look after the baby once you return to the office. Take advantage of that a week or two sooner to allow you to get some physical activity back into your routine, such as a morning walk or jog, or a class at the gym. And try to get on a regular bedtime/wake-time schedule that will match your schedule when you're back to work. Do those two things ahead of time and you'll hit the ground running when you return to the office."
Welcome to the world!unsplash.com
Your leave will give you those much-needed initial weeks with your new child. Learn what your company's policies are, what you are able to manage for your family, and how you will transition during this process. Welcome to the family!
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.
My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.
In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.
We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.
I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.
One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.
Here are 5 reasons why we are obsessed with horse racing thanks to TVG:
1. Betting has never been easier
Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.
2. The biggest selection of horse races out there
If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.
3. Get a generous sign-up offer when you place your first bet
Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.
4. Making deposits and cashing out at the touch of button
With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!
5. Watching live races with your friends while betting is exhilarating
Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.
With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.
TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.
The races just keep ramping up and thanks to TVG, I can always get in on the fun.