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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