Running a daycare and getting pregnant ! Any one pay into mat leave?? HELP

[Julie]

Hello Ladies,
Me and my hubby are starting to think about baby #3. Was wondering if any of you collected EI (mat leave with your daycare.) Would you recommend it ? Or should I just try to put money aside ? With my daughter things were tough I had people set up to start 3 months after I had my daughter and they backed our 2 weeks before they were suppose to start so financially that sucked. Got to spend more time with my daughter but... $$$$ would have been nice living off just my husband was hard. On him especially. Also how do you go about the mat leave thing ? Thanks to everyone for any advice.

[mickyc]

I pay into EI for self employed. I haven't used it but it would be the same as collecting mat leave from before. You get an amount based on what your income was (after deductions). The thing is you have to pay into it for a full year before you can apply for EI benefits. The max it costs a year is around $800. I think I only pay around $300-$400 a year to pay into it. I pay into it mainly in case I get sick and can't work but it covers mat leave too. Why not pay into EI and save up some money in case people back out on you again.

[5 Little Monkeys]

I do the same as Mickyc. I just signed up for EI last June so I believe I pay it this year at income tax time. I am not sure what I will have to pay.

Does your husband get parental leave with his job?

[Julie]

Yes he does he get two weeks. But we were thinking off him taking paternal leave or whatever it is called. and me going back to work as early as I can as I will have a C section again for #3. it wont be for a year or two just have heard that you can only use it for mat leave and that is it not sick leave or anything ??

[Julie]

When I called the EI people a year or so ago they had told me it is only good for having a baby could not use it for sick or anything ?? How did you go about this. We are not planning for #3 for another year or two. Good to hear you can use it if I get sick.

[mickyc]

Yes it does cover sick time. Here is a link.
http://www.servicecanada.gc .ca/eng/ei/publications/sew_publication.pdf

[Sassygirl]

I think that you really have to weigh out your options.

You could start paying into EI and take the year off paid (well at 55%). There is also the STRONG probability that you would lose all your clients and be starting over once your maternity leave is over.

OR

You could look into only taking a few weeks off and having the hubby take parental leave.

That is what my husband and I decided on. We are due in March with baby #5 - our last baby. It didnt make sense financially for us to pay into EI then lose all my clients who will be leaving in another year to start school anyways. I would rather start all over then and also have my full income coming in. My husband is great with the kiddos. His work thankfully tops up his EI so we will getting 100% for him to stay home. Not something we could easily say no to. He will be off for 7 months and be helping me with the baby while I run the daycare.

Its a big decision but definitely weigh out all the pros and cons.

Good luck:)

[Julie]

Thanks sassygirl we were talking about that option him staying home. off topic question how is it going from 2 3 kids is it hard or pretty easy ?? Im afraid my daughter who is a huge mommies girl is not going to like it to much I don't want her to feel left out you know.

[Sassygirl]

Hi Julie,

Hubby taking leave is probably the best solution all around. Especially if he is good with the kiddos and they all know him well. My hubby is off on Mondays and is also there in the mornings when all the dck arrive so they all know him quite well. It just doesnt make sense for us financially for me to pay into EI then only have 55% for a year then lose all my clients. Makes more sense for me to take my 2 weeks off unpaid and then keep my clients and hubby take parental leave.

As for going from 2-3 kiddos? Was easy peasy. Just get the other kiddos involved in the whole process and be your helpers. Going from 1-2 was the toughest.

[Julie]

Thanks again my mind is at ease now and I'm going go this route. My only problem is that im going to have to have a C section because my last two were as well. So six weeks no lifting. But im sure if I start back slow and with hubbies help I can start back after 4 weeks.

[Crayola kiddies]

I have 5 also and after two you really don't notice ..you just keep adding extra plates to the dinner table