family and money

All the talk about Yahoo's new maternity leave policy (16 paid weeks!) makes us wonder about maternity leave policies elsewhere in the world. In the US, the Family Leave and Medical Leave Act dictates we should expect at least 12 weeks of unpaid maternity leave. Of course, not all American companies follow that to a T. Some, like Yahoo, provide more generous policies than the required minimum. But as you take a look at the list below, you'll realize that perhaps the tech giant is just catching up to the rest of the world:

1. Sweden: 420 days, 80 percent of paid wages.
2. Denmark: 52 weeks, 100 percent of paid wages.
3. Serbia: 52 weeks, 100 percent of paid wages.
4. United Kingdom: 52 weeks, 90 percent of paid wages.
5. Canada: 52 weeks, 55 percent of paid wages for the first 17 weeks of maternity leave.
6. Croatia: 1 year, 100 percent of paid wages.
7. Albania: 1 year, 80 percent of paid wages before birth and for the next 150 days after birth. For the rest of the maternity leave, you get 50 percent of paid wages.
8. Bosnia and Herzegovina: 1 year, 82 percent of paid wages for the first month, and 75 percent for the rest of the maternity leave.
9. Norway: 46 to 56 weeks, 100 percent of paid wages if you take 46 weeks off but 80 percent if you take 56 weeks off.

With all the happy celebrations and emotions surrounding the impending arrival of a new baby, it can be easy to forget the practical aspects — especially that expanding the family translates to more expenses! Before the little one arrives, parents-to-be often find themselves stocking up on diapers and gear that can tip the financial scales at hundreds to thousands of dollars. But if you're expecting a bundle of joy, don't let pricey baby gear rain on your parade. We're sharing 10 tips to keep costs to a minimum so that you can focus on the most important fact: you're having a beautiful baby!

Note: whenever you buy or borrow used items, do your research ahead of time to ensure that there are no outstanding product recalls and that the items are up to date by today's safety standards.

Register wisely. Left to their own devices, many of your guests will gift you with adorable outfits and stuffed animals for the baby-to-be. If there are items you really, truly need (a car seat, bottles, even diapers), make sure they appear on your registry rather than clothes and toys. Chances are, you'll still end up with a wardrobe's worth of newborn clothes, but you'll be off to a great start with baby necessities, as well!

Put your hand out for hand-me-downs. If you have friends who have kids, know that they are itching to give you baby gear. Within 24 hours after our pregnancy announcement, our friends and family had offered collectively three cribs, half a dozen car seats, and bags upon bags of newborn and toddler clothes. If you're at all concerned about the costs of these items, graciously accept them. You will be able to pay it forward later when other friends have babies of their own!

Rent. If you plan to be a breastfeeding family, a breast pump is a wise investment, not only to let Mom get some sleep from time to time, but also to help increase milk production if Junior is a high-achieving eater. But buying one can run upward of $400! Look to hospitals, clinics, and parenting networks in your area for daily, weekly, and monthly pump rentals, which can help offset the upfront cost of buying one new.

Scour Craigslist. Parents looking to offload their precious gear often turn to online classifieds like Craigslist to recoup some of the cost, so there are great deals to be had. A scan of the listings in my area showed a barely used Petunia Picklebottom diaper bag for $75 (normally $175) and a $900 Bugaboo stroller for $425. As with any online classified purchase, use caution when making the transaction, and meet the seller in a public location.

For six more money-saving ideas, just keep reading.

It's hard to find a job with no experience, so a lot of young people find themselves in a muddle with low job prospects and an empty bank account. This leads many of them to move in with their parents to save money. Our partner LearnVest tackles this topic and gives advice for both the kids and their parents.

40%(!) of adults aged 18-39 are moving in or have moved back in with their parents.

As much as we love our parents, this probably isn’t our idea of a good time (or theirs).

But hey, drastic circumstances call for drastic measures. And there’s a good reason so many are leaning on their folks right now: The unemployment rate for people under 25 is 18% — more than twice the national average.

RELATED: The Best College Majors For Steady Work and High Earnings

This is despite the fact that the American unemployment rate has dropped to its lowest point in the last four years.

The Facts

According to a recent survey by the National Endowment For Financial Education, 40% of American adults ages 18-39 either live at home or did so in the recent past . . . and that's not counting students.

Meanwhile, according to The Wall Street Journal, young people are bearing the brunt of economy-wide wage decreases. Their pay has dropped steadily for the past decade, and men have suffered more than women: The average inflation-adjusted hourly wage for male college graduates ages 23-29 dropped 11% in the past ten years, as compared to the 7.6% decrease for women with the same criteria. In contrast, average hourly wages for the workforce overall have risen slightly in the same time period (although that may be simply because the workers with the lowest pay have left the workforce).

Read on for more.

We're thrilled to present this smart Business Insider story here on Savvy!

Middle-income parents will spend nearly $227,000 in 17 years for children born in 2010, according to the United States Department of Agriculture.

But don't let that scare you — saving for a family can actually be fun if you know what you're doing.

"The most important thing to understand is that your priorities are going to change and your spending habits need to change to reflect those changes," says Stuart Ritter, a financial planner at T. Rowe Price.

With Ritter and other financial experts' help, we'll help you prepare.

Invest in a 529 savings plan

Saving for your child's education is crucial to his or her success, and 529 plans are tax-advantaged college savings accounts that are available in all 50 states.

Most are free to set up, while some states require a minimum of $25 to open an account, says Adam Koos, a certified financial planner with Libertas Wealth Management. Anyone can contribute and take advantage of the tax benefits.

Related: Seven Simple Tips to Help Couples Buy Their First Home

Open the plan before your child is born, says Ritter, and name yourself the beneficiary. You can change the name on the account once your child is born.

Read on for more.

We're thrilled to present this smart LearnVest story here on Savvy!

In the past, LearnVest spoke to parents who chose not to use diapers with their children and dove into the stay-at-home parent debate. This time, one mother shares why she has decided to homeschool her children.

In 2002, we had our third child, 10 years after our second was born. Our eldest two boys were in a private school, but we began to consider the best way to educate our newest addition. Although we loved the school our boys attended, each year cost us about $10,000. We questioned how feasible it would be to put additional kids through there, too.

We had three more children in the following years for a total of six, and with each new baby came further confirmation that putting our four youngest through private school was out of the question financially. Our two eldest were approaching college age, which put even more pressure on us.

The decision was simple. We elected to educate our four youngest at home.

Why Public School Wasn’t an Option

We always knew that we wouldn’t send our children to public school. Parents who opt out of public school do so for many reasons: safety, quality of education, religious conviction, and many others. My husband and I both went to public school, but that was a long time ago, and I don’t know what schools are like today. For us, religion was the main reason. We believe that God gave parents the responsibility to raise, train, and educate their own children. Many parts of the Bible talk about training your children — to us, that includes education.

For more, read after the jump.

We're thrilled to present this smart LearnVest story here on Savvy!

By the last few months of every woman’s third trimester, she’s inevitably faced with one of life’s most intimidating situations: baby shopping.

No matter whether you had your most recent child years ago or are currently expecting, I’m sure you’re familiar with the situation.

You walk into your local baby store brimming with excitement and confidence, ready to stock up for your little one. Ten minutes later, after seeing floor-to-ceiling walls of bottles, swaddling blankets, baby food containers and strollers of every variety, that confidence plummets. Or it morphs into apathy that has you reaching for the chocolate and telling yourself your baby would be fine sleeping in a box.

At least, that’s how it was with me.

Thankfully, you don’t need everything you see at the baby store—nor do you need to be drowning in debt to provide a happy home for your little one. As it turns out, a lot of the items listed on the “must buy for your baby” checklists given out by big box baby stores aren’t essential at all.

If you’re way past the baby stage, share your wisdom with other budding moms in LearnVest Discussions.

As for me, here’s what I’ve found you can skip:

Bottle Sterilizer

Keeping your baby’s bottles germ-free is the best way to prevent infection and upset tummies. But you don’t need to pay upwards of $80 for an electric sterilizer that will take up a lot of kitchen counter space. Instead, try this Munchkin one for $18. It fits all size bottles, takes up no space and sterilizes your feeding accessories in the microwave in three minutes.

Read on for more items to skip.

Living in a multigenerational household is becoming a common solution to dealing with money issues. After all, the benefits are plentiful. There's usually someone to look after the children, which means there's no need for expensive daycare costs, and household and utility expenses can be split up among more people. Further, if someone happens to unexpectedly lose her job, those who can afford it can help to pick up the slack temporarily.

The downside to all of this is the lack of privacy you might experience and the sense of losing your independence and peace of mind. Enter granny flats — a solution that may nip the negative effects of living with your mother-in-law in the bud, says Forbes. Here are some examples of granny flats or secondary suits:

• A separate guesthouse in the yard.
• A converted garage space.
• A basement conversion.
• An attic conversion

Of course, these new attachments or separate structures can cost a lot of money to build, and it's not something everyone can afford. There are also many other factors to consider such as special permits needed to build detached units.