My wife and I just closed on our dream home — only to realize after all the bills are paid, we’re left with $200/month while she’s on mat leave. We have $80K in savings, but is it enough?

1. Build a bare-bones budget around any surplus

When your financial margin is razor-thin, every dollar counts. The first step? Create a strict budget where every dollar has a job and no money goes to waste.

The couple should:

• Break down fixed expenses like mortgage payments, insurance and utilities.
• Track variable costs including groceries, gas, baby supplies and subscriptions.
• Eliminate non-essentials like takeout, streaming services or unused memberships.

Budgeting apps can help visualize spending and find areas to trim. Even cutting $50 here or $100 there can stretch that $200 into something more sustainable.

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2. Treat $80K like a six-month lifeline

Their $80,000 in savings is a huge asset — but it needs to be used wisely.

Here’s a potential breakdown:

• $10,000 Emergency Fund: Set this aside and don’t touch it unless it’s a true emergency, like job loss or a major medical expense.
• $20,000–$30,000 Maternity Leave Cushion: Use this as a buffer for the next six months. That’s roughly $3,300–$5,000 per month to help fill in gaps while they’re living on one income.
• $40,000+ Long-Term Savings: Keep this intact for future goals like investing, education or improvements. Don’t dip into it unless absolutely necessary.

Assigning a purpose to each dollar can help the couple spend confidently without jeopardizing their long-term financial stability.

3. Find temporary ways to boost cash flow

With one income on hold, now’s the time to get creative. Some short-term strategies include:

• Starting a side hustle — something low-commitment like freelancing, tutoring or delivery apps.
• Selling unused items. Many people have barely-used goods that could bring in extra income.
• Leveraging cash-back items. When used responsibly and paid off in full, rewards cards can stretch everyday spending.
• Delaying major purchases like furniture upgrades, vacations or large discretionary buys until the budget loosens up.

They could also consider adjusting tax withholdings. If they usually receive a large tax refund, reducing withholdings could boost their monthly income.

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4. Plan for post-maternity leave finances

This tight stretch won’t last forever.

Once both partners are working again, the couple should shift their focus from surviving to thriving. That means:

• Budgeting for child care now, since it can significantly reduce net income.
• Replenishing any money used from the cushion fund.
• Resuming long-term saving and investments — whether for retirement or their child’s future.

They may also benefit from speaking with a financial advisor to map out a long-term strategy.

If they can get through this tight stretch without touching their emergency fund or long-term savings, they’ll emerge stronger and more financially resilient. Being house poor doesn’t have to be a life sentence. With disciplined budgeting, a smart savings plan, and short-term income boosts, this couple can navigate the squeeze — and still build the future they’ve dreamed of.