The little corner of the world in which I live tends to be fairly insulated against the ups and downs of the coasts and large cities of the nation. We've seen some layoffs, a couple of our larger companies cut employees and a couple close altogether. Not enough to get anyone seriously worried. Especially me.
Apparently it's a little worse than I thought out here. The hospital for which I work informed everyone today that we are all receiving paycuts effective the next pay period. Mine will be 4.75% decrease in wages plus the loss of 5 days of sick leave (or paid time off as we call it) for the year. Talk about a sock in the gut. I never saw it coming and I've been recovering from it all day.
Granted I'm thankful I have a job, I truly am. I'm in this low paying job in an attempt to earn a spot in nursing school, not because I have to be there. But wow, is this going to hurt. This will shear about $150 per month off my gross pay. Not to mention that we're in a hiring freeze, so the employees that have resigned recently combined with the wages decrease means that I am now handling more patients for less money.
Seriously? I could make more working at McDonald's now.
If they were hiring that is.
Tuesday, February 24, 2009
Monday, January 26, 2009
A First Step
Well, I finally got off my butt and opened up an online saving account. So which did I choose? INGdirect of FNBO?
Actually my crummy credit made the choice for me. I initially tried FNBO but they turned me down for an online savings account. So to INGdirect I went with great fear and trepidation but apparently they like my money more than my credit and I was in! I moved $5000 out of my checking and into my new online account. 2.39% interest is much better than 0.05%.
On another front, I sat down last night with all of my tax information and entered it into TaxAct. I knew that withdrawing my retirement would bite me and it did, but not as badly as it could have. I won't have to pay any in and should actually get around $1900 back. That's a steep cut for someone who's used to getting around $4500 back each year. That retirement withdrawal kicked my adjusted gross income up to $48000 for 2008.
I wish I could have done things differently but that withdrawal saved my a** in 2008. I essentially went 4 months without a paycheck. Had it not been for that money I honestly don't know how I would have paid my bills. Yes I worked during some of those four months but I wound up making less than $1000 for the time I worked at the restaurant and didn't get paid until December for the hospital work I did in November. That retirement carried me through those months, paid for a few unpaid bills (still lots more of those to go through), saw me through Christmas, paid for this semester's college tuition and books, and what's left is in savings.
Where I'm at now?
~ $1000 in my brick and mortar bank savings
~ $5000 in online savings
~$500 cash savings
~ an average paycheck of $600 every two week
~ $600 per month in child support.
Bills:
~$1000 for mortgage/utilities/food
~$245 car payment
~$106 student loan payment
~$68 car insurance
~$75 automatic savings withdrawal
~$40 cell phone (teenage daughter's)
~$60 cell phone every 3 months (my prepaid and kid's prepaid) or $20/month
~$80 fuel for car
This leaves roughly $166 per month for miscellaneous/bill payments. I'm debating requesting a deferment on my current student loan payment as I'm now back in school again. I also have $50 from each paycheck withdrawn for my flex account to cover doctor co-pays and medicine. I know that once we start with the rheumatology appointments for Anime that money is going to go fast.
I started getting organized with my paperwork. Started being the key word. Things are sorted but I still have not written them all out on paper to total the amount of medical bills owed. Yes, I know that needs to get done asap.
At least through my job at the hospital we have health and dental insurance at an affordable rate. I also pay $10 a month for life insurance. My main worry right now is that Mr. Ex would not be able to pay his child support. I really hate being dependent upon that.
I think I need to sit down and write an About Me post to summarize where I've been financially in my life. But first I should total up that debt, don't you think?!
Actually my crummy credit made the choice for me. I initially tried FNBO but they turned me down for an online savings account. So to INGdirect I went with great fear and trepidation but apparently they like my money more than my credit and I was in! I moved $5000 out of my checking and into my new online account. 2.39% interest is much better than 0.05%.
On another front, I sat down last night with all of my tax information and entered it into TaxAct. I knew that withdrawing my retirement would bite me and it did, but not as badly as it could have. I won't have to pay any in and should actually get around $1900 back. That's a steep cut for someone who's used to getting around $4500 back each year. That retirement withdrawal kicked my adjusted gross income up to $48000 for 2008.
I wish I could have done things differently but that withdrawal saved my a** in 2008. I essentially went 4 months without a paycheck. Had it not been for that money I honestly don't know how I would have paid my bills. Yes I worked during some of those four months but I wound up making less than $1000 for the time I worked at the restaurant and didn't get paid until December for the hospital work I did in November. That retirement carried me through those months, paid for a few unpaid bills (still lots more of those to go through), saw me through Christmas, paid for this semester's college tuition and books, and what's left is in savings.
Where I'm at now?
~ $1000 in my brick and mortar bank savings
~ $5000 in online savings
~$500 cash savings
~ an average paycheck of $600 every two week
~ $600 per month in child support.
Bills:
~$1000 for mortgage/utilities/food
~$245 car payment
~$106 student loan payment
~$68 car insurance
~$75 automatic savings withdrawal
~$40 cell phone (teenage daughter's)
~$60 cell phone every 3 months (my prepaid and kid's prepaid) or $20/month
~$80 fuel for car
This leaves roughly $166 per month for miscellaneous/bill payments. I'm debating requesting a deferment on my current student loan payment as I'm now back in school again. I also have $50 from each paycheck withdrawn for my flex account to cover doctor co-pays and medicine. I know that once we start with the rheumatology appointments for Anime that money is going to go fast.
I started getting organized with my paperwork. Started being the key word. Things are sorted but I still have not written them all out on paper to total the amount of medical bills owed. Yes, I know that needs to get done asap.
At least through my job at the hospital we have health and dental insurance at an affordable rate. I also pay $10 a month for life insurance. My main worry right now is that Mr. Ex would not be able to pay his child support. I really hate being dependent upon that.
I think I need to sit down and write an About Me post to summarize where I've been financially in my life. But first I should total up that debt, don't you think?!
Sunday, January 18, 2009
Financial Aid/Dependence
I am officially a college student once again. You can read about it over here. Since I am running behind, my financial aid package isn't processed yet. I wrote a check out on Friday for $1536 for 7 credits. OUCH! Add in the costs of textbooks to the tune of $402 for a total of $1938 spent in one day.
I'm debating now as to whether or not to take the full amount of the loan I'm offered. The preliminary figures suggest that I will be offered a subsidized loan somewhere around $5000 dollars with roughly a 6% interest rate. My initial plan was to take only what I needed to cover this semesters costs. However, Mr. Ex has recently informed me that he left his current job to open up a start-up company and that finances will be fairly tight for him for the next several months.
This puts me in a bind. I now depend upon his child support to make sure bills are paid and the kid's needs are met. If he were even to be late with his child support it would throw my finances into an even bigger mess. Now I'm wondering if I should take the full loan amount and bank the difference in the event the Mr. Ex has financial problems. This is part of my push to go back to school . . . so that I don't ever have to be dependent on someone else financially. I'd ultimately like to be able to take what he send for child support, split it by thirds, and bank the money for each child. Right now that isn't an option but my goal is to make it a reality.
I'm debating now as to whether or not to take the full amount of the loan I'm offered. The preliminary figures suggest that I will be offered a subsidized loan somewhere around $5000 dollars with roughly a 6% interest rate. My initial plan was to take only what I needed to cover this semesters costs. However, Mr. Ex has recently informed me that he left his current job to open up a start-up company and that finances will be fairly tight for him for the next several months.
This puts me in a bind. I now depend upon his child support to make sure bills are paid and the kid's needs are met. If he were even to be late with his child support it would throw my finances into an even bigger mess. Now I'm wondering if I should take the full loan amount and bank the difference in the event the Mr. Ex has financial problems. This is part of my push to go back to school . . . so that I don't ever have to be dependent on someone else financially. I'd ultimately like to be able to take what he send for child support, split it by thirds, and bank the money for each child. Right now that isn't an option but my goal is to make it a reality.
Friday, January 2, 2009
A Very Untrained Slayer
I'm ashamed to say that the amount of debt slayage for 2008 equals zero.
The amount of debt increase is yet to be determined. Many medical bills were accrued throughout the latter part of 2008. Lack of health insurance and a sick child will do that to you.
Happily, we now have some health insurance in effect with my new job. I received the cards in today's mail! While that relieves some stress, it's not going to cover a whole lot of potential medical bills coming up. I've made the decision to apply for the Children's Health Insurance Plan that all states offer to qualifying families. Here's hoping that we qualify.
My mission, should I accept to choose it, is to face reality and quit playing ostrich, and total up the amount owed to all parties, medical and otherwise. I have to admit that this really scares me. If I don't do it, though, then I'm not being responsible with what money I do have, and I'm not setting a good example for my kids to follow.
I will be adding more debt in 2009. I will be taking out loans to go back, yet again, for another degree, this one in nursing. The big battle though, is facing my fear of money, and working through that fear. This is the year that I need to begin slaying those financial demons.
The amount of debt increase is yet to be determined. Many medical bills were accrued throughout the latter part of 2008. Lack of health insurance and a sick child will do that to you.
Happily, we now have some health insurance in effect with my new job. I received the cards in today's mail! While that relieves some stress, it's not going to cover a whole lot of potential medical bills coming up. I've made the decision to apply for the Children's Health Insurance Plan that all states offer to qualifying families. Here's hoping that we qualify.
My mission, should I accept to choose it, is to face reality and quit playing ostrich, and total up the amount owed to all parties, medical and otherwise. I have to admit that this really scares me. If I don't do it, though, then I'm not being responsible with what money I do have, and I'm not setting a good example for my kids to follow.
I will be adding more debt in 2009. I will be taking out loans to go back, yet again, for another degree, this one in nursing. The big battle though, is facing my fear of money, and working through that fear. This is the year that I need to begin slaying those financial demons.
Sunday, November 9, 2008
Do You Skype?
Now that I'm (almost) rid of a monthly cell phone bill I need a less expensive option for long distance calls than using our land line provider. Mr. Irony discovered Skype when we first started dating and switched over to this service for all long distance. He determined that it saved him several hundreds of dollars in long distance charges during the course of our long-distance relationship.
The vast majority of family that I care to talk to are now long distance for me to call. This is where Skype comes in. I have the option of paying as I go or paying a monthly fee of $2.95 to make computer to land line calls. If I were to call other Skype users it would be free of charge.
I'm downloading it today and we'll see how it goes. I'll keep you informed as I learn more about the service.
The vast majority of family that I care to talk to are now long distance for me to call. This is where Skype comes in. I have the option of paying as I go or paying a monthly fee of $2.95 to make computer to land line calls. If I were to call other Skype users it would be free of charge.
I'm downloading it today and we'll see how it goes. I'll keep you informed as I learn more about the service.
Friday, October 31, 2008
Avoiding the Early Termination Fee
About two weeks ago I decided to say goodbye to Alltel and pony up the $200 termination fee to rid myself of an expensive commitment (smart phone cell plan). I called the company to end the contract and was transferred over to a very nice young man by the name of Joseph. Joseph did his best to convince me not to end the contact. When he realized that wasn't going to work he pointed me in a different direction, one that I didn't know existed. He informed me that I could find someone to take over the existing contract, thus relieving myself of the monthly expense and circumventing the $200 termination fee.
I immediately placed (free) ads on a local site and craigslist. It didn't take long before I found someone willing to accept this exchange. So, long story short, as of yesterday I am out of the contract for no extra fees!
I still have the second line on the Alltel account. It would have been an additional $200 to terminate that line also. Since that contract expires at the beginning of December it is simply cheaper for me to continue that plan for another month and then cancel it for no cost. I dropped it to the lowest plan available and will say goodbye to Alltel for good come December.
It was surprisingly easily to transfer the phone line. I guess they're just happy that they'll be socking someone else for the ridiculous amount I was paying. I have purchased my new Net10 Phone (package deal of $25 for the phone, a case, headset, and car charger + 300 free minutes at W***mart) and feel a bit lighter knowing that this monthy cell phone bill will soon be gone. A big thanks to Joseph for showing me a no cost way of eliminating this expense!
I immediately placed (free) ads on a local site and craigslist. It didn't take long before I found someone willing to accept this exchange. So, long story short, as of yesterday I am out of the contract for no extra fees!
I still have the second line on the Alltel account. It would have been an additional $200 to terminate that line also. Since that contract expires at the beginning of December it is simply cheaper for me to continue that plan for another month and then cancel it for no cost. I dropped it to the lowest plan available and will say goodbye to Alltel for good come December.
It was surprisingly easily to transfer the phone line. I guess they're just happy that they'll be socking someone else for the ridiculous amount I was paying. I have purchased my new Net10 Phone (package deal of $25 for the phone, a case, headset, and car charger + 300 free minutes at W***mart) and feel a bit lighter knowing that this monthy cell phone bill will soon be gone. A big thanks to Joseph for showing me a no cost way of eliminating this expense!
Wednesday, October 22, 2008
MSN Money and Me
Who knew that a simple comment could drive site traffic so high?
The other day I commented on the blog Student Scrooge. The post was in regards to tipping and the practices used by servers to increase their tips. I don't comment a lot but this was one post I felt I had the knowledge with which to back up my comment. What I didn't know was that this post would be used by Karen Datko on MSN Money in her post dated October 21st. Or that she would choose my comment to be included as part of her post.
The lesson? Words are forever. You never know how they will be used, good or bad, so think about what you say (or write) before it comes out of your mouth.
While I'm tickled to be included in this article, I'm also happy that what I wrote was not something that could come back to haunt me. Not to mention that I enjoy looking at my site meter to see where all of these visitors to my little site are from.
The other day I commented on the blog Student Scrooge. The post was in regards to tipping and the practices used by servers to increase their tips. I don't comment a lot but this was one post I felt I had the knowledge with which to back up my comment. What I didn't know was that this post would be used by Karen Datko on MSN Money in her post dated October 21st. Or that she would choose my comment to be included as part of her post.
The lesson? Words are forever. You never know how they will be used, good or bad, so think about what you say (or write) before it comes out of your mouth.
While I'm tickled to be included in this article, I'm also happy that what I wrote was not something that could come back to haunt me. Not to mention that I enjoy looking at my site meter to see where all of these visitors to my little site are from.
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