|
wintermuteCF posted:OK, priority 1 is to build a buffer in the form of a savings account or sub-account to your checking that holds rainy day funds. Build this before you pay down your car at an accelerated rate. You say you have a $4000 surplus per month - or will, once you move to the cheaper place - so you should be able to build this pretty fast. I would consider putting away 3mo of base expenses (no frivolous poo poo) and then attack the loan with gusto, and then build the efund to 6mo *including* frivolous poo poo. Full living expenses. What's the downpayment match lookin like now? That is you, right?
|
#
?
May 29, 2014 00:38
|
|
|
|
| # ? May 10, 2024 19:28 |
|
|
Inept posted:Sounds like my experience with lease breaking is different than the norm. It might be because I only ever dealt with small time landlords, not rental property companies. Total cost of ownership might be lower. Car is more fuel efficient, only one car driven equals less fuel expense, an old truck could have had big repair bills in the unforeseen future. I would have paid them off and eaten the difference and bought a cheap car, but this isn't the worst possible thing. At least he bought something economical and reliable.
|
|
#
?
May 29, 2014 03:11
|
|
|
wintermuteCF posted:OK, priority 1 is to build a buffer in the form of a savings account or sub-account to your checking that holds rainy day funds. Build this before you pay down your car at an accelerated rate. You say you have a $4000 surplus per month - or will, once you move to the cheaper place - so you should be able to build this pretty fast. I will do my best to follow this. Thank you. SiGmA_X posted:Agreed all around. The whole point of a 'buffer' isn't to allow erroneous spending, but to cover emergencies. I actually run both a buffer and efund category, as I find it too easy to say 'it's okay, that's what my buffer is for'. So I have 1 months expenses in my efund, and a small small amount in my buffer. Frequently the buffer gets pillaged for overruns, but the efund never gets touched. I apologize for the ignorance, but what is an efund? Erroneous fund? Also the downpayment match is me yes. My grandma actually just came up with a new proposal today out of the blue which is she'll match everything I put into a joint savings account with her 100% up to the 20k match. So if we put in 20k she'll match that. No more strings attached, except (and I'll need to clarify this) she may insist on it all going towards a house and the relevant furnishing and moving expenses. Edit nevermind it's emergency fund 
Knyteguy fucked around with this message at 04:59 on May 29, 2014 |
|
#
?
May 29, 2014 04:57
|
|
|
Good job forgetting the thread and running off to make more lovely financial decisions.
|
|
#
?
May 29, 2014 05:37
|
|
|
Buying a new car was a really bad decision... Why would you do that?
No Wave fucked around with this message at 13:12 on May 29, 2014 |
|
#
?
May 29, 2014 13:02
|
|
|
No Wave posted:Buying a new car was a really bad decision... Why would you do that? I agree with this. How is getting a brand new car the right answer to money problems?
|
|
#
?
May 29, 2014 13:39
|
|
|
wintermuteCF posted:OK, priority 1 is to build a buffer in the form of a savings account or sub-account to your checking that holds rainy day funds. Build this before you pay down your car at an accelerated rate. You say you have a $4000 surplus per month - or will, once you move to the cheaper place - so you should be able to build this pretty fast. I can agree with getting an emergency fund before paying off the car, but I'd argue for a smallish one ($2k-$5k or so?). The car loan is 10.99%, that's still a lot. After the loan is paid down/off, then swing back around to finish the efund. A few things Knyghtguy: 1) Congrats to your wife on her new job, and her soon to be very short commute, those are both great things. 2) While the decision to buy a new car wasn't the best (ideally you would have fixed and sold your current cars and bought a decent cheap used car), sometimes the perfect is the enemy of the good, so good job turning a terrible situation into a fine situation. That said... 3) Negotiating by interest rate rather than lowest overall price for the car might not be the mathematically correct way to do it, if you're really planning on paying the loan off in 8 months. Again, water under the bridge, but something to think about for the future. 4) Congrats on dodging a bullet. If you had came back to the thread as a proud owner of a PT Cruiser (aka one of the worst cars of the last 15 years), I would have been very sad. All things considered, good work. You're definitely moving in the right direction. Keep it up, keep learning from your mistakes, and remember it's a marathon, not a sprint. 1 small piece of advice going forward: With bigger purchases (such as a possible house w/ Grandma's matching funds), it seems like sometimes you get blinders on, and focus more on 1 thing, like meeting the date, or lowering your interest rate, and not the big picture. When you were buying a car, you wanted a car with a lower interest rate. You could have ended up with a PT Cruiser. Take things slow, research the hell out of the thing you're doing, and buy it when YOU'RE feeling prepared and ready, not when other people want you to.
|
|
#
?
May 29, 2014 13:46
|
|
|
Grumpwagon posted:1 small piece of advice going forward: With bigger purchases (such as a possible house w/ Grandma's matching funds), it seems like sometimes you get blinders on, and focus more on 1 thing, like meeting the date, or lowering your interest rate, and not the big picture. When you were buying a car, you wanted a car with a lower interest rate. You could have ended up with a PT Cruiser. Take things slow, research the hell out of the thing you're doing, and buy it when YOU'RE feeling prepared and ready, not when other people want you to. This is excellent advice, Knyteguy. If I may piggyback on it, I would say you need to be comfortable with asking for help or advice sometimes. You have a lot of people who want to help you in this thread, and we would have been happy to advise you and steer you in the right direction, but you didn't consult us. OK, we're 'internet people', most people wouldn't think to ask an internet forum if buying a new car is a good idea, but we really do want to help. But whether it was a good decision or not (I think it's kind of a wash, really), it's done, and it's not worth pointing fingers or blame. It'll all work out for you guys if you get back on track and stay diligent (and don't fall back into bad spending habits).
|
|
#
?
May 29, 2014 15:44
|
|
|
Grumpwagon posted:I can agree with getting an emergency fund before paying off the car, but I'd argue for a smallish one ($2k-$5k or so?). The car loan is 10.99%, that's still a lot. After the loan is paid down/off, then swing back around to finish the efund. Hah. Right on. I didn't realize the PT Cruisers were so terrible... so that's good. You're correct regarding #3; we just didn't have a fully fleshed out plan when we went in there. I think you're right that I do tend to concentrate on one point, so I'll try to work on that. Thanks. Also cool quote. wintermuteCF posted:This is excellent advice, Knyteguy. If I may piggyback on it, I would say you need to be comfortable with asking for help or advice sometimes. You have a lot of people who want to help you in this thread, and we would have been happy to advise you and steer you in the right direction, but you didn't consult us. OK, we're 'internet people', most people wouldn't think to ask an internet forum if buying a new car is a good idea, but we really do want to help. Definitely right as well. I'll start consulting you guys more.  There's not going to be a ton of wiggle room for us financially in the next couple of month, but I want to start implementing some more frugality in our lives. First step is I'm cancelling a golf trip with a friend (but likely switch it with something else), because I don't think golf is a good way to start off anew. We were able to save like $5-6,000 in just a few months before, so we can do it again (and more of course!). The straight up stress of being back to paycheck-to-paycheck sucks. Plus I've been looking forward to opening a drat Vanguard index account for over half a year now, and that's something I really want to accomplish. That's kind of my end goal right now.
|
|
#
?
May 29, 2014 16:48
|
|
|
So... wife is pregnant. We're already set to get that apartment. We ended up going for a 2 bedroom for ~$765.00 / mo instead of the 1 bedroom. It looks like it's a good thing we did. Any ideas how we should change up the game plan? Edit: I put the rent at about $100 more than it actually is  .
Knyteguy fucked around with this message at 21:21 on Jun 11, 2014 |
|
#
?
Jun 11, 2014 21:09
|
|
|
Knyteguy posted:So... wife is pregnant. You do know that doesn't just happen right?
|
|
#
?
Jun 11, 2014 23:08
|
|
|
spwrozek posted:You do know that doesn't just happen right? Accidents happen. Condoms break, pills can fail. Unless one of them has their tubes tied or she has an IUD, it could have been a mistake. Well, now you have 9 months to start planning ahead for the baby. Start saving like crazy so her maternity leave doesn't screw you with the reduced income, and please for the love of god resist the temptation to buy all-new stuff for your baby. Be frugal with your baby items, know that a lot of the things people go "OMG YOU MUST GET THE DIAPER WIPE WARMER OR THE BABY WILL FREAK OUT OVER ROOM TEMP WIPES" is bullshit intended to get you to buy more poo poo, and get hand-me-downs from family whenever possible.
|
|
#
?
Jun 11, 2014 23:12
|
|
|
wintermuteCF posted:Accidents happen. Condoms break, pills can fail. Unless one of them has their tubes tied or she has an IUD, it could have been a mistake. This is just what people tell them selves. There is a short window each month and you can easily avoid it. I know people who use the temp method and no protection and have been baby free for years and years.
|
|
#
?
Jun 11, 2014 23:26
|
|
|
Ask relatives who are done having kids for baby stuff. Look on craigslist for baby stuff. It will be many years before your kid cares that stuff is used or not.
|
|
#
?
Jun 11, 2014 23:44
|
|
|
spwrozek posted:This is just what people tell them selves. There is a short window each month and you can easily avoid it. I know people who use the temp method and no protection and have been baby free for years and years. And I know people who get pregnant if somebody jacks off in the next room. Now what? Good luck, knyteguy, keep truckin along and don't raise that kid in a squalid hellhole because you can't stay in control of your money.
|
|
#
?
Jun 12, 2014 00:00
|
|
|
slap me silly posted:And I know people who get pregnant if somebody jacks off in the next room. Now what? Hey man at least he's not Zaurg..... Oh wait... oh  Hey Knyte is there a way to see a report on your current status? Progress made car re-consolidated and all that fun stuff? I know you did a lot of things but it's easier to parse with hard numbers.
|
|
#
?
Jun 12, 2014 00:51
|
|
|
quote:Baby accident We were trying to have a baby actually. It wasn't really a decision we made because of financials either way. Worst comes to worst we have lots of family to fall back on (which we're truly lucky to have). I have friends who can get me in a warehouse job with a pay of $11/hr if necessary as well. We're really going to work hard on getting the emergency fund pumped up, though. Cicero posted:Ask relatives who are done having kids for baby stuff. Look on craigslist for baby stuff. It will be many years before your kid cares that stuff is used or not. wintermuteCF posted:Well, now you have 9 months to start planning ahead for the baby. Start saving like crazy so her maternity leave doesn't screw you with the reduced income, and please for the love of god resist the temptation to buy all-new stuff for your baby. Be frugal with your baby items, know that a lot of the things people go "OMG YOU MUST GET THE DIAPER WIPE WARMER OR THE BABY WILL FREAK OUT OVER ROOM TEMP WIPES" is bullshit intended to get you to buy more poo poo, and get hand-me-downs from family whenever possible. Thanks I'll try to keep a lookout for used things and try not to be blind when it comes to baby stuff  .Luckily the aforementioned family will definitely help us out during the baby shower. My sister in law likely has a ton of helpful items to pass down too. These two articles tie into the reason we decided it was okay to have a baby, as well as why I don't think we'll spend a gazillion dollars on baby stuff (relating to wintermute's and Cicero's points): http://www.mrmoneymustache.com/2011/05/26/what-is-the-real-cost-of-raising-children/ http://www.mrmoneymustache.com/2011/09/09/mrs-money-mustache-what-do-newborn-babies-really-need/ slap me silly posted:And I know people who get pregnant if somebody jacks off in the next room. Now what? Hell no dude (squalid hellhole). It's time to give 100% because it's not just the two of us anymore. I think we'll be able to mostly stay on track to getting a house which is half the point of moving into this semi-ghetto (but safe) apartment place. Ideally the kid has to live there for about 5 months until the lease is up, and then we have the car paid off and we're nearly ready for a 30% down payment on a $120,000 house. And thanks. Veskit: Sure. I'll try to post some hard data soon. Really though there's not going to be a lot going on until mid July, except that we're going to start selling possessions we won't need or can't realistically have in a small apartment.
|
|
#
?
Jun 12, 2014 00:58
|
|
|
Congratulations. I'm really happy for you. New babies for first time parents are awesome. Enjoy it.
|
|
#
?
Jun 12, 2014 05:09
|
|
|
spwrozek posted:This is just what people tell them selves. There is a short window each month and you can easily avoid it. I know people who use the temp method and no protection and have been baby free for years and years. Not all women cycle regularly. I definitely ovulate pretty randomly (I can tell because I get mittelschmerz - literally ovulation pain) And IUDs aren't even 100%. I've got a good depenable friend who got pregnant with a paragard in. You may know some people who've done it perfectly but the vast majority of people will end up with babies.
|
|
#
?
Jun 12, 2014 05:43
|
|
|
something clever posted:Congratulations. I'm really happy for you. New babies for first time parents are awesome. Enjoy it. Thanks. I'm extremely nervous and I was completely shocked. I hope I can be a good parent. Part of that will hopefully be teaching my kids---by example as well as small lessons---some fiscal responsibility. Hopefully he/she will listen better than I did growing up .I'm not going to post our budget until July because frankly I'm embarrassed by our current situation and I know what we need to do. I think we'll need some help come July though, because we'll have some new excess. Here's some hard data that I promised. June Cashflow Changes code:
|
|
#
?
Jun 12, 2014 05:55
|
|
|
For as broke rear end as you are the amount your are spending on a car is an absolute killer. You should figure out how you can pay CASH for a car as soon as possible and get something that is cheap to insure.
|
|
#
?
Jun 12, 2014 14:20
|
|
|
n8r posted:For as broke rear end as you are the amount your are spending on a car is an absolute killer. You should figure out how you can pay CASH for a car as soon as possible and get something that is cheap to insure. We're definitely broke but we can pay the car payment without some huge burden. We've been doing it for over a year now and it just got cheaper. Net Income: Me: $3805 Wife: $1842 (bare minimum) --- $5647.00 Net Mandatory Expenses - May (Not including car payment): $3007.00 Difference: $2647.00 Also we just reduced net mandatory expenses by $965. Knyteguy fucked around with this message at 16:24 on Jun 12, 2014 |
|
#
?
Jun 12, 2014 16:22
|
|
|
You're like SloMo. You like posting snipit's of data and it's hugely annoying.
|
|
#
?
Jun 12, 2014 21:10
|
|
|
SiGmA_X posted:You're like SloMo. You like posting snipit's of data and it's hugely annoying. Veskit posted:Hey Knyte is there a way to see a report on your current status? Progress made car re-consolidated and all that fun stuff? I know you did a lot of things but it's easier to parse with hard numbers. Edit Also SloMo? Alright let's take it easy on the insults I know I've been financially stupid but that's going a bit far don't you think  ?
Knyteguy fucked around with this message at 22:07 on Jun 12, 2014 |
|
#
?
Jun 12, 2014 21:42
|
|
|
Knyteguy posted:Edit Also SloMo? Alright let's take it easy on the insults I know I've been financially stupid but that's going a bit far don't you think Technically we said you're acting like Slow Motion, which isn't technically an insult  Knyte you posted a tiny window of what is a large system. You took a snippet of what you wanted us to see but didn't give us the full ugly picture. You're showing everyone that you don't have a real budget, and you're doing head math to go over in thinking what we want to hear, just like after the fact with the car telling us well it's cheaper now! It's been 7 months since you've started this thread, and if that's your idea of what "hard numbers" are, I'm unsure if you're trying to pull the wool over our eyes knowing what you're doing is wrong, or that you clearly haven't learned enough on how to manage your money. I'm stupid is the worst excuse for a person. It's gross. Knyteguy posted:We're definitely broke but we can pay the car payment without some huge burden. We've been doing it for over a year now and it just got cheaper. This doesn't mean anything if you're spending the difference. That's not a "hard number" it's lofty at best. Heck what is a mandatory expense to begin with. Are ultilities and groceries on there or are you only doing fixed mandatory expenses, not including a car payment, which from what I understand is a fixed car payment. Those aren't "hard numbers". Veskit fucked around with this message at 22:42 on Jun 12, 2014 |
|
#
?
Jun 12, 2014 22:22
|
|
|
Veskit posted:Technically we said you're acting like Slow Motion, which isn't technically an insult Man I'm holding back all of the rest of the details because frankly I'm ashamed and it sucks, and I know it sucks, and I really don't want to hear more about how much it sucks. I know that I've been bad with money. I know I can be good with money, too. I don't know what happened between now and when we were saving like crazy just a few months ago, but I want to get back to that mindset ASAP. That's why we're taking steps by moving into some lovely apartment that's 1200 ft^2 less than we're used to, and going down to one car (I walked 2 hours home along a highway in 90ºF weather last Friday. I would do it every day if I had to).  On a positive note we haven't overdrafted our bank account since I did create this thread. That used to be a regular thing for us, so if nothing else at least we keep track of how much money we actually have. e ^^^ the picture should answer your question.
|
|
#
?
Jun 12, 2014 22:45
|
|
|
$460 on 'entertainment' that's in addition to $300 on restaurants? Did you buy season tickets to the opera?
|
|
#
?
Jun 12, 2014 23:09
|
|
|
Cicero posted:$460 on 'entertainment' that's in addition to $300 on restaurants? Did you buy season tickets to the opera? et tu, Cicero? My wife is kind of bad with categorization sometimes. I bought a 22 rifle from a pawn shop and a scope so I could go shoot targets with some old friends. Everything else entertainment wise was less than $100. I'm thinking about selling the gun when we move. Only reason I say think is because I don't think I'll get anything near what I paid, and I'd also like to have it for next time. The maintenance and cost to shoot it will be tens of dollars a year at the most. I will however likely sell my other two guns (9mm handgun, AR-15 I don't want), my electronic drum set, my extra dobsonian telescope, a really nice weight set we might be able to make money off of since we got a floor model on clearance, possibly our spare TV, and a few more things like car stereo parts I took out when we sold the truck. I'm also trying to get rid of the PS4 but GameStop quoted me like $240.00 and I think we can do better than that. Really it's just the not spending the cash from all of that stuff that I hope I can manage (I can).
|
|
#
?
Jun 12, 2014 23:21
|
|
|
Oh and also I remember exactly what happened when we spent all of our hard earned money in the time this thread died to now. When we blew through our buffer and stuff. I was about to get a $25,000 3 month contract as a side project from work I was going to do during the nights. Just before closing the client backed out though. I counted my chickens before they hatched. That actually gives me some more confidence we can do this again. I just need to learn from that mistake.
|
|
#
?
Jun 12, 2014 23:28
|
|
|
Knyteguy posted:et tu, Cicero?  Now I just have to wait for Elite: Dangerous to come down in price from its current $150! quote:My wife is kind of bad with categorization sometimes. I bought a 22 rifle from a pawn shop and a scope so I could go shoot targets with some old friends. Everything else entertainment wise was less than $100. I'm thinking about selling the gun when we move. Only reason I say think is because I don't think I'll get anything near what I paid, and I'd also like to have it for next time. The maintenance and cost to shoot it will be tens of dollars a year at the most. If I was you though, I might keep the drum set, assuming you are ok for space. That sounds like the kind of thing a toddler would enjoy playing with; I know my son certainly would.
|
|
#
?
Jun 12, 2014 23:29
|
|
|
I wasn't saying you spend AS bad as SloMo, just that you posted a snippet of the picture like SloMo does. I'd sell the AR&9mm and keep the 22. Cheaper to shoot and roughly as much fun, IME. Unless you carry, then you should keep the 9 and budget more to monthly practice. Scares the hell out of me that one of my good buddies carries and doesn't ever shoot his carry piece...
|
|
#
?
Jun 12, 2014 23:42
|
|
|
Knyteguy posted:I will however likely sell my other two guns (9mm handgun, AR-15 I don't want), my electronic drum set, my extra dobsonian telescope, a really nice weight set we might be able to make money off of since we got a floor model on clearance, possibly our spare TV, and a few more things like car stereo parts I took out when we sold the truck. I'm also trying to get rid of the PS4 but GameStop quoted me like $240.00 and I think we can do better than that. Really it's just the not spending the cash from all of that stuff that I hope I can manage (I can). Will you even have room for all of that stuff in your new place anyway? Also why do you own two dobsonians? They're kind of...big.
|
|
#
?
Jun 12, 2014 23:42
|
|
|
Cicero posted:Heh it's ok, I have my own frivolous purchases. From this last weekend, for example: Sweet setup. I hadn't heard of that game but holy crap the trailers look awesome. Cicero posted:Ok cool. Selling that stuff does sound like a good idea, but as you say, only if you don't immediately turn around and use the money to buy even more stuff. I hadn't even thought of that regarding the drum set. I'll keep that in mind because that'd be rad. Thanks. SiGmA_X posted:I'd sell the AR&9mm and keep the 22. Cheaper to shoot and roughly as much fun, IME. Unless you carry, then you should keep the 9 and budget more to monthly practice. Scares the hell out of me that one of my good buddies carries and doesn't ever shoot his carry piece... Nah no carry for now. I'd like to at least get a license for it someday even if I don't end up carrying one though (heard good stuff about the classes). Yea the AR is just too expensive to shoot and it's worth a decent amount of money, so screw it. Inept posted:Will you even have room for all of that stuff in your new place anyway? Also why do you own two dobsonians? They're kind of...big. Well no which is part of the reason we're selling too. I don't want to pay $50+ a month for a storage unit. Extra Dob: this is from like 6 years ago but I bought the first one for a good deal on Craigslist, but I was a newbie and couldn't find anything at all, so I bought another with a computer that helps me find stuff. My problems with spending money aren't new unfortunately. Also kind of relevant update: my work may be bought out from a client. I won't have details for another week or two, but I've been assured that going forward their plans include me. I may be able to renegotiate my salary too.
|
|
#
?
Jun 13, 2014 00:06
|
|
|
Just read this thread, it was sort of reasonable and it sort of seemed like you were on track and then it skipped a few months and BAM.
|
|
#
?
Jun 13, 2014 00:29
|
|
|
Knyteguy posted:Sweet setup. I hadn't heard of that game but holy crap the trailers look awesome. quote:I hadn't even thought of that regarding the drum set. I'll keep that in mind because that'd be rad. Thanks.
|
|
#
?
Jun 13, 2014 00:31
|
|
|
Knyteguy posted:Man I'm holding back all of the rest of the details because frankly I'm ashamed and it sucks, and I know it sucks, and I really don't want to hear more about how much it sucks. I know that I've been bad with money. I know I can be good with money, too. I don't know what happened between now and when we were saving like crazy just a few months ago, but I want to get back to that mindset ASAP. That's why we're taking steps by moving into some lovely apartment that's 1200 ft^2 less than we're used to, and going down to one car (I walked 2 hours home along a highway in 90ºF weather last Friday. I would do it every day if I had to). First off thank you for posting that. It's helpful. I mean seeing that you know what you have to do. I just want to address though that you did save, but you and the wife saved to buy poo poo that you wanted down the road. You saved for a vacation, guns, eating out, dealing with a car and all sorts of stuff you looked like, but that wasn't really saving. Also using YNAB i'm entirely unsure how you budgeted for money that wasn't in your account which is a fundamental principle of the program itself. At least make monthly posts of a screen shot of your budget so you can hold yourself accountable. You ran away in shame and the spiral brought you here and the end result wasn't even that bad.
|
|
#
?
Jun 13, 2014 00:52
|
|
|
Veskit posted:First off thank you for posting that. It's helpful. Agreed man. I think posting the monthly budget in here will help. I'll do that. Thanks.
|
|
#
?
Jun 13, 2014 02:58
|
|
|
Got a roughly $2k/yr raise, and we cut our medical insurance by about $200.00 per month (pretax though) with better benefits since my wife's work had a stronger plan for cheaper. We chose an HSA plan, which I've heard good things about on this forum. The employer contributes around $470 per year towards it. Free money! I will also be lowering my IRS deductions from 3 which was good for a partial year last year to probably 0 now to compensate for the 7 months I've had it like that. That will probably nullify the raise and the insurance savings. I found out that I do have the opportunity to switch companies and probably negotiate a higher salary and even work for the same boss (he's just lower on the totem pole than owner at the new company). I don't think I will though because the work is boring as poo poo and staying with my current company will give me a break every now and then from that particular stuff. If the startup fails which could very well happen, then I'll still have a job with the new company which is much larger. My boss is now Sr VP of Operations so I think he'd have the pull to to be good on that guarantee. I figure since this is BFC I'd throw that out there. What's cool though is the boring as poo poo work will pay very well if I branch out on my own, or to another team after I gain more experience (average salary around $149,000 for senior position in what I'll be learning).
|
|
#
?
Jun 19, 2014 04:37
|
|
|
Want to post up the details of the HSA vs non-HSA plans? I would get $1500 into my HSA account if I was married, $470 sounds über low.
|
|
#
?
Jun 19, 2014 05:59
|
|
|
|
| # ? May 10, 2024 19:28 |
|
|
Sure we could actually really use some help with this insurance thing. We're already locked into the HSA but there were two HSA plans and one HRA plan. We chose the mid tier plan which is I think $1,500 deductible and I can't remember max out pocket. I wanted to ask more on here but we were down to the wire before we had enough information to decide to drop our current insurance. We currently have my medical plan which is $612.00 a month + dental & vision which another $108.00 a month. $2,000 deductible $4,500 max out of pocket and I think 20% coinsurance? They pay 80% up to the max out of pocket or whatever. I can cancel this July 1 at the soonest, but the insurance was frontloaded by my employer so I'll have to pay up until Aug 1. My wife's insurance will start coming out right after this next paycheck Friday I think. We were wondering if it would be worth it to be dual insured because our current insurance might cover the deductible on the new insurance (which is actually active right now too)? I'm estimating the baby cost to be about $9,500.00. Maybe we should plan for a vacation to Canada for a month around the due date. We'll have a baby with dual citizenship and the benefits of socialized medicine I think?  (I'm joking of course).
|
|
#
?
Jun 19, 2014 18:08
|
|