May 30, 2010
This month shows an interesting slide in both assets (primarily investments) and a nearly equal drop in expenses. Those expenses were mostly relocation-related, this month’s cash usage was pretty much the renters insurance policies I bought.
It is a little disappointing that the $5K/5K challenge doesn’t show up significantly on this snapshot, but that’s because it’s lost in the overall picture. As a detail, it plumped up the emergency fund a good amount. I have plans for that emergency fund – a lot of that cash will be going into a long-term CD to earn as much interest as possible until rates go up elsewhere. Perhaps I could even “part” with $20K? *shudder*
I’m a cash hoarder and it’s distinctly weird to lock up more than half my cash, but it’s time to crush that kind of emotional saving!
I continue on the last leg of the Challenge this week and then have to decide the next step of my overall financial plan to supplement my income this year.
December 14, 2009
I recently discussed the upcoming changes for my health care coverage in 2010.
My ex-benefits office sent an update for the coming year and I was wrong about my ARRA expiration: it’s actually good until the end of April, not the end of March. My rates, however, still increase to $142/month starting in January, and jump to $410/month post-ARRA expiration. A relief and a bummer rolled up into one.
Unless a job is secured by that time, the COBRA will take a serious bite out of my savings each month, but I’ll still have the money to pay it. I just have to reproject the budget to see what the drawdown looks like against my savings accounts.
This New York Times article, Steps to Take Before Cobra Subsidy Ends, notes that some people are expecting their unsubsidized COBRA to reach unsustainable amounts, costing more than half their monthly unemployment. According to the article, bills are pending in both the House and Senate to extend the subsidy for six months, but I’m skeptical that it would pass in time to affect my budget.
The Times suggests the following coping techniques:
BUY TIME Yes, the full-price Cobra payments are onerous. But if you pay the first month or two, you will be buying time to see if the subsidy is extended and time to shop around for health insurance alternatives that may be more affordable.
Check ehealthinsurance.com and healthplanone.com for general pricing information from carriers that provide individual policies in your area.
STAY ON TOP OF IT If you’re making the switch to full payments be sure to keep in touch with your Cobra administrator so you will know whether Congress grants an extension, and what you need to do, if anything, to get it.
Depending on your plan and situation, this person may be a staff member of your former employer’s benefits department. Or it may be someone at the insurance company providing your Cobra coverage, or a third-party administrator. Be sure to read through your paperwork and find the person you need to stay in contact with.
LOOK FOR REDUCTIONS With or without the subsidy, family Cobra coverage costs much more than individual coverage or coverage for just you and your spouse.
Without your regular income, your children may well be eligible for the Children’s Health Insurance Program, known as CHIP. It covers children in families that earn too much to qualify for Medicaid, but too little to afford private health insurance. If you can insure your kids through CHIP, Mr. Pollack said, you can significantly reduce your Cobra payment. For more information go to insurekidsnow.gov.
NEWLY LAID OFF? If you have been laid off this month and your employer has promised to cover your health care until the end of December, beware: that magnanimity could work against you.
The way the law is written, workers are eligible for the subsidy only if they are “eligible for Cobra” before Dec. 31, said Kathryn Bakich, national health care compliance director for the Segal Company, a benefits consultant. And simply being laid off in December does not necessarily make you eligible, particularly if your employer-provided coverage is extended through the end of the year.
As with most things to do with the economy and the government’s actions, I view it as a wait and see situation. With luck, none of you out there really need any of this information!
December 13, 2009
By way of helping with the astronomical work load, I’ve got a guest post over at Funny About Money. Just a little rumination about unemployment.
Hope everyone is safe, warm and dry today! It’s gloomy out there!
December 9, 2009
Editor’s Note: Issue resolved & closed now.
November 25, 2009
Thanks to our generous living arrangements, my travel companions and I economized on the food budget by taking advantage of the local Safeway two miles down the road, and the kitchen stocked with cooking supplies.
We made more than one grocery run but the first $250 worth of groceries yielded three days’ meals for three to five people.
Sunday dinner
I cooked dinner for five on Sunday night: green salad dressed with a balsamic spritzer, green beans and red potatoes, baked basa (fish) with roasted tomatoes and pesto. The leftover fish made excellent fish sandwiches the next day with a dab of mayo, a couple slices of cheddar and crispy lettuce.
Daily breakfasts on the balcony
Tuesday’s Dinner
I cooked lemon chicken to go with rice pilaf, steamed broccoli, and used the remaining potatoes and green beans. Groceries are remarkably expensive. Even on sale, we paid $1.99 a pound for chicken! Three half breasts and seven thigh pieces yielded six dinner servings and a chicken sandwich lunch.
More on the expenses of eating out in Hawaii next!
October 11, 2009
444 Express’s post on How the Poor Stay Poor made me laugh because a) my dad’s smoking addiction drives me up the wall — I’m sure that he’s going to get sick on me next, and financially it’s terrible, and b) I was inordinately proud of my grocery basket contents today.
For under $15, I came home with:
(2) 10-ct boxes of instant oatmeal
(1) 6-ct package of whole wheat English muffins
(1) loaf of 100% whole wheat bread
(1) Jonathan apple
(4) Bartlett pears
(1) 12-ct package of string cheese
I know the comparison of cheap fast foods and expensive wholesome food is made constantly, but I really like that, if you look at it, shop sales, and use coupons, nutritious foods can be had for not too much more than a few fast food meals. For the record, the string cheese was my splurge at $4.99 for a package of Precious brand cheese + a peelie coupon for $1 off. I miss peelies!
Oh, and there is a meal combination in that list because I’ve been buying two cans of tuna fish every time they were on sale for the past year. We now have a stockpile of tuna tucked away in every corner of the kitchen. It’s ’bout time I started eating it! My friend suggested that I dice some apple into the tuna salad, and it tastes delicious!
Now, time to crack the books!
September 9, 2009
Contact me for sponsorship opportunities at revanche.gs@gmail.com.
