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October 2010 Low Income Support Thread - Page 4

post #61 of 90
Provacativa:

I have Reynauds too. I do have a wool blanket under my sheet. The room is really cold. Really cold. I'd be interested in trying lemon and orange peel. I'll research it.
post #62 of 90
Rose hips are the best source of vitamin C. 10 x the C of an orange. They sell it bulk in my HFS like the herbs, and so they consider it food, not supplement, so FS covers it. Tea, too. So, I add rose hips to my tea. HTH

TheSavedQuarter - Make MIL convert to term life! Seriously, if it's messing with your finances she needs to help on something so simple. And if your 401k is very tiny (couple hundred bucks or something) maybe cash it in? I did. I had maybe 2Gs. I had bills I had to pay anyway, and taking the tiny tax hit on such a tiny amount was negligible when taking into consideration that I could 1. pay the bills and 2. get the medicaid... No brainer.
post #63 of 90
My mother in law will not budge. It's her money that's maintaining it and she's the beneficiary, so she doesn't really get the problem. (She's also unwilling to put me on as beneficiary even though I'm his wife and mother of his children, and I'm the one who will struggle even more financially if he dies, but whatever.)

I am cashing out my 401(k). It's under $1500 so not a substantial amount, but it was nice to have. I contacted the company and it's in the works.

Does anyone know if student loans count as income?
post #64 of 90
Quote:
Originally Posted by TheSavedQuarter View Post
My mother in law will not budge. It's her money that's maintaining it and she's the beneficiary, so she doesn't really get the problem. (She's also unwilling to put me on as beneficiary even though I'm his wife and mother of his children, and I'm the one who will struggle even more financially if he dies, but whatever.)

I am cashing out my 401(k). It's under $1500 so not a substantial amount, but it was nice to have. I contacted the company and it's in the works.

Does anyone know if student loans count as income?
Nope! You do not claim them as income, do not pay taxes on them, etc.

You could claim the interest you pay back on them as a deduction if you itemize, if I recall correctly. But I am 110% sure that it is not counted as income.
post #65 of 90
Quote:
Originally Posted by TheSavedQuarter View Post
I am cashing out my 401(k). It's under $1500 so not a substantial amount, but it was nice to have. I contacted the company and it's in the works.
Does anyone know exactly what the penalties are on cashing out a 401K? I know it is bad but I think we may have to cash DH's in the next few months.
post #66 of 90
Quote:
Originally Posted by maciascl View Post
Does anyone know exactly what the penalties are on cashing out a 401K? I know it is bad but I think we may have to cash DH's in the next few months.
It depends on who the company is (that is holding the money). Expect to pay around a 30-40% penalty, sometimes an additional 10% as well.

We withdrew DH's a few years ago for 15k. We paid around 5k in penalties.
post #67 of 90
Quote:
Originally Posted by UberMama View Post
It depends on who the company is (that is holding the money). Expect to pay around a 30-40% penalty, sometimes an additional 10% as well.

We withdrew DH's a few years ago for 15k. We paid around 5k in penalties.
Thanks! DH's is about 14k so that is very helpful to hear your experience.
post #68 of 90
FYI, you are also able to take loans against your 401k for certain things. I don't know if it would count as an asset anymore if the value was all out in the form of a loan...? Just thought it might be something to look into. You can only take 50%, though, and I think it has to be a certain amount high before you can... Just a thought.
post #69 of 90

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Edited by CaliMommie - 7/30/13 at 10:55pm
post #70 of 90
Ok ladies, if you haven't recently checked for cheaper car insurance online. Do it. Do it *NOW*! Seriously! Ours jumped up to ~$800 after buying the jeep for dh and getting rid of one of our other cars. I checked about online... and I just bought *MUCH BETTER!!* car insurance for $326!!! Thats nearly $500 I just saved!! INSANITY!! SO! Do it! Go check Geico and Progressive and All state! Just do it!!
post #71 of 90
Quote:
Originally Posted by mamadelbosque View Post
Ok ladies, if you haven't recently checked for cheaper car insurance online. Do it. Do it *NOW*! Seriously! Ours jumped up to ~$800 after buying the jeep for dh and getting rid of one of our other cars. I checked about online... and I just bought *MUCH BETTER!!* car insurance for $326!!! Thats nearly $500 I just saved!! INSANITY!! SO! Do it! Go check Geico and Progressive and All state! Just do it!!
If they service the area you live in try Wawanesa too! They are always by far the lowest when I've searched.
post #72 of 90
I some how have missed this thread, but I'm jumping in now. I'm going to go back and read the whole thread
post #73 of 90
Quote:
Originally Posted by maciascl View Post
If they service the area you live in try Wawanesa too! They are always by far the lowest when I've searched.
I had Wawanesa until I was rear-ended in march and the customer service was TERRIBLE. I switched to State farm and actually saved money!
post #74 of 90
So I think our annual income is somewhere near 16K.

It boggles my mind...I mean we are a family of 5!!

also-does anyone else feel like the whole dave ramsey thing is not for low income peeps?

i cant even begin to figure out where we can save more(any)
money-we are as low/no spend as possible without me resorting to stealing toilet paper from the dr/'s office.
post #75 of 90
Quote:
Originally Posted by inkedmamajama View Post
So I think our annual income is somewhere near 16K.

It boggles my mind...I mean we are a family of 5!!

also-does anyone else feel like the whole dave ramsey thing is not for low income peeps?

i cant even begin to figure out where we can save more(any)
money-we are as low/no spend as possible without me resorting to stealing toilet paper from the dr/'s office.
It really isn't for low-income peeps - I tried it a few years back and it only made things worse.
post #76 of 90
I need a hug.
My new apt was approved and DS and I are moving the around 11/7/10 and we both are sooooo excited . I splurged a bit and ordered a new sofa.
I am currently looking for a full time job. Subbing just isnt going to cut it.
Right now our living situation is just so sad. The house is chaos, my roommate is just 'wierd' and the house is messy (to be nice). Im convinced the state of the house is what is making DS so sick.

However I refused to called 'the princess' and I will not take on the role of the maid and clean up after my roommate anymore. I will not take care of her dog and I will not tolerate her hissy fits over HER dog.

But now since I've decided to get an apt I need to find a job other than subbing to make sure my income is enough to cover rent, utilites, and other expenses.
post #77 of 90
Hello, I introduced myself months and months ago then stopped following this thread, but I have been feeling really lonely among all my "rich" friends and started reading along again this month.

We will hit $20,000 in income next month which is a huge first for us, last year we made $16,000. I don't even know how we did it, as our house payment is over $1,000 a month. Gotta love those miracles.

DH got a big raise in September and immediately stopped getting hours. We have to call into the unemployment office to file a claim and have yet been able to talk to a person despite calling in several times a day and waiting AGES on hold. We just had the yearly food stamps interview and we reported the raise as well as sent in paystubs showing his decreased hours but they called his employer who said he is full time so we got our food benefit decreased anyway. I already run out of food at the end of the month even before the decrease. Food allergies suck.

It's nice to have a place to talk about all this stuff. I can't very well celebrate our all time high of $20,000 a year with people who make 3 times (or more) that much.
post #78 of 90
Quote:
Originally Posted by inkedmamajama View Post
So I think our annual income is somewhere near 16K.

It boggles my mind...I mean we are a family of 5!!

also-does anyone else feel like the whole dave ramsey thing is not for low income peeps?

i cant even begin to figure out where we can save more(any)
money-we are as low/no spend as possible without me resorting to stealing toilet paper from the dr/'s office.
I agree totally. It's hard to save money and pay off your debt when you are trying to figure out how you are even going to pay bills! I have cut out ALL unnecessary expenses except the internet (which is only $40 when bundled with our cable which is free). My husband works hard and he makes 90% of the money. That is his stress-reliever and he pays the bills, he wants to keep it. lol. I'd go a little crazy too, but he acts like he can't live without it.N But he does know that is the last bill to get paid and it gets cut off sometimes.
post #79 of 90
So my husband took a new job when his temporary assignment ended in September. He chose NOT to stay with the temp agency since this other job was supposed to start at 40 hours a week and move up to anywhere between 10 and 15 hour days starting in November and lasting through til New Year and then back down to 40.

He trained at one location and did get his 40 hours. But last paycheck he only got 40 hours for TWO weeks. That doesn't even cover rent! I am already in debt to my grandma for helping catch up with rent, and my sister for helping me with car repairs. I am supposed to pay both of them back with this paycheck and I don't know how to do that if I can't even pay my rent with it! I am asking community ministries for assistance, but they only give $40 and TRY to get more from local churches, but don't usually come through. And I understand that. Plus my new apartment complex does NOT do payment arrangements. If you don't pay by the 5th, you get a $30 late fee and $5 a day. On the 15th they sign papers to evict you.

I am babysitting for a friend, which is making me miserable, but I only get another $100 a week, which still won't save us.

I am hoping so badly for DH to get approved for disability and get a back pay check because that's the only way I see to save us right now. Or win the lottery. lol. But I think you have to play to win.
post #80 of 90
DH had to pay about 1K this month to get his car running so he could go to and from work- public transit isn't an option. That left less than nothing for almost everything else. I'm looking forward to October being over!

I got the mail this morning to find that the kids' health insurance was being discontinued because they didn't get the paperwork that I did arrange to have faxed. Luckily, our caseworker is pretty great and we made it work. With the expenses we have for ongoing therapy for DS 1 that would have killed us. I'm waiting for the official 'this is fixed' letter before I celebrate, though.

It's getting cold here! I'm going to spend the rest of the afternoon putting that lovely shrink-to- fit plastic over the windows. Not pretty, but it works well to help with the drafts in our pretty old and outdated house.

On a happier note, the local meat place is having a huge sale- so I ordered a half a pig (organic, even!) at 80 cents a pound. I won't have it until the middle of next month, but that is FABULOUS! If I qualify for SNAP benefits, i may switch that over to a whole pig. We'll see. It would be nice to stock the freezer. a bit before the holidays.
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