- RT @MoneyMatters: Frugal teen buys house with 4-H winnings http://bit.ly/amVvkV #
- RT @MoneyNing: What You Need to Know About CSAs Before Joining: Getting the freshest produce available … http://bit.ly/dezbxu #
- RT @freefrombroke: Latest Money Hackers Carnival! http://bit.ly/davj5w #
- Geez. Kid just screamed like she'd been burned. She saw a woodtick. #
- "I can't sit on the couch. Ticks will come!" #
- RT @chrisguillebeau: U.S. Constitution: 4,543 words. Facebook's privacy policy: 5,830: http://nyti.ms/aphEW9 #
- RT @punchdebt: Why is it “okay” to be broke, but taboo to be rich? http://bit.ly/csJJaR #
- RT @ericabiz: New on erica.biz: How to Reach Executives at Large Corporations: Skip crappy "tech support"…read this: http://www.erica.biz/ #
Link Roundup
Wrestling season is finally over. Q1 is always such a busy time in my house. Now, spring has sprung and it’s time to start enjoying the weather.
On to the links.
Finance:
Here’s an intro guide to settling IRS debts.
Only someone who’s never had to deal with the full default process could think this was a good idea. The Department of Education outsources its collections for a reason. Eliminating private lenders will raise the students’ costs and eliminate options for troubled debtors. Yes, I worked in the industry for several years.
The Guide to Buying Glasses Online. I currently have 6 pairs of glasses that cost me a grand total of $150, with no loss in quality.
PenFed: Credit cards done right.
Not finance:
This is the coolest picture I’ve seen this year. Space pics for under $1000. NASA could take lessons, I think.
I miss the days when napping was possible.
38 Random Acts of Robyn. I’m thinking about incorporating this as a 30 day project.
Lawdog has a great idea to fix the problems with our legislature. It’s a beautiful Constitutional Amendment. If they have to play by the rules they set, the might start setting better rules.
“Only excepting such limited protection as offered by Article One, Section Six, Congress is hereby prohibited from exempting its Members from each, any, and all effects, duties or obligations rendered upon any citizen, or citizens, by any Law, Tax, or other action passed by Congress.”
Olivia Wilde is Having a Baby: What are the first-month expenses?
Olivia Wilde recently announced her pregnancy with fiance Jason Sudeikis as she’s due with her first child in the coming year. Although the couple have declined to reveal their due date, they likely are expecting to set aside a budget for their baby, even with their high incomes. With forty percent of moms saying that having a baby is more expensive than they initially assumed, it’s important to look at the overall costs in the first month for plenty of preparation and financial planning.
Food
The first-month’s expenses can slightly range, depending on if the mother is using formula to feed the baby or is breastfeeding.
Breastfeeding is free and will not cost a dime, besides the breastfeeding supplies that cost an average of $15 in the first month due to nursing pads and milk storage bags for freezing.
Name-brand formula can be expensive, an average cost of $25 a week as the baby will be feeding on it several times a day, totaling about $100 in the first month. Generic brands of formula cost half the amount, an average of $12 a week.
Medical
Health insurance is one of the most expensive costs for newborn babies with 39 percent of mothers paying $1,000 with their childbirth. Some even pay at least $5,000. Health insurance will also likely increase to $200 a month for the child with co-pays that range from $30 to $100 per visit. Some health insurance will refuse to cover certain costs, which include vaccines and immunizations.
Daycare
Paid maternity leave is considered a luxury in the U.S. and is often unavailable for mothers who are self-employeed or do freelance work, making daycare a necessity. Daycare for newborns averages to $100 a month, but can be at least $1,000 for celebrities that use an in-home nanny.
General Care
Wipes will cost an average of $13 in the first month with a $5 increase in the water bill for the baby’s laundry and baths.
Diapers are one of the scariest expenses that are priced at $80 for basic Pamper diapers for newborns. Using cloth diapers are a one-time expense, so if provided by a friend or relative at a baby shower, they are free to use consistently and do not require much water or detergent to wash every other day.
Bath soap, detergent, and baby-safe shampoo will cost $30 a month to maintain the hygiene of your baby.
Although Olivia Wilde’s baby will be unique in its feeding habits and the materials for diapers used, the average cost in the first month will likely total $200 and can go as high as $4,000 for a celebrity. Many of the costs simply depend on the baby and are determined by the type of diapers used, the amount of doctor visits, daycare that may be needed, and whether the baby prefers breastfeeding or feeding on formula.
Related articles
Dolly Parton’s Car Crash and the Importance of Insurance
America’s country sweetheart, Dolly Parton, was in a car accident recently. Although she was only a passenger in this minor fender-bender, she still suffered some injuries requiring a quick hospital visit and rest. The offending driver did not stop as he was supposed to and struck Parton’s vehicle. Parton surely has auto insurance, and hopefully the offending driver has coverage as well.
Auto Insurance 101
Every month, you pay a premium toward your coverage balance. Coverage varies by state, from hospital bills to repairing damaged street items, like guard rails. People with expensive cars pay higher premiums while inexpensive cars have lower amounts. Some buyers only purchase the bare minimum of coverage, called comprehensive. This coverage does not help in the Parton crash because it typically covers vehicle damage from objects, like flying rocks, rather than a collision situation.
How Much Does That Part Cost?
Repairing a vehicle after a car crash can lead to astronomical figures. A simple dent in the bumper may warrant an entire part replacement costing thousands of dollars. The offending driver in Parton’s accident is at fault. His insurance should cover Parton’s insurance deductible and any other expenses that arise. If he is not covered, she could technically sue him for damages, although there may not be many funds to pay out.
Those Medical Bills
Coupled with a car repair, Parton and her driver also went to the hospital. The offending driver uses his auto insurance to cover their medical bills. Any bills generated from the driver or passenger’s injuries goes directly to the offending driver’s insurance. If he is not properly covered with this policy feature, he must pay for the bills out-of-pocket. With medical bills costing thousand of dollars, he probably called his insurance agent right away to see if his policy has that coverage.
Luckily, Parton’s accident was not severe, but ongoing injuries can slowly siphon funds out of the offending driver’s account. If Parton has whiplash, for example, she may need multiple visits to a chiropractor or other specialty doctor. Each visit should be covered by the offending driver’s insurance. Because she has good insurance coverage does not mean that her policy should pay out. The party at-fault always pays for both car repairs and medical bills. With treatment that takes several weeks to a few months, the offending driver’s insurance rates will typically jump next policy year.
Someone Has To Pay For It
Depending on the insurance company, an accident on your record causes your premiums to rise. You are now considered a risk to the company. It is possible that you will cause another accident incurring more cost. Insurance companies must weigh their risky customers with their good drivers. Hopefully Parton recuperates quickly so the offending driver’s rates do not remain high for several years.
You may not think of auto insurance as a top priority, but the reality of Parton’s fender-bender shows everyone that accidents happen at any time. Even celebrities must cover their vehicles with good insurance to protect their assets.
Twitter Weekly Updates for 2010-04-17
- RT @kristinbrianne: Get Talk and Txt Unlimited Cell Svc w/ Free Phone for $10 per month by joining DNA for Free. http://tinyurl.com/yyg5ohn #
- RT: @ChristianPF is giving away an iPod Touch! – RT to enter to win… http://su.pr/2LS3p5 #
- 74 inch armspan and forearms bigger than my biceps. No, I don't button my shirt cuffs. #
- RT @deliverawaydebt Money Hackers Network Carnival #111 – Don't Hassel the Hoff Edition http://bit.ly/9BIAvE #
- @bargainr What would it take to get you to include me in the personal-finance-bloggers list? #
- Working on a Penfed application to transform my worst interest rate into my best. #
- Gave the 1 year old pop rocks for the first time. Big smiles. #
- @Netflix @Wii disc works well and loads fast. Go, go gadget movie! #
The Magic Toilet
- Image by tokyofortwo via Flickr
My toilet is saving me $1200.
For a long time, my toilet ran. It was a nearly steady stream of money slipping down the drain. I knew that replacing the flapper was a quick job, but it was easy to ignore. If I wasn’t in the bathroom, I couldn’t hear it. If I was in the bathroom, I was otherwise occupied.
When I finally got sick of it, I started researching how to fix a running toilet because I had never done it before. I found the HydroRight Dual-Flush Converter. It’s the magical push-button, two-stage flusher. Yes, science fiction has taken over my bathroom. Or at least my toilet.
I bought the dual-flush converter, which replaces the flusher and the flapper. It has two buttons, which each use different amounts of water, depending on what you need it to do. I’m sure there’s a poop joke in there somewhere, but I’m pretending to have too much class to make it.
I also bought the matching fill valve. This lets you set how much water is allowed into the tank much better than just putting a brick in the tank. It’s a much faster fill and has a pressure nozzle that lies on the bottom of the tank. Every time you flush, it cleans the inside of the tank. Before I put it in, it had been at least 5 years since I had opened the tank. It was black. Two weeks later, it was white again. I wouldn’t want to eat off of it, or drink the water, but it was a definite improvement.
Installation would have been easier if the calcium buildup hadn’t welded the flush handle to the tank. That’s what reciprocating saws are for, though. That, and scaring my wife with the idea of replacing the toilet. Once the handle was off, it took 15 minutes to install.
“Wow”, you say? “Where’s the $1200”, you say? We’ve had this setup, which cost $35.42, since June 8th, 2010. It’s now September. That’s summer. We’ve watered both the lawn and the garden and our quarterly water bill has gone down $30, almost paying for the poo-gadget already. $30 X 4 = $120 per year, or $1200 over 10 years.
Yes, it will take a decade, but my toilet is saving me $1200.
