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Post by Deleted on May 18, 2014 14:44:28 GMT -5
OMG, yes! First off...I have guilt over every thing I have ever purchased and did not fully use. I mean everything. For instance, I've spend so much money on hobbies, that are here today and gone tomorrow. The shame! I won't sell the items I've purchased (mostly wood working tools), as it will only cause me to feel more guilty about having not fully used them. Hard to explain, but I think it goes back to being really poor, hanging onto everything and my loathing of waste. Next...I don't know whether I'm hexing myself or what, but every time DH and I decide to spend a bit of money on a non-necessity, like our trip to Vegas, or my new patio, or his new riding monster-mower (we have lawn service, BTW), something invariably comes up where we need to dish out a hunk of dough on a necessity. It NEVER fails!!! So it makes me extremely anxious about buying big things that we really could do without. I have had EXTREME anxiety about money as long as I can remember. But Xanax is helping.
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Post by Deleted on May 18, 2014 16:56:47 GMT -5
I am right there with you with the Panic mode....
We went from $1,375/rent to $2,100/mortgage + $550/rent = $2,650/month
Basically putting a roof over our head doubled in a month time. I know I can afford it, going through our expenses breakdown we know we can afford it but it is still a big adjustment and the money got to come from somewhere.
So yes : definitely in Panic Mode.
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Post by Deleted on May 18, 2014 17:30:55 GMT -5
cawiau, have you adjusted your tax withholdings since you'll be paying interest and property taxes? You're paying it only part of the year and would be able to deduct only the portion over the standard deduction, but I always adjusted my withholdings when taking out a mortgage.
To answer the OP- heck, yeah, I'm in total panic mode because I retired 4.5 years earlier than expected. I turn 62 in February but probably won't take SS, so - horrors- we'll need to take $$ out of the investments before year end. We also have no verifiable health insurance since my employer is dragging their feet getting the COBRA papers to us. I was so freaked out at doing a sprint triathlon today with no proof of health insurance (what if someone ran into me on their bike?) that I woke up at 2:30 AM and never did get back to sleep. (I did survive all except the lake swim, where the water was just too cold for me to deal with even in a wet suit, so I was helped out of the lake and then finished the rest of it.)
I know we'll be fine but right now I'm worrying a lot. Total change of gears.
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Post by Deleted on May 18, 2014 18:03:08 GMT -5
cawiau, have you adjusted your tax withholdings since you'll be paying interest and property taxes? You're paying it only part of the year and would be able to deduct only the portion over the standard deduction, but I always adjusted my withholdings when taking out a mortgage. Thank You... I only adjusted mine though and left my wife the same; just to be safe since this is our first year owning a home and such.
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NoNamePerson
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Post by NoNamePerson on May 18, 2014 18:46:38 GMT -5
How often does he get paid? Have him fedx/ups it to you as last resort. Or he could open a bank account in Hawaii (checking or savings, whichever one would not have any fees) and deposit his paychecks there, and you or he could electronically transfer the money to your home account. Just make sure the Hawaii bank account offers the option of electronic transfers. Oh, I agree. But there seemed to be so many What If's and all that I suggested this as a last resort. I would do what you suggest but like I said the OP was in a quandry about what to do. Opening an account seemed the most logical thing to me too.
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Post by Deleted on May 18, 2014 19:32:30 GMT -5
cawiau, have you adjusted your tax withholdings since you'll be paying interest and property taxes? You're paying it only part of the year and would be able to deduct only the portion over the standard deduction, but I always adjusted my withholdings when taking out a mortgage. Thank You... I only adjusted mine though and left my wife the same; just to be safe since this is our first year owning a home and such. since you'll be itemizing, you will also be able to deduct state and local taxes, charitable deductions, also the prepay of your property taxes and any points/origination fees that you paid. you may also be able to deduct student loan interest (not sure what the income threshold is).
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Post by Deleted on May 18, 2014 21:17:44 GMT -5
Do you have bank of america near you? I am pretty sure I remember seeing a couple of them in HI (big island). Might be worth opening a joint account so he can deposit the checks and you can use bill payer to pay bills out of that account.
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resolution
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Post by resolution on May 18, 2014 21:33:46 GMT -5
He downloaded the mobile banking ap, and the bank is supposed to email him within a few days to confirm that it is him. At that point he will make a try at depositing his first pay check. For now he is just going to hang onto it until he gets the mobile banking to work.
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midjd
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Post by midjd on May 21, 2014 19:38:16 GMT -5
Thank You... I only adjusted mine though and left my wife the same; just to be safe since this is our first year owning a home and such. since you'll be itemizing, you will also be able to deduct state and local taxes, charitable deductions, also the prepay of your property taxes and any points/origination fees that you paid. you may also be able to deduct student loan interest (not sure what the income threshold is). You can deduct SL interest without itemizing. The max deduction is $2500/yr. We are spending about $1K this weekend on landscaping/house stuff: -$200 for a load of gravel for the driveway -$200 to rent a Bobcat -$400 for a 20 yd open-top dumpster Plus gas for the Bobcat, etc. DH is going to tear down the fugly shed at the edge of our property, do some excavating/filling on the hillside by our house, and a few other things. We are also finally going to clear out all the crap the sellers left in the basement. I'm psyched, but it's still a lot of money to spend in 3 days. Last year it wouldn't have bothered me, but DD's $1K/month daycare bill makes the budget a little tighter...
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resolution
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Post by resolution on May 21, 2014 20:17:46 GMT -5
Well the first attempt at mobile banking was a flop. They emailed him that they denied his mobile banking application because his cell number is different than our home number that they have on file. He has to call them and switch our contact number to his cell phone and switch the email to his email, then apply for mobile banking again. They don't seem to be set up for account holders to be in more than one location or have more than one contact number.
He doesn't want to set up a bank account at a bank out there, so he will call them this weekend to update the info and we will try again next week. If it doesn't work he is going to turn into the guy that payroll hates and just collect his paychecks in a pile until he flies back home.
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midjd
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Post by midjd on May 21, 2014 20:20:38 GMT -5
Sorry if it's been suggested, but can't he just sign the checks and mail them to you?
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resolution
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Post by resolution on May 21, 2014 20:42:32 GMT -5
Mailing them is also an option. Although if we go back and forth on the mobile banking long enough then it will be faster for him to just bring his pile of checks when he comes home.
I have been really happy with Susquehanna Bank up until this Hawaii business, I guess it is a limitation of using a local bank.
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kadee79
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Post by kadee79 on May 27, 2014 16:17:12 GMT -5
since you'll be itemizing, you will also be able to deduct state and local taxes, charitable deductions, also the prepay of your property taxes and any points/origination fees that you paid. you may also be able to deduct student loan interest (not sure what the income threshold is). You can deduct SL interest without itemizing. The max deduction is $2500/yr. We are spending about $1K this weekend on landscaping/house stuff: -$200 for a load of gravel for the driveway -$200 to rent a Bobcat -$400 for a 20 yd open-top dumpster Plus gas for the Bobcat, etc. DH is going to tear down the fugly shed at the edge of our property, do some excavating/filling on the hillside by our house, and a few other things. We are also finally going to clear out all the crap the sellers left in the basement. I'm psyched, but it's still a lot of money to spend in 3 days. Last year it wouldn't have bothered me, but DD's $1K/month daycare bill makes the budget a little tighter... Just something you might want to look into if you rent any more heavy equipment. We discovered that it was MUCH cheaper to rent a backhoe for either 2 weeks or 4 weeks than it was to rent it daily or by the week. The difference between one week & two was very little! We did a 4 week rental once and were able to use it for 2 wks. now & 2 weeks later as long as we paid for the pickup/delivery in the middle....not a problem as it didn't add that much to it.
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midjd
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Post by midjd on May 28, 2014 15:20:34 GMT -5
I'll have to check that out next time. As it turned out, we had the guy come pick up the Bobcat about half a day early. That shed came down like it was made of popsicle sticks. Even though now it's just a big patch of dirt surrounded by trees, it looks SO much better! But I am not even going to suggest to DH that he can rent a backhoe! He is already talking about how nice it would be to have a pond. (His parents built one when he was growing up, and he has described the arduous decade-long, thousands of dollars process to get it to hold water - but still thinks it's a good idea. )
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on May 28, 2014 15:58:07 GMT -5
With a pond, you can have ducks!
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Post by midjd on May 28, 2014 16:02:32 GMT -5
With a pond, you can have ducks! Hmm...I do like ducks!
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on May 28, 2014 16:18:49 GMT -5
You can also attract ducks with kid-sized wading pools, too (Which may be simpler than a pond)
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kadee79
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Post by kadee79 on Jun 1, 2014 10:50:03 GMT -5
"IF" you ever do get a pond....just a word of warning....DON'T let any cattails start growing. They have roots that go to China and are the dickens to try to kill and will take over a pond.
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mmhmm
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Post by mmhmm on Jun 1, 2014 10:55:51 GMT -5
Always remember: with ducks comes duck poop.
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