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  1. #51
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    Quote Originally Posted by moosey View Post
    We are definitely not above $100k, I must have been thinking of the loading after the age of 31.

    My DH got a job basically straight away (4 weeks out of work) so now we are just playing catch up. He has a work car so we don't have that as an added expense.

    I thought our private health included ambulance cover but it was a lesson we learnt too late. We are paying top cover for obstetrics which I assumed was the top cover, it isn't which kills me to even talk about. I just wasn't paying close enough attention.

    I know it sounds ridiculous to be thinking about another baby but I know that this financial situation isn't long term. We are just going through a rough patch at the moment. Look, another baby might not happen but I don't want to loose my waiting periods at this stage.

    I can and will be working extra hours, but the more I work the more child care costs so I'm trying to figure out a balance with that. My DH can do some contract work on the weekends and hopefully even get some extra cash.

    turquoisecoast - I can see you are trying to help! At first I got a bit taken aback but it's very helpful. I need to hear my options which is why I'm asking the questions. The car is definitely an issue that I'm not sure how to figure out.
    the private health stuff is confusing to most people so don't stress, you're definitely not alone. we have the baby cover too with medibank, it's a horrible rip but what can you do. we prepaid our premiums on 31 March before the increase on 1 April. we prepaid 6 months worth (would've preferred a year but $3-4k upfront is a bit rough). anyway, after all that, we are going public for this bub. I actually phoned them to find out whether we get ambo cover included and after a very long phone call, I think we do.

    if you're unsure, there's an ambulance Victoria checklist online with questions you can ask your private health insurer. if any of the answers are no, you don't have it and will need your own cover. it's a bit of a joke how complicated they make it really.

    understand totally re wanting another bub. that's not something that can or should be put off until money gets better. you're definitely not crazy for considering it either, as you say, it's just a case of getting on top of things now and finding that balance between you working and childcare.

    sounds like the private health cover is a non negotiable at this stage therefore there must be other corners that can be cut to try and get ahead.

    have you any family that you could use for free childcare (like 1 or 2 days per week), even just short term to get ahead a bit?

    great that your dh has a work car, that saves lots.

  2. #52
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    Unfortunately we don't have family around to help with Childcare. Our only option is for one of us to work on the weekends.

    I've just put my calculations into that ASIC website and we should be left with an extra $150 per month once all payments have been made. I'm not sure if that's a lot or a little but I'm just glad we are earning enough to cover our expenses. I really thought our bills were more than what we are warning. Thank god they aren't!

  3. #53
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    I've just been in this.

    I paused the car loan and house loan. For as LOng as possible.

    Are you working? If not stop childcare.

    Go and see a financial advisor Anglicare or something like that. Your local community centre can help. They will offen help with vouchers too for food etc. then help plan your finances.

    Sell clothes, sell everything haha!! Plants EVERYTHING. I sold Thjngs I loved. I figured I can buy again when we are on our feet again

  4. #54
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    If u want another baby go public in your financial situation. I would talk to your bank about about consolidation. Has he found a job in same industry?

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    VicPark  (19-09-2015)

  6. #55
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    Quote Originally Posted by moosey View Post
    Ok girls, you have been so amazing with all your tips...I actually have tears in my eyes!! All I need now is $300 for my car repayment...hit me with your ideas! P.S I owe them an extra $300 for last fortnight...If I make a payment arrangement I will owe them $600 next week which is most of my pay (only working 8hrs a week at the moment).
    have you and dh lodged your tax returns? if you're due refunds, that could be a good way to fast-track a bit of money your way.

    another idea, although it sounds a bit desperate. have you got any loyalty membership points that you've accrued but not used? stuff like frequent flyer points or flybuys, etc. was just thinking if you've got unused points laying around, these can often be converted into gift vouchers or gift cards. I once cashed in a heap of mine and got a $250 gift card for fuel plus a few smaller ones which I used at Coles. again, it's not much but it could be a good way to cover everyday expenses without using actual cash. although from memory the actual cards took a few weeks to arrive in the mail which doesn't help you that much right now.

    once you're back on your feet, as a PP said, start building up a buffer (even just putting aside $40 or $50 a week or however much you can afford). in dire times, it will really come in handy.

    I also sign up to market research. it's very random and not something you get to really control if you're selected, but it's usually ok money for a couple of hours of your time. plus it's usually run in the evenings so you could work it around hubby's hours if need be. I actually did one recently at home, it was an arnotts shapes tasting one. I got an $80 gift card to sit at home and eat shapes. I wasn't complaining about that! lol

  7. #56
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    a financial counsellor is what you want to see, not an advisor. financial counsellors are free and offer impartial advice. advisors charge fees and are usually only interested in investing your money for commissions.

  8. The Following 3 Users Say Thank You to turquoisecoast For This Useful Post:

    BH-KatiesMum  (19-09-2015),Nemmi1987  (19-09-2015),Sonja  (25-08-2015)

  9. #57
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    May I ask where you sign up for market research?

  10. #58
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    Quote Originally Posted by DreamyMummy View Post
    May I ask where you sign up for market research?
    I have signed up to Q&A research. I got $80 for a discussion about pizza that lasted about 2hrs. DH has done a few that were taste tests from things like subway to beer

  11. #59
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    Hold on @moosey and @turquoisecoast somewhere in there the Medicare levy has been confused with the PHI rebate. They are two different things. As pp has said there are implications related to the Medicare levy based on income.

    The private health insurance rebate gives you 30% off the true cost of private health (tiered over certain income thresholds) and if you cancel your cover after age 30, you will be penalised in the amount of rebate you can get in the future. For every year above age 30 they knock a bit off the rebate - making it more expensive and the change is permanent.

    That said, it's still worth comparing your private health product, and ALL your utilities to get a better deal.

    Easiest way to do this is to ring them up one by one and say "I'm thinking of switching, give me a better deal". I note you said you're behind on some so this may not be optimal.

    If that doesn't work you can compare costs through iSelect or Comparethemarket.

  12. #60
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    I'm not talking about the levy (which everyone pays) or the phi rebate. the rebates are income tested too. I was talking about the surcharge which is the main reason people (who otherwise wouldn't bother) hold private hospital cover...to avoid paying the extra tax via the surcharge.


 
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