Comments on: 7 Ways to Stay Poor

By: LAL

LAL — Thu, 30 Apr 2009 15:26:21 +0000

Isn’t the tax credit a loan that you pay back over 5 years?

By: JB

JB — Mon, 27 Apr 2009 19:57:32 +0000

The tax credit started in April 2008, I believe… it was only $7500 in 2008.

By: LAL

LAL — Mon, 27 Apr 2009 19:27:20 +0000

JB, I thought the tax credit was for 2009? How did you get it for 2008?

By: JB

JB — Mon, 27 Apr 2009 18:00:26 +0000

Well – we made it through 2008 with no real problems. In 2009 we got the first time homebuyers tax-credit (loan) from the IRS and put that along with our refund and added to our small emergency fund – all this combined made our EF over $14000.

The wife stopped working in early 2009 and I was able to cover everything with my income except the property taxes. I would move the taxes from our EF to our tax account every month.

Luckily for us, I got a raise and got promoted (additional raise) in the last few months. Our house is now about 37% (still high) – but we’re not starving.

By: LAL

LAL — Mon, 27 Apr 2009 17:55:40 +0000

How’d you do it JB? Congrats!

By: JB

JB — Mon, 27 Apr 2009 17:49:57 +0000

I know I’m late here… but thought I’d chime in since most of the comments are about my family. We’ve owned the house for a year now, our baby is 2 months old, our older child is 7, and my wife doesn’t work, our credit card balances are $0.

It can be done.

By: LivingAlmostLarge

LivingAlmostLarge — Thu, 07 Aug 2008 18:44:56 +0000

I agree, where they is a will, there is a way! My cousin will pay about $150 in the small town they live in. I think it depends again that there are few jobs around and this is better than nothing.

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By: Adonna

Adonna — Sun, 03 Aug 2008 06:35:01 +0000

I live in Charlotte, NC and here childcare runs from $120 /wk up to $160/wk or more.
Something that they may not have considered it what I am doing. I have two children 6 & 3 in a great private school /preschool. My hubby works Monday – Thursday and also Saturdays. I work Tuesdays & Thursday while 3yr old goes to preschool from 9:30am – 4pm and 6yr old goes to after school care until 4pm. Hubby watches kids on Fridays & Sundays, while I work.
In effect, I’m working 4 days per week and paying the equivalent of 1 child’s fees for full-time care even though I have 2 children that are going part-time. In other words, work when your spouse is off and use part-time care to fill in the rest.
Just something to consider. Where there is a will, there is a wayto make it budget friendly!

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Carnival of Personal Finance #163-”Quotable Quotes” « — Tue, 29 Jul 2008 15:53:57 +0000

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