so--what do you now have to pay monthly--instead of yearly?

Discussion in 'Homesteading Questions' started by ceresone, Apr 27, 2006.

  1. ceresone

    ceresone Well-Known Member Supporter

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    Ours is the farm insurance--used to pay it every year, ran about $400. now, we have to pay it monthly--gone to over $1200 a year. that plus medigap insurance,$265. a month--new drug program,$56 a month, car insurance, $90. a month--and mind you, this is in addition to the regular payments!! out of Social Security, we also have to manage winters gas, animal hay, chicken feed-- how are the rest of you managing, with gas prices--and electricity-going up every day?
     
  2. Maggie

    Maggie Well-Known Member Supporter

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    I'm interested in reading other people's answers to this question. We put 'payments' for the auto insurance in an envelope twice/month so when it's due every 6 months the $$ is there. I had one car insurance co. quote us extra money each month if we didn't pay it in full for 6 months. :grump: What a money making scheme!!
    Our propane furnace has been broke down since last spring, thankfully we have a free-standing wood burner which heats our 1000 sq. ft. house quite well. DH and DS have been cutting, splitting and stacking firewood since late January for next years heating season.
    As far as the gasoline prices, we TRY to plan our trips to town to only once/week. DD drives 35 miles one way to go to cosmetology school, thankfully DH works 7 miles from home. Sometimes our daughter spends 1-2 nights in town at a friend's apartment, which helps with gas money, too.
    I always like to hear how others are keeping within their budget!! Have a great day, Maggie
     

  3. Dahc

    Dahc Don't Tase me, bro!?!

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    We are not able to insure farm equipement, animal housing structures or property in general. Our cost of living comes to just under $660 a month. It has to be that way or we would do without food, toilet paper and shaving cream. My wifes check feeds the animals,pays for fuel, pays the phone bill (considered a luxury here w/ internet) and sometimes can pay for small repairs or additions to the animal housing.

    We can't afford anything above "bare bones" for insurance. We have one used vehicle that is in my dad's name. He pays the insurance for it in exchange for property maintenance. The medicare prescription plan doesn't cost me anything and medicare costs $66. My wife has insurance through walmart, her employer. They don't pay a whole lot and I think it costs around $33 a week.

    Even with all this, we are greatful for what we have and know that it could be much worse and eventually, probably will be.
     
  4. Jan Doling

    Jan Doling Well-Known Member

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    I was just griping on the foreclosure thread about the increase in taxes and insurances that caused a $7500 escrow shortage. I don't think the county lets you pay the taxes by 12 months of installments, so I suppose I should be glad it is part of the mortgage payment each month. And it is more convenient to pay the taxes, insurances and mg in one payment in one envelope. I get paid every two weeks so I took it upon myself to pay the escrow shortage separately in the first half of each month and the current escrow, principal and interest in the second half. I'm hoping the mortgage company will accept my creative plan. If I weren't a single mom, I would try to get a few payments ahead on things as a security cushion.
     
  5. Alex

    Alex Well-Known Member

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    Location:
    Vancouver, and Moberly Lake, BC, Canada
    • Vancouver Condominimum Insurance, yearly $500
    • Boucher Lake Log Cabin and Quarter insurance, yearly $1,000
    • Truck insurance monthly, $145, yerly $1,740
    • Little Red (1990 Tempo L -- she's red) insurance monthly $120, yearly $1,440
    • Medical insurance for two of us, monthly $96, yearly $1,152
    • Condominimum fees in Vancouver, monthly, $320, yearly $3,840
    • Taxes in Vancouver, postponed until our death or sale of property, $0
    • Tax at Boucher Lake Road, yearly $150

    OH my gosh, $9,822

    Yikes,

    Alex
     
  6. bostonlesley

    bostonlesley Guest

    I'm confused..
    Not doubting anyone..just wondering why anybody would have to pay vehicle insurance monthly plus every 6 months (or yearly)? I've never heard of that..
    I pay $300 every 6 months for automobile insurance. How does it work that a person pays monthly and more??
     
  7. Jan Doling

    Jan Doling Well-Known Member

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    so you pay $600 per year ($300 every 6 months). If the company allowed it you would pay $50 monthly instead. Usually this is done because the annual fee is so large it knocks your socks off.
     
  8. bostonlesley

    bostonlesley Guest

    Yes, I know..I was speaking about Ceresone's original post..it says $90/month for automobile insurance in adition to the regular payments ..maybe I didn't interpret it correctly???
     
  9. ceresone

    ceresone Well-Known Member Supporter

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    Sorry, I left out a comma, after the car insurance--regular payments referred to place payment, electricity, phone, etc.
     
  10. jassytoo

    jassytoo Well-Known Member Supporter

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    I started paying our home insurance quarterly this year. This is the first time in 30 years I've done that but its 1600 dollars a year. Its due the same time as the first half of the property taxes are. The cost of both is just too much all at once. :Bawling:
     
  11. bostonlesley

    bostonlesley Guest

    Oh Ceresone..I get it ..no problem..

    A few years ago, my homeowners insurance went up 30%..I nearly died seeing the premium notice. I called the company asking why?? The explanation was that they had "suffered" losses that year due to a lot of hail damage and tornadoes and were passing it on to all of their clients..even the ones who had no claims. Wait a minute! I was just the other side of livid.

    It took me a few days, but after many telephone calls I was able to find a different company and switched my homeowners immediately. Saved me as I recall, close to $400/year..then I also added my car to that company and got a further discount for "multiple policy holder". I always have a $1000 deductible on auto insurance, and keep that amount in the bank for strictly that purpose. Higher deductibles drop that premium, plus I earn interest on the money.

    I sat down and went over that Medicare Part "D" thing and determined that it would cost me money, so I didn't sign up for it and I'm not going to. The medication that I take, Topamax, has no generic and I get it for free from the manufacturer, Ortho McNeil..have been for 4 years. With Medicare Part "D", I'd be dropped from that free program, and have to pay $38/month for Part "D", plus $148/MONTH for the Topamax..why on earth would I do that?
    The drug company sent out a letter saying that they'd be happy to continue providing the free medications if an individual didn't want to sign up for Part "D"..works for me.

    I don't have Medi-Gap. I pay the 20% that Medicare doesn't cover. It costs me $24 for a regular office visit, and $54 for a specialist. $900 for in-patient.
    The only drawback is that big surgery I need..can't have it until I come up with $5K..oh well..beats paying $256/month I don't have (for me anyway) for Medigap..I'l just wait.
     
  12. Junkman

    Junkman Junkman

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    Wild Wonderful West Virginia
    Just paid, this month, yearly premium of over $900 for farm insurance and over $1800 for vehicle insurance. We save all year for the premiums and pay them when utilities are lowest. dh's health ins premiums are paid with her
    accumulated sick leave. Every 3 days pays a months ins until they run out.
    We too are retired and have found out we don't need a lot of what we thought we did! Raise most of what we eat and don't use credit cards.
    Our TV is a 1979 issue and we would rather read than watch it. So, we trade books with other readers. Our advice to youngsters is, Stay Out Of Debt as much as possible! We are happy.