Ok, I think that’s all. I hope you can help!!

i am receiving a substantial tax refund this year due to the fact that i was in school for part of last year and received credits due to that fact.

i am currently unemployed, but i have been offered a job…there have been a few kinks and i am hoping to start in two weeks (although there is always the very small possibility that things could go awry and i may have to begin my job search over again).

i have numerous student loans (most in grace period or economic hardship deferment), and almost $3k in credit card debt at 24% interest.

i’m trying to decide if i should throw a large chunk of my return at my credit card debt because of the crappy interest rate (min. payments are just over $100 right now), or if i should only make a small payment and reserve the refund money in the small chance that i don’t end up starting the new job in two weeks.

i really hate having this credit card debt, and so my first inclination is to pay off as much of it as possible, but i don’t want to make any rash decisions. any advice is appreciated.

thanks!

My husband and I are expecting our first baby this August, and have recently begun talking about starting a college savings account for her. We know about 529 plans, but have questions like what happens if she gets a full scholarship? Or, if she doesn’t go to college? Then, a 529 plan doesn’t seem ideal. Are there other routes we could/should take? What do you recommend?

Thanks!

My husband and I are looking to buy a house in 3 years or so. I am currently working one day a week and am going on maternity leave this summer. I have the option of either going back to my one day a week schedule, being on call, or quitting all together. I will have worked for this company for over 2 years at that point.

I’m leaning more towards either being on call or quitting all together. Would either of these options negatively impact our ability to get a loan, since we would technically become a single income family? As it is now, my paychecks are picking up the little things in life like birthday gifts, etc, so we really only live on one income.

Thanks!

1) I bet the couple has some student loan debt or had previously been paying it down aggressively. My partner and I gross about $320K a year, but have approximately $2300/month student loan payments between us — a combined debtload of $260K.

2) Kids are a budget-buster in NY. I imagine they have a nanny because both of them have jobs where they may not always get off “exactly at 6″ to pick up the children from daycare.

3) The apartment on 5th Avenue was probably used as an investment vehicle. Something lots of people tried to do.

I’m not saying they don’t need to cut back in certain areas, but I agree with Meg: they are two people with demanding jobs and are just trying to do what is best for their children.

I think that the real lesson to be learned from their story is that even people making $400k can’t necessarily afford everything that they desire. Chasing higher and higher salaries is not going to make you any happier if you don’t already know how to be content with what you have.

Keep up the good ideas Trent, they are very useful!

At this point, those oil life monitors are accurate enough that warranties are based on them (meaning you just need to get an oil change when it tells you to if you don’t want to void your warranty). And it helps the environment, too!

Yes, it’s hard to cut your level of spending from a level you’re accustomed to, especially if the reason is due to external factors you had no control over. However, the “self-employed/hard working” excuse mentioned by others above is always a load of bull – poor != lazy. There are plenty of hard working people who have to worry about keeping a roof over their heads or where next week’s meals are coming from.

But, nobody with that sort of income is ever going to be in any real problems. Many families who are truly “getting by” won’t see that kind of money in TEN years. They just have to cut back on the many luxuries they have until the economy improves. Don’t think they have an extravagant lifestyle? Their food budget alone is more than many hard working people get, and that’s assuming their employers haven’t laid them off or their own business have gone under. If they can’t afford the level of child care they’ve committed themselves to, then a sacrifice will have to be made.

At the end of the day, they are not entitled to every luxury they are “accustomed” to, for themselves or their children. If their only problem is worrying about whether they can afford to spoil their kids rotten or not, they haven’t got any real problems. Many people have lost everything through no fault of their own in recent months, and it’s hard to have sympathy for a couple like this when other families are living in tents. They have a thousand more options than most families. Undesirable options that might take a bit of pride swallowing, perhaps, but options nonetheless.