moonlighting on another blog

I have written a piece for Rana Cash’s blog over at the AJC this week.

Happy Reading:  http://blogs.ajc.com/atlanta-bargain-hunter/2010/08/24/7437/

Healthcare…….

Being self-employed I watch my healthcare costs very closely.  We have a high deductible plan for the family (no maternity coverage if you have read the earlier posts) to save money on the monthly premiums.  What that means is that outside of normal office visits for the kids, I have to eat the cost of everything until I reach the per person deductible of $3000.  This also means that because the wife likes to take the kids to a “pediatric dentist” instead of the few that are offered in our plan that we pay full cost.  Don’t even get me started on what those fillings cost!

Needless to say, I don’t frequent the doctors office unless I am feeling like death.  I also encourage this for the family although they are a bit quicker to go for their ailments.

This all leads to today’s post regarding a recent trip to the emergency room.  Since we are still debating healthcare in this country I figured a real-life example would be appropriate.  Before I get any nasty emails this is not a political discussion and is not a slap against doctors or hospitals.  I work with a number of physicians and completely agree that they should be compensated well because of their skills and knowledge.  I also understand that hospitals can charge their fees because they provide the equipment, facilities and services.  I accept this and like every other capitalist I believe that you can charge whatever the market will support.

So, a couple of weeks back my son had been suffering from a multi-day stomach virus that would not seem to go away.  I had been a bit concerned because my experience with viruses is that they last about 24 hours and then you get better.  After having this thing for 4 days he woke me up at 12:30am on a Sunday night complaining of severe stomach cramps.  He was in pain and my inital thought was that this may not be a virus but something more serious like appendicitis.  So I put him in the truck and rushed over to the local hospital emergency room.  We were immediately put in a room and promptly attended to by an ER Nurse and then checked out by an ER Doc.  (both great folks)  The doc did some general tests such as blood work and physical movement which ruled out the appendicitis, but thought that a CT Scan would be warranted to make sure (and I agreed).  Finally at 4:30 am we left the hospital and went home. 

The following bill arrived in my mailbox a week later:

• med-sur supplies      $71
• Lab                                  $275
• Urology                         $88
• CT Scan                           $5048
• ER room                         $1706
• drugs                                $466

so the grand total for 4 hours at the hospital was $7654 (i paid a $150 deductible upon entering).  Once again I am not against paying folks what they are worth, but even if I wasn’t a miser this seemed a bit steep.  I agree that the doc, nurse and facility are worth their charge.  My gut tells me the CT scan and drug charge is off base, but since I don’t have any other access to a CT scanner I guess it doesn’t matter what I think!

So the thing with insurance is that they have negotiated rates, so even though I have a high deductible my insurance company followed up with an itemized list that reduced the charges based on “contractural adjustments” and the total bill came out to be $1109.

After this ordeal I am left to ponder the following things:

• if I did not have coverage and was a cash paying customer, would I have gotten the reduced rates or been stuck with the inflated rates?
• if the state / fed government let hospitals expand and buy equipment as they wanted, would it not bring the prices down due to competition?  (did you know that the hospital has to get approval from the state to have a CT machine (or to add any equipment/service)?  did you know that the hospital has to get approval to add even one additional bed?  (so much for free market competition)
• exactly what would be a fair cost for the treatment we recieved?  I am guessing somewhere between the inflated rate of $7654 and the insurance rate of $1109.

even miser’s can have flaws

The wife is starting to make fun of my newfound hobby.  So I figured I would air it out here on the blog.  It’s not really a hobby but more of an addiction of sorts.  It’s……Craigslist.com …..

I will admit I have become a craigslist addict.  It all started when I decided to get rid of a few household items that were piling up in the garage: old set of golf cart tires, small bookcase and then we sold our treadmill.  After I sold a few items on Craigslist I started searching for stuff that I could use in my basement finishing project.  So I bought a set of custom shelves from a cabinet maker.  I got them for well below what the custom order would have cost and so that began my evening addiction of searching Craigslist.com.

My next project has been the possible move of my office.  In planning this I started searching for used office furniture.  Well this led to a trip to Nashville to pick up a great deal on a couple of really nice office desks.  It then led me across town to purchase some filing cabinets (once again a great deal).

My latest craigslist purchase was 4 five gallon containers of stone/concrete sealer.  I was in need of some sealer for brick patio that is looking a bit worn down along with a slate tile that I recently put down in the basement.  If you have ever purchased sealer you know this stuff can run as high as $50 for a gallon, so when I found 20 gallons for $200 I knew I hit paydirt.  Don’t ask me what I will use 20 gallons of sealer on.  Hopefully, the stuff stays good for quite awhile!

Craigslist is definitely a great tool for those looking for a deal.  It’s only drawback is that it can also be addicting as well.

new planning newsletter out

For those that like to read the more serious stuff regarding personal finance:  The Advisory Firm Financial Planning newsletter

The April e-newsletter is out.  All about IRA’s part 2.

Relationships & Money

The purpose of this blog from the outset was to add a bit of humor to the world of personal finance.  I figured what better way to do that than offer up a real world view of what it is like to be married to a financial planner.  I have no problem poking fun at myself and the posts are sort of a tongue and cheek way of showing that no one is perfect.  The ultimate objective is to hopefully share that all couples approach money differently but that compromises can be made.

Statistically, money issues rank among the highest reasons for friction in a marriage.  As a financial planner I see it every day and in this recession it is getting worse. 

The take away from this blog should always be that spouses will not agree on every financial issue, but we hope that by having a laugh at our expense will enable you to figure out a way to compromise on money issues in your relationship.

now back to the rants!….she wants to take the kids to Disney over spring break, the one time of year I hate to travel.  The crowds, the inflated hotel rates, etc.   Did I mention the crowds?  I really hate crowds……..

I’ve been a bad bad girl

Thought that might get your attention! No, I haven’t been on a spending spree., but rather I have not been “blogging” as often as I should! I must say that I was pleasantly surprised by my husbands last blog. I got “kudos” for being thrifty, allbeit  I had to “read” about them instead of actually getting a good old pat on the back, but I got them just the same. And I have been pretty thrifty. We are taking a little hiatus from “basement spending”, until we figure out which project to start on next…bathroom or wine cellar. I’m not sure which one is more important…a bathroom for our guest room, or a place where  I can relax in the evening and drink a nice glass of Pinot. I mean, theres a bathroom right at the top of the stairs, and how often do we really have overnight guests anyway?

But seriously, I really did a great job budgeting on our basement. I did buy a chair & ottoman for the guestroom, that my husband got a little crazy about, but both pieces were on sale and it was really the only purchase over $500 for the entire room. We bought the furniture (dresser & side tables, bed frame & mattresses) on Craigslist. We made the headboard, and I had bedding and pillows made for next to nothing!  We still have a few things left, like a ceiling fan and a rod for the closet, but other than that I think our total amount spent for the guestroom was around $1800.00 including paint!  Pat, pat, pat!

Thank you!

America Saves Week, what about you?

Okay, so did you know that this is officially “America Saves Week’?  This sobering statistic is why official weeks like this are needed to promote financial literacy and savings:

• National Savings Needs:  Most Americans do not have adequate savings to meet major emergencies, let alone accumulate enough savings for retirement.  The typical American household has less than $100,000 in net wealth, including home equity and 401k accumulations, and only about $10,000 in net financial assets.  Lower income families have much fewer resources. 

To learn more about America Saves Week click on the link:  www.americasavesweek.org

in my next life

Okay, short post this week as I am a bit lacking for words.  I recently had a revelation that if I were to come back in another life it would be as a Hair Stylist!  Geez, the amount that females will spend at the “salon” is insane.  I have determined that I am in the wrong business.  Face it guys, you know these folks that own the salons are sitting back and laughing at you.  They know there is absolutely nothing you can do to deter your wife from spending boatloads to get her hair done!

I’m tired of waiting!

Ok..I know the hubby just posted a blog about how painful it is for him to finish the basement…blah blah blah! Don’t feel sorry for him. We have been in this house for over five years with the plan to finish the basement in “a year or two.” Well each year would come and go, and still no basement. We have desperately needed a playroom and a guest room and so now we almost have that. We have been very budget conscious while doing this project, and I have paid for a lot of things myself with my small but reliable “nest egg.” I have painted, designed, hunted down things at IKEA and Craigslist and done a pretty good job on a tight budget. So don’t let him fool you…yes the floors were a big expense (around $5K), but he installed them himself (and did an excellent job.) And lets not also forget that we are increasing the square footage of our home by 1/3 and adding serious value to it as well. In a week or so, I will post photos of the finished playroom and bedroom. Keep posted.

Smart Phones, iPhones, etc….

So, Hope had been on me for months to get her an iPhone.  I finally broke down and got her one for Christmas.  I was really dreading the purchase of this trendy device.  Why, you may ask?  Well because I am frugal and practical!  These phones cost a fortune but worse than that is the additional monthly charges on your cell phone bill.

For the last couple of years she has been using the phone you get for free when you sign up for 2 year plan with the provider.  I thought that was sufficient, I mean the phone is for calling folks right?

Well she said she wanted to check her emails remotely and listen to her iTunes without her ipod.  In the end she always wins, but I try to put up a good fight anyway.

To me these things are the biggest time wasters ever.  Well maybe second only to Facebook.  Really, with all the “apps” you can waste hours playing with the silly phone.  I can undertand email, especially for business use.  All the other stuff just seems like fluff to me. 

MISER TIP: I finally rationalized the purchase by buying stock in a little microcap tech company that does what?  Sells apps for smart phones!