Hi r/personal finance! I am moving to either Oxford, OH or Hamilton, OH to at school at Miami University in Oxford. I have been speaking with current graduate students and it appears they are able to make the stipend work and not incur debt (one girl used a credit card the first semester; another took out 1500 for moving expenses).
So my stipend $15,224 if I were to purchase university insurance - Aetna - as well pay student fees that is about 14,441 per year. That leaves about $1200 a month.
My Monthly Budget is as follows:
Food: 200 (would like to try to get on food stamps over there) Emergency/Savings: 100 Utilities: 80 Rent: 500 Internet: 45 Phone: 50 Books: 100 (I don't believe I'll be paying this much for books a month but needed to factor it in somehow) Shopping/Going Out: 75 Hulu: 10 Credit Card Payments: 80 Errands: 60 = $1120 (I believe I would use the extra $80 towards food, savings, and/or credit card debt). + A one time cost of a bike if I don't have a car.
So, I've used all of that money. But I haven't accounted for medical co-pays (I have fibromyalgia/chronic pain, multiple mental diagnoses, scoliosis, I would like to get test for ADD or some other cognitive disability I might have). I would like to attend specialized therapy such DBT (group and individual), Schema therapy, Acceptance Commitment, and therpay for C-PTSD, maybe EMDR or EFT regularly (1-2x week), I need my prescriptions, and I like to begin physical therapy. I also would like to buy a medical marijuana card and factor in the cost per month for that (I would say $60). If I do live in Hamilton, I would like to bring my car, and even if I don't I'd like to venture to Cincinnati for some big city things which might be better access the specialized healthcare.
I would also like to bring my car which is another situation entirely. I have a 1997 Honda Accord with about 160000 miles on it, the speedometer is broken but that about what it read the last it was fixed a few weeks ago. It has no air conditioning, the windows in the back are sealed because the wouldn't go back up a few years ago. The passenger side door only opens from the outside and tinting on the windows is kind of bubbly. I was in an accident with it a few years ago and had to get the front right side axel fixed and it just started veering to the right a few weeks ago which I got that fixed and the brakes done for $250. It dies randomly which I think is an issue with the alternator since there's always been a new battery in it. But all in all, it still drives really smooth. I've looked only for quotes to ship it and it ranges from $590 - $740.
with a car additional expenses would be Gas: 40 Car Maintenance: 70 Car Insurance: 80 (based on a quote I got from e-surance) and plus let's say a medical copay of $100/month = an extra 290
I should have about $4000, when I leave which will go towards a plan ticket, 1st/last rent and deposit, furniture, and additional savings.
Is there a way to recalibrate my budget to allow me to bring a car or is it simply not possible without additional income? I do plan to look for a second job but that won't be till I get there. The utilities and rent are just estimates they could a bit less but certainly not more than that in order for my budget to work. Also does anyone have any experience being on medicaid and moving to a different state? I have medicaid in Arizona and am considering doing this in Ohio. The person I spoke with told me I would have to cancel my case and Arizona and it would be a 30-45 day processing time. So I would have no insurance for almost 2 months.
All the insight would be appreciated!
July 02, 2017 at 11:14AM
