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Thread: Need a good plan

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    Member Xmacknmadix's Avatar
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    Search Need a good plan

    Ok i will be moving to El Paso here pretty soon or at least when i got money situated. Im going to be gonig to school over there for midwifery. Im just wondering what the best and smartest way of doing this. Here are some factors.

    1.) tuiton and books = $6300
    2.) i have two children to take with me
    3.) i was told living can cost $400- $800 a month including rent
    4.) car insurance
    5.) emergency money

    Anything else i should consider or add to saving. HOw should i save this? Should i open certain types of accounts. I just had my second six weeks ago and im wondering how long i should wait before i leave or should it not matter. Im just getting back on my feet, my ex left me with nothing and pregnant. i still have to get other things such as furniture and things for our apartment. I need a good plan and there are some smart ladies in here. lol. i dont make the best decisions...

    As for childcare i will be sharing childcare and splitting rent. i dunno this is frusturating not knowing how to do things. anyone help

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    Banned Melonie's Avatar
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    Default Re: Need a good plan

    definitely hit up social services !

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    God/dess Gynger's Avatar
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    Default Re: Need a good plan

    You should also qualify for many grants since you are a single mom and educating yourself... make sure you get any and all information you can, you may not have to pay as much for books or for school..

    Good luck!


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    Member Poppy Corn's Avatar
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    Default Re: Need a good plan

    1)Go to social services! WIC is great w/ student moms. They take forever, so get the ball rolling ASAP.

    2)Talk to the school. Start w/ finaid office, then dept. advisor, and the academic advisor (for time management and possible clearance to take easier classes first), then back to the finaid office w/ any new info you learned from the dept advisor. The school dean may even allow you to make an appt and hear your case.

    3)At least get liability car insurance to start, and move up once youre settled. It would suck to lose your car because it needs repairs you can't afford. Geico and USAA have good rates, but research before buying from anyone.

    4)An emergency fund should cover 6 mos. of living expenses. Save money to open a money market or savings account w/ the min requirements. Toss aside $5, $10, anything you can each week until you're stable. Do not touch it unless it's an emergency. If you're on public aid a bill may not be an emergency, but staying in school and not homeless or a kid's dr. visit (or school activity, whatever) will. (You should be on food stamps, btw, so no worries ever about starving)

    ING direct (no I don't work for them) does not require a minimum to open an account but they do require that you at least have a checking account in the first place. Your money will accumulate interest with them at above inflation, but it will take 3 days to withdraw your money if an emergency arises. If that's not an option, you may want to check other banks.

    I'm not an expert, just a smart lady here. A financial planner may know better, but if they're not a friend they cost more than you may have. Your school might have a class you can take that teaches professionals; take it if you can fit in your schedule.

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