Tuesday, May 21, 2013

Whats the cost of living in New York for two months?

Q. Hi! I´m traveling to New York and I´d like to know how much will I need per month. My apartment is already rent and my tuitions too. I also have healthy insurance, so it wont be a cost. I´ll need money only to transport and food (lunch and dinner).
Thanks a lot!

A. As long as your housing, etc. is all paid for, you can live decently cheap in NYC if you know where to go and what to do. I have no problems living off $15 per day, including drinks, food and fun.

Try eating falafel, usually $2.50 and you're full. Buy your own food and cook. Maybe eat Ramen every once and a while. Order your groceries from Fresh Direct. Go to the free museums like the MET and the Natural History Museum (They only ask for a donation). Spend a lot of time walking around and people watching. Hit up happy hour for drinks. There are plenty that have $1 drafts until 6pm and many times free food at the bar until 7pm. Spend most of your time in Greenwich Village and stay away from the tourist traps in Midtown.

This site is about saving money in NYC. You may want to check it out. But, if you budget well, you can easily live off os $10 - 20 per day, depending how frugal you are. I even had a friend who made it on $5 per day.

http://www.CheapInTheCity.com

Good luck!


Could I get healthy insurance through my boyfriend's benefits?
Q. We have lived together for over a year now and a couple people have told me I should be able to be under his healthy insurance if he received it from work, or viceversa. Is this true? We live in NC I don't know if that would make a difference.
haha just a typo, I know it's not healthy

A. Only if his employers plan allows shack ups to qualify for health insurance. However, very few employers pay for this.

Not what you want to hear....but the way to get on your boyfriends health plan....is to become his wife.

Live in girlfriends do not have the same legal rights as a wife.


Which healthy insurance company is good to go with?
Q. I think I'm paying too much for my insurance with little coverage right now, so I'm checking around to see what other good health insurance companies are available to switch over.

Please give me some recommendations. Thanks.
sorry, the headline should be which health insurance, not healthy.... :-)

A. Depends on what state you live in. Try Cigna. Or Blue Cross.


Is your healthy insurance premium tax deductible? Is it better to do a group plan or individual plans?
Q. I have a small company with three employees - is it better we get a group health insurance plan or all get individual plans? what are the tax benefits? I was told you can deduct more of the premiums if you are a company rather than an individual?

A. I have been a tax accountant for 27 years. I do not have enough information to give you a reliable answer to your question. However, you should look into a relatively new tax development called the HRA or HSA. Your bank should be able to provide you with information as to how these plans work. They are very flexible and work only when people purchase high-deductible health plans. The HRA or HSA accounts are used to pay out-of-pocket medical expenses (but not the insurance premiums) such as your deductible or co-pays under the plan. They are like IRA accounts for your health. I like them a lot. Please don't be a fool; consult a tax professional. You are in a very complicated area of tax law.





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