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Posts tagged with: FSA

5 Part-Time Construction Jobs to Take if You’re in Debt

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If you are having money problems and want to clear out some debt off the books, a part-time job can help. Generating more money by taking on a part-time job can put a huge dent in your debt. The construction industry generated about $2 trillion in revenue in 2019, you can get on that. There are great part-time construction jobs that pay well and will help you to come up with the money to pay down your debt.

1. Laborer

What does a laborer do? Just about everything that does not require a specific skillset. Laborer jobs are everywhere. As a laborer, you may work on a demolition team and do tear-outs. You may be there just to carry things or get things around. Laborers have a wide range of duties that typically do not involve using tools or require any specific knowledge.

According to the Department of Labor, the average laborer earns about $15 an hour. If you did that for 20 hours each week, think about the extra money you would generate to pay off some bills. It is hard work, but it is something anyone can do for some fast money.

2. Painting

According to the Kansas Division of Workers Compensation, about 40,000 occupational illnesses and injuries are reported each year. When it comes to construction work injuries, house painters, and commercial painters rank among the lowest injuries. This means that you can be a painter part-time and not have to worry about getting injured on the job because the odds are low that you will be.

Painters, even part-time painters, can make a nice chunk of money with a little hard work. If you can paint a room, you can expect to make about $250 or more per room after you consider supplies. If you painted houses only on the weekends and did it as a freelance construction gig, you can make up to $1,500 extra each month. That would be a game changer for your finances.

3. HVAC Assistant

Maybe you are not fully prepared to rip apart an old HVAC system and install a new one. Maybe you are not sure what a load cell is and what torque sensor units are or that they are designed to work in a wide range of temperatures from -452 degrees F to 450 degrees F. That’s okay. You can still carry tools and equipment, and assist someone that does.

Every new building needs a new HVAC system installed. You can work on the weekends with an HVAC installation company as an assistant to generate more money. The HVAC industry, according to IBIS, generates on average every year $40 billion. Go get your piece of the pie and find some part-time work as an HVAC installation assistant.

4. Construction Cleanup

Have you considered starting your own business to generate more money? There is a niche in the construction industry that does not require you to build anything. Construction cleanup can be a lucrative business and all you need is a vacuum and some cleaning supplies. After a home is built there is a lot of dust and debris left behind. Someone must clean up the mess. A construction cleanup business on the side is a great way to earn money, have your own business, and potentially find a new career.

5. Asphalt Repair

Sometimes earning a new skill is a great way to earn more money. Asphalt repair is a relatively easy skill to learn and it is something that you can do on the weekends. Homeowners are willing to pay for asphalt repair to keep their driveway in top condition. To start, you do not need heavy equipment unless you want to offer additional services like resurfacing. You will need some hand tools and to watch some tutorial videos, and then you can start making money.

The best way to beat down debt is to generate more income. A part-time job in the construction industry can be a flexible way to earn more money. Start your search today and be debt free before you know it.

Elective Medical Procedures While in Debt

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This is my second year with a Health Savings Account. Last year we only had routine doctor’s appointments, and I had banked a decent amount of money into the HSA. Our family out-of-pocket-max is $7,000 so that’s the amount I invest.

This year, and another $7,000 being invested, I knew I wanted to take the plunge on a couple of elective medical procedures I’d been thinking about for quite some time.

Why now? HSA vs FSA

For the first several years at my job (where I started work in 2015), I had a Flex Spending Account. The reason I’d opted for an FSA initially is that it allowed for more coverage with our insurance (lower deductible). That was important to me at the time, given that some of our medical expenses were variable and unexpected (helloooooo, kidney stones!)

The big down-side to an FSA is that the funds are use-it-or-lose it. As a result, I would contribute less money annually since it didn’t roll over from year to year. The “pro” for both FSAs and HSAs is that the money is deducted from my paycheck pre-tax, which is a nice tax advantage.

I switched to an HSA after tracking medical expenses for several years (so now they’re more predictable!). Also, being in a relationship with my now-husband helped because I had more stability in terms of income and living expenses, etc.

The down-side of an HSA is that you must use a high deductible plan and you pay for most medical care 100% out-of-pocket until your deductible is met. That’s why I have chosen to invest our out-of-pocket max ($7,000/annually) so we have a nice buffer just-in-case of catastrophic event. That said, we’re now into year 2 and haven’t hit our deductible, even with my routine specialist visits (due to chronic kidney stones I see a urologist and nephrologist every 6 months). We have a nice little stockpile of money growing in our HSA.

Long-term, the plan is to invest that money and watch it grow. It will be there for any medical expenses and, ideally, will grow to a substantial amount to help us in retirement with medical expenses. But on the short-term, I’ve had a couple elective medical procedures I’ve been really itching to get taken care of. Since we had the money sitting in our HSA either way – why wait?! I dubbed 2022 the “Year of Elective Procedures.”

Elective Medical Procedures

Big caveat – you can NOT use HSA funds for elective cosmetic surgery. My elective procedures do not fall into that category.

LASIK

The first procedure I had completed early this summer – I got LASIK eye surgery! I was very nervous about this procedure, but had been wanting to get it done for years. As I watched our HSA funds growing, I knew I wanted some of the money to go toward my vision. I do not have vision insurance and was paying out-of-pocket for annual eye exams, contact lenses, and glasses. I was spending approximately $1200-1500/year for eye expenses. My LASIK surgery cost $3700 and I was able to pay for it entirely out of my HSA. It cost me nothing from my regular paycheck/checking/savings and I figure it will pay for itself in 3 years’ time! Money well spent and it’s been priceless to be able to wake up and instantly SEE!

Salpingectomy

The second procedure is actually occurring later today. I’m having a bilateral tubal with salpingectomy. In layman’s terms, I’m having my fallopian tubes removed. This procedure is one-part elective and one-part medical necessity. The conversation started with my doctor because I want to have a hormone-free permanent birth control. I do not want any devices implanted in me and I cannot risk a pregnancy. Due to my health background, a pregnancy could be fatal (I had HELLP syndrome with my twins and am at increased risk of recurring HELLP syndrome if I were to get pregnant again). I don’t want to take any chances.

In speaking to my doctor, it was recommended that I have my tubes removed due to a family history of ovarian cancer, which originated in the fallopian tubes. By removing my tubes, I get the permanent hormone-free birth control I desired, and also lower my risks of ovarian cancer down the road.

This was a tough and personal decision for me and I don’t really want to talk politics or debate different birth control options. If you vehemently disagree with my choice, that’s your right. But this was the best choice for me and my family. That said, I didn’t make the decision lightly. I’m afraid of going under general anesthesia. I actually had this appointment scheduled for November 2021 and cancelled when I got cold feet. It’s happening this time though. If you are a praying type, I appreciate any prayers (or good vibes, well wishes, etc.). I’ll be going under the knife at approximately 3pm Arizona time today! I’ve been assured it’s a quick and easy surgery (as easy as major abdominal surgery can be), but I’m a big scaredy cat so I still have anxiety about the procedure.

Costs

Jury is still out about how much the salpingectomy is going to set me back. Google tells me that they cost approximately $11,000 and my insurance has me paying 10% copay, approx. $1,100. But the U.S. health care system is pretty messy, in my opinion. It’s been really tough to get exact costs. My doctor’s office says this procedure is 100% covered (just like my birth control pills are 100% covered by insurance). But I would be shocked and amazed if I didn’t receive some type of bill afterward. I received a bill from the surgery center for $350 and have already paid it. Basically – I don’t really know what to expect in terms of cost, but I have no doubt that I’ve got enough in our HSA to cover it, whatever it may be.

Controversial?

Is it controversial to be paying for elective medical procedures while still in the depths of debt-payoff? IDK. To me, I’d still be investing the same amount in my HSA regardless of whether I had these medical procedures or not. I feel like I might as well be taking care of my medical needs – after all, that’s what the money is for!

As I said, I do have a long-term plan to let this money grow, invest it within the HSA, and have it help as a buffer throughout retirement. But for now….why not use it if I’ve got it? Especially since it doesn’t impact any of my take-home pay.

 

What are your thoughts? Would you be open to completing elective medical procedures while still deep in debt?