Need Access Expense Questions

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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KatyMarie
Posts: 616
Joined: Fri Jun 21, 2013 2:16 pm

Need Access Expense Questions

Postby KatyMarie » Sun Feb 16, 2014 12:29 pm

Maybe I'm just super disorganized, but how does anybody have any clue what to fill out for things like "Other Untaxed Income/Benefits - 2013" and "Medical/Dental Expense - 2013(Ref. 3q)"

My parents help me out with some stuff (cellphone bill, medical insurance, and little stuff like taking me out to dinners etc, certainly gifts on holidays), but I have no idea what amount to put under "Other untaxed Income/benefits," there's just no way I could come up with an accurate number.

I also have no clue what to put for Medical/Dental Expense. My parents pay for the health insurance, but I'll pay whatever the copay is, or cover it if insurance doesn't. But I don't keep track of receipts every time I go to the dentist or doctor etc.

How are people estimating these things? Does it matter if it's off the mark? I'm so confused here.

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yossarian
Posts: 1303
Joined: Tue Dec 17, 2013 2:45 pm

Re: Need Access Expense Questions

Postby yossarian » Sun Feb 16, 2014 12:33 pm

KatyMarie wrote:Maybe I'm just super disorganized, but how does anybody have any clue what to fill out for things like "Other Untaxed Income/Benefits - 2013" and "Medical/Dental Expense - 2013(Ref. 3q)"

My parents help me out with some stuff (cellphone bill, medical insurance, and little stuff like taking me out to dinners etc, certainly gifts on holidays), but I have no idea what amount to put under "Other untaxed Income/benefits," there's just no way I could come up with an accurate number.

I also have no clue what to put for Medical/Dental Expense. My parents pay for the health insurance, but I'll pay whatever the copay is, or cover it if insurance doesn't. But I don't keep track of receipts every time I go to the dentist or doctor etc.

How are people estimating these things? Does it matter if it's off the mark? I'm so confused here.


It's meant to be an estimate. You can probably ballpark how many times you went to the doctor, multiply by your copay and add a contingency or extra expenses you know about.

I think a little bit of honest thought could result in a much closer number than you think. It took me about 2.5 hours to do my part of the form, but you can come up with good numbers for things like insurance, cell, etc. I wouldn't (and didn't) include family dinners and the like. Unless it's weekly or more often, I'm not sure that counts as a benefit toward your living expenses, that's just part of being a person.

You seem to be over-thinking it and becoming overwhelmed. Just do some math, come up with honest estimates, and don't worry that they're off.




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