When your health is suffering, your finances shouldn’t have to suffer too. Unfortunately, due to rising treatment costs and little or no sick pay, many Americans find themselves in financial difficulty after getting sick. Here are five ways in which you can stay financially healthy when ill.
Get the right insurance
Without health insurance, many Americans cannot afford healthcare. Make sure that you have some form of insurance in place. It’s worth always taking time to shop around and customise your plan. There are lots of tricks to cut the costs of health insurance as you can read here https://www.thebalance.com/save-money-health-care-insurance-4124456. Raising your deductible is one commonly used trick, but can mean paying more when you do suffer an emergency. One of the best measures that you can take is to live a healthy lifestyle – quitting smoking and exercising more are just two things that will decrease your insurance rates, by making you less of a risk.
Set up a rainy day fund
A rainy day fund is a savings account that you can dip into when disaster strikes. This could be money to help fund medical treatment, or it could be used to live off if you are sick and unable to work. Shop around for savings account to find one with the best interest rates so that any money you save money naturally grows. Online savers have become a more common option and tend to have high interest rates.
Know when you deserve legal compensation
If you were injured or made sick as a result of someone else’s wrongdoing, you may be eligible to legal compensation. This could help to cover treatment costs or help to pay the bills if you’re sick and off work for a long period. You can find lawyers at sites such as https://ericpalacioslaw.com/areas-of-service/personal-injury/ that can help you claim this compensation. The amount you are compensated may depend on the injury and circumstances.
Talk to your creditors
While ill, you may not be able to keep up with bills if you aren’t earning. By talking to your creditors in advance, you can warn them about this. Many creditors will be sympathetic and may agree to delay bill payments without any extra charges. This could stop you from getting into unnecessary arrears. The earlier you warn creditors the more likely they will be sympathetic to your cause.
Find ways to make money online
You may not be able to carry out your day-to-day work when ill, but there may still be other ways of making money online from home. This could include completing online surveys, selling unused possessions or getting paid to write. This guide offers a number of ways in which you can make money online.