But at the ripe age of 26, this exact scenario happened to me.
I was faced with a debilitating sickness that lasted two years, rendering me unable to work. After months of testing, my doctors found out I had life threatening Chronic Lyme Disease. I immediately enrolled in a natural treatment program, and after a few months of care, I’m beginning to feel better.
Looking back I realize there are many things I would have done differently. I was not prepared for this life-altering disease and many of my financial woes and stressful situations could have been prevented.
We never want to think about what potential devastating health and financial circumstances our futures might hold, but doing so can prepare or even prevent us from these catastrophes.
Five Tips to Prevent Illness-Driven Financial Hardships:
1. Invest In Your Health
This is the most important area of focus that we all must think about daily. The food and beverages that we ingest today, and exercise we choose or not choose to partake in will forever alter our futures. Choosing a diet of high fiber vegetables and fruit, lean proteins, whole grains, and low fat dairy products, can lower your weight and prevent disease. All adults and children should also engage in 30+ minutes of exercise daily. You can choose yoga, jogging, weight lifting, walking, aerobics, swimming; whatever you and your family most enjoy.
2. Save for a "Tornado-Day Fund"
This is an extreme “Rainy-Day Fund” that is used for health emergencies. What if your two front teeth get knocked out and you don’t have the best dental insurance? What if your child becomes sick and needs expensive testing that your health insurance won’t cover? Having an emergency “Tornado-Day Fund” will save your sanity when you are faced with any health emergency.
3. Purchase Reliable Health Insurance
Instead of choosing the lowest cost plan available, do your research and look over every option to determine what is the best affordable coverage for your lifestyle. You might want to consider purchasing health insurance for your pets. I've seen many people drain their savings accounts when their family dog or cat has unexpected health problems.
4. Look for Less Expensive Drug Options
Doctors prescribe medicine for ailments not knowing the cost of various drugs or whether your insurance will cover them. Many times there are perfectly suitable generic versions that work as well as their name brand alternatives. Do not be afraid to ask your pharmacist what other choices are available, it could save you hundreds or thousands of dollars a year.
5. Purchase Disability Insurance
I suffered financially because I was not prepared when my illness struck. The number one regret I have looking back, was not purchasing disability insurance. Disability Insurance can provide you with income when you’re too sick to maintain a job, allowing you to focus on recovery. I believe this is something everyone needs to invest in to protect themselves.
A devastating disease does not need to lead to financial destruction. When faced with a serious ailment you have enough to worry about, don’t let your pocketbook add to the stress. Preparing today for future problems gives you the peace of mind needed to battle anything that comes your way.
Written by Ashley Strommen
This blog post is from the Author's perspective and doesn't speak for brightpeak financial. Contact brightpeak if you want to know more about brightpeak products, and keep in mind that they are not available in all states and there are some limitations (some exclusions and restrictions may apply).
