Financial Cut Backs You Should Never Make

There are plenty of blogs out there that have advised us time and time again how to handle our finances, keep track expenses, make a budget – all in the effort to save money. While we stand by these strategies to help us pull back on spending, some things are just non-negotiable. There are certain types of expenses that will protect you from an even bigger one. Below are some of the financial corners you should never cut:

 

Healthy Food

Even if processed food is cheaper and easy to prepare, it’s not worth it to risk your health just so you can save a couple of bucks. Healthy foods are higher in nutrients and satisfy you for a much longer period of time. All you need is proper planning and the willingness to dedicate a bit of your time to really prepare and think about meals. Also, it would be a lot cheaper to buy fruits and vegetables that are in season plus these produce are more flavourful at their time of the year! For your reference, below are some of the fruits’ seasons:

Remember that proper nutrition can save you money on health costs associated with diabetes, high blood pressure and other health problems attributed to poor eating habits.

Insurance

 

Insurance is an important financial safeguard against accidents. First, auto insurance is vital because car accidents can cause expensive automobile damage and physical injuries. These days, it’s not enough that you follow traffic rules or practice safe driving. Yes, driving safely can greatly save your life and the lives of your passengers and pedestrians, but accidents are one of the things we cannot control in life. Every time you hit the road, your life and property are at stake.

If you cause a car accident (knock on wood!) just like what happened to the coastal road accident happened last week, your bill for property damage and medical injuries could force you to a financial downturn. Paying the insurance premium is much cheaper than waiting for something to happened before taking precaution.

Although all vehicle owners in PH are required a Compulsory Third Party Liability Insurance (CTPL) that protects the insured from indemnity or financial obligations to any third party who is injured or killed by the insured vehicle, unfortunately the driver of the vehicle is excluded from the CTPL. A comprehensive car insurance offers a wider coverage to owner and the vehicle such as loss and/or damage of vehicle, excess bodily injury, property damage, no-fault indemnity cover, and auto passenger personal accident. Click here for more tips on getting a car insurance.

Second, health insurance works the same way. Medical bills can quickly add up and lead to significant debt, which is why it’s important to have coverage before you get sick. Although Philhealth is there, it will not pay everything especially when you are confined in private hospitals. Philhealth can only pay a percentage of the total bill and it cannot be used for outpatient services (check-ups) and for dental services. Additionally, health insurance actually promotes good health habits because you’re more likely to go to the doctor for routine checkups. Click here to compare on some of the best health maintenance organization in the country.

 

Personal Safety

It is inculcated in our minds to always practice personal safety everyday. We look at both sides of the street when we cross the road, lock our homes before we leave, drive cautiously to avoid road accidents – the list goes on. These are all subconscious decision that does not come with a price tag, which is why you might be asking yourself how personal safety will cost you.

Let’s take for instance you are in dire need of a car and buying a cheap one just to get through to your routine seems like a wise choice. Surely there will be times that will call for this type of decision-making due to financial constrains but you’ll almost always regret it in the long run. This is the time you should be willing to spend a bit more on a vehicle that could protect you instead of a beat-up old car.

Another example is safety gear. Sure bike helmets are bulky and nobody likes wearing them but they save millions of life everyday. Most often than the not, people don’t regret buying or renting helmets especially if it protected them from a head trauma. Same thing goes for the aqua shoes people wear during their trips to the beach. It may not be exactly pretty when paired with a bathing suit but it is life saving. It protects the feet from stepping on coral reefs and most importantly from the poisonous sea urchin which can be fatal just like what happened in Coron last year.

We know that avoiding to make these cuts may bring more pressure to your budget. Don’t worry because we are here to provide you financial assistance. Click here to know how you could settle you financial needs privately within 24 hours.

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