Saving on the Rainy Pandemic Days Ahead

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From books publishers, “I want to reassure you that spending your hard earned money isn’t a wrong activity, however, there is something that should be taken more seriously than spending and that is saving for your future.

As you spend, you’ve also got to realize that you need to save for a rainy day. If all your material possessions were to be taken away from you, would you still be alright?

If you have been spending a lot and not saving, it may take a while for you to make the necessary adjustments with your finances, but if you are resilient and proactive, the steps you will find in this book will be of great help”.

We focus on spending in lieu of present financial hardships and pandemic predicaments due to COVID-19, The Cornovirus. With the hope of the expected legislative actions being awaited on Paid Sick leave and unemployment insurance for the workforce, as well as other financial reliefs for those living on paycheck to paycheck.  The bottom line is that if one is an hourly employee with no work, no PTO, even laid off’s, no emergency cash it will be a challenge ahead. Not to mentioned for the thousands of people  work on gigs and events which cannot even access any of these paid sick or vacation time now totally disenfranchise without work.

These are the times either if we have $5,000 to $5.00 on hand, we have to live by our means and the only way is to tip every cent and penny until we get back to normal and working again.

This book Table of Contents:

Introduction

Chapter One: The concept of saving and spending

Chapter Two: The importance of saving

Chapter Three: Top 50 tips on how to save money

Chapter Four: Sustaining the culture of saving

Conclusion:

If you have been spending a lot and not saving, it may take a while for you to make the necessary adjustments with your finances, but if you are resilient and proactive, the steps you will find in this book will be of great help.

If you don’t have a comfortable emergency fund, now could be a great time to start building yours up. You don’t need tens of thousands of dollars — but some cushion is certainly better than none. If you’re among the fortunate people whose income and work schedule haven’t been disrupted yet, consider saving more aggressively in your emergency account. And if you haven’t yet received or allocated your tax refund, bulking up your emergency fund could be an excellent way to use it.

If you don’t have an emergency fund, or are simply worried about your general level of cash flow during the outbreak, it’s smart to look for ways to cut expenses. Some of the usual suspects might not be practical — for example, I can’t in good conscience suggest that you get rid of your Netflix subscription when you might be stuck at home indefinitely.

A final thought: The most important thing to do now is take a deep breath and resist the urge to panic. Panic leads to irrational thinking, which leads to poor financial decisions. This will pass, let’s keep our hopes and continue to gather information.

 

What happens now with the Healthcare Act?

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An American Sickness a great recent bestseller written by Elisabeth Rosenthal who is physician verifying how dysfunctional the American Healthcare system is.  With recent changes from the Affordable Care Act to the new Healthcare Care, the question lies if the new law even made the American Healthcare to be more “Un-Affordable” paving the way for Americans to be more non-insured.

The easiest way of comparisons with the 2 laws referred to is the normal encounters on our daily living that touches on anything about our health. Such instances would be when going to the pharmacy if one has a regular prescription re-fill, was there a change in your copay, did you used to not pay anything or did your co-pay increase or decrease?

If you have to visit your providers like medical doctors, dentist or optometrist, is there a co-pay changed or are your providers still on the selected HMO or PPO network of your insurance? In such cases if your a the state funded Medicaid, are your providers willing to accept this type of insurance? Sometimes it’s not just a matter of not accepting medicaid, some providers don’t qualify or don’t want to go through the hassle of a long list of compliance and reporting requirements so they can participate in state funded insurance networks.

With the onset of the new Healthcare law, patients with pre-existing conditions will fall under a high risk pool? What it means and outcome we still don’t know at this point. However, what’s going to happen is that these individuals will again end up choosing not to any prescribed preventive care due to affordability or as seen the past racking up huge unpaid medicals bills with collection agencies running after them again. This book discusses on the best practice of negotiating with billing offices when they receive a huge medical bill. Thank god nowadays the credit reporting systems have now classifications and the credit bureaus may or may not allow collectors  inundating one’s personal credit file on unpaid medical bills. In spite of this in 2014 as quoted in the book, the Medical and Debt Responsibility Act requiring credit bureaus to delete reports of delinquent medical debt once settled or resolved never made it through the committee due to the credit agencies opposition. And as the book and we all know, Medical cost and billing is big huge business in the American Healthcare system.

It’s still to early to see the outcome of the new Healthcare law but each person must be vigilant on how it will affect each of us and to ensure were not eaten alive with the big business of the Healthcare system.

Alex Esguerra

ADLE International