Sara, a 50-year-old working professional, was in a car accident. She suffered some serious injuries and submitted a claim for permanent partial disability benefits with her insurance company. Her personal physician had already provided detailed documentation. But her insurance company requested her to attend an examination with another doctor, provided by them. This doctor, they said, is an "insurance doctor." Now, this was something new to Sara. But is it a new concept? Let us find out. Who Is an Insurance Doctor? Insurance doctors play a critical role in the insurance sector, which is quite underrated and misunderstood. Most of us assume that they actually replace the role of our treating physicians, but that is not the case. Our physicians treat us in case of any mishap, but they do not assess or evaluate our level of injury or disability. But then, who actually does it? This work is done by Insurance doctors, which, in turn, impacts or affects our insurance benefits. Th...
Importance of savings!!
By now, you have reached that part of your life when you have started to understand the importance of saving a part of your income and investing it into profitable and reliable sources to ensure a stable future. However, money-saving tips do not only mean long-term future savings involving heavy lump-sum amounts. Quite a substantial amount can also be saved if you take care of your daily expenses and plan accordingly.
Unique money saving tips:
Here are some unique ways to do so.
- Stick to your budget - Do not get carried away by seasonal discounts and free items if you do not need them. Quite often, we end up buying things that just catch our eye, but later, we realize how useless the purchase was. So, before you click on the "BUY" button, think twice. Therefore, maintain your budget plans.
- Weekend plans - Planning to have a weekend party with your family and friends at home? Planning for a picnic? Why not cook something special for everyone and let people know your culinary skills? This money-saving technique will save you a lot from ordering expensive dishes that your guests may have already eaten innumerable times. Not a great cook? No worries, you may order, but you can also save money by not indulging in decorating your space with expensive items to impress your guests. Trust me, your guests will be most impressed if your house is neat, clean, and well-organized.
- Go only for useful subscriptions - Here, let me share my own experiences. Recently, I checked my mobile phone and found six applications that I had subscribed to for daily updates or better experiences but never used. I checked my bank account and noticed that all are connected to auto-debit arrangements, in which the subscription amount is automatically deducted from my account, even though I am not even using them. They all added up to quite a good amount on a monthly basis. Please take this money-saving advice and do not make this mistake. Subscribe to apps only if you can use them.
- Clear debts on time - Monthly bills are an integral part of our lives. Credit card bills, electricity bills, and maintenance bills are some of them, which typically add a penalty fee if not cleared on time. Thus, ensure to pay them within the due date to avoid paying a penalty. This will save a lot of your funds from unnecessarily flowing out of your account.
- Help others after helping yourself - You may be a philanthropist who is ready to help others when they need anything, even finance, but first, ensure that you have a roof over your head. This means ensuring that you are able to provide for yourself first, then move ahead to serve others. This will increase your credibility and also make you mentally strong and satisfied. Therefore, keeping this thought in mind will automatically motivate you to put a check on useless expenditures and save money.
- Investment and insurance - Let me stress this point. Both are equally important. The investment will multiply your money and create a portfolio that will make you and your family financially stable when you may not have the capacity to earn a living. Insurance is a form of security that shields against various types of unforeseen contingencies in life. Both are, in fact, saving money for your future and arranging for a stress-free life.
- Showing off is momentary(nobody cares) - This is again a fact. Spending money on expensive items just to show people your status and high standard of living is not at all a good idea. People will be attracted to you for some time and then forget all about it. Thus, spend on things that will make your life easy after saving a greater part of your income.
Conclusion:
The above points are all based on my own life experiences, and I am sure these money-saving tips will help you equally. Do you have any more points to add? Feel free to comment.
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