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What To Do If You Have a Large Medical Bill

Posted by James Hendrickson on Jun 17th, 2014 · 1 Comment

Now that the Affordable Care Act is in place, consumers are doing their best to keep health insurance as affordable as possible, often by taking larger deductibles. This means that there’s an even greater chance that you’ll get stuck having to pay large medical bills out of pocket, over and above the portion paid by insurance. And ironically, since health insurance premiums are now more expensive...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

What To Do If You Have a Large Medical Bill

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