Americans have not been very healthy during the pandemic. This is likely because they have been eating unhealthy foods and not getting enough exercise. This has resulted in many people becoming overweight or obese. Additionally, Americans have been more susceptible to getting sick because of their poor health habits. All of this has contributed to the high number of fatalities caused by the pandemic.
Generally, health is a severe concern for everybody. However, the costs that come alongside it can also be problematic.
How Medical Bills Can Lead You to Bankruptcy
One of the leading causes of bankruptcy is medical bills. In 2019, it was estimated that Americans had a collective medical debt of over $195 million. In addition, many have a medical debt of above $250, while nearly half of these people have a debt of over $2,000.
Several things can cause these medical debts. For example, an unexpected hospital visit or an expensive procedure can lead to a hefty bill. If you don’t have health insurance, these bills can be even more challenging to pay off.
Additionally, many Americans are struggling to pay for their prescription drugs. In 2018, experts estimated that nearly 30% of Americans couldn’t afford their prescriptions. The high cost of drugs is one reason so many people struggle to pay off their medical debt.
Additionally, people who are sick are more likely to miss work. It can lead them to fall behind on their bills. It can also make it difficult to afford the medical care they need.
Healthiness, a New Solution to Bankruptcy
Maintaining a healthy lifestyle can help you avoid getting sick and incur medical bills. Additionally, staying fit can help you keep your job and avoid missing work. This is important because missed work can lead to lost wages, making it difficult to pay your bills.
So, how can you stay healthy and avoid bankruptcy? There are several things you can do to improve your health and wellbeing.
First, you should eat a balanced diet. This means eating plenty of fruits and vegetables, lean protein, and whole grains. Avoiding processed foods and sugary drinks will also help you maintain a healthy weight.
You should also get regular exercise. This doesn’t mean you have to spend hours at the gym. Just 30 minutes of moderate exercise each day can improve your health.
Finally, you should see your doctor for regular check-ups. This will help you catch any health concerns early and get the needed treatment.
By following these tips, you can improve your health and avoid getting bankrupt. However, staying healthy can also lead you to riches too. Let’s discuss how you can exactly do that.
Invest Your Savings Into a Home
So let’s say that you’ve started to live a much healthier life. You should start saving at least $10,000 annually because of this, and guess what? That’s the average payment for home loans in the United States. You can use the money you’ve saved from avoiding medical bills to invest in a home. It’s a great way to build equity and eventually own your home outright. Additionally, you can get tax breaks for owning your home, saving you even more money.
Invest in Index Funds
Are you not yet ready to settle in? That’s understandable. You may want to invest your money instead. A great way to do this is by investing in index funds.
An index fund is a type of mutual fund that tracks a specific market index, such as the Dow Jones Industrial Average or the S&P 500. These funds offer diversification, which means you’re less likely to lose money if one market sector crashes. Additionally, index funds typically have low fees, which means you can keep more of your money.
Investing in index funds allows you to grow your wealth over time and avoid going bankrupt.
Start Funding Medical Research
If you want to give back to the world, you can save the money you got from healthy living and start funding medical research. This is a great way to help others while also ensuring that you don’t get sick in the future.
Medical research is essential because it leads to new treatments and cures for diseases. By funding medical research, you can help save lives and make the world a better place.
By staying healthy, you can avoid getting bankrupt. You can avoid incurring medical costs, expensive medicines, and missing work. Instead, you can save money, invest in a home, or fund medical research. So what are you waiting for? Start living a healthier life today!