Prudent Ways To Reduce Debt Burden While Availing Financial Assistance In Health
You can avail financial assistance from different sources when you find it difficult to manage or pay your medical bills. However, no matter how easily accessible these loans are, it is also very easy to fall into the debt trap provided you do not know how to reduce the debt burden. If you are in debt, especially medical debt, there are several effective and healthier ways to deal with the debt stress.
Experts say that you simply need to focus on the things that are most important for you and know about those things that do not involve money but gives you a feeling of satisfaction and achievement. These can be very simple things such as going out for a walk in a park and other free things like that. These actions will help you to relax your mind and be aware on the situations when it races towards the worst case scenarios.
- This means, managing debt needs mindfulness and your focus on the present moment so that you can build up your future allowing you to avoid those catastrophic thoughts about your finances that may jeopardize the health of it as well as yours further.
- You will need to avoid anxiety because when you are anxious you will find that it is very easy to avoid the issues that are in your hand.
The best way you can manage your emotions that will in turn help you to manage your debts more actively and effectively is to take one step at a time and start small. You must open one bill at a time instead of speaking straightaway to your bank manager to justify your reasons for avoiding your debt. Sort out this bill first and then work on to the next one.
This may not solve everything at one shot but you will surely get the proud feeling that you have everything under control.
Some more effective ways
Medical debts or any other debts for that matter taken out from a bank or from any other online sources such as Liberty Lending can cause further deterioration in your health. Therefore, apart from dealing with your monthly bills you must also focus on some other useful and effective ways that will help you to reduce your debts with confidence. Find ways to get relief from worry and anxiety.
- You can reduce it with grief and anger as well. Reading stories about injustice, watching sad movies and even hitting a sandbag can prove to be very helpful with your effort.
- Reducing the energy of the digestive system is also another useful way to get rid of your worries. Avoid sweet foods, drinks, fruits, beef, and dairy products as much as possible but do not eliminate these completely.
- Coffee, broccoli, cabbage and other bitter foods may provide energy to your heart but it may also lead to your digestive system.
- You will be better off if you eat leafy green vegetables more as well as sour foods to nourish the liver and prevent energy going to your digestive system instead of going to your heart. Pungent foods and spices can draw energy away from your digestive system.
- Fish, tofu, seafood, other soy products, and summer vegetables can restore energy to your kidneys just as salty foods, if allowed.
If you listen to your body and try experimenting with these suggestions, you will find that it is easy to bear and even overcome the stress until your entire debt problem is solved.
Staying out of medical debt
If you want to reduce your medical debt you may not need to follow any specific process for the amount of medical debt you are carrying.
- First, you will need to know the probable cost of the treatment process that you need to take. This will ensure that you make arrangements for that and reduce your expenses for the time being. Make use of a few free tools such as Healthcare Bluebook to find the best prices for the best health care before you commit anything to the health care provider.
- Second, consider using a preferred pharmacy. If you choose a store that is a part of a network of pharmacies it is highly likely that you will be paying lower costs for specific medications. This is because the operation policy of these pharmacy shops has changed over time. Previously, they used to compete with one another based on the location of the store. But now, with so many shops available along with the online stores, they compete on quality of service and pricing. This will reduce your dispensing fees.
- Third, confirm the correctness of the medical bills before you pay them. Wait till the time all your bills for medical treatment, tests and procedures are in one place and in your hand. Apart from verifying the bills also make sure whether or not your insurance carrier has paid them already. If they have, find out the amount that is paid and that is left to be paid out of your pocket. You will be surprised to know that every year Americans pay about $58 billion for amount they did not owe or should not have paid!
- Fourth, when everything is confirmed, try to negotiate on your medical bills. In most of the times, looking at your health and financial condition the doctor or the hospital may reduce your bill.
- Fifth, create an emergency fund if you want to stay out of medical debt. Make sure that you never use any money from this fund as you will never know when a medical emergency may come. His will help you to repay the out of pocket medical expenses easily.
All these little yet effective efforts will in the end result in taking out a smaller medical loan, that too if you need it. You will find it easy to repay as the monthly bills will be lower. This way, you can not only stay out of any type of medical debt burden and stay healthy at the same time.