How to Budget for Your Medical Aid Planning
With increasing high medical costs and expenses, it has become essential to budget for a Medical Aid Scheme that will assist you if crises should arise. Young people often think that they are healthy and don’t require the cover. Emergency cover at least should be budgeted for, and this can be found in the lower tier scheme options. However these only offer very basic coverage. In this article, we will show you how budget planning for medical aid works.
Tips for budget planning for medical aid
Real accounting:
Make sure that you keep an accurate real account of your spending. Many people only have a vague idea. For a month it is advisable to keep a daily record of what you spend. This is the only way that a person can tell whether there are opportunities to save even small amounts of money. This is a crucial step to do budget planning for medical aid.
Prioritise Saving Amounts
By examining the record of expenditure, it is possible to realise how much money can be saved, and put toward taking out an option with a Medical Aid Scheme.
Make the Savings
Look closely at your budget and make a concerted effort to save by:
- Taking meals to work: no fast foods
- Buying Generic items at supermarkets
- Bake at home instead of buying
- Use coupons to reduce expenses
- Entertain at home rather than eating out.
- There are many spends out there which when added up can make an impressive amount.
Talk to family and friends
Not only for their saving tips but discuss which medical schemes that may be with and actually how much it does cost every month. Medical aid is a lot more affordable than people realise.
Talk to a consultant at affordable medical aid and find out which options could be affordable for you. Now you have a goal to work towards to!
Buy the Cover
After consultation and advice, buy only the cover that you need and can afford. Don’t forget it is possible annually to upgrade cover if need be.
Perks/ Rewards offered by Schemes
Many medical aids offer perks and special offers i.e. discount on joining a gym, discount on air travel, holidays, movies, etc.better suited. These can be huge saving if you use them. If you don’t then it would be a better better-suited plan which is within your budget, even though it doesn’t offer any extras. It is more important to have the best cover you can get for your available funds.
Next step: complete and submit the form on this page to get a complimentary medical aid quote
All info was correct at time of publishing