1. Get a prescription discount card
If you don’t have health insurance, or if your insurance doesn’t cover prescriptions, you can get a prescription discount card. These cards are offered by pharmaceutical companies, and they can give you discounts of up to 80% on brand-name drugs.
2. Shop around for the best prices
Prices for prescription drugs vary widely from pharmacy to pharmacy. It’s worth shopping around to find the best price. You can use websites like GoodRx or Blink Health to compare prices at different pharmacies. The cost of medicines can vary widely from one pharmacy to another, so it is important to shop around before filling a prescription. You can also check online pharmacies, as they often offer lower prices than brick-and-mortar pharmacies.
3. Use generic drugs whenever possible
Generic drugs are just as effective as brand-name drugs, but they cost much less. So, if your doctor prescribes a brand-name drug, ask if there’s a generic version that you could take instead. Generic medicines can be just as effective as brand-name medicines, but they typically cost much less. Ask your doctor or pharmacist if there is a generic version of the medicine you need and whether it would be appropriate for you to use it.
4. Get free or low-cost medicine from patient assistance programs
Many pharmaceutical companies offer programs that provide free or low-cost medicine to people who can’t afford it. To find out if you qualify for one of these programs, contact the pharmaceutical company that makes the drug you need.
5. Ask your doctor for samples
If you can’t afford the medication your doctor has prescribed, ask if he or she has any samples of the drug that you could take until you can afford to buy it.
6. Get a Good Health Insurance Plan
The first step to saving money on medicine is to get a good health insurance plan. There are a variety of health insurance plans available, and it is important to choose one that covers the medicines you need at a price you can afford. If you are unsure of which health insurance plan to choose, you can consult with a healthcare professional or an insurance broker.
7. Look for Discounts
There are a number of ways to get discounts on medicine, such as using coupons or shopping at discount stores. You can also ask your doctor or pharmacist about patient assistance programs, which provide free or low-cost medicines to those who qualify.
8. Get a Good Health Insurance Plan
The first step to saving money on medicine is to get a good health insurance plan. There are a variety of health insurance plans available, so it’s important to shop around and find one that meets your needs. A good health insurance plan will cover the cost of most, if not all, of your medical expenses.
9. Use Discount Programs
Many pharmacies offer discount programs that can help you save money on your prescriptions. For example, CVS offers a program called ExtraCare that gives discounts on certain drugs, and Walgreens has a program called Prescription Savings Club that offers discounts on both brand-name and generic drugs. Be sure to ask your pharmacist about any discount programs they offer.
10. Know Your Rights
Finally, it’s important to know your rights when it comes to prescription drugs. Many people assume that they need to pay for their medicine out of pocket, but this is not always the case. Some health insurance plans cover the cost of prescription drugs, and there are also government programs that can help with the cost of medicine. Under the Affordable Care Act, most health insurance plans must cover at least some prescription drugs. And under the new “Right to Try” law, patients with life-threatening illnesses can access experimental treatments that have not yet been approved by the FDA.
Final thoughts
There are a number of ways that you can cut costs on prescription drugs, and it may take some creativity and effort to find the best solution for your needs. However, the savings can be significant, so it is worth investigating prescriptions medicines thoroughly.
If you find yourself with credit or debit card debt or other types of unsecured debt such as cell phone, installment/payday loans, contact Progressive Debt Relief for a free consultation 1.877.590.1847 to explore ways to save money on your debt.
*This content must be used for informational purposes only. Progressive Debt Relief does not provide legal, financial or tax advice and the above should not be construed as such.
Are you overwhelmed by debt? Tired of that nagging feeling every time the bills arrive in the mail? Does it seem like bankruptcy may be the only way out? Before you begin going down the road of bankruptcy, take a moment to consider if there are other options available to get yourself back on track. While bankruptcy is one path for dealing with overwhelming debt, there may be more viable and cost-effective solutions depending on your situation. In this blog post, we’ll explore different possibilities so you can make an informed decision about pursuing bankruptcy or looking into alternative strategies to manage your debt and pay off your creditors once and for all.
What is bankruptcy?
Bankruptcy is often thought of as the end of the road. It is a legal process that many individuals and businesses use to recover from overwhelming debt. Bankruptcy offers a way out by providing relief from creditors through restructuring and/or discharging any outstanding debts that can’t be paid in full. By setting up a repayment plan, individuals in bankruptcy can make regular payments that suit their financial capabilities, with the goal of eventually being released from their debt burden.
There are several different types: chapter 7 bankruptcy involves the liquidation of assets; chapter 13 involves a repayment plan which allows individuals to keep their property; and chapter 11, intended for businesses and organizations with large debts, sets up restructuring agreements between creditors and debtors alike.
While bankruptcy can discharge certain types of debts, such as credit card debt and medical bills, there are limits to what bankruptcy will cover. Some not covered include:
· Alimony and child support
· Student loans
· Most taxes
· Criminal restitution payments and DUI fines
Other debts include mortgage payoffs and car loan payments if the bankruptcy filer does not wish to surrender the asset, personal loans from family members or friends, and civil court judgments in some cases. These are just some of the debts that bankruptcy will not cover and that must be paid off in full. Bankruptcy can be a powerful tool for getting out from underneath multiple forms of crippling debt, however it’s important to understand which debts it can forgive – and which it cannot by seeking legal advice.
The negative consequences of filing for bankruptcy
The truth is, bankruptcy can be a scary, intimidating process and does not always offer immediate benefits. Although filing for bankruptcy may give you access to a more manageable debt situation and stop some harassing collection efforts, there are several potential negatives and consequences you should consider before taking the big step.
8 possibly negative consequences of filing for bankruptcy
1. You may lose some of your possessions.
When you file for bankruptcy, you may have to give up some of your possessions in order to pay off your debts. This may include items such as your car, your home, or other valuable belongings.
2. Your credit score may be impacted.
Filing for bankruptcy can negatively impact your credit score. This can make it difficult to get a loan in the future, or even to rent an apartment or home. Unfortunately, depending on the type of bankruptcy being filed and other contributing circumstances, such as any prior court action taken against an individual, it could remain on a credit report for up to 10 years. During this time, it will also make obtaining loans more difficult – not impossible – unless you can demonstrate that you’ve worked hard to responsibly pay off any outstanding debt or amicably agreed with creditors in filing for bankruptcy.
3. You may have to pay higher interest rates in the future.
Another consequence of filing for bankruptcy is that you may have to pay higher interest rates on loans in the future. This is because lenders will view you as a higher risk borrower.
4. The bankruptcy process can be lengthy and expensive.
In order to file for bankruptcy, you must first complete a credit counseling course. You will also need to pay a filing fee, which is typically around $300. Additionally, it is recommended to hire an attorney to help you through the process, which can cost several thousand dollars. Upon initial filing for bankruptcy, there is an Adjustment of Debts Fee for Chapter 13 and Chapter 7. You may also be required to take credit counseling as well as debtor education classes. While it can be costly, it ultimately depends on your circumstances.
5. Bankruptcy can be stressful and emotional.
The bankruptcy process can be stressful and emotional. It can be difficult to deal with creditors and debt collectors while you are trying to file for bankruptcy. Additionally, you may feel you have failed financially.
6. You might lose your car.
It depends on several factors such as ownership status (if you lease or own), type of bankruptcy being filed, the value of your vehicle.
7. It may impact future employment
It is an unfortunate reality that having a bankruptcy on record can make it more challenging to secure employment; however, it does not mean impossible. Employers understand that life circumstances can cause financial insecurity, so bringing up your past credit history in an honest, straightforward way might help to assuage any misconceptions your potential employer may have. Additionally, while there are certain positions which are highly dependent upon credit ratings (such as banking jobs), there are many employers who view bankruptcy as a brief obstacle and not something that defines who you are or what sort of employee you will be.
8. Information contained in bankruptcy is a matter of public record
Information can be accessed by anyone who knows how to look for it and where. There are sometimes ways to limit what information is made public, but that depends on the type of bankruptcy being filed.
Factors to consider before filing for bankruptcy.
It’s a common misconception that bankruptcy wipes out all of your debts and takes your financial burden completely off your back. In reality it isn’t quite so simple. Bankruptcy may discharge some of your debts, but not all. You can also still owe money on mortgages, rent arrears, or maintenance payments after filing for bankruptcy. So while a bankruptcy declaration might be the light at the end of the tunnel you’ve been looking for, it certainly isn’t a straight-forward way to forget about bills forever.
Is bankruptcy the only answer to mounting debt problems?
There are alternatives to bankruptcy that may better suit your individual circumstances. Some options can help manage debt without the need to file bankruptcy, such as negotiating with creditors or obtaining debt relief. You can connect with professionals who can help manage your money. Talking to a financial advisor can provide guidance on how to manage outstanding debts, handling overdue payments, and setting up an emergency fund for when times are tough.
Additionally, establishing a budget can help you plan and monitor your spending and keep close tabs on your expenses. Having a budget also allows you to save more effectively, and helps you prioritize where to allocate your money instead of spending carelessly. Online budgeting tools and apps can provide relief by tracking spending and allowing you to create a payment plan. Above all else, budgeting imposes discipline which could be the difference between financial success and bankruptcy.
Other options to explore include credit counseling, debt consolidation, and debt settlement.
Credit counseling
Working with a credit counselor to develop a plan to repay your debts can be highly advantageous. A professional credit counselor will work with you to develop a plan for repaying your debt. This can be beneficial as it can help you to better understand your financial situation and develop a plan that fits your unique needs. Additionally, credit counseling can help you to improve your credit score over time. While credit counseling can be beneficial, it is important to choose a reputable credit counseling agency. Otherwise, you may end up paying more for the service than you would if you negotiated with your creditors on your own.
Debt consolidation
Debt consolidation can be a powerful tool in simplifying your debt and reducing interest charges. Rather than juggling multiple accounts, you’ll make one monthly payment to cover all existing debts. This could help pay off your debts faster and improve your credit score by reducing the number of open accounts on file with your creditors. However, it’s important to carefully evaluate how consolidating will affect both short-term and long-term financial goals, as well as consider any potential risks before diving into this option – failure to abide by repayment terms or defaulting may result in incurring even more debt.
Debt settlement
This process involves negotiating with your creditors in order to pay off what is owed for less than its full amount. You can choose between handling this yourself, which can be extremely stressful and time consuming or seeking out expert help from a specialized company, such as Progressive Debt Relief, who will have a wealth of experience in negotiating settlements with creditors.
Debt settlement could prove very rewarding depending on how far one’s creditors are willing to go. Perhaps more importantly, debt settlement offers another avenue towards financial freedom from extensive debts.
Final thoughts
Making the decision to file for bankruptcy is a difficult one. There are many factors to consider, and it’s important to understand all your options before moving forward. While bankruptcy may be the best option for some, there are alternatives that might better suit your individual circumstances. Connecting with a professional can help provide guidance on what steps to take next. If you are concerned with unsecured debt, Progressive Debt Relief offers free consultations so you can explore all your options and make the best decision for your unique situation. Give us a call today 1.877.590.1847– we’re here to help.
*This content must be used for informational purposes only. Progressive Debt Relief does not provide legal, financial or tax advice and the above should not be construed as such.
Meal prepping can be daunting, and it’s easy to think that all the work won’t pay off or isn’t worth it. However mastering meal prep doesn’t have to mean hours in the kitchen; if you’re smart about it, you’ll find yourself saving money and eating healthier meals in no time. Meal prepping is a great way to take control of your nutrition goals while still having the convenience of ready-made meals — so why not give it a try? In this blog post, we’ll share some tips for how to make meal prepping simple and effective!
1. Set Aside Time Each Week To Meal Prep
One of the best ways to save money on food is to meal prep. Meal prepping involves cooking a large batch of food at once and then portioning it out into individual servings that can be eaten throughout the week. This can help you to save money on both groceries and eating out.
2. Decide What You Want to Eat
The first step to meal prepping is deciding what you want to eat. This may seem like a no-brainer, but it’s important to have a plan before you start cooking. Ask yourself what kinds of foods you enjoy eating and make a list of meals that you would like to prep. Once you have a list of meals, you can begin to plan your grocery list.
3. Choose Your Recipes
Once you know what you want to eat, it’s time to choose your recipes. When selecting recipes, it’s important to consider how long they will take to cook and whether or not you have all of the ingredients on hand. It’s also a good idea to choose recipes that can be easily reheated or eaten cold.
4. Prep Your Ingredients
Once you have your recipes chosen, it’s time to prep your ingredients. This means chopping vegetables, cooking meat, and measuring out spices. Prepping your ingredients ahead of time will save you a lot of time when it comes to actually cooking the meals.
5. Cook Your Meals
After your ingredients are prepped, it’s time to cook your meals. If possible, it’s best to cook all of the meals at once so that they are ready to eat for the week ahead. If you’re short on time, you can also cook some meals ahead of time and freeze them for later.
6. Store Your Meals
Once your meals are cooked, it’s important to store them properly so that they don’t go bad. Meals can be stored in airtight containers in the fridge or freezer for later consumption.
Investing in some good storage containers can also help you save money on the skyrocketing prices of food and groceries. Good storage containers will keep your food fresh for longer, which means that you won’t have to throw away as much food.
Discover the benefits of meal prepping – it’s the ultimate time and money saver and it can lead to a healthier lifestyle! You can start small by prepping just a few meals a week, and choosing recipes that are quick and easy to make. Make sure to prep your ingredients ahead of time and cook everything at once for a week’s worth of delicious and healthy food!
Another way to potentially save more money is to find out about the debt relief services Progressive Debt Relief offers. Set up a free consultation today and take the first step towards financial freedom!
