Your immune system is doing its best to keep you healthy throughout another tough cold and flu season. But between the holiday’s stress and the extra socializing that exposes you to more germs, you get sick.
After tapping and swiping your credit card in preparation for the holidays, a sudden illness can be hard on your budget. You may not be ready for the cost of unexpected doctor’s visits, prescriptions, or even over-the-counter medication.
Emergency Option: Small Personal Loans
If you arrive at the emergency clinic waiting room without knowing how you’ll pay for your visit, don’t panic. Take advantage of the long holiday wait times by researching online for a small personal loan.
Some people aren’t sure about when to consider applying for an online personal loan — before, during, or after the emergency. Online loans come with quick and easy applications that suit last-minute emergencies, so you can do it any time convenient for you.
That said, it may be in your best interest to wait until you get your bill before you apply. You avoid taking out more than you need to cover your unexpected medical expenses this.
Don’t worry that this will slow down how quickly you can get the cash you need. Many online lenders provide direct deposit loans, so you can receive your funds without delay once you’re approved.
Talk with Your Healthcare Provider
You may be able to reduce what you borrow by having an honest conversation with your healthcare provider. Many clinics, hospitals, and pharmacies understand how tough the holidays can be, so they might offer some sort of payment plan.
These plans usually include deferment, which pushes out your due date, so you have more time to come up with the money. They may also provide installment loan plans that let you pay off your bill in several payments spread out over time.
Build Better Safety Nets for the Holidays and Beyond
Getting sick during the holidays is stressful enough on its own. But when money’s tight, your illness can pile on your worries.
One of the quickest ways to relieve that stress is by having adequate safety nets set up. In addition to a line of credit at the ready, you should also have an emergency fund and health insurance.
Once your emergency is over, take the time to shop around for insurance. Even a basic policy can help you afford medical expenses. Sit down with your budget to see how you can afford monthly insurance premiums.
Of course, most insurance policies require you to pay deductibles, so you’ll also want to think about savings, too. You should set aside some funds towards unexpected medical expenses every month. It doesn’t have to be a huge contribution — even $20 a month will grow to $240 in a year. That could be enough to help you handle next year’s sinus infection without worrying about your finances.
Budgeting for the unexpected can be challenging, but all your hard work will pay off in the future.
Photo credit:master1305 via Freepik.
