How to save money on your healthcare and transport this year
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We don’t believe you should spend less money on life’s enjoyments. In fact, we implore you to live your best life.
However, we can cut down on those unavoidable monthly spends, without noticing a difference. So, here’s a few tips on decreasing transport and healthcare prices.
Transport
In Russia the average adult spent approximately 57% of their wages on food and non-edible items in 2017 which included health care items and transport. According to TotallyMoney.com spending on transport takes up the largest percentage of a household’s weekly expenditure in the UK. Statistics from USA Today reveal that in 2016, the average American spent $9,049 on travel & transport which includes cost of vehicles, petrol, finance charges, maintenance, insurance and public transportation expenses. We spend a lot on transport, guys.
Travel and transport costs are a severely overlooked money burner for most Millennials, the extra money saved could be used for further investments or spent purely for your enjoyment. Here are some top tips on saving money on transport:
Plan your journeys and set “cab days”
With the rise of cab and taxi apps it’s very easy and tempting to catch a cab ride for simple journeys. The convenience is hard to resist. Online polls reveal that most millennials often use cabs when “running late”. Simple solution? Plan your travel ahead of time and enjoy using a cab when you actually need it…
Get your refunds on delayed and cancelled trains
For most countries in Europe, you can claim money back on public transport services that was late or cancelled. Make a habit to keep all of your train or bus tickets. In the event of a cancelled bus or train, visit the website responsible for the service and search for a “Delay Repay” or a “Delay Compensation”. For most commuters you are legally entitled to up to 50% compensation.
Planning a holiday abroad?
Fly out mid-week; flights that are both long-haul and short-haul during the week are on average a lot cheaper than weekend flights.
Healthcare
Don’t give in to “branded” over-the-counter medications
We’re a nation who are suckers for brands and labels. The pharmaceutical industry hasn’t escaped this. What if we told you, you can get the exact, everyday, over-the-counter medications, that do the same thing, for less money?
Let’s take Hayfever tablets for example; more than 50 million people in the US alone have an allergy to pollen. There are hundreds of over-the-counter allergy relief tablets to choose from. However, some just so happen to be half the price. Why? You’re simply paying for the brand.
Branded allergy tablets are guaranteed to be more expensive than getting a generic equivalent. There’s no difference, the packet might just look more colourful. The key is the active ingredient; if the active ingredient is the same, then you’re buying the same product. Discover what the ‘active’ ingredient of your usual remedy is, do your own research and simply buy the cheapest with the same ingredient.
Stock up what you need for each season
If you have a medication you take on a regular basis, it’s worth seeing if they offer 90-day supplies. You’ll ironically save money on transport to the pharmacy each month if so. Many pharmacy’s offer a cheaper fee for a three-month supply of medication than you would for a single month’s supply.
Check your employer “perks” and benefits
Depending on your career background, you may be entitled to employer benefits, whether they are free health screenings or vaccinations. Such tests can catch health problems early, which is always best to spot in order to treat with good time.
Now that you have some tips on how to save money on transport, let us know how you plan to invest your extra savings.
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