HealthyLife Articles

Tag: savings

Save On Prescriptions

FINANCIAL HEALTH

Whether you have insurance or not, the cost of filling prescriptions can be high. Here are some ways to save big on the medicine you need.

Go generic

Ask your doctor if there is a cheaper generic option they can prescribe.

Talk to your insurance

Some insurance companies have options to make your medicine cheaper, such as direct buying programs.

Get a 90-day supply

Often it’s cheaper to get more at once than to refill a prescription multiple times.

Apply for assistance

Check with state and local governments to see if you qualify for financial assistance with prescriptions.

Compare prices

Call around to different pharmacies to find which one is the cheapest for your specific medicines.

Ask for a higher dose

Ask your doctor if they can prescribe a higher dose and let you cut the pills. Not all pills can be cut, but if it’s possible, it can save you money.

© American Institute for Preventive Medicine

January 23, 2026
4 Financial Health Steps

Financial Health

1. Track your monthly expenses.

– List fixed costs. These include mortgage or rent, car payment, phones and child care.

– List costs that vary, such as clothing, eating out, personal care, and entertainment.

2. Make and follow a plan to pay down debt. Do this on your own or with professional help.

3. Plan a budget. From your net income, aim for:

– 50% for basics (house, food, transportation)

– 30% for lifestyle choices (hobbies, phone and cable, personal care, pets, eating out)

– 20% for short-term savings and retirement

4. Get tools to help you manage your financial health frommymoney.gov.

Take Action: Keep Your Numbers Safe

1. Protect your bank account, credit card, driver’s license, social security, and other personal ID numbers.

2. Use secure websites, passwords, and PIN numbers. Change passwords often, using upper and lower case numbers and symbols. Consider using multi-factor authentication (MFA). This is an added layer of security to your information where a system requires you to present a combination of two or more credentials to verify your identity.

© American Institute for Preventive Medicine

January 23, 2026
Be Wise, Stretch Your Health Care Dollars

Medical Care

Use discounts and coupons for services and supplies that you need.* Examples are:

* Membership discounts on prescriptions, over-the-counter (OTC) medicines, eyeglasses, and contact lenses. You can get these if you are a member of wholesale clubs, such as Costco, Sam’s Club, AAA, and AARP.

* Advertised specials, such as buy-one-get-one free prescription eyeglasses

* Coupons from local drug stores for OTC medications and supplies, such as a home blood pressure monitor

* Get treatment for a condition before it becomes more serious and more expensive to manage.

* Ask your doctor if you could benefit from taking part in a clinical trial for a condition you have. Clinical trials provide free expert medical care for persons who qualify. You can also get information for them fromclinicaltrials.gov.

* Follow your doctor’s advice for which products to buy.

© American Institute for Preventive Medicine

January 23, 2026
Build A Budget

Financial Health

Make a plan to live within your means.

No matter what your income, having a budget helps you plan and manage your money. It also helps you get a grip on your spending. You can use a budget-making tool, such as a free one from the websitewww.mint.com. You can write one on your own with a pencil and paper.

Track your expenses:

First, list your fixed monthly must-haves − mortgage or rent, phone, cable, Internet access, car payment, or public transit costs. Include other regular set monthly expenses, such as loan payments, tuition and/or student loans, insurance premiums, church donations, and gym and other monthly membership fees. Next, identify your variable expenses. These include what you spend weekly, monthly, two or four times a year, and yearly for:

* Groceries

* Restaurant meals, snacks, coffee and other drinks

* Gas and upkeep for your car

* Electric, gas, and water bills

* Property taxes

* Credit card payments

* Entertainment – Movies, DVDs, concerts, golf, toys, and social events

* Clothes and shoes

* Haircuts, cosmetics, and toiletries

* Gifts for birthdays, holidays, weddings, etc.

* Household items and home improvements

* Vacation

You can get amounts for many of these from monthly statements for your credit cards, debit cards, and checking and saving accounts. Otherwise, get and keep receipts for everything you pay for. You may be surprised by how much you spend on coffee drinks, food, liquor, and tips when eating out.

Put some of your income into a savings account. Do this yourself from your take-home pay or have a pre-set amount automatically deposited into a savings account.

Start by listing your total monthly income:

Include your take-home pay, alimony, child support, unemployment, social security, and public aid. If you work on commission or freelance, your income can vary from month to month. Just estimate a monthly amount.

Action Step

If you are spending more than you earn, cut back on variable expenses. If you still have money left over after paying your bills and putting money into savings, carry over the extra for future expenses.

© American Institute for Preventive Medicine

January 23, 2026
Resolve To Get Ready For Retirement

Financial Health

It’s never too early or too late.

Whether you are in your 30s, 40s, 50s, or even your 60s, plan for your retirement. Research shows that people who think about and plan for retirement save more than those who don’t.

Add up all sources of monthly income.

* Social Security. Find out how much you will get, monthly, from the Social Security. This depends on your work history and if you choose to start getting benefits at age 62 or your full retirement age (65, 66, or 67) or wait until age 70. A yearly statement mailed to you gives this information. Or, find out from Social Security benefit calculators atwww.socialsecurity.gov/retire2/index.htmandwww.socialsecurity.gov/planners/index.htm#a0=1. Do the same for a partner who will also receive Social Security benefits. In general, the amount you receive for Social Security retirement accounts for about 40 percent of your pre-retirement earnings. $____

* Private pensions from all employers $____

* Personal savings. This includes money you have in the bank and earnings on 401(k)s, 403(b)s, traditional and Roth IRAs, and other investments: $____

* Cash value life insurance. These are whole life or variable life policies. $____

* Part-time income you and/or your partner expect to make. $____

Total monthly sources of income: $____

You do the math:

Total monthly income needed: $______

Subtract total monthly sources of income: – $______

How much you’ll need to make up for each retirement month: = $______

Plan, now, ways to earn and/or save more for retirement.

Figure out how much you’ll need.

According to the Employee Benefit Research Institute, 56 percent of workers have no idea how much they need to save for retirement. On average, people need at least 70 percent of their yearly pre-retirement income. This can vary, depending on your age and needs. You will need more if you need to pay for your medical care. To estimate how much you might need, use a tool atwww.choosetosave.org/ballpark. Other calculators to help you plan can be found atwww.choosetosave.org/calculators. Include estimates for health care and other costs, such as a new car and home repairs. {Note: It will be easier to get a car loan if you buy the car while you are still employed.}

Total monthly income needed: $____

Action Step

Make an appointment with a financial planner at work or on your own to discuss retirement saving options that best meet your needs.

© American Institute for Preventive Medicine

January 23, 2026
Save Money On Medications

Medication

* Find out if medications are no longer needed and/or if you could reduce your need of any medication through lifestyle changes.

* Take a list of the medications that your health plan prefers (formulary) to office visits.

* Ask if one medication can replace the work of two or three.

* Ask for free samples and/or a prescription for a few days’ supply to find out if the medicine works for you before you pay for a full prescription.

* Ask your doctor or pharmacist if lower-cost options exist, either in a generic form (co-pays for generics cost less, too), a less expensive brand-name drug, or an over-the-counter (OTC) drug.

* Ask your doctor if it would save money to prescribe pills that could be cut in half.

* Use a mail order pharmacy for prescribed medicines you take on a regular basis. You can usually get a 3-month supply for the same cost that you would pay for a 30 day supply at a drug store.

* Shop around for the lowest costs. Compare costs from your pharmacy, large chain pharmacies, and grocery and retail stores that have pharmacies. Use Web sites that compare prices for prescription medicines.

© American Institute for Preventive Medicine

January 23, 2026
For The Health Of Your Wealth

FINANCIAL HEALTH

Do you want to take control of your financial life? It’s up to you to understand your own money, says investment advisor Paul Taylor, a member of the National Ethics Bureau. Taylor offers the following suggestions:

For your cash flow, keep in mind the four A’s: Accounting, Analysis, Allocation, and Adjustment. The four A’s describe a systematic and disciplined approach to your daily, weekly, monthly, and yearly spending habits.

* Accounting involves gathering all your relevant financial information-income, recurring bills, and other expenditures-creating a central list of each item, and pulling it together in a place where it’s easy to find.

* Analysis is reviewing the information to determine whether you have a shortfall or surplus, and finding places to reduce expenses. Saving $100 a month on dining out, for instance, would allow you to apply $100 to your mortgage loan principal, saving you a substantial amount in interest payments.

* Allocation involves determining your financial commitments and priorities, needs versus wants, and distributing your income accordingly.

* Adjustment involves periodic reviews of your financial information and shifting assets to meet changing needs.

© American Institute for Preventive Medicine

January 23, 2026
How To Set Up An Emergency Fund

FINANCIAL HEALTH

An emergency fund is a great way to save yourself from financial disaster. It gives you peace of mind when unexpected expenses come up. And, it may help keep you out of debt when you need extra money for an emergency. People who don’t have emergency funds may have to turn to high-interest loans or more credit card debt.

It can be difficult to set money aside when it’s being used for other day-to-day things. But, it is possible to do with a little discipline and planning. Here’s how:

*Make it automatic.Have some money automatically put in a separate account with each paycheck. Even if the amount is small, it can add up over time. An automatic transfer is more convenient than doing it yourself. You may find that after a while, you don’t miss that extra money. You learn to get by without it.

*Make it a priority.Pay your emergency fund first, before you use your paycheck for non-necessary items. Make a budget that doesn’t include your emergency money. This will ensure your bills and other necessities get paid without skipping your emergency fund payment.

*Use a bank or credit union savings account.These are easier to access in an emergency than savings bonds, mutual funds or certificates of deposit (CDs). But, don’t put it in your regular checking account, where you may be tempted to use it for a non-emergency.

*Keep the account totally separate.Make sure that account is for emergencies only. Make it a savings account instead of checking. Be sure the account doesn’t include fees or penalties.

*“Do I need this?”Cover your credit card with a savings message to reduce non-essential spending.

Creative ways to save

Think of little ways you can change your daily routine to save money. You’ll be surprised how much you can save!

Put away $.50 a day in loose change.

Monthly savings: $15

Yearly savings: $180

Skip the coffee out and bring your own from home.

Monthly savings: $80

Yearly savings: $960

Bring your own lunch 3 days a week instead of eating out.

Monthly savings: $96

Yearly savings: $1,152

Eat dinner at home 2 more times per month.

Monthly savings: $40-80

Yearly savings: $480-960

Source: Consumer Federation of America

© American Institute for Preventive Medicine

January 23, 2026
Retirement: How Are You Going To Do That?

FINANCIAL HEALTH

A secure and worry-free retirement is a cherished dream for millions of us. What will it take for you to achieve that dream? The experts say –

Save more than you think.Most people have not tried to estimate how much money they will need for retirement. And those who have, usually underestimate the amount they need.

Know when you will retire.Many working Americans will retire before they expect to, and before they’re ready.

Plan to live a long life and spend accordingly.Some retirees will live well beyond their life expectancy, with a great risk of outliving their savings.

Face facts about long-term care.Many people underestimate their chances of needing long-term care. Explore lower-cost plans now.

Understand your options.Should you take a pension in a lump sum or as a lifetime annuity? Talk with a financial planner (and your doctor) to decide the best option for you.

Understand your investments.Due to the growth of workplace retirement savings plans, employees are now managing investments for retirement. Need help? Get it from a trusted financial adviser.

Seek sound advice.Many retirees and pre-retirees do not seek the help of a “qualified professional.” Yet they indicate a strong desire to work with one.

Know where your retirement income is coming from.You may be disappointed in retirement if you try to live on the income that’s available.

Deal with inflation.Inflation is a fact of life. After retirement, you won’t be getting pay increases.

Provide for a surviving spouse.Many married couples fail to plan for the eventual death of one spouse before the other. This can have serious consequences, especially when the survivor is the wife.

Source: Report from LIMRA International, the Society of Actuaries and Matthew Greenwald & Associates, with research sponsored by the Society of Actuaries Committee on Post-Retirement Needs and Risks

© American Institute for Preventive Medicine

January 23, 2026
Save Money On Health Expenses

FINANCIAL HEALTH

Unexpected health care costs can be hard on any budget. To help manage your own health care costs:

*Get preventive care.Well visits and checkups often cost a lot less than treating a disease or illness. Talk to your doctor and dentist about how often you should be seen, and stick to this schedule.

*Use generic medicines.Name brand medicines can cost hundreds of dollars more than generic ones. Ask your doctor if a generic medicine is available for your condition. Tell your doctor if you are having trouble paying for medications. Drug makers sometimes offer coupons or savings cards for people who need them.

*Shop around for your prescriptions.Medicine costs can vary widely among pharmacies. Call pharmacies and ask for the cost of your prescription medicine. Some websites also have prescription medicine costs available for pharmacies in your area. You may also wish to look into mail-order pharmacies.

*Check your medical bills.Make sure there are no mistakes on your doctor, hospital or prescription bills. And, be sure your insurance covered services it is supposed to cover. If you have questions, or think you may be over-billed, call the number listed on your bill.

Source: Consumer Federation of America

Watch those late fees!

A few dollars here, 20 dollars there… late fees can add up. Whether it’s your credit card bill or a service you received, make an effort to pay your bill on time. Avoid late fees by getting bills set up on automatic payment plans. Or, have a special slot on the wall to place bills that haven’t been paid. Then, they won’t get buried under junk mail or other papers on your desk.

© American Institute for Preventive Medicine

January 23, 2026