8 Budget Cuts That Could Hurt You In The Long Run

In this episode, Chelsea illustrates the dangers of cutting certain budget line items for the sake of frugality, such as health insurance, renter’s insurance, or your regular dental visits.

This video is sponsored by UnitedHealthcare. Learn about your healthcare coverage and how to make the most of it here: http://bit.ly/2YA27PF

Cost of renters insurance: https://www.policygenius.com/renters-insurance/renters-insurance-statistics/

Average claim: https://www.trustedchoice.com/renters-insurance/coverage-claims/#:~:text=Claims%20Statistics&text=The%20average%20claim%20for%20bodily,theft%20and%20burglary%20was%20%243%2C057

Homeowners insurance: https://www.valuepenguin.com/home-insurance-statistics#:~:text=Approximately%2085%25%20of%20homeowners%20have,which%20coverages%20are%20purchased%20individually

CDC statistic: https://www.cdc.gov/mmwr/volumes/69/wr/mm6932a1.htm

Cost of ignoring car maintenance: https://www.forbes.com/sites/laurenfix/2018/04/04/car-maintenance-should-not-be-ignored/?sh=3b69c2e24194
https://blog.protectmycar.com/ignoring-your-car-maintenance-reminders-could-cost-more-than-you-think#:~:text=If%20left%20unattended%2C%20the%20%E2%80%9Cworst,to%20the%20Car%20Care%20Council

Oil change prices: https://www.nerdwallet.com/article/loans/auto-loans/oil-change-prices

Fast fashion statistics: https://goodonyou.eco/fast-fashion-facts/

Freelancer estimated taxes: https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes
https://www.thebalance.com/how-much-do-i-budget-for-taxes-as-a-freelancer-453676

Retirement investment calculator: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator

Average American cc debt: https://www.valuepenguin.com/average-credit-card-debt#:~:text=The%20mean%20credit%20card%20debt,by%20the%20U.S.%20Federal%20Reserve.

Repayment calculator: https://www.creditkarma.com/calculators/debtrepayment

Dermatology coverage: https://smartfinancial.com/does-health-insurance-cover-dermatologist

Dermatologist expertise: https://www.everydayhealth.com/skin-and-beauty/should-you-see-a-dermatologist.aspx

Watch more of The Financial Diet hosted by Chelsea Fagan here: https://www.youtube.com/playlist?list=PLD30V46E07RR99cC0gCjKUbt-BKoDUcnc

The Financial Diet site: http://www.thefinancialdiet.com

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