Insurance may not be the funnest thing to talk about, but when it comes to facing the unforeseen, it’s a super fun thing to have. As a millennial living in New York City, personal finances are often a struggle. Though I aspire to live the socialite life, I still often find myself living hand-to-mouth. For 76% of Americans living paycheck to paycheck, it’s easy to forget that you’re only one emergency away from financial disaster. An unplanned car repair, illness or trip to the emergency room could easily result in a financial disaster. According to a recent Aflac survey, 35% of millennials have set aside less than $500 for unexpected medical expenses. Unpaid or late payments could ultimately affect your credit score which could make it difficult to buy a car, rent an apartment or secure a loan.
Sadly, millennials have greater financial disadvantages than previous generations. With the struggles of student loans, the Great Recession and low wages, we may be setting ourselves up for additional debt by not making sound benefits choices during open enrollment. To avoid ending up in an unexpected financial disaster, the experts at Aflac suggest that you start thinking of your health insurance premiums as a monthly budget essential like rent, rather than a discretionary expense, like entertainment. Educate yourself about how your insurance deductible works. Choosing a plan with a low monthly premium and a high deductible may give you more money in your paycheck, but could also result in unaffordable payments if you need medical care beyond covered preventive services.
If your company offers a health savings account as part of a high deductible health plan, contribute as much as the plan allows so you’ll have money set aside to help meet your deductible and other payments. Consider adding voluntary insurance products for more financial protection. Accident and Critical Illness plans work hand-in-hand with major medical plans, providing benefits to help policyholders with health-related costs their primary insurance may not cover. Those policies can also be used to help with out-of-pocket costs and other expenses that continue to roll in even if you’re too ill or injured to work.
One last word of advice I’d add is to know exactly what your insurance covers before you go to the doctor. Obviously, this is the last question you’d ask during an emergency. But, even routine visits to the doctor can result in unexpected expenses. I’m still paying off a $500 bill from a routine mole screening that my insurance didn’t cover. Knowing what’s covered before routine visits can help you avoid surprise bills just as much as having the right insurance plan and health savings account.
I was selected for this opportunity as a member of Clever Girls Collective and the content and opinions expressed here are all my own.
What I love most about fall is breaking out my skinny jeans, boots and light sweaters. The comfortable chill in the air, gets me thinking about Halloween and apple cider. The changing leaves also play a huge role in my style choices during the fall months. In celebration of fall, here’s my shopping list of fab fall fashions:
3. Camel Detachable Fur Lined Hood Contrast Trims Cape: I’ve always wanted a cape and this one is to die for! Fall is the best time to wear capes as they can be a stylish alternative to a light jacket. With winter being so cold, they often get covered up. So take the opportunity to show them off during fall.
4. Sephora Favorites Draw The Line: I love black eyeliner, especially liquid. However, I don’t wear it much in the summer because the heat often melts it off. So in the fall, I kind of go crazy with the liner.
5. Vince Camuto ‘Karita’ Over the Knee Boots: There’s nothing sexier for fall than over the knee boots. Aside from being sexy, they keep you warm and go with anything. With all the walking I do around NYC, I wore out my old pair last year. I’m dying to get these.
Life is meant to be lived to its fullest, and that starts with being proud of who you are. There’s no shame in showing the world your confidence and style. No matter who you are or where you’re from, you don’t have to be a movie star or a supermodel to have style, and you don’t have to be a millionaire to be classy and admired.
Finding Your Personal Style
Being chic and classy begins with being yourself and having a clear understanding of what works for you. Once you know what looks work for you, start combining them with what’s in style. Fashion recommendations come to us constantly without us even searching for them. We’re bombarded so often, that most of us don’t even pay attention. However, it never hurts to keep your eyes open and make a note of what you like or what you’d like to avoid.
The Cherry on Top
Once you have a clear feel for the kind of style you have and how you’d like it to evolve, every day really becomes a fashion show. To go along with the classy themes that I like to embody, I’d love to someday sport a Rolex. Though it’s not cheap, it’s the quintessential accessory for any man or woman who wants to show (not tell) that he or she is the embodiment of class and ambition. The Rolex, as you all know, is much more than just a watch or a gorgeous piece of jewelry, it’s a statement of passion and drive. If you’re interested in a myriad styles of stunning timepieces, go to either The Watch Buyers Group or ALTIN place and enjoy bringing your daily fashion show to the next level.
One of the biggest things I’ve always admired about socialites is their ability to travel. From summers in Ibiza to winters in Aspen, socialites love to see and experience the world in style. When you’re spending half your income on New York City rent, the prospect of jet-setting around the world quickly goes out the window. This year, my boyfriend and I decided to really buckle down and save money for a trip to Europe. Should all go well, we’ll fly across the Atlantic in summer 2015.
Saving money has never been my forte. But, now that I’m saving for something exciting, I might be more inclined to put away a few dollars for a rainy day (in London that is.) Wish me luck!