The Financial Diet

8 Budget Cuts That Could Hurt You In The Long Run (2021x7)

Air date: Feb 01, 2021

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.co