Are you hibernating even though it is summer?
Many clients we have seen in recent months have been hit with stagnating wages, coupled with ever-increasing costs of other necessities. These have really taken a toll on the middle-class average Americans.
The economy’s sluggish growth means that many large and small business employers alike do not have the money and confidence to raise wages. If you’re like most clients I see, I know health insurance premiums have NOT stopped increasing each year, in spite of your stagnant pay. And co-insurance expenses continue to creep up as well. Insurance companies and large health care providers may have gotten the memo that your pay increases have been nonexistent, but they can’t necessarily do anything about it.
So, something must give… what we see is many clients going without health insurance or not seeking needed medical care because they can’t afford the out of pocket expense. It is not hard to see why many people develop chronic health conditions because of lack of consistent preventative care. An illness or two here and there, and some of my clients will quickly find their budgets in the red. Groceries or healthcare? Utilities or car payment? Those are impossible choices.
So, in spite of the general feeling that the economy is improving, the truth is that it is still pretty rough out there for many of us. You’re not alone and a bankruptcy filing (be it a 7 or a 13) can help you put your finances right side up so you have the money to take care of your necessities. Stop hibernating, look for your options and start living!
