The past one-and-half months have been traumatic as my mother’s health has steadily deteriorated into a critical condition. We’ve given her the best medical care possible — probably that’s what has kept her going this far. I couldn’t have afforded this medical care if it were not for three things:
- Clearing my debts and keeping out of debt,
- Building a substantial emergency fund, and
- Having independent health insurance.
Just a couple of years ago, I had a lot of debt to be repaid, no emergency fund, and no independent health insurance for my mother. I’m not sure what I’d have done — without going deeper into debt — if the present emergency had happened back then. In fact, I don’t even want to think about it. All the personal finance reading and research that I have done and the financial plans that I have executed over the past couple of years have proved their worth — many times over — today. Just imagine if one has to bear both psychological and financial traumas in such a situation.
If you haven’t yet got your financial house in order, there’s no better time to start than today. Believe me. It’s never too late to be prepared. I’d be glad to share my experiences and help.
Further reading:
- Why You Should Opt For Independent Health Insurance Even If Your Employer Currently Provides One?
- Why I Chose Star Health and Allied Insurance for My Independent Health Insurance Policy?
- How Would You Structure Your Emergency Fund?
- Real-life Lessons: The Value of an Emergency Fund
- Tip Tuesdays: Use Your Credit Card for Emergencies Only After You Have First Created a Real Emergency Fund with Real Cash in a Savings Account
{ 9 comments… read them below or add one }
hi,
I wish she will get well soon….
I would like to know the ways u have done and u know for financially stability in unfortunate situations.
Thanks
Hi.
May god be with you @ this important time, I hope your mom gets well soon.
Hi Vinaya,
Wishing your mother a fast recovery and
regain of good health.
Let ShirdiSai be at your side.
Regards,
Girish
Vinaya, how is your mother now? Wishing her to have complete recovery. Prayers and love from me!
Hi Vinaya,
I am a regular reader of your blog. The kind of information you have put in this blog and the clarity with which you share your thoughts/ideas and experiences is truly worth emulating. Keep it up.
I wish her speedy recovery and return back to her normal health by the grace of almighty. God Bless You.
Warm Regards,
Pradeep Iyer
Dear Vinaya-
I will pray for your mother’s speedy recovery and gets back to normal health.
Did you choose star health?
Vinay, Wish you mum speedy recovery.
Vinaya-
I am planning a package for my father. I am choosing Star Health Sr.citizen red carpet. The advisor how explain us the program was not very informative. Could you please give the contact person details you discuss with? I Appreciate your help in this.
Vinay
Vinay, I have emailed you my phone number. Please call me and I will pass on the branch manager’s number.