Most of are always looking for ways to save money. There is plenty of advice out there on where to cut corners. But Anna Cadwallader of Manilla.com says it's better to bite the bullet and pay the extra cash now to save in the long run.
Cadwallader says there are some financial corners you should never cut.
1. Insurance. Insurance is an important financial safeguard against accidents. If you cause a ten-car pile up without insurance, your bill for property damage and medical expenses could force a bankruptcy.
Health insurance and home insurance are also very important, and trying to save money on any of this now could cost you big time later.
2. Medical care. Poor or deferred medical care is like gambling with your life. Poor medical care can result in a misdiagnosed problem or miss something which could cost you your life.
3. Credit card bills. To avoid the stress of debt, pay your credit card bill in full and on time. Missing payments will hurt your credit score having a negative impact or ability to get a car or home loan in the future. And paying the minimum will only mean higher interest charges.
4. Your mattress. You spend a third of your life in bed, so don't be stingy about buying a mattress. Bad mattresses cause back and shoulder pain and sleep deprivation. So indulge yourself in a good mattress. It will pay for itself.
There are more corners that shouldn't be cut. For a complete list and the entire article by Cadwallader, click on the link.