3 big ideas for a new perspective on diabetes expenses
BY ALEXA VON TOBEL, FOUNDER AND CEO OF LEARNVEST.COM*
For anyone with a chronic health condition like diabetes, managing money can feel complicated. In fact, more than half of people with diabetes feel they’re worse off financially than people who don’t have diabetes.1
Today I want to share 3 ideas that can help you keep your finances healthy, so you can spend more money on things that help you stay healthy.
- Dedicate a credit or debit card to diabetes expenses. Have you ever calculated how much you spend each month managing diabetes? Having a card specifically for health expenses makes it simple.
Using the Accu-Chek® Guide SimplePay savings card is another—it gives you the same low price on test strips every time and makes tracking what you spend even easier.2
- Try the 50/20/30 plan. I know, no one likes the word "budget," but it can actually be a way to avoid feeling deprived. It's not surprising that in a survey of people with diabetes, nearly 60% of the participants said they often cut corners for financial reasons.3 So if you're feeling this way, planning ahead can be a lifesaver. Here's how it works:
- Put 50% or less of your total income toward the necessities, like diabetes-related expenses, rent, transportation and groceries.
- Next, put 20% away for the future.
- The remaining 30% is yours to put toward fun stuff like a vacation or maybe a healthy cooking class.
- Shop the outer perimeter of the store. When you’re managing diabetes, eating healthy is so important. But it can also get pricey. The outer edges of the store is where they keep the least-marked-up items—and also the healthier ones. And pack a lunch and snacks for work. It'll help you stay on track foodwise and moneywise.
When it feels like everything around you is complicated, look for ways to keep it simple.
Always pay the same low price for test strips.
Get the Accu-Chek® Guide SimplePay card.2
As the creator of a company dedicated to making financial planning simple, Alexa von Tobel is no stranger to the notion that managing finances can add stress to your life and on top of that managing a chronic condition like diabetes can make budgeting even more complex. Alexa and Roche Diabetes Care are teaming up to help people living with diabetes develop new habits to better navigate the financial complexities of the condition.
Alexa von Tobel is the Founder and CEO of LearnVest.com as well as the New York Times-Bestselling Author of Financially Fearless. She launched LearnVest, a company redefining America’s approach to personal finance, in 2008 and raised nearly $75 million in financing for the company before it was acquired by Northwestern Mutual in May 2015. Von Tobel is a member of the 2016 Class of Henry Crown Fellows and was an inaugural member of President Obama’s Ambassadors for Global Entrepreneurship. She has been included in the Forbes 30 Under 30 list, selected as one of Fortune's Most Powerful Women and included in their 40 Under 40 list, named one of the World Economic Forum's Young Global Leaders, listed on Inc. Magazine's 30 Under 30, noted as one of "18 Women Changing the World" by Marie Claire, and given a "Genius Award" from Elle.
*Alexa von Tobel is a paid spokesperson for Roche Diabetes Care, Inc. The information contained in this article is for informational purposes only and is not financial, investment or tax advice. You should consult with your professional financial adviser to determine what is best for you.
1The Roche Accu-Chek Survey was conducted online by Wakefield Research among U.S. adults ages 26-64, 500 of whom are currently being treated for diabetes and 500 who aren't, between November 21st and December 1st, 2017. The margin of error was +/- 4.4% for each audience.
2THE CARD IS NOT INSURANCE; IT IS A CASH DISCOUNT PROGRAM AND CANNOT BE COMBINED WITH ANY FORM OF HEALTH INSURANCE. Those insured by any government healthcare program, such as Medicare, Medicaid, the military or VA, are NOT eligible for this offer. Insurers may offer a lower cost option. 30- or 90-day Accu-Chek Guide test strip prescription required. Limit 12 vials per refill. Refills cannot be dispensed before 75% of previous days’ supply have elapsed. Program may be changed or discontinued at any time.
3The Roche Accu-Chek Survey was conducted online by Wakefield Research among 500 U.S. adults with diabetes, between April 11th and April 19th, 2017. The margin of error was +/- 4.4%.
LearnVest is a registered trademark of LearnVest, Inc. ACCU-CHEK, ACCU-CHEK GUIDE and ACCU-CHEK GUIDE SIMPLEPAY are trademarks of Roche.