Valdosta Daily Times

Business

January 12, 2014

The biggest things I learned in 2013

(Continued)

VALDOSTA — 2. Know when to hold’em, know when to fold’em.

One of the biggest things I learned this year is figuring out when it’s time to walk away from a purchase or a big financial decision. After moving to Savannah, the hubs and I were under contract for a house (as I’m sure you loyal followers recall). After interest rates soared, we decided to back out of the contract because the monthly mortgage payment would not have been in line with our determined monthly budget. Walking away from a dream purchase like a house or car is really difficult to do, but when you are able to do so, it’s pretty satisfying. In retrospect, Cameron and I look back on that moment with a sense of pride. It’s important to always know where you stand with your finances, so you don’t get in over your head.

3. Put your health over your wealth.

When I first graduated college, I thought I was invincible. All I cared about was the money in my pocket and I didn’t like things to chip away at that money ... Health insurance was one of those things. After getting married, the hubs and I did not have very good health insurance. We paid for the bare minimum and didn’t fully recognize how that was hurting us financially. After I took a job with the university system nine months ago, I was given the opportunity to purchase top-line health insurance. While the monthly cost was significantly more than what I was used to, I have noticed a significant decrease in my expenses as a result. My co-pays are cheaper, my medicine is cheaper, and when I have procedures or surgery (which I have had to already do twice since moving here), I walk out with virtually no bill. While the monthly expense may seem large on paper, it’s worth it.

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