Foundations of Finance

I worked at an insurance company for a long bit of time. I started in customer service, then moved to correspondence, then appeals, then auditing. I learned a lot while I was there and loved the experience. I learned a couple things that definitely stuck with me. One-health care is expensive…and Two-insurance does a LOT to help.

I know a lot of people blame the insurance companies for the “ridiculously high premiums” and “not doing as much as they could”. However, have you ever thought really long and hard as to WHY premiums are high? It doesn’t take too long to realize that premiums increase because health care costs have increased. It’s a cycle. It’s not one entity’s problem. Some say that the best policy is just to make the insurance premiums stick to a fixed rate, or require all insurance companies to cover whoever wants it. Perhaps some sort of method along those lines would in some ways be conceivable, but if you’re going to “fix” healthcare, you have to fix ALL aspects of it. Insurance is high because machines and labs and doctors are charging more for services and purchase.

Sorry–that’s a little off the point…I obviously have my own opinion about these things…

ANYWAY, back to how health insurance helps! As I said before, I saw a lot when I worked for an insurance company. One thing I obviously saw was the price of healthcare. Claims would come in from doctors and hospitals and show a dollar amount. Insurance would pay for most of the services. Most of the complaints we would get would be from people who thought that the insurance should pay the whole thing. What they didn’t realize was that if they didn’t HAVE insurance, they’d be paying a LOT more. Sometimes claims can come across with a $1200 bill and all they have to pay in the $100 copay. So, how does this have to do with saving money?

My basic point is this–get health insurance! Some people said outright that they’d rather just not have to pay for insurance because the premiums are too high and they’re healthy. But what happens when you have an accident and are in the hospital for a week. That costs THOUSANDS of dollars. Again-some people don’t recognize it. The other thing is, only go to the ER or call an ambulance when it’s an EMERGENCY! I have a friend who works on an ambulance and half of his calls are from people who broke their arm or their back hurts. Then drive yourself to the instacare! An ambulance costs a ridiculous amount of money. If we continue to call them when they’re not needed and send the claims to the insurance, the premiums increase because of the high volume of use.

Again, I’m semi rambling. Sorry. So-moral of the story? Buy insurance-all kinds. Be prepared for accidents. If you don’t, you’re gonna be in all kinds of financial problems. If it ends up that you will have to do a little rebuilding, don’t worry! It can be done, but better to be safe than sorry!

I was looking up information on finances and money issues, etc. and came across some quotes about money. I thought a lot of them were pretty entertaining/interesting, so I thought I’d share. Some of them I agree with, some of them I don’t, but they’re all either just funny or words to live by. You can decide for yourself. Enjoy!

“Money is like a sixth sense-and you can’t make use of the other five without it.”
-William Somerset Maugham

“Time is more valuable than money. you can get more money, but you cannot get more time.”
-Jim Rohn

“You can only become truly accomplished at something you lov. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.”
-Maya Angelou

“Money never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one.”
-Benjamin Franklin

“Whoever said money can’t buy happiness simply didn’t know where to go shopping.”
-Bo Derek

“When I was young, I thought that money was the most important thing in life; now that I am old, I know it is.”
-Oscar Wilde

“Work like you don’t need the money, love like your heart has never been broken, and dance like no one is watching.”
-Aurora Greenway

“A man is usually more careful of his money than he is of his principles.”
-Ralph Waldo Emerson

“Virtue has never been as respectable as money.”
-Mark Twain

“Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.”
-Arnold Schwarzenegger

“I choose the likely man in preference to the rich man; I want a man without money rather than money without a man.”
-Themistocles

“Never spend your money before you have it.”
-Thomas Jefferson

This weekend I watched Baby Mama with some friends of mine who are actually expecting a baby. There was one part of the movie that they could NOT get over for the life of them. More than once they expressed concern and shock that having a surrogate mother meant dishing out 100 thousand dollars. I have to admit-that’s a little steep for me too. In rapidly researching the subject, I found that it costs anywhere between $65,000 and $110,000 to have a surrogate. The price changes depending on the method of implanting, etc.

I am not a mother. I want to be at some point, but I can’t imagine spending that much money for a child. Don’t get me wrong, adoption is about $30,000 and that’s quite a bit of money as well-I would do that in a second. I do understand the need of some women to have a child that is genetically their own, I just don’t know how I would act if presented with that situation. Would I spend over 100 thousand dollars for a child?

This is NOT a moral or ethical blog, I’m simply wondering if I would spend that much money for my “own” baby instead of still spending a lot for an adopted child that needs the love and care just as much. Again, I’ve never been faced with that situation…I’m just thinking aloud…thanks for bearing with me!