Financial expert Kathryn McCall offers valuable insights into managing medical debt and saving money during the back-to-school season. McCall emphasizes the importance of scrutinizing itemized bills and negotiating with medical providers, highlighting a common issue that many Americans face. This advice comes amidst a study by Fidelity Investments revealing that Americans are saving only 3 to 4% of their income this year, underscoring the need for financial literacy and proactive measures.
McCall also provides practical tips for saving money on utility bills, suggesting that peak hours (8 a.m. to midnight) can significantly increase costs. She recommends taking advantage of early morning hours to complete utility tasks, potentially saving half the cost. Additionally, McCall suggests a creative way to earn extra cash by cleaning out closets and selling clothes through online platforms or local consignment shops in Sacramento.
One of her most insightful pieces of advice is about utilizing paid time off (PTO). McCall argues that using PTO is essentially earning free money, as it represents the value of one's time. This perspective challenges the common misconception that PTO is a burden or a loss.
In summary, McCall's advice is a call to action for individuals to take control of their finances, negotiate with medical providers, and explore creative ways to save and earn money. Her insights are particularly relevant during the back-to-school season, where financial planning is crucial. By implementing these strategies, individuals can better manage their expenses and potentially improve their overall financial well-being.
