SARASOTA – Managing your diabetes can take a toll on your health, but it can also take a toll on your wallet.
Medical equipment, doctor’s visits and lifestyle changes add up quickly.
“Medical Costs if you have diabetes vs. not having diabetes are two times,” Alexa Von Tobel said. “And what that really equates to over five years is a 41% increase in your medical costs for people living with diabetes that is a real burden on your wallet.”
Learn Vest Dot Com Founder Alexa Von Tobel says having a budget and a financial plan can prevent you from making decisions that will negatively impact your health.
“58% of people with diabetes are cutting cost on their treatment,” Von Tobel said. “So meaning they’re not actually executing their full health plan, and then 75% of people are actually straying from their diet because of their wallet.”
Von Tobel says changes can start small by finding simple ways to save on healthy food choices.
“Whenever you go grocery shopping remember to always pick up the coupons at the front of the store,” Von Tobel said. “Shop with a grocery list because you are going to be more than 50% more likely to save money if you simply have a list, it avoids you from putting those cupcakes and ancillary items into your cart.”
Von Tobel says people should also take advantage of health plans that can help you save, like Accu-Check Guide Simple Pay.
“It’s literally think of a tracking card that allows you to get real predictability over buying your test strips,” Von Tobel said. “I like it because it gives you real transparency into the price and it’s a great too for people to use.”
Von Tobel says not having a financial plan is a plan; it’s just a bad plan.
“Your health is your biggest asset,” Von Tobel said. “Even as a certified financial planner I would say that, and we want to make sure that you’re not cutting those corners because of your financial planning.”
According to the American Diabetes Association, Diabetes and Prediabetes cost an estimated $24.3 billion every year just in Florida.