World Health Day 2023: Balancing your health budget and finances can be challenging. Ensuring you have the resources you need to prioritise your health while also staying financially healthy. Experts suggest creating a budget that includes all of your monthly income and expenses, including your health care costs, is crucial. This can help you identify areas where you can cut back on spending and allocate more money towards your health care needs.
World Health Day is a global health awareness day that is celebrated every year on April 7th. It was first established by the World Health Organization (WHO) in 1950 to raise awareness about the importance of health and well-being around the world.
World Health Day Theme 2023
Each year, the WHO selects a specific health theme to focus on, and events and activities are organised around the world to raise awareness and promote action on the chosen topic. The theme for World Health Day 2023 is ‘Health For All‘.
On April 07, 2023 the WHO will also observe its 75th birthday.
Chris George, co-founder and CEO, QubeHealth, said, “‘Balancing a health budget with personal finance’ is unfortunately a paradox when what it should be is one and the same thing.”
Your personal finances are deeply impacted by your health care expenditure, which sneaks up within your monthly bills in the form of bills from the medical and general store or a minor illness-led health check-up.
“If you add a dentist or eye doctor expense, then this number goes up. When you add that laser hair removal procedure or mental health counselling, you start taking out bigger pieces of your personal finance pie,” George added.
A major, planned medical procedure like assisted pregnancy or Invisalign braces for your teenage child will certainly take a bigger share of your family’s finances, not to mention any unplanned, emergency medical expenditure.
Every family has to plan for uncertainty, but healthcare is as certain as taxes.
“You should get the best possible health insurance that you can afford and do it early on in your life to keep the premium costs low. But you must augment this with access to quick funds, preferably at no cost, that give you the power to spend on the care your family needs, when they need it, and at the healthcare provider of your choice, as opposed to what you can afford,” George highlighted.
George added that your employer should be able to help you make these decisions, and so should your personal finance manager. Just remember that health insurance is often rather limited in what healthcare expenses they cover and to what extent.
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