Part 5/7:

• Health Insurance: Medical expenses can be substantial; being insured protects you from significant out-of-pocket costs.

• Personal Accident & Critical Illness: These policies provide financial support during unexpected health crises.

• Life Insurance: Essential if you have dependents, it ensures their financial stability in case of your untimely demise.

Young individuals often tend to overlook insurance due to rising premiums, but proactively securing coverage is a vital part of responsible financial management. For those with families, insuring loved ones further safeguards the entire household’s financial health.

Cultivating Good Payday Habits

While managing your budget, certain habits—both positive and potentially harmful—can impact your financial health.