Category: Frugal Living Tips

We’ve all thought it, “Why is the cost of prescription drugs so high?” You may think it’s the pharmacy jacking up the price, but in reality, it’s the drug manufacturer that sets the price tag.

The United States is the only country in the world that lets drug manufacturers and companies set their prices. To learn why the prices are so high and how to get around paying the full price, keep reading below. 

Why Is the Cost of Prescription Drugs so High?

It’s not a secret that prescription drugs are more expensive in the United States when compared to other countries. This is due to the government-protected monopoly rights for drug manufacturers. 

With the United States not regulating drug prices, it is left to the manufactures. In other countries, a government team is tasked with reviewing new drugs and setting the price, making sure it’s uniform.

As for the protected monopoly, this is in the drug manufactures patents. By letting these companies have 20-year patents they can keep the rights to the drug and not let generic formulations hit the market. This means the price won’t drop anytime soon. 

The First Problem: Companies Set Their Own Prices

Countries that have national health programs work together with medical companies to set and negotiate prices. In the United States, there is no national health program and this leads to companies setting their own prices.

The Second Problem: Government Protected Monopolies

The United States has a specific patent system for drug manufactures. This allows drug companies to hold their patents for 20 years or more. The idea behind this was to help promote innovation, but it led to drug prices skyrocketing. 

When you take a closer look at these 20-year patents, you will find that drug companies play the system to keep the patents and the drug under their roof.

When the 20-year expiration is about to come up, drug companies will make minor tweaks to their drugs. These tweaks can be anything from putting the formula together in a different way of adding or removing a minor ingredient.

This is concerning because once the patent is up other companies can begin to create generics. Generics are not made under the brand name and are usually cheaper than the original medication. Once the generic hits the market, the name brand drug’s price also drops to meet competition.

The Third Problem: The FDA Takes Their Time When Approving Generics

As stated above having generics on the market helps to give consumers a cheaper option and it also helps the name brand drug’s price to drop. This sounds easy but other than drug companies holding onto their patents in sketchy ways, the FDA takes its time with approving generic formulations.

Due to the backlog of applications the FDA has for generic medications, there is a 3 to 4-year waiting list. This is an issue because consumers shouldn’t have to wait for years to have access to affordable healthcare. 

This isn’t the only problem generic drugs face when trying to make their way to the market. There are plenty of laws in the United States that can sometimes make it difficult for pharmacies to carry generic formulations.

The Forth Problem: Drug Manufacturers Aren’t Straightforward

When drug manufacturers and companies are confronted about high prices they will say that due to research and development costs, the prices must be high. When researchers looked into this they found out the numbers didn’t add up.

Usually, this research is funded by an organization which means the manufactures do not have to spare a penny from their pocket. Even if drug companies do put out money for research, it’s only 10 to 20 percent of their yearly revenue.

The manufactures decide on the price of medications due to the demand. If there is a high demand for the medication they will raise the price because consumers will buy it no matter what. If there is a low demand the price tends to be cheaper.

The Fifth Problem: Medicare

Years ago it was possible for Americans to try and negotiate drug prices. But in 2003 this all changed when the Republican-majority Congress created Medicare.

Those on Medicare, usually adults 65 and older, will get name-brand drugs for the full price.  This is because Medicare is barred from negotiating prices with drug manufacturers and they must pay for any drug the FDA approves. 

How Can You Find the Best Prices for Perscription Drugs?

Even though drugs are costly, you can get around the large price tag and find them for cheaper than the market price. One way to avoid the large price tag is to buy prescription drugs online. After ordering the prescription drugs will be mail ordered to your home in just a few days.

If you don’t want to buy online or don’t have regular access to the internet, you can use a pharmacy checker to see what pharmacies have the cheapest prices in your area. A pharmacy checker will help you to save money and to see what pharmacies have higher prices and which ones have more affordable ones. 

The More You Know

We have discussed the high cost of prescription drugs in the United States. We even noted how the United States differs from other countries when deciding on drug prices.

You now know the top reasons as to why prescription drugs are more expensive in the United States. We also gave you the tool to find drugs for cheaper to save some money. 

For more money-saving tips be sure to check out the rest of our website. 

Getting a divorce is considered the second most stressful life event after the death of a loved one. The pressure of facing the end of a marriage—along with juggling parenting duties and a job—can make some people end up doing and saying things they’ll later regret.    

As tempting as it is to let emotions get the best of you in a divorce, your behavior can hurt your outcome as well as your children’s. Here are some dos and don’ts to keep in mind as you move through the divorce progress. 

Do Hire a Good Divorce Lawyer

Divorce is not just painful; it can also be expensive. Divorce lawyers usually charge a minimum of $75 per hour and the actual trial can cost thousands.

So don’t hire the first divorce lawyer you see advertised; ask around for recommendations and check reviews and testimonials. You want a lawyer who has your best interests in mind and who will fight for what is rightfully yours legally.

Don’t Bash Your Spouse on Social Media

Although you make think that bashing your spouse on Facebook during a divorce may be therapeutic, it may not be the best idea. Assume that anything you say on social media can be seen and used against you in court. Your behavior can tilt the court’s favor and sympathy to that of your former spouse. 

You may want to avoid posting any personal information altogether and mentions of large purchases until your divorce is final. Sometimes taking a break from using social media until after the divorce is the safest way to handle your social media accounts. Find out how social media usage can impact your divorce’s outcome.

Do Follow Court Instructions

If the court is asking you for information—for example, a plan about how you and your ex will juggle parenting duties—always follow through and provide the requested information to the judge or your lawyer in a timely manner. Doing so shows the court you’re taking the divorce proceedings seriously. It may also help your divorce case progress faster towards finalization.

Another tip: dress professionally and always show up on time for court appearances. Conduct yourself professionally in court to make a positive impression on the judge.

Don’t Use Your Kids to Manipulate Your Spouse

It’s very common for divorcing couples to use their children to hurt or manipulate the other spouse. However, children are the most innocent victims of divorce and shouldn’t be used as pawns to get your way.

You should also avoid badmouthing your former spouse in front of your kids. Bite your tongue and save your frustrations for private get-togethers with your friends or other family members.

Your children should be allowed to form their own opinions of both their parents as they mature into adults.

Do Keep Thorough Financial Records

Your lifestyle is likely to change in a divorce; you may need to find new housing and a higher paying job.

Keep thorough financial and spending records so that you’ll receive payment for what you’re entitled to from your spouse. Being able to produce receipts and bank statements promptly will help the divorce get finalized sooner.

Don’t Begin a New Relationship Right Away

Finding yourself suddenly alone after years of living with a partner can make you feel lonely and incomplete. You may be tempted to create an online dating profile to see what you’ve been missing in the singles scene and to ease the loneliness before the divorce papers have dried.

Well, don’t. This is the worst time to get involved in a new relationship because you’re not ready for one and that’s unfair to anyone you date.

You need time to heal and to learn from your own mistakes that contributed to the end of the relationship. Children are especially vulnerable during a divorce, and the last thing they need to deal with during this sad and confusing time is introducing them to a potential new partner.

It takes a long time to heal from the emotional upheaval of a divorce. Wait until you’ve forgiven your partner—and yourself—before you jump into the dating scene.

Do Be Good To Yourself

It’s important to keep up with self-care and self-love when going through a divorce. Make time for a workout or yoga session to help ease some of the stress. Eat a healthy, balanced diet, get plenty of sleep, and if you have the extra money, book a massage or a relaxing spa treatment.

Go out with friends where you can vent about your frustrations away from the kids and enjoy some socialization. Seek therapy to discuss your divorce if you think it will help you process your feelings and move on.

Don’t Stalk Or Threaten Your Spouse

It goes without saying that you need to respect your spouse’s new life and not do anything that will compromise your guardianship of your kids or your side in court. Following your spouse or threatening them can be used against you. Work with your spouse and communicate fairly to come to agreements so you can both put the divorce behind you as quickly as possible.

Know How to Behave Properly In A Divorce

Knowing how to conduct yourself professionally in a divorce will lead to a cleaner split and less stress for all parties involved including children. Although divorce can be a painful time in one’s life, just remember that there is a light at the end of the tunnel and you will move on with your life.

Check out our family life posts to learn how to help your children feel loved and blameless during and after a divorce.

 

Did you know that medical marijuana is legal in 11 states?

As marijuana becomes more mainstream in America, more people are becoming familiar with vaping and smoking. You may have heard the term dabbing, which is a powerful method to ingest the max amount of cannabinoids that you possibly can from a marijuana plant.

Cannabinoids are a therapeutic chemical compound of cannabis. While many people may be nervous to use dabbing, because of the complexity of this method of consuming marijuana, if you need a higher amount of THC to achieve your marijuana goals, dabbing can help you.

Are you interested in learning about dabbing? We created a complete and comprehensive guide to understanding marijuana dabbing. Keep reading to learn more!

What Are Dabs?

Dabs are a concentrate of the chemical compounds of cannabinoids. By extracting one of the two major cannabinoids, which are CBD and THC, you can use dabs to provide you with an illicit high or to treat your aches and pains.

Depending on the extractor, some dabs contain a higher concentration of CBD, while most dabs have a large level of THC.

Here’s a closer look at the most popular kinds of dabs you’ll run into:

• Shatter: this type of job has a texture that’s like glass, with a translucent finish. It’s easy to tear apart, but you can shatter it using a dabber device.

• Wax: wax has a consistency that’s comparable to a combination of buttery and oily, very similar to peanut butter.

• Butter: butter isn’t entirely a solid or a liquid. Depending on the extractor, it could have a similar appearance to shatter or be completely liquid.

• Live resin: another dab that differs by the extractors, live resin is made using cannabis flower buds that have been frozen. These freshly collected flower buds have a larger concentration of terpenes, unlike other traditionally dried cannabis flowers.

• Crumble: also commonly known as ‘honeycomb’, crumble dab has a dryer extract than other types of dabs.

• Honey oil: known for its profound amber color, honey oil has a runny or consistency than shatter does.

• Bubble hash: bubble hash has a brittle texture. It’s made from frozen flower buds and that have been soaked in ice water. Once the frozen buds have been soaked, they’re drained through a bag.

• Snap and pool: known for it’s toffee-like consistency that’s very sticky.

There are many different types of data options on the market, depending on what you’re looking for. Let’s take a closer look at what dabbing is.

Are you interested in learning more about cannabis tabs? Check out this interesting cannabis dabs article.

What Is Dabbing? 

Dabbing is the method of using cannabis extracts through a compact dab pen. However, a dab rig utilizes a nail. On a dab rig, the drabber will heat the nail with a flame until the nail has reached the ideal temperature to decrease a small amount of cannabis extract in.

Once the cannabis extract is inside, it’ll begin to vaporize. You’ll then be able to inhale cannabis vapor.

How Are Dabs Made?

There’s a large variety of removal techniques that are used to separate the chemical compound that’s located in the trichomes on a marijuana plant. The flower buds on a cannabis plant have a greater strength of cannabinoids then the stalks and leaves have. 

For extractors to get the cannabinoids out of a cannabis, the type of high-quality equipment that’s used depends on the type of dab. 

Butane

Butane is utilized to make a variation of dabs, such as wax, oil, and shatter. The cannabis materials and butane are collected into a column for a close-loop system that reduces the potential of leaking during the creation of a dab.

There’s a solvent strip that’s located inside of the close-loop system that removes the cannabinoids. 

Carbon Dioxide Extraction 

This type of extraction uses carbon dioxide out of a variety of temperatures and pressures to convert the cannabinoids to a liquid state. This type of extraction is the safest method you can use when creating dabs. 

How Strong Is a Dab?

If you’re looking to step up the potency of the marijuana you’re consuming, dabs are much more potent than cannabis flowers.

The highest strength strains of cannabis flower have between 25% to 35% THC content. However, dabs can have over 90% THC content. 

Marijuana beginners shouldn’t start with that big of a dose, as the effects of THC can be overwhelming on your first try. If you’ve never dabbed before, you can start off with a minimal amount to have a better understanding of how dab affects your body. 

While the initial effects of dab only last a few hours, the THC from the dog will remain in your system for several days. The overall strength of the dab you take depends on the size and the type of dab. 

Understanding Marijuana Dabbing

Using dabbing for your medical marijuana needs is a great way to receive a higher potency for medicinal purposes. As dabbing grows in popularity, you should be sure to always look for a concentrate that’s been tested by a third-party laboratory.

There are different strengths of dabs, so if you’re a beginner to using dabs, be sure to start off with a small dosage. Once you have an understanding of how the potency of dabs affect you, you can increase your dosage.  

Are you interested in learning more about how to use marijuana to treat your medical condition? Check out our blog for more information.

Are you worried about not being able to pay your medical bills after a severe accident on the road or at work? Do you want to make sure your accident doesn’t get in the way of your ability to take care of your family?

If so, then it is time for you to learn how to build funds for emergencies. This bank account will allow you to pay for expenses that come with dangerous situations that can come at any time.

These expenses can range from visits to the hospital and repairing your home to fixing your car and money lost from not being able to work. With our knowledge of money management, you and your family will remain financially and emotionally secure.

Here is a guide for how to build funds now for tomorrow’s emergencies.

1. Set a Monthly Savings Goal

Your first task for how to build an emergency fund is by putting a certain amount of money into your savings account each month.

It’s important to develop your saving habits, and your fund won’t be complete until it has at least half a year of living expenses.

2. Organize Expenses

The next step in creating your emergency fund is figuring out what you spend money on and how much per month.

About 50 percent of your checks should go towards housing, food, insurance, and other necessities, and leftovers can go into your savings.

3. Save Change

If this is your first time learning how to make a budget, then one everyday factor you need to consider is change from purchases.

Put the change from your purchases with cash into your account, and those who prefer paying with cards can use mobile savings apps for automatic transfers.

4. Save Tax Refunds

You also need to be aware of sources of money that only come around once a year, such as tax refunds.

Deposit your refunds into your savings account when you file your taxes, and a probate lawyer can help in case this is your first time paying taxes.

5. Trim Down your Checking Account

Budgeting involves knowing which areas need money more than others, which is why you need to pay attention to your checking account.

Transfer money from this account into your savings fund in case you notice your checking account having more money than what is needed.

6. Find Another Job

Knowing how to create emergency funds also involves taking advantage of opportunities to make money.

Look for part-time jobs or freelance work you can do over the weekend to keep your savings account full.

7. Sell Unused Items

You can also build funds by selling items that you’ve owned for years but no longer have a use for.

These items may include clothes, books, toys, board games, and video games, which can put money in your pocket while making another person happy.

8. Stick to Monthly Checkups

Visit your savings account every month to see how much you have and stay prepared for changes that expected a few months down the line.

Whether you plan to move, get married, or start a new job, you can develop new techniques or meet the right people at any moment that can help you keep your savings in good shape.

Preparing to Build Funds for Emergencies

Your ability to build funds for emergencies depends on how you use the money on a daily basis. Keep track of what you need and don’t need so that you can maintain a balance between all accounts.

We also recommend looking out for opportunities and individuals that can help you add more to your savings account over time. With this guide, you can keep yourself and your family in good financial shape no matter what comes your way.

For more of our money management expertise, check out our guides today to keep your pockets and accounts full.

Living independently as a senior is a dream for most of us, but it comes with its own challenges.

More than 40% of seniors in America experience loneliness on a regular basis, while similar numbers also suffer from poor healthcare and money management.

If you want to live out your golden years in happiness and security, help for seniors is widely available. With the right resources for living as a senior at your disposal, retirement will be a breeze.

Here are the top resources for seniors in America. 

The National Council on Aging 

If you’re looking for a one-stop-shop when it comes to self-help for the elderly, the National Council on Aging (NCOA) is the best place to start.

This government-supported agency works with nonprofits and community programs across the country to provide help for seniors.

Here you can access financial planning, medical advice, social programs, and transport services no matter where you are.

All their services are completely free to access, meaning you can get the advice you need, no matter your financial position. 

Senior Select 

If you’re in need of the right medical care for you, then Senior Select is one of the best products for the elderly living alone.

With Senior Select, you can receive comprehensive, expert advice on your medical entitlements.

If you are eligible for Medicare, the team at Senior Select will sit down with you and make sure you know what all your benefits are. This means you’ll know exactly the kind of care you deserve, supported by experts in the industry.

You’ll also learn how to save money by being matched with the best medical plans for your budget. In old age, medical care is too important to ignore.

A resource like this can be a life-changer on the road to independence. 

Eldercare Locator 

Those searching for “community resources near me” need look no further than Eldercare Locator.

This free service, run by the US Administration on Aging, will connect elderly people to all the services they could possibly need.

If you need house repairs done, Eldercare Locator will get you in touch with the right people. If you need caregiving service, they will provide. Or, if you’re in need of legal advice to discuss things such as wills and life insurance policies, they will gladly send a lawyer your way as well.

Senior Community Service Employment Program 

If you’re a low-income senior in need of a part-time job, the Senior Community Service Employment Program (SCSEP) is here to help.

They provide paid, undemanding work to thousands of seniors every year.

You could be given a role in your previous career field or a manageable part-time job in a sector such as retail or administration. All you need to do is check your eligibility. 

Meals on Wheels America 

Meals on Wheels is one of the most well-known seniors’ community services in America.

Their 2 million volunteers ensure that elderly people receive nutritious, balanced, and delicious meals every single day.

They will also conduct safety checks and ask if you need any other resources to help you live your best independent life.

Meals on Wheels is a national institution that all seniors should be aware of. 

These Are Great Resources for Living Independently

These are just a few of the essential resources for living independently as a senior.

To learn how to better manage your money for now and later, make sure to check out our finance section for expert budgeting advice, whatever your age.