Living with a chronic illness can be expensive, and it can be hard to save for your medical needs. 

Between the cost of medications, doctor’s visits, and other medical expenses, the cost of living with a chronic illness can add up quickly. If you’re not careful, you could find yourself in financial trouble.

That’s why it’s important to build a solid savings that can help cover the cost of your medical needs. 

In this article, I’ll share 15 tips you can use to fuel your saving goals to cover your medical needs and other personal living expenses.

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Assets and Liabilities: Understanding the Difference

In the world of personal finance, there are two important terms that are good to know: assets and liabilities. Assets are things that you own that have value, while liabilities are things that you owe. 

By understanding the difference between assets and liabilities, you can get a better understanding of your financial situation and improve your ability to reach your financial goals, whether you want to plan for a FIRE lifestyle or otherwise. 

Assets and liabilities are the two sides of the balance sheet, and they provide a snapshot of your financial health, so it’s a good idea to get familiar with the value of each of yours.

In this article, I’m going to explain the difference between assets and liabilities and give you the information you’ll need to help you understand your net worth.

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