The doctor prescribes a drug and if it doesn’t work well enough the consumer goes back and has another prescription filled out. This is costing all of us today and will take rights away in the future years. The private side (Employer/Employee group programs) will not be able to afford this type of medical coverage in the future if we don’t take action. So, what can you do?
- Ask for generic drugs first and make the savings start right now.
- Ask more questions of your doctor on the drug they are prescribing for you.
- Ask your pharmacist what their dispensing fees are and seek out lower charges to have your prescription filled.
- Exercise daily.
- Eat right.
This year a new government savings tool was introduced called the TFSA or Tax Free Savings Account; it’s a very simple yet useful tool in saving for retirement or anything for that matter. One of the biggest downfalls to being a contractor has always been the responsibility to handle one’s own finances, from deductions to GST. A tax-wise contractor knows the advantage of dividends and lowering the taxable income.