Breast cancer, of course, can exact a physical and emotional toll on a family, but it can also exact a financial toll as well. Increasingly, with new forms of therapy, new medications, new procedures, and an array of follow-up visits--a breast cancer diagnosis requires a deep bank account, even for those who are insured.
So let's talk money matters for a bit here. I hope a few insights might help.
Here, let's talk about creating a financial plan. Early in the diagnosis, cancer patients and their families should sit down together and first determine the resources available to cover those expenses that insurance will not cover. Some of these expenses may be of the smaller variety, but others could mount. And doctors and hospitals--as well as other cancer patients' experiences--can help you in determining what these costs might be.
Next, if you know what some of these expenses are going to be, and feel that you may not have the financial resources to cover these costs, begin by contacting a social worker at the hospital. A medical social worker can steer you in the right direction, or may have initial suggestions for you.
Begin to work your plan. This may involve saving a bit more each month, or cutting back on certain expenses (think about those non-essentials such as cable subscriptions, beyond-basic phone plans, and even lunches and dinners out). Most families will discover that they can save a few hundred dollars a month by just cutting the non-essentials from the financial appetite.
Finally, if you don't have one already--develop a budget that reflects the new reality with the cancer-related expenses. Be creative in your work here--and don't overlook any downturn in your income that might be related to loss of time at work or time away from the job. Be realistic. Don't fall into the trap of believing that by ignoring a financial problem that it will go away. Face the reality, but face it early so that you can concentrate on using your work and your finances to get well.
By taking some of these early steps, you can avoid deeper financial problems later.
(Visit again for more Money Matters . . . )
So let's talk money matters for a bit here. I hope a few insights might help.
Here, let's talk about creating a financial plan. Early in the diagnosis, cancer patients and their families should sit down together and first determine the resources available to cover those expenses that insurance will not cover. Some of these expenses may be of the smaller variety, but others could mount. And doctors and hospitals--as well as other cancer patients' experiences--can help you in determining what these costs might be.
Next, if you know what some of these expenses are going to be, and feel that you may not have the financial resources to cover these costs, begin by contacting a social worker at the hospital. A medical social worker can steer you in the right direction, or may have initial suggestions for you.
Begin to work your plan. This may involve saving a bit more each month, or cutting back on certain expenses (think about those non-essentials such as cable subscriptions, beyond-basic phone plans, and even lunches and dinners out). Most families will discover that they can save a few hundred dollars a month by just cutting the non-essentials from the financial appetite.
Finally, if you don't have one already--develop a budget that reflects the new reality with the cancer-related expenses. Be creative in your work here--and don't overlook any downturn in your income that might be related to loss of time at work or time away from the job. Be realistic. Don't fall into the trap of believing that by ignoring a financial problem that it will go away. Face the reality, but face it early so that you can concentrate on using your work and your finances to get well.
By taking some of these early steps, you can avoid deeper financial problems later.
(Visit again for more Money Matters . . . )
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