Finances
Summary
Next »1/8
It is never too late to improve your financial health, especially if your financial picture will change because of your diagnosis. The time to start is now.
Get past the emotions a discussion about money can bring up. There is too much at stake.
Get a fix on where you are today. Then see what would happen if your condition caused you to become disabled and unable to work. Take some time to also see what will happen on the road to meeting your goals. If there is a shortfall, now is the time to take action. These calculations don't have to take a lot of time.
If you are experiencing a financial crunch, there are steps to take.
- Start with a budget which will show where your money goes and help you change course.
- If necessary, learn how to prioritize your debts, and deal with creditors.
- Bankruptcy is always an option -- it's such a part of American life that bankruptcy is built into the constitution.
Credit takes on new meaning because of your diagnosis. Do what you can to keep and improve it. If you don't have it, you can still get it.
Life has a way of throwing financial roadblocks, detours and potholes in our path. Building an emergency fund is tough when money is tight, but every dollar in reserve helps. (We refer to it as an Emergency+Fund).
If you are taken advantage of financially, you may be able to get your money back (plus damages) if you are considered to be a "vulnerable" person because because of your health condition or because you are age 60 or over.
