I’m constantly amazed at the number and amounts of financial assistance programs that are available for cancer patients. I was never told that these resources were available to my husband when he battled myeloma from 2002 until his death in 2013. I speak often to patients or their caregivers that share with me that they have good insurance and would rather leave those resources to people who really need it.
I say to everyone, no matter how good you think your insurance is, there will always be additional out-of-pocket expenses that pop up so take a look at financial grants and assistance programs that you can take advantage of that can help you manage your daily expenses. With the costs of everything rising with no end in sight, keeping more money in your pocket can mean the difference between financial security and financial toxicity.
In this article, I will share some areas you may be able to increase income or take advantage of the financial benefits you may be overlooking. Additionally, I will add some other strategies you can put into place that will leave dollars into your pocket without a tax liability. I am only supplying you with general information. Please seek advice from a financial planner or advisor, for anything specific to your financial situation regarding assets or products.
First, look at several areas of your financial house and determine if you are positioned to take advantage of additional income opportunities. Review your current financial position, and talk to your financial advisor for direction.
How will you know exactly what your needs are if you’re just guessing? People tend to be more successful financially when goals and needs are written out. They have to be measurable and achievable. Working with an expert will help you become more accountable. Consider the following areas in your financial review and discuss with your financial advisor as needed.
Take advantag eof credit cards that give you cash back for usage. This will help spread your dollars even further. Use them to buy things you would normally use cash or debit cards for. Since you already have the money, pay for it with this card and then pay it off every month. The increase in your credit score is also a nice benefit.
If transferring your balance isn't an option, be very careful when using credit cards right now. The interest rates that have a range will be going up costing you more to carry credit.
Travel credit cards can be a huge benefit if you have to travel for treatment. Use them just as you would a cash back rewards card to earn you dollars that can help with travel costs
Reviewing these areas of your financial house will allow you to determine if you are positioned to take advantage of additional income opportunities. I encourage you to review the many options available to you to keep more money in your pocket. Prudent care can make this period of economic stress more tolerable.
As the Financial Program Manager, Diahanna leads a Financial Team of HealthTree Coaches in sharing financial support and resources to myeloma patients and caregivers. Financial Coaches are able to share their personal experience with financial resources and tools to assist you in planning and preparing for the cost of myeloma treatment. If you would like personalized support from another myeloma patient or caregiver for financial or any other resources, visit the Coach website.
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about the author
Diahanna Vallentine
Diahanna is the Financial Program Manager for the HealthTree Foundation, specializing in financial help for multiple myeloma and AML patients. As a professional financial consultant and former caregiver of her husband who was diagnosed with multiple myeloma, Diahanna perfectly understands the financial issues facing myeloma patients.
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