UF TCYCD Managing Your Finances

Summary

Direct costs come from health care treatments and visits and are somewhat predictable in the short run. Meanwhile, indirect costs are related to or are consequences of someone having cancer, for example, not being able to work as many hours. These costs can also be incurred by a caregiver of the person. This video lesson will teach you about how planning is important in trying to avoid a huge financial shock wherever possible by creating a family budget and being proactive.

After watching this lesson and creating a current budget, consider what might change with respect to resources and expenses during cancer treatment. Try to proactively anticipate how to handle expenses by saving where possible and considering options for covering different types of expenses with the help of a financial advisor, such as fixed and variable expenses. There are many resources to help with these difficult financial decisions and other assistance within this course and outside including your health care provider and charities or organizations.

After completing this lesson, you will be able to:

Understand why finances and financial planning are important during cancer treatment.
Differentiate and recognize examples of your direct and indirect costs.
Realize the importance of making difficult decisions related to finances and start planning.
Begin saving early on in preparation for future costs in areas where there is room for expenses to be cut.
Consider different options for covering costs and keep track of out-of-pocket healthcare expenses that may be itemizable expenses for tax returns.
Search for resources in the community for assistance and ask for help.

Lesson Video

Click here to open video in a new page or click below to play the video.

Contact for Help

Click here to connect with someone for free financial counseling.

Additional Resources

Family Budget What IF Template
Money Management Calendar
Creating Your Budget After Cancer (external link)
Navigating Cancer Care: Financial Resources (external link)
Financial and Co-Pay Assistance (external link)

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