In a first-ever project of its kind, NEFE worked with the American Cancer Society (ACS) to develop a personal finance management program for people with cancer. The 2½-hour program, titled Taking Charge of Money Matters, includes five booklets and a brochure that address financial issues faced by individuals in different stages of cancer.
“The booklets segment the condition of cancer into different subject areas and provide coaching in personal finance so that the patients can deal with the stages of cancer,” Brent Neiser, CFP®, director of NEFE’s Collaborative Programs, said. “This was the first health initiative that NEFE did with a national group, and it still continues today.”
The first booklet, Can I Be Prepared If Cancer Occurs?, provides basic personal finance information for individuals and families who have concerns about cancer. In Treatment, Off Treatment, and Advanced Illness address different cancer scenarios and their respective financial implications—such as developing a financial plan to cover medical costs, rebuilding finances after treatment, or learning basic estate planning.
Coping With the Loss of a Loved One helps those who have lost loved ones as they navigate the financial aftermath, from arranging funeral services to serving as an estate executor. The brochure, titled How to Find a Financial Professional Sensitive to Cancer Issues, offers guidelines on obtaining the appropriate financial advisor.
When the program was launched in 1999, Claudia Bannon, director of Patient Support Programs at the ACS national office in Atlanta, indicated that for years, people attending ACS programs had expressed a need for assistance in managing their finances.
“The [ACS] has been educating people with cancer, and their families and friends … for 20 years,” she said. “We offer education on nutrition, treatment options, pain management, and other topics, but until now, we have never offered patient education in the financial planning arena. We are excited to be able to offer this new program with NEFE’s help.”
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