What is financial planning?
Financial planning is just what it sounds like - developing a plan to manage your finances. Everyone needs to do this, whether you have epilepsy or not. Yet if you or a family member have epilepsy, looking at your family finances is even more important. You need to think about the financial needs of the person with epilepsy as well as the rest of the family. Figure out priorities, identify gaps, and get help to fill those gaps. Consider this....
- If you have epilepsy and are working, does having epilepsy affect your job and your income? Do you have a backup plan for what to do financially if you can't work?
- What are the resources if you can't work? Are you eligible for disability? Will this meet your needs?
- If your spouse, partner or parent has epilepsy, if they can't work how will that affect the family's needs and financial stability? Do you have a backup plan?
- If your child has epilepsy, how does this affect your family finances? Consider extra care and services they may need. What out of pocket expenses will you have?
- If any family member has epilepsy, does that affect your ability to work? Do you need to take time off to care for your family member? What impact will that have? What additional costs to you will there be?
Why do I need to plan my finances?
- You or someone you love has a chronic health problem.
- It's likely there will be out-of-pocket health care expenses.
- Depending on the severity or type of epilepsy and associated conditions, there may be other health needs.
- Epilepsy and other health problems can affect a person's ability to work and care for themselves. Other services and help may have a cost too.
- Epilepsy can be disabling at times. You may need to find out what resources are available for the family member who is disabled.
- It's important to think about the present, but plan for the future. You may not know what direction or course the epilepsy may take over time.
Where can I find more help?
This section will address the key questions people should consider, tips for financial planning, and resources to help in this process.