What My Mother’s Illness Taught Me About Personal Finance

When my mother became ill a few years ago, I did what all adult children usually do: worry and think, “She has to be OK! She’s the parent.” Finances, however, didn’t enter my mind.

It was interesting to note that my parents – level-headed as always – remembered to consider the financial repercussions of Mom’s illness as well as the health repercussions. Because of that, their finances were able to weather the upheaval that an illness can cause.

Finding the best deal: It may seem unthinkable to “shop” for a doctor and treatments when facing a major illness, but that is what my parents did. Cancer is a tricky disease because one never knows

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5 Responses to What My Mother’s Illness Taught Me About Personal Finance

  1. Monkey Mama says:

    I am so sorry for your loss. This was a great post though.

    Disability insurance, GOOD health insurance, life insurance, wills, POAs, and emergency funds are important to put in place when you are healthy and life is going well. These things can at least help lessen the blow. As you mentioned, there was a lot of costs to consider beyond simply medical costs.

  2. nance says:

    I’m sorry you and your family had to go through this, but glad that they were prepared.
    Your message will probably encourage many people to get ready for the unknown.

  3. shawn says:

    Im sorry, I hope your family can go thorough this.

  4. Jackie says:

    Excellent post, wonderful advice for all people to keep in mind just in case the unthinkable happens.

    I’m the youngest at 31, but I still don’t really think of my parents as getting older. This last summer, my mother went down to the bank and had my oldest sister and I given permission to access their accounts in an emergency. This way we can pay bills for them if anything catastrophic happened to place them both in the hospital at the same time. It really brought home to me that we’re all getting older and even though they’re in good health, we still have to think about these things.

  5. asmom says:

    You forgot one crucial aspect of keeping down healthcare costs: health maintenance and regular check-ups. You wouldn’t believe how many people do not follow-up with regular healthcare and doctor’s recommendations for testing and prevention. They usually end up in the hospital when it could have been prevented. Just another way to look at things.

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