Easing the financial stress of cancer with a financial plan
Fighting colon cancer in her 40s, going through a divorce simultaneously, and facing a very uncertain future, Barbara Majeski is a survivor.
Known as a curator of the good life, Barbara Majeski is a nationally recognized TV personality and lifestyle expert with regular features on the TODAY Show, Inside Edition, Good Day New York.
However, Majeski's career on television started after her fight against cancer. Always wanting to pursue a career in TV, she had vowed that once she kicked cancer, she would turn her pain into purpose and pursue this dream. And she did it. Majeski created a business to inspire other women to make their best lives through accountability challenges, using stories to help others, public speaking, and showing up to support other women.
Majeski is also "Baring It All" with her signature podcast and clubhouse rooms, where she shares the grit behind the glamour. She helps her community see the truth behind all the scenes where she engages in productive yet funny dialogue with celebrities, entrepreneurs, and visionaries. She's not afraid to be raw, honest, and transparent, as she draws the same from her interviews.
Through her struggles and challenges through her personal life and in her business, the one person who remained a constant inspiration to her is her older brother with special needs. She recognizes that her brother will always require care, and it is vital to have a solid financial plan to ensure stability throughout life.
Any illness can put anyone at financial risk. Types of illnesses such as cancer leave you unable to work as you fight this disease. You need to be financially prepared to navigate life’s unexpected events. Don’t be taken by surprise.
Good financial habits to create to protect yourself should you ever have to battle cancer:
1. Live within your means
The easiest way to stay out of debt is to spend less money than what you bring in. Too often, people are tempted by instant gratification and buy now, pay later plans, but the best financial habit is if you can't pay cash for it now, then don't charge it.
2. Stay out of debt
Debt is expensive, especially credit card debt with high-interest rates. The best practice is to keep debt levels low and doesn't overleverage yourself. Too much debt leads to bankruptcy.
3. Have an emergency fund
It is a sound financial practice to have an emergency fund of six months to cover all living expenses. This way, if you are faced with a medical emergency, you have some savings to protect you and carry you through a few months of dealing with bills and insurance companies stress-free.
4. Insure against risks
Having medical insurance and critical illness in your financial plan is vital. Should you get a diagnosis, it brings immeasurable peace of mind knowing that you can make your health a priority and not worry about finances and bill payments. Your energy needs to be focused on your health.
The bottom line is that life is unpredictable, and although you may think that will never happen to you, you need to live as though it may. You are protecting yourself against the what-if of life will dramatically reduce financial stress if you ever battle an illness.