Category: Brandpoint Business & Finance

2019-12-04T07:53:00

(BPT) – Sponsored ad content from Vanderbilt Mortgage and Finance, Inc.

The new year is just around the corner and it’s never too early to think about your 2020 goals — and for many, this means prioritizing finances. Taking the time to focus on your goals and determine what’s important to you financially is the best way to set yourself up for success, but actually following through can be difficult. These easy financial exercises from Vanderbilt Mortgage will help you reach your goals in the new decade.

1. Outline your plan

If you don’t already have one, establish your plan. Write down short-term financial goals, such as creating a monthly budget, and long-term goals, such as paying off a debt or buying a home. Defining these goals will help as you set your budget for the next year.

2. Create a monthly budget

Gather pay statements, bills and bank statements to get started. You can write down all this information or use a budget tool. Start by calculating your monthly income, which includes not only the amount you may get from a regular paycheck, but also any money you get in government aid, child support or pensions. The next step is to look at your bills and bank statements to find out exactly what you spend in various categories of expenses such as utilities, auto, medical, personal, insurance, etc. This accurate information will empower you to take control of your spending.

3. Set a savings goal

Saving is another important aspect of financial health. Whether you’re using a general savings account, adding to an emergency fund, or setting aside funds for a new home, saving for larger financial goals helps you prepare and gives you peace of mind no matter where life takes you. If you’re new to saving, start small. Simply skipping your daily latte from the coffee shop a few times a week can add up quickly.

4. Stick to it

The statistics on how many people actually follow through and keep their New Year’s resolutions are rather bleak, but sticking with your financial goals will pay off. Stay on track by monitoring your progress each week. As you get closer to your goals, excitement will build and you’ll be motivated to keep budgeting and saving.

Vanderbilt Mortgage offers helpful online resources whether you are looking to purchase a new home or keep your current home in great shape. “Here at Vanderbilt, we want to use our years of experience to help current and future homeowners.” Said Eric Hamilton, President of Vanderbilt Mortgage, “Providing educational materials for every step of homeownership is one of the ways Vanderbilt is with customers every step of the way.”

Vanderbilt Mortgage and Finance, Inc., 500 Alcoa Trail, Maryville, TN 37804, 865-380-3000, NMLS #1561, (http://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Loans made or arranged pursuant to a California Finance Lenders Law license, GA Residential Mortgage (Lic. #6911), MT Lic. #1561, Licensed by PA Dept. of Banking.

2019-12-02T07:03:00

(BPT) – Although they’re widely used and an important part of our lives, most people find credit scores confusing. Often, consumers have a lack of accurate information about how and why credit reports and scores are used by lenders. Credit reports and scores allow banks and creditors to determine their risk in lending money to you, whether for a mortgage, car or other loan. Your credit history shows how likely you are to handle your debt responsibly — and pay it back in a timely manner.

Here are some common beliefs about credit scores, and the reality behind them.

MYTH #1: To boost your credit score quickly, leave a balance on credit cards.

FACT: Carrying a balance every month will not build your credit score any faster. What impacts your credit score more is the length of time you’ve held the credit accounts, a low balance and on-time payments. Since carrying a balance means paying interest, it’s better for you to keep balances low or at zero.

MYTH #2: Not using credit cards is the best way to improve your credit score.

FACT: It’s a good idea to keep all of your credit cards active by engaging in a small amount of activity every month or two, and then paying your bills on time. This will improve your history of on-time payments, and will keep more available open credit. Credit scores are often improved by having no more than 30% of your available credit in use at any given time.

MYTH #3: People have only one credit score.

FACT: Many scoring models are used, and they weigh items in your credit history differently. Some scoring models scan your credit report at one point in time, giving a snapshot that’s limited in understanding your overall credit picture. VantageScore 4.0, which is one of the models often used by lenders, is different because it takes advantage of trended credit data newly available from all three national credit reporting companies (CRCs). By capturing the trajectory of borrowing and payment behaviors, trended credit data provides a more precise, holistic view of consumer habits.

MYTH #4: Closing an unused credit card will boost your score.

FACT: It’s better for your credit score to have credit accounts open longer, and having more credit available to you improves your credit utilization ratio.

MYTH #5: Anytime someone checks your credit, the score goes down.

FACT: There is a grain of truth in this myth. If you check your own credit score, however, your score will not go down. When a creditor or lender checks your score, it’s called a “hard inquiry.” One or two hard inquiries won’t affect your score negatively, but several inquiries show you are actively looking for credit, which will lower your score. However, the VantageScore model uses a 14-day rolling window, so all inquiries within that window are considered as one inquiry, regardless of the type of account. It is assumed you’re shopping around for a rate, not necessarily opening up multiple lines of credit.

MYTH #6: If you get married, your credit score is joined with your spouse’s.

FACT: Your spouse’s credit is joined to yours only in this way: if you have joint credit card, loan or mortgage accounts, or if you co-sign a loan for one another, the payment history and available credit on any joint account will show up on both of your credit reports. Any account in just your name or your spouse’s will only show up on that person’s credit report.

MYTH #7: The credit score you check is the same credit score lenders use.

FACT: Lenders may use different models to assess your credit report, depending on the purpose and type of loan or credit. The score you might access to check your own score is not likely the same score a lender might use, and that score might have updated. Use the scores you access online as directional indications of your creditworthiness but understand that ultimately a lender has access to many different scores and information to arrive at a decision.

MYTH #8: Having a “bad” credit score means never being approved for a loan

FACT: While having a lower credit score could mean being turned down for a loan or credit, it’s also possible that you may be approved — but for less desirable terms, such as being charged a higher interest rate or having to pay a security deposit, depending on the type of loan.

Now that we’ve cleared the air on common credit score myths, take the next step and learn how to improve it. Don’t worry! If your score isn’t where you want it to be, it’s never too late to work on it as a personal goal. Listen to The VantageScore Podcast for an intimate conversation with the leaders in the credit industry and understand the landscape of the past, present and future of credit.

2019-11-26T08:01:00

(BPT) – The holiday season is a time to celebrate and spread joy, but while you’re focused on merrymaking, cybercriminals are primed to turn your good times into their good fortune. With a mix of tactics, there’s a lot you should be aware of this season to keep your personal information and finances safe.

Top scams of 2019

What scams are at the top of cybercriminals’ go-to lists? Nearly half (48%) of Americans have been a victim of or know someone who has been a victim of robocalling in 2019, according to a recent McAfee survey, A Christmas Carol: Scam Edition, making it the worst scam of the year.

While cybercriminal activity continues to grow in sophistication, tried-and-true tricks of the past continue to steal from well-meaning Americans. Survey respondents reported being targeted with email phishing (41%) and text phishing (35%). These, along with robocalling, are the top three prominent scams of the year. Together, they are taking a financial toll, with 74% of respondents losing more than $100 and almost a third (30%) losing more than $500.

Scams poised to increase this holiday season

Retail risks: While traditional scams like robocalling continue to pay off for criminals, that doesn’t mean they aren’t trying more sophisticated methods as well. The growing trend of personal online accounts for retailers is a big opportunity for thieves. In fact, more than 2.2 billion stolen account credentials were made available on the cybercriminal underground over the course of Q1 2019.

App information: As people use their devices and apps for everyday tasks like holiday shopping and movie streaming, they are sharing more personal information than ever before. By targeting popular consumer apps, cybercriminals are able to collect and store key data that can be used for malicious activity in the future.

Fake gift cards: A new trend that is poised to take off this holiday season is phony gift cards, which people are purchasing only to realize there is no money on the card they are providing to loved ones. The survey found that not even half (43%) of respondents are aware of bogus gift cards, meaning it’s something to be keenly aware of this season.

How to stay safe this holiday season

Numerous threats new and old mean that the 2019 holidays could be the most dangerous yet. However, with a little proactive effort, you can help ensure you keep your holiday merry and bright and protect yourself from scams.

Step 1: Never reuse passwords
If cybercriminals hack your one password, they can use it to access multiple accounts. Use unique passwords for each account you create and update passwords regularly.

Step 2: Click with care
If you see an offer in an email that seems too good to be true, it just might be. Instead of clicking on a link in an email, check directly with the source to verify an offer or shipment.

Step 3: Browse with confidence
Use comprehensive security protection, like McAfee Total Protection, to protect devices against malware, phishing attacks and other threats. It includes McAfee WebAdvisor, which identifies malicious websites so you can shop online with confidence.

Step 4: Protect personal information
An ounce of prevention is worth a pound of cure, so consider a proactive solution like McAfee Identity Theft Protection that provides personal and financial monitoring and recovery tools to help keep identities secure.

2019-11-18T17:43:00

(BPT) – How do I plan for a comfortable retirement? This question is top of mind for many Americans. Yet how to afford that dream retirement remains a mystery to most. According to The Employee Benefit Research Institute’s 2019 Retirement Confidence Survey, only 42% of working-age people have tried to calculate just how much they need to save to live comfortably in retirement.

But “how much money you need to retire” is not the only question you should be asking — and not even the initial one. There are a few key questions you should consider first to help determine what “retirement” means to you, which will help paint a clearer picture of that magic savings number. Before you pull out your calculator, consider these questions:

1. Have you considered a “second act” career in retirement? According to a recent Charles Schwab survey, more than 40% of people within five years of retirement said they want to continue working in retirement. Whether you’re scaling back hours at your current job, planning to embark on a new career, or pursuing a passion project, this has some palpable advantages when it comes to retirement planning. Along with the benefits of staying active, by continuing to earn a paycheck, you mitigate the need to deplete existing savings.
2. Would you rather take “mini-retirements” and postpone long-term retirement? While most people still envision retirement as a point later in life when they stop working altogether, the idea of taking time off from work for extended periods — to travel, raise a family or simply take a break — at various life milestones is becoming more common. If this sounds appealing, it will require some diligent planning and saving along the way and will impact the way you think about saving for a traditional retirement down the road.
3. How important is it to leave a financial legacy? Ask yourself, would you rather spend every penny or leave money to family, friends or a charity after you’re gone? This answer will impact your financial decisions in retirement. Estate planning isn’t just for the ultra-wealthy — most people should create a basic estate plan, including a will that outlines how you would like your assets to be distributed.
4. Do you and your spouse or partner have the same retirement lifestyle vision? If you are in a relationship, it’s a good idea to get on the same page when it comes to retirement. Do you want to be active? Are you planning to stay in your current home or retire elsewhere? These questions will not only help determine how much you need to save, but also can inform whether you will merge your finances or keep some separate to meet differing goals.
5. Do you have a plan for funding your retirement once you decide to tap your savings? You’ve spent most of your life saving, so before flipping the switch, make sure you have a plan in place for how to make those savings last. To do this, consider consulting a professional to create a retirement income plan and start with the basics:
   • Choose the right mix of conservative and aggressive investments to provide diversified sources of return.
   • Determine how much you need to withdraw on an annual or monthly basis.
   • Learn about products and services designed to help manage and deliver retirement income.

For help thinking through these questions, you can visit a Charles Schwab branch. Schwab has also created a card game called “The Next Chapter” with more retirement questions to explore.

Disclosures

Investing involves risk, including loss of principal. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

The information provided is not intended to be a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner or investment manager.

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2019-11-18T08:01:00

(BPT) – Most people would like to follow their life’s passions when exploring ways to supplement their incomes, but it can be hard to find those meaningful outlets — and earn any income at the same time. For one dog lover in Stratford, Connecticut, her tremendous love and affection for the dogs in her life led her to a side job she hadn’t anticipated.

Five years ago, Monica Kolbusz was coping with the anxiety, distress and considerable expense of caring for her beloved Pomeranian, Sheila. Her dog was battling lung cancer, Lyme disease and a tumor on her paw. They were in and out of the vet’s office for countless appointments, surgeries, a special prescription diet and medication. While the vet bills piled up and she continued to spend more time and energy providing the love and attention her aging furry family member needed, her friend came up with a great suggestion. She said that maybe Kolbusz could use her years of experience caring for dogs to become a dog sitter, to earn some cash to help pay for Sheila’s mounting medical expenses.

Kolbusz decided it was a great idea to use her love for and experience with special needs dogs to work part-time, on her own schedule. She signed up to become a dog sitter on Rover.com, a network of over 300,000 dog walkers and sitters across 32,000 U.S. cities for both dogs and cats. Before long, she became sought after by clients for her ability to care for dogs who needed special attention, including senior dogs, dogs with medical needs and even puppies — because they demand a lot from their humans, including plenty of attention and exercise. Some clients needed help with boarding pets while they were away on vacation, while others wanted someone to come into their home to provide daily walks, short visits for feeding and attention, or hours of care per day. For busy people who can’t always give their furry companions as much attention as they would like, Rover is a trusted solution that helps match pet parents with experienced and dedicated walkers or sitters in their area. And for Kolbusz, it meant setting her own flexible schedule as well as her own rates. The extra income Kolbusz receives by providing services on Rover allows her to financially be able to adopt rescue dogs that have medical needs or require a special diet without having the stress of not being able to care for them.

Before long, Kolbusz realized that being a dog sitter was very satisfying, since she was able to use her genuine love for dogs in a way that really helped their human families. She began to expand her home-based work to include volunteering at a rescue agency, so she could foster dogs along with her own canine companions and the Rover clients’ dogs that she was caring for — which provided a bonus she didn’t expect.

Caring for clients’ dogs in her home, along with her current rescued Pomeranians named Jimmy Choo and Misiu, also helped to socialize the rescue dogs she was fostering. Having the experience of being around other dogs as they were receiving expert care and attention from Kolbusz helped the entire household learn how to get along well. This work continues to build her own confidence in the skill, talent and passion she has for helping senior and special needs dogs to thrive. One of the unexpected benefits she found through her work as a dog sitter was rescuing dogs, like her current Pomeranian, which is something she plans to continue to do as she gets future furry family members.

Sitters on Rover include a wide range of individuals who love dogs and cats, ranging from college students and stay-at-home parents to retirees and more. Many, like Kolbusz, specialize in a particular area or type of care clients may need for their pets.

If you want to explore a part-time opportunity where you can share your love of animals, check out Rover.com/become-a-sitter/.

2019-11-13T08:49:00

(BPT) – As time and technology reshape the workforce, most professionals are not in the position to choose one career or one track and stick with it until retirement. Nursing offers relevant, future-focused opportunities for people of all ages and levels of experience, from those re-entering the workforce or making a career change, to registered nurses pursuing further education. Below, you’ll find for four key reasons students are pursuing licensure or a degree in nursing (RN to BSN and beyond), shared by Dr. Bonnie Stegman of Maryville University.

1. Satisfaction

If you are interested in making a direct impact on the lives of individuals and communities, you should consider nursing. It’s a rewarding career, according to nurses themselves — 83% say they are satisfied with their career choice. Many find the job fulfilling on a personal level as caring for others is a hallmark of the profession. Nurses provide a great deal of personal contact and engagement with patients, a traditional role that has only become more important in today’s often-hectic healthcare environment. At the same time, nursing is an exciting and expanding field with new areas of focus and settings in which to practice. You have more options than ever before to pursue your individual interests and work at the cutting edge of healthcare.

2. Wide-ranging opportunities

Nursing often is associated with foundational healthcare settings such as primary care practices, hospitals or nursing homes. However, nursing offers many different paths to build and develop the specific track that’s right for you. It includes many different specialties, including areas relevant to our aging population, such as gerontology (focused on elderly patients) and genetics (patients with or at risk of hereditary diseases). You also can specialize in public health, working in nonprofit organizations, community health centers or governmental agencies. Across specialties and settings, you also can build on your experience caring for patients and transition into other areas, serving as an administrator or an educator, for example.

3. Flexibility

The array of options and opportunities available within nursing means that you can pick what best fits your needs and preferences. For example, if family responsibilities mean you need to keep a 9-to-5, Monday-Friday schedule, some primary care or specialty practices can accommodate that. Through telehealth, you can provide patient care and education remotely, potentially creating opportunities across geographic areas and time zones. If you’re open to moving around, you might find work as a traveling nurse to be an interesting — and usually well paid — choice. And, this flexibility means you can adapt and shift your focus as you move through different stages and phases of life.

4. Demand and compensation

Nurses are in high demand nationwide, a trend that shows no sign of slowing. That means you can expect competitive salaries and benefits. You’ll even find that employers are getting creative in how they recruit and incentivize new hires. Mercy Children’s Hospital in St. Louis created a seasonal staffing option, where nurses can opt to work a full-time schedule from September to June, then take time off in the summer months while retaining their benefits — and a guaranteed job in the fall. It’s a valuable offering for anyone with childcare considerations. Other employers are providing financial incentives such as signing bonuses and tuition reimbursement. It’s an environment ripe with opportunity.

Make it happen

Once you decide to pursue your licensure or earn a nursing degree, you have a variety of educational options. It all starts with finding a program that offers a realistic path for your existing schedule and responsibilities.

Online programs typically are designed for flexibility. The online nursing offerings at Maryville University, for example, include an RN to BSN program with multiple start dates throughout the year that can be completed 100% online to help students balance work and school commitments. You also can find flexible options in on-campus programs as well. In addition to programs for full-time and transfer students, Maryville’s on-campus nursing options include a part-time evening and weekend program designed for working adults.

As our population ages, career options in healthcare are predicted to expand and grow. Nursing is worth considering — a resilient and wide-ranging career field with significant opportunities, now and in the future.

2019-11-11T08:15:01

(BPT) – Whether it’s your first child or you’ve been around the baby block a few times before, having an infant in your life is an unforgettable experience. While there are countless joys you’ll cherish forever, there are a few challenges you’ll likely face along the way, too.

Savvy parents are always looking for tricks to save time and money while helping them be better caregivers. These six simple hacks will make you feel like a superstar parent while giving your little one the best:

Fast and tidy diaper changes

Wiggling legs can make fast messes, especially when it comes time to change the diaper. To make diaper changing quick and easy, try placing a clean diaper on the changing table before laying your baby down on the table. Remove the diaper tabs, clean your baby up and pull away the dirty diaper and instantly you have a clean diaper ready to go. You’ll save time and consolidate messes in the process.

Clean stroller travel

Saving your back and making travel smooth and easy, a stroller can take you and your baby anywhere from the park to the mall and beyond. However, with those adventures comes all the nasty dirt, grime or worse that gets on the wheels. Before putting your stroller in your car for transport, place shower caps on the wheels of your stroller. Your car will stay nice and clean no matter how messy those wheels are.

Save money on essentials

Babies need many things and that cost adds up fast. Shopping sales and using coupons is a good start, but you can save even more money without sacrificing quality by looking for store brand items like diapers, wipes and infant formula. Store brand infant formula is the ultimate parenting hack because they offer the same complete nutrition as the big-name brands but can save families up to $900 a year.*

*Retail prices from October 2019 retail price survey of assorted stores. Actual prices and savings may vary.

Streamline bath time

A warm baby is a happy baby, and what parent doesn’t want to see their little one cozy and cooing? While you’re bathing baby, have someone place a towel in the dryer for five minutes. Remember to never leave your child alone in the bathtub, so you’ll need a partner or older sibling to do this. Once the dryer is done, have them bring you the towel so you can wrap baby in warmth right out of the water. You’ll never see tears from a post-bath chill again.

No more noisy toys

Kids are noisy. Kids’ toys that make noise can add to the commotion. Those loud bings, bells and songs can test even the most patient parent. When children are done using noisy toys, cover the toy’s speaker with tape to avoid any excess noise. This also works if a toy is particularly loud and could use a bit of muffling, even on the low setting. A small piece of tape lessens the noise so baby can still enjoy without Mom and Dad getting a headache.

Stay informed

Knowing what’s best for baby is a combination of using your instincts and staying informed. Having quick resources for getting useful information about important topics like health, nutrition and savings can give your parenting game an edge. For even more tips on all things feeding baby, check out the latest MommyMD Guide to Feeding Your Baby Right and bookmark storebrandformula.com as a resource to help make the wild ride of parenting a little bit easier.

2019-11-06T08:01:00

(BPT) – While death is a difficult subject to discuss, it is something for which we all must prepare. If something happens to you, are your loved ones able to carry on financially without your income? Could they afford to continue making payments on the family home? Would your children’s dreams of attending college be impacted?

Supplemental life insurance can help protect your family’s current and future way of life by helping provide greater financial security and peace of mind. Understanding consumers’ evolving individual needs in seeking the right life coverage, Aflac recently launched new life coverage that includes three important benefits.

Reaching more groups

To help make it easier for more people to apply for life coverage, a simplified underwriting option with fewer personal health questions to answer is available to businesses with as few as three employees. And there is a guaranteed-issue option for qualified employers with as few as five workers, which means employees can forgo the need for a medical exam to get coverage.

In an expansion of Aflac’s growing first-responder benefits portfolio, Aflac’s new life coverage has an optional benefit rider that helps provide financial protection and added peace of mind for public servants, who work hard to keep Americans protected.

Advanced claim payment

After a loved one passes away, the last thing a family should have to focus on are the bills. To help with immediate final expenses such as a funeral and burial costs, Aflac may advance a portion of the policy’s proceeds upon notification from the beneficiary.

Appealing living benefits

Going beyond the traditional benefits provided after one’s death, Aflac’s life coverage also offers partial benefits that can be paid if an insured is diagnosed with a terminal illness to help with long-term care, home health care needs or however one chooses. Other living benefits are available under additional insurance riders to help insureds should they experience a qualifying chronic condition to help manage immediate care costs.

When someone is depending on you to help protect their financial security, know that you can “Count on Aflac for Life.” Get to know more about life coverage at Aflac.com/LifeInsurance.

Coverage is underwritten by American Family Life Assurance Company of Columbus. The information provided is a brief product overview only. Coverage may not be available in all states including but not limited to AZ, ID, NJ, NM, NY, OR, PA, TX, and VA. Benefits and premium rates may vary based on age of applicant and plans selected. Optional riders are available at an additional cost. The plans have limitations and exclusions that may affect benefits payable.

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2019-11-06T08:01:00

(BPT) – It’s here again — that time of year when everyone seems to unwittingly pass colds and other illnesses around. As every parent knows, kids can bring germs home from school and share them with the entire family, spreading illness at warp speed. In fact, 60 million school days are missed every year by children nationwide due to preventable illnesses like cold and flu.

What can you do to fight the spread of illness and help keep your kids — and you — healthier during cold and flu season this year? It’s all about practicing healthy habits and making sure you have the right tools. Lysol’s Here for Healthy Schools campaign is working with schools, educators and parents to help reinforce healthy practices and curb the spread of illnesses in the classroom.

As part of the program, Here for Healthy Schools spokesperson, actress and parent Sarah Michelle Gellar shared five tips for keeping your kids healthy during cold and flu season, and beyond:

1. Model healthy habits

“Your children pay closer attention to smaller things than you’d expect,” says Gellar. She advises modeling the habits you want your children to follow. Demonstrate how you use a tissue to cover your mouth and nose when you sneeze. And be sure that they see you washing your hands often, especially before eating a meal. Actions do speak louder than words, so practicing what you preach can go a long way to instilling these healthy habits in your kids.

2. Reinforce healthy habits with caregivers

Gellar explains how important it is that caregivers and others who spend time with her children follow the same healthy habits she wants to teach her children.

“I truly rely on my village to help me,” says Gellar. “This means my children interact with many different people within their day-to-day activities, and inevitably come in contact with even more germs.”

She makes sure everyone who spends time with her children understands the vital role these healthy habits play in helping to avoid preventable illnesses.

3. Involve kids in preparing healthy meals

“Food is so important in our family,” says Gellar. “Most of our fondest memories take place in the kitchen.” By making her children part of the process of planning, preparing and serving meals, she stresses, they are constantly learning not only how to eat healthy, balanced meals, but also how to create one for themselves.

4. Get a flu shot

Gellar insists that everyone in her household get a flu shot each year, at the beginning of flu season, to help her family stay flu-free throughout the year. This also helps prevent spreading the flu to anyone else who might be vulnerable.

5. Keep kids home when they’re sick

“While we want to limit the number of days out of school for children to ensure they’re thriving and growing,” Gellar explains, “it’s important as parents to understand when to keep them home.” Because colds, flu and other illnesses are easily spread, sending children to school when they’re clearly under the weather will likely lead to more children in the classroom getting sick and missing school.

Following these healthy habits will help keep everyone’s sick days to a minimum this year, so children can learn, grow and thrive at school.

2019-11-04T23:01:00

(BPT) – The rising cost of cancer care affects virtually every patient undergoing treatment for cancer, including patients who have health insurance. The Leukemia & Lymphoma Society (LLS), a global leader in the fight against cancer, has found that patients experience the financial burden of cancer care for many years following diagnosis, as survivorship typically involves continuous treatment and follow-up care.

Marialanna Lee, VP Public Policy for LLS, oversees the organization’s Cost of Cancer Care Initiative, which urges all of the stakeholders in the healthcare system to work together to bring down the unsustainably high cost of cancer care. LLS’s Office of Public Policy advocates for cancer patients at the federal and state level, to ensure that patients have access to meaningful health insurance coverage so that they can afford the costly treatments necessary to survive a cancer diagnosis. Lee hears firsthand stories from patients about their struggles with the high cost of cancer care.

“Too many cancer patients are forced to make life-or-death treatment decisions based purely on the cost of their care,” says Lee. “When cancer patients are fighting for their life, the last thing they need is financial distress.”

According to Lee, for anyone dealing with cancer, it’s important to consider the following factors when navigating the complexity of accessing treatment and managing the many costs encountered along the way.

Getting a second opinion can have a positive impact on not only your treatment plan, but on your wallet too.

Even if you have health insurance, it can be helpful to gain a second opinion not only to inform the best course of care, but to avoid the potential for side effects and added costs that may arise from treatments not well suited to your needs. To help you investigate the options that may be available to patients and their families, LLS offers emotional, educational and financial support, including co-pay assistance and help finding and enrolling in clinical trials. To learn more, visit www.lls.org/support/financial-support.

To learn more about the challenges patients face and what LLS is doing to drive change, please visit www.lls.org/cancercost.

The financial impact will likely extend to your caregiver and maybe even other family members.

For many patients, caregivers play a crucial role in helping to navigate a life-altering diagnosis like cancer. Along the way, caregivers will likely encounter a range of physical and emotional demands, and the financial cost of caregiving can take a toll as well. Caregivers may be hesitant to seek help for themselves and may be unaware of the many resources available to them. LLS provides free resources and support services for caregivers, including financial assistance.

You can be an advocate for change.

Your voice as a patient or caregiver is invaluable, as it can help shape discussions about the cost of care and the importance of access to meaningful health insurance coverage. Whether you act as an individual or part of an effort organized by a patient advocacy organization, you can make an impact by sharing your story about the financial hardships you’ve experienced. These firsthand accounts are vital for spurring action.

To learn more about LLS Advocacy and how you can raise awareness about the cost of cancer care and its impact on patients and families, visit www.lls.org/policy-advocacy.