Dealing with a chronic disease such as arthritis can be difficult. Many of these difficulties are emotional; some of them are financial. That's why managing your money should be a part of managing your health. A good way to get started is to have a financial plan.

How can I plan when everything seems so uncertain?

It's true-you can't predict how arthritis may change your life. If you're working now, you may be able to work for many years to come. Or, you may need to cut back on your hours in the future, find a new job or even quit working altogether. If you are retired, you may not know what expenses to expect in the future. But despite these uncertainties, you can take steps to get your financial life under control so you can focus on managing your arthritis.

What exactly is financial planning?

Financial planning is the process of assessing your financial goals, taking an inventory of the money and other assets you already have to help you reach those goals, and estimating what you will need in the future. Financial planning also includes: 

• Using a monthly spending plan, or budget, to keep your finances on track.
   
• Making decisions about your job and job benefits.
   
• Getting the most out of other financial resources, including insurance and government assistance.
   
• Saving and investing money.
   
• Controlling expenses and staying out of debt.
   
• Planning your estate.

©2001. National Endowment for Financial Education. All rights reserved.

Note: Certain content areas in this material are current as of the publishing, but legislative and regulatory changes as well as new developments may date this material over time. This content is meant to provide general financial information; it is not meant to be a substitute for or to supersede specific professional or legal advice.