ELI5: Explain Like I'm 5

Financial toxicity

Financial toxicity is a big, scary phrase that means money problems can make you feel really sick, like when you have a cold or a fever. Imagine you have a really bad cold and it's making you feel miserable. Money problems can make you feel that way too.

When someone has a disease like cancer, they go to the doctor to get better. But going to the doctor costs a lot of money. If they don't have enough money to pay for the treatments, it can make them feel even sicker. This feeling like they can’t afford their medical expenses is called financial toxicity.

It is not just about sick people though. People can also feel financial toxicity when they don't have enough money to pay their bills, like rent, electricity, or food. And when people feel this way, it can be really hard to make decisions or do other things they need to do in life because they are always worried about money.

But it's important to remember that financial toxicity can happen to anyone, and it's not their fault. Sometimes it's because of things that are outside of their control, like losing a job or getting sick, and sometimes it's because of the way our society is set up.

Luckily, there are things people can do to feel better. They can talk to someone they trust, like a friend, family member, or financial professional, and work with them to make a plan for their money. They can also look for resources in their community, like financial assistance or counseling, to help them cope with the stress of money problems.
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