Parents turn to borrowing as unexpected costs and time off work take their toll
Parents of children with cancer are struggling to cope financially, with many families falling into debt, a charity warns today.
A survey for CLIC Sargent, the children’s charity, said that the unexpected costs of travel, childcare, food and accommodation while their child has treatment means that 66% of parents have to turn to borrowing to make ends meet.
Three in four (76%) parents say that in addition to the emotional burden they face, their child’s illness has resulted in a “major impact” on their family finances.
Parents and young people told the charity that they spent on average £367 and £277 respectively on cancer-related expenses every month, and with treatment lasting up to three years, the bills soon mounted up.
Three in five (58%) respondents to the survey said they had to reduce the number of hours they worked. A small but significant number (6%) of parents surveyed said they had turned to high interest, short-term payday loans to cope with the additional costs.
CLIC Sargent sought the views of 335 young people with cancer and parents or carers of children with cancer for its report Counting the Costs of Cancer.
It doesn’t have to be like that, there are policies that will pay out on Childrens Critical Illness even if the parents are not covered for CI. For free advice on Childrens Critical Illness Cover