Budgeting during treatment
Many people find cancer brings extra financial demands. Often income decreases while expenses increase.
Many people find cancer brings extra financial demands. Often income decreases while expenses increase.
We know that making a new budget may seem time consuming or stressful on your own. Here are some tips to get started or if you want to talk to someone about creating a budget, we can connect you to someone who can help.
How do I make a budget?
A budget is a record of all your income and expenses. Following the steps below, you can get a clearer picture of whether you need to make changes, and where you can make them.
Step 1: List all your expenses
Tip: Use your bank and credit card statements as a guide
Step 2: Calculate your total income after tax
Managing your bills
Young people and families facing cancer often tell us that keeping up with bills and other payments is extremely difficult, especially when they’re focusing on getting through cancer treatment. If you think you’re struggling to meet bill payment deadlines or may have fallen behind, there are things you can do.
Apply for financial hardship
Some companies may extend payment dates or lower bill costs for people experiencing “financial hardship” (which means involuntary, short-term difficulties covering living expenses). When contacting a company about a bill, you may want to ask some financial hardship questions, such as:
Extending or reducing bills
Another option is to ask for an extension or reduction. Here are some questions you can ask:
Managing home loans and other debts
Like bills, mortgage and other loan repayments can also be a source of financial stress for young people and families facing cancer. If you think you may not be able to cover your mortgage payments during cancer treatment, a good first step is to contact your home loan provider and let them know of your situation. Some home loan providers can offer:
It’s also a good idea to talk to the companies managing any other debts you might have (such as car loans or personal loans to find out if they have any payment options to help in you situation.
Request information And support
We’re ready to help. Please call us on 1800 REDKITE (Mon – Fri 9am – 7pm AEST), or fill out the form below.
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