Money and cancer: what’s the deal?

A prostate cancer diagnosis can bring unexpected financial pressures – but there’s plenty of support available to help you manage your money worries.  

Here, Zoe Winters, a Maggie's benefits adviser, explains some of the steps you can take to keep on top of things. Her goal is simple: to ease your concerns, so you can focus on your health and recovery. 

Find out what support you're entitled to

Many people who are living with cancer have no idea what support is out there for them, so they often don’t get the help they’re entitled to. Plus, it can be hard to focus on the emotional and physical impact of cancer when you’re worried about money.  

That’s where we can help. At Maggie’s, we provide useful information and practical support with accessing benefits and grants, making claims and filling out forms, managing debt and housing issues. And much more too.  

The benefits system can be really confusing, especially when you’re dealing with a cancer diagnosis. It’s worth speaking to us as soon as you can. Even if there’s nothing you’re eligible for, it’s always worth checking. You might be entitled to certain types of support in the future. 

You might be feeling like you want to get back to work as soon as possible after your treatment – especially if you’ve got a mortgage or you’re self-employed. You might be thinking: when should I tell people at work about my diagnosis, if at all?  

We can help with these sorts of issues too. Benefits will never match a full wage, but our aim is to get you some support, so you can focus on your recovery for longer.  

Last year at Maggie's West London, we were able to access over £4.5 million in financial gains for people with cancer – from things like universal credit, personal independence payments (PIP), attendance allowance and grants.

A recent report showed that financial support for people with health problems saves money elsewhere, and lessens the burden on other services like mental health, social services and the NHS as a whole. 

Managing the hidden costs of cancer

The financial challenges come mainly from loss of income, if you’re unable to work. So one of the first things you can do is check what insurance policies you have. You’d be surprised how many people forget they’ve got some sort of health insurance – especially if they took it out decades ago.  

You may also find there are costs connected with your treatment – whether that’s buying medical products, travelling to the hospital, or simply being at home more than normal and using more heating and electricity.

This can bring a financial strain that you might not have prepared for. But there’s support available for ongoing costs, like attendance allowance if you’ve reached pension age, as well as help with utility bills.  

It’s also a good idea to check if you’re eligible for any free travel entitlements. It’s easy to forget to apply for your bus pass, but it can save you a lot of money if you’re going to the hospital a lot. We can also help with an application for a blue badge, which can be especially useful if you have to drive to the hospital. Some hospitals offer free parking for treatments like chemotherapy, but not all.  

Friendly support – in person, over the phone or on screen

You might be referred to one of our centres by your doctor, someone at Macmillan or a Prostate Cancer UK Specialist Nurse. You can pop in when you’re visiting the hospital for appointments or treatments. But you can also call us, or explain your situation in an email, if that’s easier for you.  

If you pop in to see us in person, you’ll be able to have a chat over a cuppa with a cancer support specialist. They’ll ask you some questions about your situation and talk you through our various services and support groups. If you don’t speak English, or if English isn’t your first language, your hospital can provide a translator to come with you too.  

You don’t need to prepare anything. We always say, “just come in”, and we’ll see what support you might need.  

Working at Maggie’s is really rewarding. I get the chance to build good relationships with people. And because our cancer support specialists and psychologists are in the centre as well, we can all work together as a team. 

Money worries and prostate cancer

With prostate cancer, there can be quite a lot of variation in terms of people’s circumstances and experiences. If you’re having hormone therapy, for example, you might not need to take time off work. But it’s a different story if you’re having surgery, chemotherapy or radiotherapy.  

I remember one man, Ray, who came in to talk to us. He didn’t want treatment. He was worried about dealing with the side effects while living in temporary accommodation. We got him assessed and moved into sheltered accommodation. He had treatment and he’s doing great now.  

Help with budgeting and referrals

We provide basic debt guidance and support around employment rights. And some people ask us to help them with staying on top of their finances while they’re going through treatment or taking time off, so we might look at what you’re spending money on and help you with budgeting.  

We do a lot of referrals too. For example, if you have a question about your pensions, we’d refer you to Pension Wise, which is government-backed – although we can explain how any changes you make might impact your benefits.

Usually, people know what they want to do with their money. But we always say it’s good to talk things through with an independent FCA-regulated financial adviser too.  

Looking for more information about the physical and emotional effects of prostate cancer, as well as practical issues? Have a look through our Living with and after prostate cancer booklet, and visit maggies.org to find out more about how they can support you.