If you have been signed off work for several months, or you’ve had to leave your job completely because of ill-health, your finances could take a knock
What starts out as a few days off work sick can turn into a real problem if you have a serious illness. Your company will have a sick-leave policy and you will be entitled to statutory sick benefits, but if you have a condition that means you can't work full-time or indeed, work at all, you could feel the pinch financially.
How ill health can affect your bank balance
Whether you are suffering from a particular illness, or you have been the victim of an accident that has left you unable to work, your finances are likely to suffer. You won't be able to earn the same wage as you did before the illness, and although you will be entitled to various benefits, they may not total as much as you need. It can be hard to suddenly have to live on less money than you're used to – especially if you have a mortgage to pay and a family to look after.
Adjusting your lifestyle
There may be several areas of your lifestyle that need adjustment. If you have been physically injured and find it difficult to walk or climb stairs, you may need to make structural changes to your property. Adding ramps for wheelchairs, or changing the use of downstairs rooms so that you don't have to be moved upstairs are all changes that come at a cost – and if you borrow money to get these changes made, you'll need to have some way of paying back the loan.
In addition, you may need to adapt your car, or pay for a carer to visit on a regular basis. Whilst you can get grants for changes like these, it can take a while for approval to come through, and you may want to get on with living your life as soon as possible.
A solution to health-related money problems
There is a way that you can find the money you need. If you sell your current home, you can raise a lot of cash, which you can then use to buy something more suitable for your needs – a bungalow or ground-floor flat for example. If you have any cash left, you can treat yourself or your family, and put the difficult times behind you.
If you need help to get an easy sale for your property, contact us at Discount Property Auction. We're committed to helping you, whatever your circumstances. If you want to sell your home, you can use our dedicated online auction facility, which allows you to upload your property yourself and put it in front of genuine, interested buyers. Call us now on 0800 1313 999 or email admin@discountpropertyauction.co.uk to arrange a valuation today.