The average family in the UK would not be able to afford cancer, and could be forced to find hundreds of pounds a month if they were hit by the disease, according to new analysis released today by Macmillan Cancer Support.

Macmillan calculates that the average family is left with around £365 each month after paying for necessities such as bills, food and everyday travel.

But previous research by the charity shows that cancer has an average monthly cost of £570 for the vast majority (83%) of cancer patients.

Working parents with young children are hit hardest by the financial cost of cancer.

The charity warns that an adult being diagnosed with cancer could therefore leave the average British family with a potential shortfall of around £200 a month even if they were to cut out all leisure activities and reduce their spending to bare essentials.

Macmillan warns that thousands of parents could already be struggling with the cost of cancer and the issue will only worsen as almost half the population is predicted to get the disease at some point in their lives by 20205.

Extra costs include travel to and from hospital appointments; an increase in household bills due to being at home more and feeling the cold after treatment; and paying for extra support with help at home such cleaning.

And many people have to cut down their working hours or stop working altogether because they are too unwell resulting in a significant loss of income.

Macmillan, which offers grants, benefits advice and financial guidance for people affected by cancer, is urging people to seek financial help as soon as possible to stop money worries spiralling out of control.

This is particularly important as previous research by the charity shows that more than a third (36%) of people with cancer had no idea that cancer would affect them financially, and a further one in 10 (9%) underestimated the extent that they’d be affected.

It warns that otherwise the average family could be forced to turn to their savings, credit cards, take out a loan or even sell their home to cover the potential shortfall.

Single mum Devry Souayed, 55, from Lancashire, was made redundant from her civil service job a year prior to her breast cancer diagnosis in 2013.

As a result of ongoing treatment she is still too ill to work.

She says: “Cancer has stripped my health and my bank balance. When I was diagnosed, I was focused on getting better for my children, with two still living at home, and had no idea that it would financially cripple me too. I was forced to rely on benefits and my income halved. I've had to resort to drastic measures to keep my family above water, making unthinkable daily decisions over whether to pay the mortgage or put food on the table, buy new school uniforms or to fix our leaking roof. The stress of living on a financial knife edge has made me physically sick. I feel so guilty that my children are missing out on school trips and I’ve had to cut back on birthdays and other treats. My elderly parents help me out financially and I have amazing support from Macmillan but three years on I’m still struggling to get by.”

Macmillan says that there is help available, but people need to know that they can get support and ask for it before financial problems mount up.

Lynda Thomas, Chief Executive at Macmillan Cancer Support, says:

“At a time when thousands of families are struggling to make ends meet, a cancer diagnosis can be the straw that breaks the camel’s back, sending them into financial freefall. We’re talking about families whose world has already been turned upside down and now they’re having to stop going out or spending money on small treats such as toys for their children or magazines. And even then they’re still at risk of getting into debt. It’s got to be a very worrying, isolating place to be. When you’re diagnosed with cancer, the last thing you need to be worrying about is how to pay the bills and keep a roof over your head. But the one thing I would say is that you don’t have to do this alone – there is help out there. At Macmillan we offer financial information and support to help people get back on their feet. Last year we helped 90,000 people affected by cancer unlock £267million in benefits alone.”

Source: Macmillan Cancer Support