Need to economise…

Mamma66. Also, the energy bills are rocketing, so watch how you can economise there too. Don’t forget the charity shops, should you need to buy clothes, as they generally only sell goods of good quality these days. Incidentally, we have separate accounts, plus a joint account for household expenses. Maybe you’re in the minority WonderfulLife?
I hope your health continues to improve Mamma66. 💐

I have married friends with separate bank accounts. They've been happily married for decades.

Mamma was simply asking for advice following a serious illness, she was not want you to be judgemental!

WonderfulLife, not everyone thinks like you - this post along with your previous ones are very opinionated.

WonderfulLife, what is so strange about having separate bank accounts ? I was married for 54 years and we always had our own accounts.

I found that what helped methe most financially was gettingmy mortgage paid off.. then I had the knowledge that if I got into financial difficulty I always had the possibility of taking out equity release.. although I am widowed I also find it perplexing that you don't feel this is a joint and equal responsibility with your husband..

I just realized I have assumed you live in the UK, if you don’t my comment won’t apply of course. I hope you return to full health soon.

I m a bit confused when you say MY savings have reduced dramatically and you don't want to put pressure on your husband. Do you mean that you and your husband have seperate bank accounts.

I honestly find that awful, my late husband and I had joint accounts from the day we became engaged until the day he died. He was ill for eight years before he died and had to take early retirement, 5 years before his state pension was due and we were not allowed Attendance Allowance as they said my husband was not ill enough (but when we finally got it, my husband died three months later).

We used our joint savings to pay for everything, wheelchairs, urinals, walking sticks and frames, stair lifts and nebulisers because the NHS provided them at first but then wanted them back and because we had money in the bank we could not claim benefits.

Why can't your husband help you out, surely you are a partnership and should be supporting each other.

My mind boggles when I read about married couples having their own accounts.

My daughter-in-law of 31 years was diagnosed with breast cancer in May last year, it is inoperable and has caused lymphedema in her right arm and hand. She has been unable to return to work as she cannot yet drive, write or use a computer. I persuaded her to ask McMillan if she is entitled to any benefits, she was resistant at first as she has worked since she was 16 but after her chemotherapy she did enquire and she found she could claim PIP which isn’t means tested; her claim was approved and she began receiving payments just before Christmas. I suggest you look into this as it could make a difference to your financial situation.

Thanks Karmalady, that’s really sensible advice. I think writing everything down will be a really good step, as normally if I want or need something I don’t have to worry too much. It is definitely easy to spend money without giving it too much thought if you’re in the fortunate position of both working full time. I also agree about having a financial safety net, that’s the only reason we’re not in trouble as we both put aside savings and I have been on reduced pay for a while. Batch cooking is definitely a good way to go, and will also make life easier whilst I am recovering anyway. Thanks 💐

You will need a list of essential outgoings such as rent/mortgage etc. Add those up and keep that money to one side. Then look carefully at what the remainder of your income is being spent on, a small notebook helps and that can be an eye opener.

As always it is about making do ie no buying clothes for now, batch cooking from scratch etc. Definitely no impulse buying of anything. You will have a much clearer picture once written down and you see it in black and white.

It also depends on how long you will be in this situation but a number one priority, when you can, is to accumulate a financial safety net for any future blips