Macmillan Cancer Support likens cancer to a ‘financial wrecking ball’, as cancer diagnoses can result in reduced income, rising household bills and mounting transport costs to hospital appointments. As the charity reveals that one in two people with cancer in London (53%) are severely financially impacted by their diagnosis, new Macmillan data also shows that almost one in five adults in London (18%)– over 1.3 million people[iv] – only have £250 or less in savings, as of September – and one in eight (12%) don’t have any savings at all. Furthermore, one in six of those currently in work in London (16%) say they would be unable to make ends meet within a month of being unable to work.

While people in older age groups – who are most at risk of cancer – tend to have more savings, the new data shows that one in seven (14%) of those 55 or over in London have no more than £250 to fall back on. In addition, Macmillan’s new research shows 58% of people with cancer in London are in work when they are diagnosed. Across the UK, two in five (40%) of those who were in work when they were diagnosed have either since lost their job or left work.

At a time when cancer is at risk of becoming the forgotten ‘C’ amidst the coronavirus pandemic and the charity is facing a significant drop in fundraised income, Macmillan is launching a new campaign, ‘Everyone From Day One’, as it is announced as the new charity partner for the 2021 Virgin Money London Marathon and Charity of the Year for Virgin Money.

Doug, a dad of five from Plumstead who was diagnosed with breast cancer in 2012, explains the huge impact a cancer diagnosis can have on our finances, as well as on our health:

“When I diagnosed with breast cancer in January 2012 after being made redundant, I was so worried about money – how I would pay my bills, put food on the table, keep the house heated. Even the cost of getting to hospital for my treatment sessions really took a toll; I became too ill to drive to my radiotherapy appointments, but my finances just wouldn’t stretch to expensive taxi fares. So when Macmillan gave me a charitable grant for my hospital travel costs, it was a huge sense of relief.

“Financially I was struggling before the diagnosis but the extra burden was almost impossible. However my Macmillan grant was a massive help and cut my worries down at a very stressful period. It was so reassuring to know that Macmillan was right there with me, when I needed them most.”

Cancer can bring unexpected costs such as a loss of income for those unable to work, rising household bills – from extra heating needed to keep warm through treatment, for example, and from being at home more – and mounting transport costs to and from frequent hospital appointments.

Macmillan hopes this partnership will help it reach its goal of being there for everyone facing cancer from the time they are first diagnosed, to help with every aspect of their life from treatment, through to finances, and everything in between.

Calls to the financial guidance team on Macmillan’s Support Line have increased steadily in recent months, with calls answered by the service now 32% higher than during the first month of lockdown.[vii] The money raised by runners for Macmillan at the 2021 Virgin Money London Marathon and through Virgin Money’s fundraising activities will help the charity expand its telephone support line to offer round the clock help when people need it the most and support the professional development of Macmillan’s crucial healthcare professionals.