Losing your entire income - what would you do?
It's not a question we often ask ourselves. It's not somewhere we really ever want to go, but unfortunately for some families, it's where they've ended up because of a serious or long-term illness or disability.
It can happen to anyone.
Seven Families is a charity led campaign to provide a tax-free income for one year to seven people who have lost their income because of an illness or disability. The organisation aims to highlight the need for people to plan financially in case they become too ill to earn an income and the charity Disability Rights UK are working with seven families where the main breadwinner has been forced out of work by an accident or illness and not received any related insurance pay out.
The campaign has three aims:
1. To raise public awareness of the financial impact of long term illness or disability
2. To help seven real families who are facing financial meltdown
3. To demonstrate the value of independent living support, rehabilitation and counselling, through trying to help get people back to work
Financial planning is the best way to safeguard against the unknowns in life - we never know what's around the corner.
"Of course you'd say that - you're financial advisors", we hear you say.
And we say yes, we are and we're passionate about financial education because along with your health, there is nothing more important than your financial wellbeing, the feeling of being secure or knowing that you will be able to cope with whatever life throws at you. We know what sleepless nights are made of and very often it comes down to financial worry.
So what's Seven Families got to do with this?
We think it's a fantastic campaign and one that we will definitely support in whatever we can.
What can you do?
Have a look at some of the videos and meet the seven families here.
Have a think.
Is there anything you can do to help them, is there anything you can do to help you.
We've just gone through the most unprecendented political and economic change and we don't know what's around the corner for any of us.
Right now, financial education and financial planning is everything.
The DAM Team.