Financial security is a sensitive subject for most of us. Factor in your chronic condition and sadly, your circumstances can change greatly. Chronic conditions can have damaging, even catastrophic, financial effects. It’s a complex set of circumstances we find ourselves in. The financial hit of being sick jeopardises the managing of your condition, as a result, your economic hardship requires you to make difficult decisions between care and basic living expenses. The ability to take care of yourself, manage your condition and reduce the chances of becoming more ill is compromised greatly when you must stay on top of the finances, too.

So how do we cope, manage, and stay the course without the option of a massive windfall from a long lost relative?  How do we focus on mitigating depression and anxiety and any other bumps which can derail our focus from our health to our wealth? It is possible. We have been there, sifting through the stacks of bills and attempting to navigate the quagmire that is the healthcare, long-term disability, and unemployment systems while raising a young family.

We will explore how to cope with the anxiety that will come, and help you come to terms with your financial health, too. Perhaps there are options which you’ve not considered and we can help you decide if your financial plan will be one of survival– getting through tough times until you’re able to work again or help you to find sustainable, long term alternatives to your current employment situation. Finally, we will look at your mentality toward your finances. Ideally, when it comes to the money coming in, the money going out and how money ties in with your value systems should all be aligned.

5 Ways Long Term Illness Affects the Meaning of Money

What did money mean to you before chronic illness compared to now? Financial issues are a focal point for many of us. We all rely on it for both survival and enjoyment. However, chronic illness not only compromises your ability to earn money but can also alter the meanings you attach to it. Identifying these meaning shifts can help to realign priorities, as well as adjust expectations in a way that matches your circumstance. Let’s look at six value shifts which can occur during chronic illness and change our perception of money. 

1. Survival

Most of us require money to put a roof over our heads and food on our plates. However, your survival needs become even more contingent on money when you have a long-term medical condition. Without a healthy diet, comfortable environment, medication and access to technology, your ability to manage your condition become far more challenging. Your ability to prioritise these needs and budget for them is paramount.

2. Belonging

Our ability to belong to a community can often rely upon keeping up with the spending of those around us. This has been especially true in Western society. We aim to live in homes, drive cars, wear clothes and go to entertainment venues similar to the ones that those within our inner circle seem to enjoy. However, life-changing events such as chronic illness will often shift your values, with greater emphasis placed on authenticity and support. Now keeping up with Joneses is not as much of a priority.

3. Confidence

What we purchase is often used to bolster self-esteem. Once again, this is often reflected in the home we live in, the car we drive, the technology we use and the clothes we wear. There is a time and place for everything, but chronic illness necessitates placing less emphasis on the external stimulations for confidence boosts. Sustainable confidence is derived from an awareness of one’s resilience, coping ability and inner strength. Developing awareness and cultivating these intrinsic resources costs a lot less.

4. Freedom

Money is often seen as means to buy us options. This can include travel, education and even health care. However, freedom takes on a different meaning when you become physically restricted. You may start to miss the autonomy you associated with going out by yourself all day, performing a physical activity or earning a full-time income. However, an alternative form of freedom exists for you through developing your sense of authenticity. When dealing with chronic illness, you become your top priority. Worrying about meeting the expectations of others is no longer your primary concern. Now is the time to take the opportunity to look within. Put others on hold, recognize what matters to you most and cultivate freedom which is far less expensive to adopt.

5. Gratification

Many of us spend money on short term fixes and gratifications. It isn’t only alcohol, tobacco, or drugs, which can fall within this category. It can also include a new BMW, iPhone, video games or coffee maker. Again, these items fall much further down the priority list when your physical health has been compromised. Now you may find you derive enjoyment from being able to make your energy last for more than a few hours, taking walk through your local park or appreciating the support you get from a close friend.  Use this as a time to develop the ability to derive gratification from the simplest things. Practising exercises such as nature walks, savouring and mindfulness can help you achieve a level of contentment which is sustainable.