New research from MetLife UK highlights that three quarters (77%) of working parents would be at financial risk if they had to take an extended amount of time off work to provide childcare.
Having experienced this first hand when her daughter, Isla, faced a rare form of ovarian cancer at just 13 years old, British former long-distance champion and marathon world record holder,Paula Radcliffe MBE shares her top considerations for working parents when also supporting children if they’re facing an illness or injury.
Summer holidays are coming so be prepared
With the summer holidays approaching and the warmer weather making outdoor play and activities all the more appealing, children are likely to be running around, climbing, and having fun. But with all that energy and excitement comes a greater risk of bumps, bruises, or even more serious injuries like broken bones or sporting mishaps. I know from personal experience when my kids were younger – we were frequently having to make visits to A&E.
While accidents are sometimes unavoidable, having the right protection in place can make all the difference if you need to take time off to care for your child after an illness or injury. It not only gives you peace of mind allowing you to focus fully on being there for them, but also helps take away some of the financial pressure if you need extended leave from work.
Share the childcare load
Let’s face it – when kids are feeling unwell or have had a bump or fall, they usually want Mum. MetLife found that 77% of people said they turned to their mum for care when they were sick or injured, while only 9% said Dad.
It’s completely natural, but it can put a lot of pressure on mums, especially when it comes to juggling work and home life. In fact, 34% of mums worry about how their boss will react if they need to take time off to look after a poorly child, compared to just 25% of dads. Sharing the load a bit more at home can really help ease that pressure and make things a little easier all round.
Try to have a safety net
None of us like to think about our children facing a serious illness or injury but having a financial safety net in place can make a huge difference if the unexpected happens. Not everyone is lucky enough to get paid time off work, and for those who are self-employed, taking time out can hit particularly hard financially. That’s where savings or financial protection can really help.
When Isla was first diagnosed, I had to step away from competing and punditry which ultimately took a toll on my earnings; this is something that can impact lots of other parents too leading to money pressures.
In fact MetLife’s research found as many as three in four (77%) working parents would be at financial risk due to not having an emergency fund in place – so it pays to consider getting insurance to ease financial strain if the unexpected happens.
Consider what support you can get
When Isla got sick, I gave up everything to focus solely on her and the treatment she needed. It meant stepping away from competing and punditry, and managing multiple hospital stays with Isla, which ultimately meant a drop in income which we had to navigate too. For those who have even less flexibility at work, may be self-employed, or even single parents, the financial knock-on consequences could be even greater.
MetLife’s research shows that more than a quarter (27%) of working parents fear losing income when having to take time out of work to care for an ill or injured child – something a lot of parents may feel conflicted about when it comes to supporting children emotionally and physically too. But as a parent, it’s something we all still have to think about.
While having other forms of support is important, such as family and friends helping with other children or making sure you’re looking after yourself too, having some form of protection or insurance can help lift some of that financial weight off your shoulders. I’ll admit, it’s something I hadn’t previously considered, but would urge others to if the unexpected were to happen!
Think about round the clock GP access
Doctors appointments aren’t always easy to get quickly and if illness strikes unexpectedly, this is one of the first touch points parents go to get medical advice. It can create additional stress in not getting answers you’re looking for immediately, so being able to access a GP 24/7 definitely helps alleviate some of that stress and anxiousness.
