DH ill need to plan for the future

[Futureplanning]

DH has recently been diagnosed with a serious heart problem, prognosis isn't great, although at the moment he is managing quite well.

I'm not sure how long he is going to be able to sustain working or at least full time. We have young dc and basically live month to month.

I feel I need to plan for what may be a difficult future, to at least alleviate financial worries.

I don't even know where to start, we just don't have the spare income to do any serious saving and minus one income, our outgoings would far outweigh or incomings.

I just don't know how people manage and I need to learn fast.

Any advice would be gratefully received, I'm getting myself in a tiz.

If your mortgage is low, why are your outgoings so high?
Can you get it lower/better rate/increase the term while you both still have the income so your payments are even lower? It may even be beneficial to pay off the loan with a bit extra on the mortgage. Is the loan in his name? If it is solely in his name and unsecured and the worst does happen, then you won't be passed the debt, so it may not make financial sense to pay off /overpay the loan.
Just a few little things I've done in the past which have helped when money had the potential to get tight was every time I went to Tesco I saved on a gift card the "change" from my shopping so went up to the nearest £1, £5 etc and then I always has emergency food money. Did a bank switch and got 150 quid. Switched to cheaper tariffs and got 60 cash back. Etc etc.

It's really hard, my DH is in almost denial about his prognosis 😢

Mine too but nearly 2 years down the line I kind of get why. He still won’t give me his passwords to anything though which really bothers me. Nothing to hide as I have access to all accounts and know all our money better than he does but would be really useful if I could get into his phone and hotmail.

There’s so much great advice above. AwY from finances -
I fully second -

1. Get powers of attorney sorted out (for you both why not). One for finances and one for health. If you are the poa or joint then this allows you to make decisions should he not be able to. Forms online. Take a bit of completing and witnessed etc.
2. Do an advanced decision (for you both) - simpler form. Allows you to choose what type of intervention and treatment to allow or
3. Wills
4. Funeral decisions (for you both).

Those things once done will allow you both to know that you’ve looked out for each other.
Second above advice to not panic and to have fun once paperwork sorted and advice re benefits/housing situation etc sorted out.
Good luck op and your dh.

Thank you, some really good suggestions and advice, I have made a bit of a start on getting going with it all and wills is the first job. Then a hard look at incomings and outgoings, we should have more spare than we do, so need to make some changes.

I will also go to CAB and get some advice.

I think I'll sleep better tonight, knowing there are things we can do to help.

for all those who have been through it or still going through it and thank you for sharing your experiences.

Then we need to focus on living our best life possible and making lasting memories with the dc in the hope that some good can come of all this.

The motto we have adopted is plan for the worst but hope for the best. My dh is the opposite to some who are in denial. He is a realist and has started going through pensions with occupational health at work and has ordered a new pension statement, paid off small loan, paying down credit card etc just in case his operation does not go well. OH are going to look in to early retirement with actuarial reduction but say original pension may not be reduced only newer one he switched to. Keep strong.

Op do you have Macmillan’s where you are? Here they have a helpful welfare rights lady