Family Fortunes! 20th Jun

I love a challenge…but I have a feeling this one is going to be a toughie! I have been asked by Unum, to see how we survive on £95 a week am not sure I can survive a day (with a family of six at home at the moment) – but let’s see! Oh, and just to add to the penny-pinching, budget crunching task…I also have to organise a day out for my family – am wondering if going into the garden would count? Honestly, it is looking a bit bleak but Family Contomichalos will give it a go!

By Jess Contomichalos

Before we start, here is a little bit of background – the stats!

The majority of us believe that the State would support us if we were unable to work due to illness or injury. But the reality is that the State benefit, the Employment and Support Allowance (ESA), which kicks in six months after sick leave begins, only pays around £5,000 a year (around £95 a week) for most people. (During the first six months of sick leave, your employer must pay you Statutory Sick Pay of around £85 a week)

This is 80% less than average UK earnings of £26,500 per year, meaning a huge drop in income for the majority of UK workers, if they had to go on long-term sick leave

Whilst many think this will never happen to us, in reality over 1 million UK workers of all ages get ill or injured each year, with 350,000 of them becoming long-term cases

Who is Unum?

Unum is the UK’s leading provider of Income Protection – For more information, click here Unum

Income Protection is an insurance which pays up to 80% of your salary if you become unable to work due to illness or injury. This usually starts after six months of absence, and continues to pay out until you return to work or retire

Unum is undertaking an awareness raising campaign to educate the public on the protection gap, and to highlight the need for a back up plan

So! What’s the challenge we’ve set for Jess and family?

Unum would like to see if Jess and Family can maintain her quality of life on £95?

Judging by the costs involved in running a family – this is going to be almost impossible – please follow my post in the week and at the end of the week to see how my family and I get on. I’ll be looking at the high and lows of the challenge and just to make it extra tough – but realistic apparently I will need to arrange a family day out! Watch this space!

Produced for That’s Yummy Mummy by Jess to a brief agreed with Unum. Payment made by Unum restricted to ESA allowance only. All editorial overseen and controlled by Jess

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Posted on:

20th June 11

Category

Just 4 U

Author

Posted by Jess Contomichalos

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