Hey, guys. It's Kia. We've been talking about how to hyper- focus your finances in order to get a little bit richer, but sometimes life just gets in the way. So this episode I'm talking about the impact physical and mental illnesses can have on our money. Joining me is Corrine
Vern, a PR manager at Legal &; General. Corrine joined Legal &; General this year, but before this, she worked at our company who reviewed and rated financial products where her work involved promoting insurance protection. Corrine is 33 and one awful day last year, she suddenly went numb from the waist
down. Following this, she was diagnosed with multiple sclerosis and has spent the last year adjusting to some big changes in terms of her personal life, work life, and finances. Corinne's done an excellent job adapting to all of this, and she's joining me today to talk through her story, how this has impacted her life, and what she'd do
differently if she could go back. So Corinne, to kick things off, please could you talk me through the story of your diagnosis?
Yeah, I can. One day I was having brunch with the girls, time of my life, and the next day, literally overnight, I woke up and I was completely numb from the waist down-
Oh, wow.
... both legs. It's like straightaway was like, " That's not quite normal," and it was like pins and needles. My feet felt dead. So as soon as I could, I got hold of my GP and I was really, really lucky that I had access to private healthcare through work. I was really lucky I got diagnosed very, very quickly.
It was a long, hard process. You find out what's wrong and it feels like a bit of a journey and you don't really know what's going on. And then you get your diagnosis and you sit in the office and they go, " It's multiple sclerosis." He looked at me really odd because I was like, " Okay, fine," because I was expecting it.
Okay.
And then I got in the car and my mum was there luckily and she was like, "Are you okay?" I was like, "No."
No, no. I mean...
No, I'm not. Because that's where the journey really starts and that's when the reality of the situation because you're still kind of hoping that maybe I'm being dramatic. So that was kind of the start of all the changes was when I got that diagnosis and I realized quite quickly how much of an effect, not just feeling physically unwell, but the mental strain of having a diagnosis of
an incurable disease. Like I've been sick, but I've never been sick to be told that you're not going to get better from, like this is with you for life. So it was dealing with the implications of that is kind of what came next and was the fun part, so to speak. The challenging part, challenging.
The challenging part. So I can imagine that was a massive worry that you had to undertake. But how did this impact you financially? Were there changes that you had to make to your finances?
Yeah. So it's one of those ones like you deal with the health. At this point, I'm still very much going through the motions of being numb from the waist down. It lasted about sort of I think in total I had the numbness and the pain like for six months, but it was that impact then that it had on work. So I'd worked really hard throughout my 20s to get to the point that I was in my career.
I'd gone from like an internship earning like no money, all the way through to earning, like I was comfortable. I had a comfortable salary. I was starting to look at whether or not I wanted to buy a property, like start putting savings away and all of that. I just felt like I'd hit a brick wall and that whole perspective of just like I always felt like I was soaring and then, all of a sudden, I was like-
Oh, no, I can imagine.
... coming back down to earth with like a big bang, right? And financially, I had some savings, but I was like living my best life so I was enjoying the disposable income that I had. So I had some money saved. I had like the bog standard three months of salary, like monthly salary saved up. But I very quickly realized I'm not well. I don't know how long I'm going to be unwell for. I don't know what
recovery looks like. I'm very fortunate that I did get the function back in my lower body and I went into remission quite well, but I could have had really lasting effects and disability and at some points I was walking with a stick. That could have been something that I carried on and continued to do. So when it came to work, I just didn't know what that looked
like, whether I needed to take time off. I also had to have a real sit- down with myself and can I continue to do the job that I'm doing? Because one of the things that you get with multiple sclerosis is fatigue, which comes with it brain fog, and it just meant that I was really suffering at work. I couldn't find words in meetings and things like that.
So where I'd gone from, well, I mean I thought I was all right in my job before and, all of a sudden, I wasn't able to do the things that I could do before. The disease was new to me so I didn't know whether this was a permanent feature or whether that was just how I was going to be functioning moving forward. Luckily, it sort of eased and the brain fog and I still get fatigue, but it
comes in waves. So I was worried that I wouldn't have an income from work, and I was worried that if I went on sick, if it was long- term, whether I could live off statutory sick pay or how far my sick pay would stretch from work. But I was really lucky at the time that I worked for a really, really good company that made some adjustments for
me that helped me work and keep the salary. And I was also extremely lucky with work that as part of the workplace benefits, I had a critical illness cover, which is a type of insurance against things like cancer and multiple sclerosis is one of the critical illnesses that is covered. So I got a lump payment from them.
That's really good. Really useful, I'm sure.
Yeah, and I think what that did was that kind of financial worry and that fear of the unknown of what that future looked like, it gave me a really good buffer so that I could continue to work and continue to forge that career path once I felt better.
But in an ideal situation because I had to work because I didn't have anything else other than that workplace benefit, I didn't have income protection so that I could have something where I could take six months off work and realistically that's what I should have done, because I had the physical side of things and then the mental health side of things that came with the diagnosis, not
just the fatigue, but also I was not in a great place mentally because my whole world had just been turned upside down. So I had some things in place. I had an extremely good employer that sort of really
helped, and the critical illness really helped. But realistically, I wish I'd had a bit more there to sort of help and support me, take the time that I needed to sort of recover and work out what my next steps were going to be as well.
So Corinne, I just want to ask you, what were you doing for work before you had your diagnosis, and how was that impacted after you received your diagnosis?
So I just started working in financial services and I'd been with the company for four years- ish. And I was like getting to that point where I was starting to look at what the next opportunities were going to be. I was really, really career- minded and focused on sort of climbing that career ladder as well. And then you get hit with that diagnosis and, all of a sudden,
that five- year plan is like ripped up. At some points I thought that I'd have to leave my job completely, change career, do something part- time, do something easier just so that I could focus on my health, physical
and mental health. And when I went to work and they were really supportive and I was able to access the critical illness cover and sort of have that money and that backing, it actually gave me the confidence to keep going full steam ahead. So let's stick to the five-
year plan that I had for my career. I felt more financially secure because I thought if it all goes wrong when I do need to quit or I do need to go or I need to take a job that's less money, I kind of knew that I had a bit of like a financial buffer there that I wouldn't have had without the critical illness. And I started looking for jobs and I think this is where my
outlook changed a little bit. I'd sort of chased a salary and sort of gravitas and things like that with the jobs that I'd gone for before, quite normal things. But I wanted something that served with a bit more purpose and that resonated with me. That's where I saw the job with Legal &; General PR manager. I was like, tick, that's what I do. It's in financial services, tick.
And then the part that I really liked was it was specifically working with protection insurance. And I felt so passionately through my experience and being able to access the cover that I had and also passionate about the fact that I could have had way more cover in place. I could have provided myself so much more support had I understood that those products were for me at that
age in my 20s. It wasn't just life insurance and it's not just about like the worst, worst thing happening, but also supporting your lifestyle as you go along. The role really resonated with me and I was like, I absolutely want to do something because I feel like I've got a bit of a purpose. I'm on a bit of a soapbox with this.
Well, I think that's amazing. I think, like you said, it's something that young people should know about. It isn't covered very often. So off the back of that then, what took you by surprise? What's the thing that you don't realize until you're in this type of situation?
I never thought that it would happen to me. And it sounds silly because my mom's got MS, but it's not hereditary. So really, I didn't think it was going to happen to me, like-
Yeah, of course.
... and you think that sickness and these kinds of things are for people that are like older than you, right? I was building my life. I wasn't expecting it to be shattered overnight. I'd gone through my 20s thinking I was invincible, having a great time with all my friends, socializing, climbing the career ladder, doing everything that you're
meant to do during those years. And I didn't think that I would get to like 30, 31 and that would be, potentially could be the end of that kind of climb. And I hadn't and I don't know many people that do, especially when I talk to my friends. They don't think about what they would do if they got unwell or they weren't well enough to work. And it's not a comfortable thing to think about, the unexpected and
planning for the worst. But me, personally, I wish I had given that more thought. I was lucky, but if it had happened at any other point, or I was working for a different employer, the outcome could have been really, really different for me and I could have been really,
really stuck. And having three months' salary saved up is great, but it doesn't stretch very far when you've got bills and rent and also just like life to pay for as well.
That's the thing. I think there's so many things to consider, like you've mentioned, that it's almost hard, as you said, to see yourself in that situation.
Yeah, you can't. Until you're in it, you can't. But I think that's the challenge you have to do with yourself, right? I think you do have to take that time to take stock and just say, " Okay, carpet gets
pulled out from underneath me. What is my plan? What do I have in place to protect the lifestyle that I have today?" And that accommodates and accounts for everything, not just financially, but like your mental health, your physical health. Like what do you have in place and what support systems do you have in place today that can support
you if the worst happens? So start building some good habits with like putting some money away and take stock of that. Don't just save the three months' salary and leave it-
Yes.
... because, as well, I'd based it on three months' salary before I'd had like pay rises and things like that. So my lifestyle had moved on, but my savings were sort of stuck. So I was like, " That's done. I've got this little pocket. I can carry on." And I never took stock, and I never did things to continue to
protect the life and the lifestyle that I was building. And you do it in the hope that you'll never have to use it. But I think if you can get these really good habits to think in those terms and while things are up, don't wait until like I did where you are in that crisis point, and then start thinking about these things because it is a little bit too late.
So do it while things are good, and just like explore what products could help you protect your income and protect your lifestyle as well.
So for you, you're in your early 30s and when you're young, it's really hard, like you said, to see yourself in any situation and to think that that could happen to you. So how would you like to see people's mindsets change here? Because I know your current line of work lines up with this.
Most people are really, really comfortable with insuring your things. Like you get a phone, you have insurance. Obviously legal requirement to have insurance. We are so comfortable with insuring things, it's second nature. But for some reason when it comes to ourselves, our body, our health, it's boring and
we don't want to talk about it. I don't know whether or not, especially when you talk about like life insurance, obviously that's like the very worst and you don't want to talk about that because it feels morbid. But it's like what we were saying earlier about protecting the lifestyle that you're building and the life that you're building out for yourself. So I'd like to see that change.
I'd like to see more conversation about how we protect ourselves and our lives against the unexpected happening. And a lot of these products when you're younger are a bit cheaper as well because sort of the risks are lower. I mean, there'll always be like one person like me
that's like, " It happened to me, pick me." But no, I just really want that mindset to change, that it's not too expensive, it's not too difficult to have these conversations, and we are worth protecting and our lives are worth protecting.
Like you said, that is very key. We insure our products, but ourselves, it's very important so I think that's a great point. But I want to run off this episode, though, the way that I always do. So I'm going to ask you, what are three tips that you'd give to our listeners to help them get a little bit richer?
I think start habits, good financial habits early, even when you're not earning a huge amount, start making savings, putting things away, and planning for the unexpected. Not just like rainy day funds, but actually worst case scenario planning as well. And also look into insuring yourself in keeping your lifestyle going and look into things like income protection and critical illness cover. And I was really lucky that I
had some workplace benefits, but check, really do look. It's great to have pizzas every Friday, it's great to finish at four o'clock every Friday, but actually look at the more boring benefits. Have a look at your pension, have a look at sort of what life insurance is involved and also if there are any other benefits that come
with that. Because a lot of the time you'll have access to things like counseling, again, like private diagnostics and private GPs and things. Have a look at like that boring paperwork pack that you get when you start a new job and you're really excited and just take stock of what you've got in place and what might be missing
from that as well. So you're not just relying on the workplace benefits, but what can you do and what products can you access on a personal level as well. So just be mindful of all of your financial products, I think, is key from early on, so you build those habits.
Early on, that habit. That's a key point. Corinne, thank you so much for sharing your story. It's been very Insightful when you've shared some amazing tips so thank you so much. Whether you are in a similar position to Corinne or not, I hope that this episode resonated with you. If it did, then please be sure to follow the podcast, leave us a review
and tell others who you think would be interested. Next week, I'll be looking at student loans, the different types, how they can affect your finances and if you should repay them. See you then.