Going through breast cancer is overwhelming as it is. Then there’s the financial stress that can follow.

Are hidden costs piling up while you navigate treatment? Are you relying on credit cards or taking on debt to cover expenses you never anticipated—prescription medications, therapy, travel, parking, lost income and more?

It’s something many people experience, but few feel comfortable talking about. We’re changing that.

We recently gathered for a Rethink Real Talk on Navigating Finance and the Hidden Costs of Breast Cancer. Together with experts in financial wellness, debt solutions, and members of the breast cancer community who have lived through it themselves, we explored practical ways to manage financial stress and access available support.

Whether you’re newly diagnosed, in treatment or planning for what’s ahead, these expert tips and resources can help you understand your options, access financial support, and take greater control of your finances with confidence.

5 Expert Tips for Managing Finances After a Cancer Diagnosis

1. Seek financial help early

If your finances are starting to feel tight, talk to a financial advisor or debt management professional before things become unmanageable. It’s never too early. You can find this person through your financial institution, local community, or the Government of Canada website.

Facing a health crisis can shift your relationship with money, but letting go of guilt or what you “should” have done to prepare is an important first step.

Understanding exactly where you stand financially can reduce anxiety and help you feel more in control.

2. Access free financial counselling and debt support

If you’ve had to rely on credit cards or are struggling with debt, there are not-for-profit organizations that offer free credit counselling.

They can help you:

• Create a realistic budget
• Consolidate or restructure debt
• Set up manageable monthly payments

Some debt management programs may also help freeze interest rates to improve short-term cash flow and support repayment.

Be cautious of unregulated debt companies. Stick to non-profits or Licensed Insolvency Trustees (LITs), who are legally required to act in your best interest.

3. Apply for government benefits as early as possible

Do not wait for a “perfect” time to apply for support.

Explore programs such as:

• Canada Pension Plan Disability (CPPD)
• Employment Insurance (EI) sickness benefits
• Trillium Drug Program

Applications can take time and often require input from your healthcare team. Apply early—even if you are unsure you qualify.

It is better to be declined than to miss out on support you may be eligible for.

4. Track and save all cancer-related expenses

Keep receipts for all cancer-related costs, including:

• Medications
• Travel
• Parking
• Mileage
• Paramedical services

Having a complete record makes tax time easier and helps ensure you don’t miss eligible claims.

5. Remember: your financial situation can change

This moment is not your forever.

Financial situations evolve, support systems shift, and stability can be rebuilt over time. You don’t need to figure everything out at once.

Support does exist, even if it takes time to find. You can do this.

Free Financial Resources

To help you get started, here are some trusted tools and supports:

Budgeting and Financial Planning

• Budget Worksheet
• Your Free Money Guide
• Wealth Simple Learn Resources Page

Debt Support & Financial Recovery

• BDO Debt Relief Guide
• BDO Financial Wellness Workbook
• Licensed Insolvency Trustee (Canada directory)

Government Benefits & Tax Supports

• Canada Pension Plan Disability (CPPD)
• Canada Disability Tax Credit
• Trillium Drug Program (TDP) can help pay for expensive take-home cancer drugs and thousands of other prescription medications. It is designed for residents with high drug costs relative to their household income. It also covers everyone living under the same roof. Find out more info here.
• Government of Canada Financial Resources