Budgeting for Caregivers: Take Control of Finances
Caregiving is rewarding—but it can also drain your wallet. From prescriptions to gas for appointments, costs add up fast. That’s why creating a simple budget is one of the best gifts you can give yourself (and your loved one).
Why It Matters
Caregivers spend an average of 20% of their own income on care. A budget helps you:
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See where money goes.
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Plan for medical and household costs.
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Protect your savings and retirement.
Quick Steps to Take Control
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Track every dollar – include hidden costs like gas, parking, or OTC meds.
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Separate needs vs. wants – keep essentials clear.
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Create caregiving categories – medical, transport, supplies, respite.
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Build an emergency cushion – even $500 makes a difference.
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Don’t forget YOU – keep contributing to retirement, even a little.
Extra Help
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Look into tax deductions and local caregiver programs.
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Automate bills and savings to reduce stress.
Final Word
Budgeting isn’t about perfection—it’s about peace of mind. When you take control of your finances, you’re not just managing money—you’re protecting hope, stability, and your future.
