On average, caregivers spend nearly 20% of their own income on out-of-pocket caregiving costs, totaling more than $7,400 each year or more than 25% of their personal annual income.
Even the most adept and financially savvy caregiver can be overwhelmed by the expenses of long term support for parents, a spouse or child with disabilities. To make up for shortfalls in immediate needs like medical treatments, co-pays, groceries, utility bills etc, many caregivers take on personal debt. So where will the money come from?