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Family caregivers spend a huge percent of their income on care costs

A huge portion of a caregiver’s salary goes to the needs of their sick family member or loved one, a new study shows.

Family caregivers spend 20 percent of their income — an average of $6,954 — on out-of-pocket costs related to caregiving, according to the AARP Research report.

For the survey, more than 1,860 family caregivers answered questions and kept a daily diary that tracked all of their out-of-pocket expenses that went toward caregiving. The research was conducted during the summer of 2016, and included men and women currently providing unpaid care to a relative or friend aged 18 or over.

 

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