Online Buzz: Suggestions to Diminish Caregiver Expenses

Senior woman and caregiver hugging

Caring for a loved one is truly a labor of love for millions of American family caregivers, but for many, the devotion of time and tenderness comes with personal financial sacrifice. The AARP "Family Caregiving and Out-of-Pocket Costs: 2016 Report" estimates that U.S. family caregivers spend a yearly average of $6,954 for out-of-pocket costs related to caregiving. Hispanic/Latino caregivers spend $9,022 annually, which adds up to 44 percent of their income. According to the report, African-Americans spend an average of 34 percent of their annual income on family caregiving and whites 14 percent.

If you are a family caregiver, you should be aware of all the cost-saving benefits to which you might be entitled. Depending on the state in which you live, these benefits may include direct cash payments or breaks to your federal income tax.

Find information about cost-saving benefits caregivers should know about in the Right at Home blog, where you will always find the latest information about aging, caregiving and home care.

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Right at Home, Inc. is a national organization dedicated to improving the quality of life for those we serve. We fulfill that mission through a dedicated network of locally owned providers of in home care services.