Families Caring for Parents Lose Income

by | Mar 4, 2014 | Cost of Care

Mature Couple - Financial Worries

The challenges of aging don’t fall on the elderly alone. They are shared by the family and friends who help keep seniors at home, and by the employers of those family members who must adapt to overly busy, stressed-out workers. Over the next few weeks we will review the challenges to families and their employers and show how we can make the situation better.

Let’s say your mom is living alone, and you’re the child who ends up being the primary caregiver. You make sure she’s up in the morning and eating regularly. You take her to the doctor and either take her to the grocery store or do her shopping for her.

You’re in charge of preparing meals, sorting out medications, making sure bills get paid, and keeping the house clean. On average, you report spending more than 20 hours a week—that’s a half-time job—and that’s before you even consider the quality time that will allow you to have an actual relationship with her.

You’re chronically tired, harried, and frustrated. You’re also losing money.

You thought you could take care of everything yourself, but then you end up coming to work late, leaving early, taking extended lunches, and spending long bouts on the telephone. You cut back on your hours to fit everything into your day. Maybe you quit your job because you can’t make it work.

If this story sounds familiar, it may be because it’s very common. Nearly one in six caregivers say they have serious financial hardships from their caregiving responsibilities (reporting either a “4” or a “5” on a 5-point scale).

Nearly 70 percent say they have had to make changes at work such as

  • Going in late or leaving early
  • Taking a leave of absence
  • Cutting back on hours
  • Turning down a promotion
  • Choosing early retirement
  • Quitting

There are other alternatives. Stay at Home works closely with family members to ensure their loved ones are safe and in touch. We love to take your mom to the doctor and the grocery story, make sure her house is tidy and see that she’s eating well. That way, you become a more stable, dependable, productive, happy worker. With us on your side, you can take that promotion and still get some quality time with your loved one.