Supporting Carers’ Financial Wellbeing

10 June 2019

During Carers Week 2019, we'll be raising awareness of how being a Carer can have an impact on finances.

With as many as three in five Carers in the UK having faced debt because of their caring role, PayPlan believes it is time to break down the barriers to seeking support.

6.5 million Carers in the UK

According to NHS England, a Carer is any adult or child who provides unpaid care for a family member, partner or friend because of illness, frailty, disability, mental health problem or an addiction.

Why are Carers more likely to face money worries?

It can be an all too familiar story for carers to face financial pressures and crisis. A few of the most common reasons include that Carers are more likely to:

  • reduce their hours of work or give up working completely
  • face extra costs due to disability and ill health
  • spend more money on household costs such as utilities, food and transport
  • require disability-related spending, such as care services and equipment, cleaning products and home adaption

Support available for Carers

On average, people wait up to four years before they seek advice. Yet, the sooner a person seeks help, the quicker they can have a plan to become debt-free.

A recent PayPlan client survey showed the positive effect seeking debt advice can have on mental health. 93% of clients said that by seeking advice from PayPlan, their mental wellbeing improves and stress levels reduced, and 95% said they feel confident about managing their money.

Signpost to PayPlan today:

PayPlan offers free, impartial debt advice to anyone who needs it. Advisers are open, friendly and non-judgement and will advise on the best way forward and how to communicate with creditors.
Call 0800 280 2816 or visit:

Information for Carers to build financial resilience

If you are worried about your finances, or someone’s that you care for, then follow these four steps to build financial resilience.

Step 1 – Know your numbers

Getting in control of your money starts by knowing what’s coming in, what’s going out and being aware of what’s coming up.

Don’t worry; this doesn’t’ need to be a complicated exercise. Create a budget on a piece of paper or use an online tool like this free budget planner from the Money Advice Service. You’ll just need to have some recent bills and bank statements handy so you don’t miss anything out.

Step 2 – Reduce and eliminate debt

Get in touch a free debt advice provider, visit: or call: 0800 280 2816. Advisers will support you to collate monies owed to create a realistic financial picture. From there, and depending what reducing credit card debt or personal loans, you can focus your savings and income on meeting present and future expenses – rather than have to keep paying for past expenses.

Step 3 – Build a healthy emergency fund

If your credit card is on stand by for any unexpected charges – then reduce its power. A car breakdown, washing machine bust or burst pipes aren’t things we generally think about when creating our budget.

Create an emergency fund – depending on what you’ve learnt from your budget – and go there firstly for costs that would usually have seen you reach for the plastic.

Step 4 – Strengthen relationships and social networks

Strong relationships not only make for a happier, healthier life, but they can also provide support in times of crisis. Close friends, family or professionals can offer help and practical advice.


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