Carers challenges in finding financial help
New report highlights carers’ challenges in seeking financial help
Carers UK have published a new report that looks at how poorly informed carers are about the financial help that’s available – despite their growing need for support and the cost of living crisis.
Called Thinking ahead – supporting carers to manage their finances, the report highlights the urgent need for improved financial advice, guidance, and support for the UK’s 5.8 million unpaid carers, many of whom face significant financial hardship.
With 1.2 million unpaid carers living in poverty, it’s vital that there is a strong safety net for those providing essential care to family members and friends.
Carers don’t know where to turn…
Specifically, the research reveals that:
- 1 in 5 unpaid carers are struggling to make ends meet.
- A third (34%) of those in this situation do not know where to go for financial help.
- 41% are unsure what benefits they are entitled to.
Barriers to help
The report underscores the barriers carers face in accessing help. Carers having limited time to seek, or research help, is key. They’re also challenged by complex systems and a lack of tailored, trusted advice. It also highlights the stigma that can be attached to asking for financial help and carers’ concerns about confidentiality.
Alarmingly, 63% of carers struggling to make ends meet have not accessed any guidance or resources in the last 12 months.
Many carers reported that they would have made different decisions in the past if they’d had financial guidance at the time, such as staying work longer, increasing contributions to their pension, or saving sooner for the future.
Carers UK’s demands
To address the barriers and financial insecurity that carers are experiencing, Carers UK is calling for:
- Better access to timely and accessible financial guidance and advice.
- Simplified systems for navigating social security and benefits.
- Greater financial support for carers to help them plan and save for the future.
You can read the full report here and a two-page summary version here.