With so much on your mind, it’s easy to forget that being a carer can sometimes set you back financially. Here are some money tips to help.
Consider the reality of earning less
You may need to cut back on your hours—or stop work completely. If this happens, you'll need to plan for less money in your pocket.
If you need to reduce your hours, speak to your employer. Remember, under the National Employment Standards, you have the right to a flexible working arrangement after 12 months in your job.
This may also impact your super, as you won’t be earning as much. Think about making your own super contributions to continue growing your retirement savings. You may wish to speak to a financial adviser about options to assist.
Government payments explained
Make sure you get all the support you need:
Get help with your payments
If you’re having trouble keeping on top of payments, talk to your lender.
If you’re with NAB:
Stay on top of your finances
Create plans for your debts, expenses and goals to help improve your financial situation:
Stay connected and take breaks
Chat to friends and family in person, or on FaceTime, Skype and WhatsApp. You may also find a carer support group in your area to talk to others in similar situations.
Make time to connect with others and enjoy regular ‘me time’. Learn how respite care works and find a respite service near you to schedule breaks from your caring duties.
Think about your mental health
Apps like Headspace and Smiling Mind can help you calm your mind by guiding you through a few minutes of meditation.
Strategies for managing stress and coping with anger, frustration and guilt can also help you stay committed.
Utilise support services
Take advantage of these carer support services:
Staying in shape
Caring can sometimes be hard work – both mentally and physically. To keep your body in shape, see:
Plan for the future
Help your loved one prepare for their future by putting necessary steps in place. Also think about:
- Home nursing services and community nursing services you can use like hospital care, residential care and palliative care if at-home care isn't a permanent long-term solution
- Life insurance and how it helps those who matter most if something happens to you or your loved one.