The money topic is even more challenging when it comes to caregivers
Even though one of the essential parts of life, most people are scared to talk about money. It gets worse when it involves people you are close to. Parents leave it late to teach their kids about money. The same applies to marriages where most men are hoping women would help more with the bills. Most people prefer suffering in silence to confronting the daunting money issues.
The money topic is even more challenging when it comes to caregivers. Taking care of someone else comes with additional financial responsibilities. If you don't talk about money, then you might end up with zero savings, debt and other liabilities.
Here is all you need to know about money for caregivers;
Preparation
The first consideration before getting into fulltime is how ready you are to take the additional responsibility. Understand your financial situation to determine if you can include another person. Once you have ascertained your financial position, it is time to consider their financial position as well. Confirm if the presence of a source of income and what it caters for. Look into all the expenses of the care receiver.
Going to caregiving full time is such a massive choice in life. It requires assurance on how you will cater for your expenses like rent, food, medication and any other additional costs. Only move to full-time caregiving if you enough money to support everyone who depends on you. You can also consider it if the other family members agree to help you.