Published on:
08 June 2023
Being a carer can have a huge impact on many aspects of your life, including your financial wellbeing. Alison Pask, Relationship Manager on our Money Guiders programme, shares how Carers First supports those financial wellbeing needs, and how your organisation can support customers and employees who are carers.
It is estimated in the 2021 Census that across the UK there are 5 million people caring for a family member or friend who due to illness, disability, a mental health problem or an addiction cannot cope without their support. However, research by carer charities suggests the actual number may be even higher. According to Carers First, it is estimated that two in three people can expect to become a carer at some point in their lifetime.
Caring responsibilities can impact many aspects of a person’s life, including their financial wellbeing. Understanding and recognising those colleagues in your organisation who are navigating life as a carer is important, and we can help you support them. Extending that support to your customers and service users is also possible too.
Carers may be adults caring for partners or aging parents, or children caring for their parents. Carers might also be supporting non-relatives too.
Caring can affect finances in a number of ways, particularly as caring is unpaid. Examples include:
Helping carers to access support and services that are available is essential. These can include a Carers Allowance or even respite care for the person they are caring for, giving the carer a chance to recharge.
MoneyHelper lists supports services available to carersOpens in a new window on their website in both English and Welsh.
MoneyHelper also has a guide to helping to manage the money of someone you’re caring forOpens in a new window
If you talk to your customers or service users about money, our Money Guiders programme can help you to take your help for carers further.
The Money Guiders programme is for:
Carers First is the first carers charity in England to participate in the Money Guiders programme.
Carers First is a charity that delivers information, advice and support to unpaid carers, who look after family members or friends who cannot manage on their own due to ill health, frailty or a disability. The charity offers support online, via a helpline and face to face in communities across the east of England and London. Last year the organisation reached over 250,000 carers. There are over 40,000 carers registered with the charity.
Since the pandemic, Carers First has seen an increase in the number of carers finding themselves in desperate financial need. During the pandemic, many carers had to give up their employment, using their savings and/or pension to get by. There are now additional expenses to factor in with the current cost of living and increased fuel prices.
“Money Guiders is a great programme for us in terms of making sure our staff have the skill base to address financial concerns, and handover to specialist agencies where needed,” said Alison Taylor, Chief Executive. “We’re trying to reach carers earlier in their journey before they’re really struggling, and provide enhanced services so they are not being passed back and forth between services.”
The key topics staff get asked about is benefits. Some staff are trained welfare benefits advisers, but the majority are not, which is where Money Guiders helps to upskill to a common level. “The clear structure and endorsement appeals to staff,” says Laura Small, HR Manager.
"A lot of people don’t like talking about money so this has helped our staff have confidence of raising these issues in a positive way."
- Alison Taylor, Chief Executive of Carers First
“Staff are more aware of the type of questions and support that they need to provide. They are really excited this is something that can be offered. They’ve taken part in helping to build tier 2 and 3, it’s a great programme to be a part of. Once tier 2 and 3 are done I think we’ll really see the benefit in terms of our knowledge base and who we can signpost to,” says Laura.