Caring for an elderly, sick or disabled family member can be a stressful addition to a working adult’s already busy life. According to AARP, 74 percent of family caregivers have worked at a job outside of the home in addition to caregiving responsibilities.
Effects on Family Caregiver’s:
Many family caregivers are faced with the physical and psychological challenges of caring for a family member. These challenges can cause strain and sacrifice within the family dynamic, the caregiver’s job and the caregiver’s personal life.
Economic strain is the most overt challenge of caring for an elderly family member. Many caregivers sacrifice time and money to sufficiently provide care. According to an AARP survey, 42 percent of U.S. workers have provided care for a relative in the past five years and 68 percent of family caregivers had to make sacrifices in their job to provide care.
- Arriving late/leaving early or taking time off during the day 64 percent
- Taking a leave of absence 17 percent
- Quitting a job or taking early retirement 10 percent
- Reducing work hours or taking a less demanding job 9 percent
- Turing down a promotion 5 percent
After the caregiver has to cut their hours at work then comes financial strain. According to the Evercare Survey of the Economic Downturn and its Impact on Family Caregiving, 65 percent of caregivers said that they had difficulty paying for basic necessities, 64 percent had trouble paying for other bills, 63 percent were saving less money for their own retirement, 47 percent used up all or most of their personal savings and 43 percent borrowed more or increased their credit card debt.
Businesses lose up to $33.6 billion a year in decreased productivity due to full time working family caregivers and the average annual cost per caregiver is $2,110 for employers, according to AARP.
Not only do finances suffer, but family caregivers can be faced with a tremendous amount of stress, anxiety and depression. According to the Family Caregiver Alliance, 26 percent of family caregivers say that caring for a dependent relative is hard on them emotionally and 22 percent of caregivers are exhausted when they go to bed at night.
According to the Family Caregiver Alliance, studies show that 30-40 percent of dementia caregivers suffer from depression and emotional stress. This stress can come from financial problems or the burden of caring for a relative declining in health.
CareFamily.com offers in-home care solutions that include bonding and liability insurance, payment processing, tax management, background checks and the assistance of a personal care coach for under $15 an hour. CareFamily makes care affordable and safe while giving the caregivers the higher compensation of being employed by a family instead of an agency.
For more information and solutions on caregiver burn out or depression you should consult our video titled, “Overcoming Caregiver Depression,” or checking out our CareFamily blog article, “Take a Breath: Identifying and Dealing with Caregiver Stress.”