Study Shows Caregivers Invest a Lot of Time and Cash

By Bill O’Neil

A new study suggests those of us caring for a family member or a friend are spending a lot of time and money to do that.

The research shows nearly half of care givers spend at least $5000 per year on that task.

“That’s just the floor for that set of care givers” Caring.com’s Tim Sullivan told KTSA News, adding “18% are spending between $5000 and $10,000… 10% between $10,000 and $20,000.”

The report shows those costs can add up very quickly.

“Medications, travel to the doctor, paying for caregiver services to come to your house… legal planning… there’s a wide range of costs you have to confront” Sullivan said.

The report also shows care giving can eat up a lot of time as well.

“38% reported that spent more than 30 hours per week on care giving–which is nearly another full time job” Sullivan said, also pointing out the impact care giving can have on a person’s work life.

“More than half–about 55%–have missed one or more weeks of work in the past 12 months” Sullivan said.

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