Almost one-third of sandwich carers are struggling to cope with the high cost of living in the UK.A study from the Money Advice Service highlights how this demographic – who have caring responsibilities for both young and older family members – are having real financial problems.
While 32 per cent are just about keeping their heads above water, 22 per cent are finding themselves in debt because they do not have enough money to make it through the month.If these individuals start to rely on credit to make ends meet, they could spiral further into debt management problems.
The research has been published to coincide with Carers Week – which runs from June 10th to 16th – and it is estimated that ten per cent of the population aged over 16 are now sandwich carers. Some 48 per cent of respondents said their income has been squeezed, while 37 per cent have reduced their day-to-day spending in an effort to save some money. Caroline Rookes, chief executive officer of the Money Advice Service, said it is clear for all to see the financial stresses facing sandwich carers as they look to handle the dual-caring role.
“Money is clearly only part of the picture, but it’s a major factor affecting carers’ lives and we know millions are struggling to cope. There is no single solution for all carers because every circumstance is different, but we have a host of free support, from everyday budgeting to funding your own long-term care,” she added.
The challenges facing sandwich carers are unique, as Carers Week manager Helen Clarke stated they often have to complete a “real balancing act” by trying to look after both young and old people.
Because of the emotional strain facing these people, the last thing they need is to be under financial pressure and so this is why they need to get organised. By setting out a strict plan, consumers will often have one less headache to worry about.
By Joe White
Nearest tube – Elephant & Castle underground station (Northern and Bakerloo lines).
Nearest Railway Station – Elephant & Castle
Buses from Elephant and Castle – ask bus driver for Burgess Park. Bus numbers: 12, 171, 148, 176, 68, 484, 42, 40, 45