State of Caring 2024 report published
- Area of Work: Policy and Research
- Type: News Item
- Published: 24th October 2024
Carers UK have published their State of Caring 2024 report focusing on the impact of caring on finances.
Carers UK have published the State of Caring 2024 report. The State of Caring report is the result of the UK’s most comprehensive regular research into the lives and experiences of unpaid carers. This publication focuses on the impact of caring on people’s finances.
The State of Caring 2024 survey found that unpaid carers are finding it increasingly difficult to afford day-to-day living costs, with the worry and anxiety of this affecting their mental health and wellbeing.
Carers, particularly those receiving Carer’s Allowance and Universal Credit, are struggling to make ends meet, and many are making difficult choices, such as reducing meal sizes or skipping meals. A majority of carers responding to the survey are now cutting back on social connections, which often provide a vital lifeline helping people to balance caring responsibilities with their own wellbeing.
For example, the report shows that:
- 61% of unpaid carers are worried about living costs and managing in the future, and over a third (35%) don’t feel confident they will be able to manage financially over the next 12 months
- 28% of carers are cutting back on essentials like food and heating, an increase from 25% in 2022.
- 28% of carers said they have had to use credit cards, 22% have used their overdraft and 14% of carers are in debt because of caring.
- 68% of carers have cut back on hobbies and leisure activities and 60% have reduced time spent seeing family and friends
- Over half of carers (51%) said that their financial situation is having a negative impact on their mental health, and 61% feel stressed or anxious when they think about their financial situation.
- 42% of carers on Carer’s Allowance are struggling to make ends meet, compared to 27% of all carers, and 19% of carers in receipt of Universal Credit use food banks compared to 7% of all carers.
You can read the full version of the report here. Further reports based on the findings from the State of Caring 2024 will be published over the forthcoming months.
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