The Pandemic Has Been Tough on Adult Caregivers. Personal Finance Expert Jean Chatzky Has Some Advice

Caring for loved ones isn’t just a great responsibility. It’s costly, too. 

Throughout a year defined by health and financial crises, 48 million unpaid American caregivers have faced extra financial strain, according to personal finance expert Jean Chatzky and data from the AARP.

Today, more than 1 in 5 Americans are unpaid caregivers; they provide assistance for adult family members, friends, or neighbors with health or functional needs. On average, caregivers spend nearly 20% of their own income on out-of-pocket caregiving costs, according to AARP data, totaling more than $7,400 each year. 

We recently spoke with Chatzky, a financial ambassador for AARP,  about the financial challenges of caregiving in a pandemic — and how caregivers can keep up with their financial goals while providing for loved ones.

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