Becoming a carer – Supporting yourself while you support others

Estimated reading time
 5 min

Learn all about

• Common costs involved in becoming a carer
• Different support systems available for carers including financial support, emotional support, education and helpful resources

If you’re a carer, you’re one of an estimated 2.65 million Australians working to support people to live fulfilling, independent lives with disability or illness.

Caring for others is the most important work you can do. But unfortunately, carers can experience some level of financial hardship often due to having less time available for paid work and covering expenses for the person in their care.

That’s why we’re here to help. We’ll be guiding you through the different costs associated with being a carer, as well as the financial and emotional support you can access.

What are the financial considerations of becoming a carer?

Caring for a loved one on your own often takes up a lot of time and energy, especially if they have complex needs. On top of that, care work is very often unpaid work, and as a result, some of the biggest costs involved in becoming a carer can come from loss of income. In addition, according to Carers Australia, primary carers lose an average of $392,000 in earnings and $175,000 in superannuation over the course of their lifetime.

Making the most of financial support and care payments can also help you feel secure with your money while caring for a loved one. When it comes to the finances involved in being a carer, there are a few things you’ll need to factor in, including:

• Buying assistive technology or supports, like hoists or smart home appliances
• Adjustments and upgrades to the home to make it accessible
• Medical costs, like specialist appointments, surgeries, and medication
• Increased cost of household and utility bills
• Increased cost to grocery and personal care items
• Specialised transport

While super might be the last thing on your mind, getting on top of your retirement savings early can also help improve your financial wellbeing in the future.

What support is available for carers?

It’s common for those who spend their time caring for others not to consider themselves as a priority. But if you’re caring for someone, whether it’s for a couple of hours a week or full-time, there’s support available to you, if you need.

General support for carers

• The Carer Gateway offers a range of free services for carers. Some of these include tailored support packages (like respite support, home modification assistance and more), counselling services, online forums to connect with others, coaching to help you find your own dreams and desires, and courses to grow your caring skillset.
• The Carer Allowance is a fortnightly payment of $153.50 that comes through Centrelink. You must be an Australian resident and provide daily care to a person with a disability, medical condition or frail age.
• The Carer Payment is a fortnightly payment of up to $1,096.70 for singles and $1,653.40 for couples (as of March 2024) if you provide substantial daily care and assistance to a person with a disability, medical condition or frail age. If you are eligible for the Carer Payment, you’ll also receive the Carer Allowance.
• The Carer Supplement is a yearly payment of up to $600 you’ll automatically receive if you get the Carer Allowance, Carer Payment and other types of payment.

Support for carers of people with disability or significant illness

• The National Disability Insurance Scheme (NDIS) supports Australians with disability. But did you know that an NDIS participant can use some of their funding for respite? This can help the carer recharge so they can better manage their own health and wellbeing when they go back to caring for a participant, including children with disability.
• Healthdirect is a website that makes searching for certain support related to the person’s chronic illness much easier. You can also search for carer services in your local area too.

Support for carers of children with disability or a serious medical condition

• The Family Tax Benefit is for parents who care for a child with a serious medical condition. There are two types of payments you can receive, so it’s important you know which one you’re eligible for.
• The Assistance for Isolated Children Scheme is for carers looking after a child with disability or a special education need that is geographically isolated and has no reasonable access to a school. The amount you receive will depend on your situation.

Support for carers of the elderly

• My Aged Care has a wealth of information for carers of the elderly. It can help with things like knowing when and how to transition into an aged care facility and accessing aged care services. You can also apply to have someone come to the home of the person you’re caring for if you need additional support.
• Dementia Australia offers a number of educational resources to help you care for someone with dementia. The organisation also runs support groups for carers.

Support for carers of people with mental illness

• Mind Australia provides support for people with mental illness and their carers. If you need someone to talk to, Mind Australia’s Carer Helpline is available on 1300 554 660.

Read more about how to fund a home modification