Thousands of carers get support with energy costs and household finances
A pioneering new project has extended vital support to over 10,000 carers experiencing financial hardship, especially in relation to rising energy costs, in its first year of delivery.
Carer Money Matters is a two-year programme being delivered by 24 local carer organisations within the Carers Trust network. It is funded by four Gas Distribution Networks: Cadent; Northern Gas Network; SGN; and Wales and West Utilities.
The project provides carers with direct financial assistance, practical support, and longer-term development of skills, knowledge and confidence to manage their finances effectively.
In just one year, Carer Money Matters has already had a huge impact in helping carers struggling to manage their household finances. Success so far includes:
- Over 10,000 carers supported in year 1 with over £6.9 million generated in potential income and savings for carers.
- Carers report improved confidence, greater preparedness for future financial challenges, and reduced emotional stress.
- 81% said they felt ‘prepared’ or ‘very prepared’ to handle future financial challenges after support from Carer Money Matters.
- There has also been a statistically significant improvement in financial wellbeing scores for carers supported by the programme.
- Carers highlighted that when they feel calmer and more supported, this can have a positive impact on the wellbeing of those they care for.
Much of the support is given on a one-to-one basis. One carer whose financial problems have been eased thanks to Carer Money Matters said:
“I have never felt so supported in the four years I’ve been struggling. I feel like this support team have wrapped their arms around me.”
The findings come from an interim evaluation of the programme after its first year. The independent evaluation was conducted by Wavehill, a specialist economic and social research company.
Find the exec summary in Welsh here
Find the full report in Welsh here
Click here to see, and download, the Carer Money Matters infographic with our latest figures.