Empowering Carers Through Financial Awareness and Support

October marks Financial Planning Month - a timely reminder of the importance of understanding and managing our finances to build a more secure future. For unpaid carers across Wales, financial planning isn’t just about saving for tomorrow, it’s about surviving today.

Carers often face unique financial pressures, from reduced income due to caregiving responsibilities to increased household costs. That’s why initiatives like the Carers Support Fund, funded by Welsh Government and managed by Carers Trust Wales, are so vital. As well as grants for essential goods and food, the fund offers a wide range of services designed to ease financial hardship and improve carers’ overall quality of life.

What Support Is Available?

Delivered through local carers organisations, carers can access tailored services such as financial advice and income support, money management and financial literacy workshops and debt and money management support. These services are designed not just to relieve financial pressure, but to empower carers with life-skills, helping them continue their vital roles with confidence and resilience.

Rebecca O’Mahoney from Ray of Light Cancer Support, says, “The practical workshops, such as “Food for Thought” and “Managing Your Budget on a Low Income,” were especially popular, equipping carers with real-world skills in a supportive, friendly environment. Carers learned practical strategies for budgeting and identifying ways to reduce outgoings through smarter spending.”

One carer said,

The energy session really opened my eyes - I’ve already seen a drop in my bills just by making small changes.

Real Impact: Stories from the Frontline

I don’t know where I would be without you

Thanks to the Carers Support Fund, Bridgend Carers Centre has been able to offer tailored financial and emotional support to carers facing hardship. The impact has been transformative.

Sarah Jarvis, CEO of Bridgend Carers Centre, recalls one carer who had long avoided seeking help due to cultural expectations. After building trust with the centre’s staff, he received the support he desperately needed.

“I don’t know where I would be without you,” he said. “You’ve helped me get my debts under control, and now I can sleep at night. I have more time and energy to care for my mum and for myself.”

Building Long-Term Resilience

In West Wales, Carers Trust Crossroads West Wales (CTCWW) is helping carers not just survive crisis, but build long-term financial resilience through their Money Matters programme. 

“During 2024/25, we provided one-to-one support for carers to maximise their income, by claiming eligible benefits and accessing grants,” says Cathy Boyle from CTCWW. “We also helped reduce their outgoings through support on utility costs, council tax discounts, and budgeting skills.”

The result? This project, in 2024/25, secured over £657,000 in benefits, grants and savings for unpaid carers in Carmarthenshire, Pembrokeshire, and Ceredigion.

Carer Spotlight: Rhian’s Story

You have turned my life around

Rhian is an older carer providing lifelong care for her adult son, Kevin, who is disabled. Struggling with essential bills and overwhelmed by financial anxiety, Rhian received  in-person support from the Money Matters team at CTCWW. She then successfully applied for Pension Credit Guarantee, boosting her income by £3,268. She also gained access to Council Tax Discount, Warm Home Discount and Free TV License, among other things, that meant she was over £10,000 better off.

“You have turned my life around,” she said tearfully. “This would never have happened without you. I can’t thank you enough.”

Rhian now feels confident and financially secure, with a better understanding of her entitlements and how to manage her finances going forward.

Take Action This Financial Planning Month

Financial Planning Month is the perfect time to take stock of your financial wellbeing. If you're an unpaid carer in Wales, support is available to help you manage your money, reduce stress, and build a more secure future.

Reach out to your local carers organisation to learn more about the Carers Support Fund and how it can help you. Whether you're facing immediate financial hardship or simply want to improve your financial literacy, there are resources and people ready to support you.