Introduction
Caring for a loved one can be overwhelming, especially when the costs of professional caregiving services pile up. But it doesn’t have to be this way. With a little creativity and community support, you can piece together your budget-friendly elder care team without being out of reach or stretching your budget thin. This guide will help families and caregivers build a support system that combines paid and volunteer efforts to provide comprehensive care. If you were to pay for 24 hours around the clock care for an aging loved one at home, the cost would be in the ballpark of $2500 per week. That’s a lot. What can we look at to provide care but be more budget-conscious?
What is a Care Team?
A care team consists of individuals who come together to provide various forms of support and assistance to someone in need. This might include family members, friends, neighbors, and professionals, each offering their unique skills and time to create a comprehensive care plan.
Why Build a Budget-Friendly Care Team?
- Cost Savings: Professional caregiving can be expensive. By incorporating volunteer help, you can significantly reduce costs.
- Personalized Care: A team that knows the person well can offer more personalized and compassionate care.
- Community Support: Building a care team fosters a sense of community and shared responsibility.
Practical Tips for Assembling a Care Team on a Budget
Determine your Costs and Your Budget:
Start with Your Resources:
Monthly Budget Calculation
- List All Sources of Income:
- Social Security benefits
- Pension
- Personal savings
- VA Benefits
- County Resource Programs. You may qualify for some free or low-cost services with low co-pays
- Civic Memberships such a Moose Club, VFW, etc. that may have programs or may have people donating time.
- Long Term Care Insurance
- Track Monthly Expenses:
- Medical expenses
- Groceries
- Utilities
- Transportation
- Calculate Net Income:
- Subtract total expenses from total income to determine your monthly budget.
4. Other Financial Resources that can Help Pay for Services:
- Long-Term Care Insurance
- Aging Resource Center/County Government Resource Agency. Can qualify for free or low-cost services. Some may be income dependent. Some programs may also allow payment to family members to provide care.
- Discuss with Financial Planning Expert and Estate Planning Attorney for financial resources and funding caregiving resources.
- Retirement Fund
Steps to Develop an Emergency Fund
- Set a Savings Goal:
- Aim to save at least three to six months’ worth of expenses.
- Create a Savings Plan:
- Allocate a portion of your monthly budget to your emergency fund.
- Automate Savings:
- Set up automatic transfers to a dedicated savings account.
Checklist for Monthly Budget Calculation and Emergency Fund Planning; What types of care are needed? What tasks need to be completed? What can be delegated? What types of services must require payment? For more details, consider getting some of our free resources such as “Delegating Caregiving Tasks”
1. Identify and Engage with Local Community Resources
Look into local churches, community centers, and neighborhood groups for potential volunteers. These organizations often have members willing to contribute their time and skills.
2. Utilize Technology and Social Media
Create a Facebook group or use apps like Lotsa Helping Hands to organize and communicate with your care team. Local community online groups such as “NextDoor” can also be helpful in staying connected to your neighborhood resources.
3. Create a Shared Calendar
Use tools like Google Calendar to coordinate care activities and ensure there are no overlaps or gaps in coverage.
4. Establish Clear Roles and Responsibilities
Ask each team member what their strengths are and assign them tasks that align with their skills and availability.
5. Consider Respite Care Services
Look into affordable options like respite care services or adult day care centers for part-time professional support. Our Free Guide: Thrifty Caregiving: A Budgeting Guide for Family and Elderly Caregivers goes into this in more detail you can grab yours HERE.
6. Leverage Government and Non-Profit Assistance
Many government and non-profit organizations offer financial assistance or subsidies for caregiving. Check with your local county aging service or the ADRC. Don’t forget about VA services for those loved ones that are veterans. Contact your local VA for an intake specialist to determine what resources may be available. Many people forget about this very valuable resource.
7. Foster Open Communication
Regular check-ins and open communication will help address any challenges and adjustments needed in the care plan. Plan for some activities such as a monthly “potluck” to build camaraderie amongst those caring for your loved one. Many hands make light work.
8. Encourage Non-Monetary Contributions
Family and friends can help in various ways, such as providing transportation, running errands, or preparing meals.
Real-Life Success Stories
Mrs. D’s Care Team
In our rural community, Mrs. D’s care team included neighbors, church members, and family. They organized a meal train, provided transportation to medical appointments, and offered companionship. This collaborative effort allowed Mrs. D to stay at home, surrounded by familiar faces.
Mr. B’s Support Network
Mr. B had chronic obstructive lung disease and needed extensive care. His large family, neighbors, and a hospice agency came together to provide the necessary support. This volunteer-driven care team ensured he could spend his final days at home, receiving the care he needed.
Conclusion
Piecing together a care team on a budget is entirely possible with the right approach and resources. By leveraging community support, technology, and clear communication, you can create a comprehensive and compassionate care plan for your loved one.
Join Us
Join our community for support and advice. Connect with others facing similar challenges and share tips, resources, and encouragement.
Building a care team doesn’t have to break the bank. With a little creativity and community effort, you can provide high-quality care for your loved one without the high costs. Ready to start building your budget-friendly care team? Join our community today for support and advice! If you would like us to come along side you and help with this planning process, consider a free 30-minute consultation and walk away with a couple of action items you can put into use right now.
Thanks for spending some time with us today. We know you are busy, and we will continue to bring value worth your time.
Take care and we will see you back here or in our community soon,
Pam and Linda
Your Nurse Advocates
“Compassionate Care for Aging Parents, Peace of Mind for the Adult Children”
Resources:
Free Weekly Newsletter Packed with Stories and Guidance for Senior Care
Delegating Caregiving Tasks Checklist and Guide
Your Nurse Advocate Free Resources
Blueprint for Building a Care Team on a Budget Boot Camp
