The Building Blocks of Financial Wellness

Track money going out and coming in, including earnings from employment, federal or state benefits, the VA Program of Comprehensive Assistance for Family Caregivers stipend, and pension or retirement income. If you’re spending more than you’re bringing in, find ways to balance your budget.

Unexpected things happen to everyone, but for caregivers, these events combined with existing challenges can create serious financial setbacks. Having an emergency fund set aside to repair a flat tire, fix a broken washing machine, or cover unplanned medical expenses is a powerful way to ease stress and provide peace of mind.

Unexpected or shifting circumstances can leave caregivers facing serious – and often urgent – financial decisions. Learn how using credit and debt can affect your ability to borrow, rent a home, or gain employment. A strong credit reputation has a positive impact on your financial wellness.

Insurance coverage helps protect your health, life, property, and your loved ones’ future. If you care for someone else, it’s especially important to be proactive in setting up these protections.

While managing your day-to-day finances and caregiving responsibilities is key, it’s also crucial to prepare for the future. Depending on your situation, this could mean saving and investing for retirement or going back to school. Begin working toward longer-term goals today.

Being a caregiver means constantly managing your loved one’s condition and needs. While planning for their current and future needs, make sure your estate planning needs are taken care of too. Put key legal documents in place to secure the legacy you want to leave behind.