Nov 6, 2026

5 Resources Gen Z Caregivers Should Consider To Offset Financial Obstacles

Gen Z’s caregiving burden could carry a surprising price tag.

Gen Z, born between 1997 and 2012, ranges from teenagers still in school to adults approaching 30. These are prime years for school, first jobs and career building, yet plenty of young adults are juggling all of that while caring for aging parents or grandparents.

Caregiving isn’t cheap, and the bill goes well beyond the pharmacy receipt. Lost hours, skipped promotions and savings that never got started can follow young caregivers for years. Fortunately, there’s help, and some of it is easier to find than you’d think.

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Caregiving Is Costing Gen Z More Than Time

One in four Americans provide ongoing care, according to a 2025 report from AARP and the National Alliance for Caregiving. While the average caregiver of an adult is 50.6 years old, 18% are between the ages of 18 and 34.

Those responsibilities take a serious toll, especially on younger caregivers.

A recent LogicMark survey found that 62% of Gen Z caregivers said caregiving cuts into their job performance and 50% said it damaged their personal relationships. Meanwhile, 90% of all family caregiver respondents showed burnout symptoms, with Gen Z feeling the biggest impact.

Many Gen Z are still in school or early in their careers and haven’t had as much time to build savings or establish any kind of financial security. As LogicMark CEO, Chia-Lin Simmons explained, young caregivers often carry these responsibilities without paid leave, a financial cushion or the support systems that older generations had time to build.

Beyond the Receipts: How Caregiving Hits the Wallet

Caregivers often cover transportation, food, medical supplies and other needs out of their own pockets. But the financial damage runs deeper than those out-of-pocket costs.

The AARP and the National Alliance for Caregiving report found that nearly half of family caregivers experienced at least one negative financial impact because of caregiving. About 31% stopped saving, 24% used up short-term savings and 23% took on more debt.

Caregiving also affects earnings. Among working caregivers, nearly half said they had gone to work late, left early or taken time off during the day to provide care, and another 18% cut their hours or moved from full-time to part-time.

For Gen Z caregivers, that can mean smaller paychecks, less money going into a retirement account and fewer chances to gain experience or move up. Early-career setbacks like these can be hard to recover from.

5 Resources To Ease the Financial Strain

Avoiding every financial consequence of caregiving isn’t realistic, but several resources can take some pressure off.

AARP estimates family caregivers spend about $7,200 per year on caregiving expenses, and the organization has urged Congress to create a federal tax credit to offer some relief. Until that happens, these options are worth exploring:

State Medicaid program: If you’re caring for someone who receives Medicaid, the state may allow a family member or friend to become a paid caregiver, according to USA.gov. Many states call this a consumer-directed personal assistance program, but every state sets its own rules and requirements.
Long-term care insurance: Some long-term care insurance policies let family members receive compensation for caregiving. Check the policy terms if the person you’re caring for already has coverage.
Paid family leave: Some states require employers to offer family leave programs, and some of those are paid. Eligibility, how long you can take off and the benefit amount vary by state.
Local Area Agencies on Aging (AAA): A local AAA may be able to help with counseling, care referrals, day care programs for older adults and meal deliveries.
Veterans programs: Three programs offer assistance to veterans: the Veteran-Directed Home and Community-Based Services program, the Respite Care program and the Aid and Attendance Benefits program.

Don’t Go It Alone

Caregiving is a lot, and it’s easy to assume you have to handle every bill, appointment and phone call yourself. You don’t. Start with your local AAA, check what your state offers and ask the care recipient’s insurer or benefits office what’s covered. Tracking your own expenses and hours now can also make it easier to claim any help you qualify for later.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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Written by

Josephine Nesbit

Josephine has covered a wide variety of topics like saving, investing, real estate, loans and retirement. Her work has been featured in national outlets, such as Rocket Mortgage, U.S. News & World Report, Homes.com and more, where she focuses on helping consumers understand how financial choices affect their long-term goals.

Edited by

Ashleigh Ray

Ashleigh is an editor specializing in personal finance and banking content, with four years of experience — first at GOBankingRates, then at MoneyLion — turning complex financial topics into advice readers can actually understand and use. She holds an MFA in Creative Writing from the University of South Florida and brings that same care for clarity and voice to every piece she edits. She's based in Tampa, Florida.