4 Tips To Keep Little Luxuries in Your Budget While Caring for a Loved One
When you’re caring for someone you love, your time, energy and, yes, your budget often go straight to them. It’s a beautiful act of love, but it can also mean putting your own wants and needs on the back burner. In fact, new research from Edward Jones revealed that half (51%) of caregivers have had to cut back on personal spending due to their caregiving responsibilities.
Still, small joys matter. Whether it’s your favorite latte, a good-smelling candle or a monthly streaming binge, those little luxuries can go a long way in keeping you grounded, and you don’t have to give them up completely.
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Here are a few smart, doable tips to help you hold on to those mini indulgences while still showing up for the people who need you most.
Review Expenses Every Quarter
One way to make room, according to Moti Gamburd, CEO of CARE Homecare, a Southern California home care agency that specializes in Alzheimer’s and dementia home care, is to review recurring expenses every quarter.
He helped a client go through her spending and found duplicate subscriptions and a cellphone plan that didn’t match her needs. That gave her around $90 back each month. “She used it to get a monthly massage and some high-quality coffee beans she loved. It’s small, but it gave her a way to recharge, and stay committed to caring for her mom,” he said.
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Factor Them Into Your Budget Ahead of Time
Dennis Shirshikov, professor of finance at the City University of New York and head of growth and engineering at Growth Limit, recommended beginning by pinpointing one or two of those little luxuries that are most enhancing to your well-being and consider them fixed costs — no less optional than rent.
Categorize them in your budget as “restoration” or “resilience” rather than “entertainment.”
“That reframe, in and of itself, frequently changes whether people cut it under pressure,” he said.
Look Into Benefit Programs
Shirshikov noted that in some cases, many states provide caregiver stipends, tax credits or respite grants that can leave the caregiver with a few hundred dollars a month.
He even assisted one client in accessing a Medicaid waiver program that allowed him to be paid for his caregiving hours, thereby freeing him up for routine therapy and gym visits. These “luxuries,” per Shirshikov, “kept him emotionally and physically fit enough for long-term care.”
Indulge In Small Things Automatically
You can spend less than $20 on a monthly delivery of fresh flowers or a subscription service for coffee, but the psychological benefit of having something beautiful and consistent has long legs.
In the midst of caregiving — when your days might feel unpredictable or emotionally draining — something small but reliable can act like an emotional anchor. That bouquet on the table or that first sip of artisan coffee in the morning becomes more than just a treat; it’s a reminder that you still matter too.
“What counts is continuity and permission granting yourself the right to feel joy even in a season of service,” Shirshikov said.
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