S3|E19: Financial Realities of Caregiving in America

In this episode, Dani and Kim are joined by Jin Woo Chung from the Financial Health Network to explore the financial realities of caregiving in America. For many workers, stepping away to care for a loved one means an immediate loss of income alongside new caregiving expenses. With many households already stretched thin, even a short leave can create significant financial strain.We discuss the difficult tradeoffs caregivers often face, from reducing discretionary spending and retirement contributions to delaying preventive healthcare. Jin Woo also examines the uneven access to paid family leave, why many workers don't use available benefits, and the barriers that continue to leave caregivers vulnerable.The financial impact of caregiving often extends long after leave ends, affecting savings, debt levels, and future earnings. We also explore the role of programs like Medicaid and why stronger support systems are critical for helping caregivers balance family responsibilities without sacrificing their long-term financial well-being.Read the full brief here: Essential Benefits: Paid Family Leave | https://finhealthnetwork.org/wp-content/uploads/2026/04/Essential-Benefits-Brief-2025-Paid-Family-Leave.pdfJoin our podcast community: https://podcasts.apple.com/us/podcast/life-money-you-podcast/id1636521227Learn more about membership with BCU: https://www.bcu.org/member-resources/join/membership-eligibilityYour host: Dani Buschick, Program Manager & Certified Financial CoachLife. Money. You.® | Helping people discover financial freedom with one-on-one coaching and digital solutions. | Subscribe @ LifeMoneyYou.com Today