If your parents are getting older and starting to need more help — emotionally, physically, or financially — you’re not alone. Millions of adults find themselves supporting their parents while trying to maintain their own financial footing.

I’ve been there myself. And I can tell you firsthand, it’s not easy.

About 60% of adults who help aging parents end up going into debt, and nearly 40% admit to feeling some level of resentment or frustration about it. Not because they don’t love their parents — they do — but because caregiving often comes with unexpected financial and emotional strain.

💰 When Love and Finances Collide

No one plans to go into debt helping a parent, but it happens. The reality is that as our parents age, their resources may not always stretch far enough to cover medical bills, long-term care, or daily living expenses.

It often falls to children — sometimes just one child — to step in. And when that happens, you can quickly find yourself using credit cards or pulling from savings to fill the gap.

If you’re in that position, take a breath. There are ways to manage this season of life without derailing your own financial future.

🧭 Find Support Through Local Resources

A good first step is to contact your local Council on Aging. These organizations are a lifeline for families navigating elder care.

They can connect you with:

• Adult day care programs to give you breaks while ensuring your parent receives care
• Financial assistance programs that can offset medical or living costs
• Community networks and support groups for caregivers

You don’t have to figure this out alone — these councils exist to help you find the right mix of resources and support for your family’s situation.

🧾 If You’re Carrying Credit Card Debt to Help Your Parents

If your efforts to help have pushed your credit card balances higher, reach out to your credit card company. Many issuers are willing to negotiate reduced payments or lower interest rates, especially if you explain your circumstances.

Don’t wait until the balance feels unmanageable — act early and advocate for yourself. Every small step you take to stabilize your finances will help you provide more sustainable support for your parents.

👨‍👩‍👧 Share the Responsibility

If you have siblings, don’t shoulder this alone. Have an open conversation about how everyone can contribute — financially, emotionally, or through time and caregiving duties.

Some may be better equipped to contribute financially, while others may live nearby and can assist with errands, transportation, or companionship. Shared involvement reduces stress and resentment — and strengthens family bonds during what can be a very emotional season.

❤️ Give Yourself Grace

Caring for a parent can be one of life’s most meaningful experiences — but it can also be one of the most draining. It’s okay to feel overwhelmed or conflicted. What matters most is that you create a plan that allows you to care for your parents and protect your own financial health.

Remember: asking for help doesn’t mean you’re failing. It means you’re being wise — for them and for yourself.

📍 The Bottom Line

You can’t pour from an empty cup. Helping your aging parents is a noble act, but it’s not something you have to do alone. Tap into local resources, manage debt proactively, and lean on family support.

And if you need help balancing your financial responsibilities while caring for loved ones, our team at Clarity Wealth can help you build a plan that supports both generations — your parents and your future.