Giving up paid employment, whether permanently or through a reduction in working hours, will often mean adjusting to a lower income. It is important to consider all the financial implications before making any decision to reduce working hours.

It is helpful to contact an independent financial adviser (IFA) to get advice on your financial options. IFAs can assess your individual situation and recommend the best course of action.

You can find a local IFA by referral from family or friends, looking in your phone book, or by contacting the Personnel Financial Society or Independent Financial Advisers Promotions Ltd (IFAP).

As a carer you may be entitled to benefits or tax credits. This will depend upon your individual circumstances. The organisations listed in our financial issues section can help with advice on entitlements to benefits, tax credits and other sources of income.