Budgeting Guide: Financial Planning for a Live-In Caregiver

​By Xedge Resource Team | Updated March 2026

Hiring a live-in caregiver is a significant financial commitment, but with proper planning and knowledge of available government subsidies, it can be more affordable than many families expect. This guide helps you plan your budget and make informed decisions. When budgeting for a live-in caregiver, you need to account for the one time setup costs and the recurring monthly costs.

One Time Expenses - Setup Costs

• ​Agency Fees

The Agency fees cover the sourcing of suitable candidates through meticulous interviews and document checks, scheduling and overseeing of interviews, and post-selection logistics and admin work to deploy the selected caregiver to the employer. Contact us for the current rates.

• Medical Insurance / Bond

Covers the medical insurance for the 24 months contract (~$645 for 24 months and the MOM Security Bond)

• Pre-deployment Medical
• MOM Work Permit
• MOM Settling-In Programme (if required)
• Embassy Documentation (if required)
• ​​Training Costs
  

The caregiver should be equipped with basic skills to care for the elderly through their experience and/or training. Should you want to send your caregiver for specialized training for conditions like dementia, Alzheimer’s etc., you'll incur additional one-time costs for courses and certifications. This training ensures that the caregiver can provide the highest quality of care, but it is an expense that should be planned for.

Monthly Recurring Costs

Salary
The salary of a live-in caregiver can differ depending on the experience, expertise, qualification, language abilities and the range of duties involved. This salary can range from $650 to $950.

Levy
Besides the monthly salary, a monthly levy is imposed for the hiring of foreign domestic workers / caregivers. The amount varies based on whether the employer is eligible for the levy concession. If the criteria are met, you can get a concessionary rate of $60 per month. This is a recurring expense that is independent of the caregiver’s salary. 

​Food / Outpatient Medical
Daily sustenance for the live-in caregiver, including meals need to be catered for. In the event that the caregiver requires to seek outpatient medical treatment, the employer needs to pay for the treatment.

Government Grants and Subsidies

There are cetain grants to support your loved ones who meet the various criteria, which include
(1) Home Caregiving Grant (HCG)
(2) Caregivers Training Grant (CTG)
(3) Pioneer Genertion Disability Assistance Scheme (PioneerDAS)
(4) Eldershield and 
(5) Careshield Life​.

​Please refer to the Agency of Integrated Care (AIC)'s website for the details of these grants.

Budgeting Tips: How to Plan Financially

​Set Up a Dedicated Caregiving Budget
It’s a wise move to establish a separate caregiving budget. This account should encompass all expected expenses of the care recipient and the caregiver—both one-time and recurring—as well as a cushion for unexpected costs.

​Regularly Review and Adjust
Financial planning is not a one-time activity. The needs of the person receiving care can change, as can medical costs, insurance rates, and even governmental fees. Make it a practice to review your budget regularly to ensure it aligns with the current needs and costs.

Conclusion: Navigating Financial Responsibilities

​Understanding the financial responsibilities involved in hiring a live-in caregiver is crucial for effective budgeting and setting realistic expectations. The key is to be prepared, anticipate the ongoing costs, and manage your finances proactively. With careful planning, you can ensure not just the best care for your loved one but also a stress-free experience for yourself.