Background In Ghana, where formal caregiving services are limited, unorganized caregivers play a vital role in supporting older adults, often at the cost of their well-being. Despite their significant contributions, this form of caregiving remains undervalued and unsupported, with its impact on caregivers' well-being still under-researched, revealing critical gaps in both understanding and policy.Objectives The study examined the relationship between caregiving and the well-being of unorganized caregivers in Ghana and explored how gender and the caregiver-care recipient relationship moderate this relationship. It also estimated the monetary value of well-being gains and losses associated with these caregiving tasks.Results Caregiving was significantly associated with reduced well-being among unorganized caregivers, with the greatest losses occurring in the physical and environmental domains. Male caregivers, supporting parents with household tasks, experienced more pronounced declines in well-being, while female caregivers were especially affected by providing mobility and errand support to partners and parents. In contrast, emotional support was positively associated with overall well-being, particularly in the social domain, with the strongest effects observed among those providing this support to spouses. For an average of 43.8 hours of care, providing an additional hour of caregiving resulted in a well-being loss valued at Ghanaian cedis (GHS) 62, representing 10.4% of the caregiver’s monthly income. Conversely, an additional hour of emotional support was associated with a well-being gain valued at GHS 97.Conclusion The findings underscore the need for tailored, task-specific, and gender-responsive interventions to support unorganized caregivers, especially in resource-constrained contexts like Ghana, where formal care infrastructure is limited.