Background: Hospitalization is a distressing experience, which can negatively impact the quality of life of the patient's family members. Hospitalization may invariably cause an additional financial burden as well. Objectives: Assessment of financial, psychosocial, and physical burden among parents and siblings of paediatric inpatients at Colombo South Teaching Hospital (CSTH). Methodology: A descriptive cross-sectional study was conducted using a structured interviewer administered questionnaire with standard assessment scores. 200 participants were recruited using consecutive sampling between December 2025 to February 2026 from the parents of inpatients at CSTH. Data analysis was done by SPSS version 25. Results: Only 42% of respondents were employed, of whom 51.5% had unpaid leave. Mean expenses during the past 24-hours was LKR 1778.38 (SD = LKR 1502.96). 79.5% of parents felt emotionally drained and 68% experienced anxiety or sadness. 62% had overall poor sleep and 40.5% reported having less than 2 hours of sleep. Fatigue was reported in 47% and back pain in 32.5%. 65% of patients had at least one sibling, 87 .8% of them were under the care of the other parent or grandparents. 15.02% of siblings were reported to have missed school. Conclusion: Most parents of hospitalized children experience physical and psychological exertion during their child’s hospitalization. Despite free healthcare, families face an added financial burden from transport costs and purchase of meals. Siblings are considerably less affected than the parents, but needs further studies.