Financial guidance from the Leaving Care service
It’s important that you are financially stable so that you can live your life comfortably. Managing money is a skill and everyone needs help to learn.
We are here to help you understand what finances are available to you and how to budget. Our focus is to support you to get to a place where your finances are stable, you have a steady income and you can pay for the things that you need…as well as having some left over to do things you enjoy!
What you can get depends on your circumstances, including things like:
- your age
- education or employment status
- if you have a disability or additional needs
- whether you’re pregnant or a father expecting a child
- if you’re seeking asylum
- your ‘legal status’ as a care leaver
You will go through this with your social worker and personal advisor (PA). They will make sure you get the right support.
What we will do
From age 16, you will complete a Needs Assessment and Pathway Plan with your social worker. After you turn 18, you will complete this with your personal advisor.
The assessment includes a section about independent living skills, including managing your money. In this section, we will agree actions based on your needs. We will also identify who will help you learn about money and finances, and tell you about other services that can support you if you need extra help.
Your personal advisor will attend your first Child Looked After Review and make sure we support you to develop these skills.
Barclays LifeSkills
Your PA will also tell you about Barclays LifeSkills. This is a free programme that helps young people build financial and employability skills. You can access it until you are 25 years old.
Your PA can support you to complete the workbook and make the most of the programme.
The workbook covers:
- budgeting and planning
- staying safe online when managing money
- salaries and payslips, including
- tax codes
- pensions
- National Insurance numbers
- borrowing money
- credit ratings
- ways to save money
- rent and household bills
- comparing different accommodation options
Find out more about Barclays LifeSkills.
If you're worried about money
If you are finding it hard to manage your money, talk to someone as soon as possible. You can speak to your:
- social worker
- personal advisor
- keyworker
- foster carer
- staying put carer
- supported Lodgings provider
You can also talk to any other trusted adult.
We will work with you to find the right support. This could include one-to-one help and referrals to other services.
You do not need to manage this on your own, and you do not need to worry about asking for help.
Other financial help
Make sure you look at the rest of our financial section to find out about the other help you can get with benefits, education, housing and so on.