Foster care allowances are intended to cover the basic needs of a child in your care, but the reality is that the money available under foster care allowances is often insufficient to cover all of a child’s needs.
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A budget of around £50-£150 for initial clothing for a child, followed by an ongoing monthly sum to purchase additional clothing and personal items. A child joining a school halfway through the term will require a complete school uniform, PE kit and stationery all of which will need to be purchased at the point of a child’s arrival.
Activities and Outings
Many foster carers spend money on various activities with the young people in their care, including trips out, sports clubs, swimming lessons, clubs and groups of all kinds, as well as paying for friends’ birthday parties. It is common for carers to spend around £30-£50 per month on these types of activities.
Bedroom and Equipment Costs
A child cannot arrive at a home with a bare room so initial costs for bedroom furniture, equipment and personal touches would be around £100 to £300 for a first placement.
Transport and Mileage
Foster carers often take their foster children to school and to contact with their natural parents and other relatives as well as to hospital and other appointments. Many agencies reimburse foster carers for the mileage that they travel but the rates are often low and do not take into account the cost of fuel. As a result, many foster carers include the cost of their mileage in their household budget from the outset.
Reduced Income
Many foster carers reduce their hours or even cease paid employment in order to care for children, particularly younger children and those with additional needs. When looking into fostering it is therefore advisable to calculate the costs of fostering using the lowest amount for the type of placement and child’s age in order to ensure that your household finances can sustain the decrease in income. The foster care allowance is treated differently for tax purposes than normal income and GOV.UK sets out how this is calculated as well as when foster carers may qualify for care relief which can reduce their tax liability.
If you are looking for Foster Care Newport, see saferfostering.org.uk/foster-care-wales/newport.
Being able to go into this with some clear numbers makes it all seem so much more manageable!