Care leavers | Managing your money
It is important that you have a bank account and you know how this works. If you don’t have a bank account we will support you to set one up.
National insurance number
We will apply for a national insurance number for you. When you have your national insurance number it is really important that you look after this information and keep it safe.
Benefits can be made before your 18th birthday. Your personal advisor will attend the first meeting where the contract of expectations is drawn up and you are provided with your journal.
We have a direct link with the Job Centre Plus and an agreement that they will work with us to ensure a clearer process for care leavers. When you make your first claim you will need to tell them you are a care leaver to make this happen.
Setting up home allowance
The setting up home allowance is all about helping you set up home. The maximum of this allowance has been increased to £2,000. This money can be used for the first month’s rent and your first television licence. The other kind of things you will need to buy are:
- cooking equipment
- window covering
- a television
We will plan with you how this money will be spent so you can get the best value for money.
Young people told us they did not like using council order forms to buy their goods because there is limited choice and the order form identifies them as requiring council support. As a result personal advisors will have access to other payment methods.
We will also give you one mobile smart phone so you can keep in touch with all your important links.
It is important you work with your leaving care worker about how you will spend this allowance. They have lots of experience in how to make your money go further.
A discretionary allowance is another way for us to give you some extra money when you need it. We do not have to do this by law, but we usually give you this allowance for:
- Birthdays: £40 for all in independence. This will stop at the age of 21.
- Christmas or festival: £50 to be paid in December or goods to the value depending on your situation. This also stops at the age of 21.
We will purchase one smart phone for you, up to the value of £100.
To live independently it is really important that you understand how money works and we can help you with this. From an early age we encourage carers to help you learn about budgeting. If you need any extra help, just ask.
- Barclays life skills – Budgeting and planning for the future
- Natwest home learning
- Money advice service
Children in care and new futures team, Civic Offices, Knoll Street, Cleethorpes, North East Lincolnshire, DN358LN
Contact us: Care Leavers support request
Telephone: 01472 325232