Managing your Finances for Care Leavers

Managing your Finances for Care Leavers

Managing your finances is an important part of becoming independent. Your PA will help you to manage your money and understand any benefits you may be entitled to.

There are several different sources of financial support that you are entitled to as a care leaver.  The amounts that you will receive will vary depending on your circumstances and legal status. We will provide you with financial advice and support to help you to prepare for independent living and to know how best to manage your money.

Universal credit

If you are 18 years or older, you may be eligible for Universal Credit provided you are unemployed and actively seeking work, or working less than 16 hours a week. This requires you to demonstrate that you are actively searching for a job and make yourself available for job interviews and appointments. 

You will need to attend Job Centre appointments (usually every two weeks) to evidence your efforts towards actively seeking for a job opportunity. Part-time college students may also qualify if they are available for work.

Universal Credit is a monthly payment, so careful budgeting is essential to cover all your expenses. 

If you're concerned about paying your rent on time, you can request an Alternative Payment Arrangement to have the housing component paid directly to your landlord. This would help you not to get behind with your rent payments. This arrangement needs renewal every three months and has certain requirements. Your PA can assist you with this matter. We are here to support you in solving your problems, addressing your worries, helping you with money management, and informed decision-making.

Universal Credit can also unlock other benefits, such as free prescriptions, NHS dental check-ups and treatments and eye tests (confirm with your provider). Discounts are also available for council tax, broadband internet (check Ofcom for social tariffs), and utilities (discuss these with your Job Centre work coach).

It is your responsibility to communicate with the Job Centre and update your online journal if you receive Universal Credit. If you miss appointments and don't speak to the Job Centre about this you may be sanctioned. This means that you won't receive a full payment of your Universal Credit for the month which may impact on your budgeting for the month. If you receive a sanction you can challenge this decision and ask for it to be overturned. You can ask your Social Worker or Personal Adviser for support to do this.

You might find using the Money Advice Service Budget Planner [External Link] helpful in learning how to budget and manage your finances.

Visit the NHS website to check what help you could get to pay for NHS costs [External link].

Ofcom provides information on Social tariffs, including cheaper broadband and phone packages. Visit the Ofcom website [External link].

You can also use the Benefit Entitlement Checker [External Link] to find out more information about which benefits you may be entitled to.

Jigsaw4u is an organisation to support care leavers. This is an additional support outside of your leaving care support. They can help you sort out your housing situation and day-to-day life if you are between 16 and 25 and have experience of being in care. They offer one-on-one practical and emotional support, so you can become more independent. Ask your PA to refer you, or you can refer yourself directly by completing the online referral from [External link].

020 8687 1384 or info@jigsaw4u.org.uk