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Choosing to foster is a wonderful thing to do, but it is also a big life decision! No one decides to foster overnight, there is a lot to consider and it is always important that you understand the role and are ready to take on the challenge. When many people think about beginning to foster, one of their first concerns is money. This is completely understandable, everyone needs to earn enough money to put food on the table and make a living.
Family Fostering Partners consider our foster parents as part of the team and their role is part of their professional career in the social care industry. We understand the many challenges that may arise through fostering, parenthood is no easy feat! To ensure that our carers are well-looked after and that the children they provide for are happy and cared for, we pay all of our carers in Wales a competitive allowance.
The fostering allowance that you receive is calculated per child per week. You are paid an allowance for each child under your care. The amount varies depending on the complexity of the child’s needs. We recognise that children with more advanced care needs will require more time and dedication and this is reflected in the payments. The allowance we pay is intended to cover every aspect of that child’s care. This includes basic needs such as food, toiletries and clothes but is also intended to pay for leisure activities such as pocket money, holidays, toys and lunch money. The allowance is for the total care of the child plus all the little treats you expect to give to children under your care!
We also understand that fostering takes time, dedication and skill. That’s why all of our foster parents are paid a professional fee on top of the allowance. We recognise that fostering can be a full-time job and it provides a valuable service to the community. This additional money recognises the value of your role and the hard work all of our foster parents put into providing the very best care for looked after children. Money is paid directly into our carers’ bank accounts on a fortnightly basis.
Something else to consider when applying to foster is that carers receive certain tax relief benefits from HMRC. The exact benefits and relief will be dependant on your individual financial circumstance, family and living conditions. As you will be classed as self-employed when you work for us, there are certain welfare benefits you can apply for. All of these options will be discussed with you during your application process.
What’s most important to remember is that if you feel a true desire to foster children, don’t let concerns about the financial aspect of the role put you off! Any past difficulties with money and finance will not negatively affect your application. Please get in contact to discuss becoming a foster parent, any worries or concerns you have can be discussed with our professional team who can offer advice and guidance. Give us a call on 03300 948816 or drop us an email to email@example.com.
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