Fostering and your Finances: What You Need to Know - Changing Futures Fostering

Fostering and your Finances: What You Need to Know

At Changing Futures Fostering, we believe that every child deserves a loving and supportive home, and we work hard to provide the necessary help, guidance, and support to our foster parents to make that happen.

Our amazing team are dedicated to providing fantastic support to every foster parent, and we take pride in being 100% locally based. We understand that fostering can be a challenging experience, and that’s why we are committed to providing foster parents with all the support they need.

One of the things we feel is really important is being open and transparent about why finances are an essential part of fostering. Foster parents often leave their job roles to become full-time foster parents, or have only one member of the household with a full-time job, and this can lead to financial instability. That’s why we offer financial support to our foster parents to help them provide the best possible care for the children in their care.

You don’t foster for money, but you do need money to foster

The financial support is made up of the foster parent fee, the foster parent allowance and additional holiday payments. Depending on the age of the child you’re caring for, the financial support ranges from £418-461 per week per child (pretty decent, right?). And if you don’t end up using your short break care, you can get that as a lump sum at the end of the year.

You can find out more about what we offer here 

Of course, we know that fostering isn’t just about the money. But we also understand that it’s an important factor to consider when taking on this role. So we make sure our foster parents get a fair allowance to help cover the costs of looking after the child in their care.

At Changing Futures Fostering, we’re all about providing our foster parents with the support they need to really make a difference in a vulnerable child’s life. If you’re interested in learning more about how we can help you on your fostering journey, send us an email admin@changingfuturesne.co.uk to talk to our brilliant fostering team!