Fostering

[simon]

Is been a foster career classed as a full time job ?

If you are looking after say two pre primary school kids and they live with you all year round.

According to .gov site that is 122.00 per week per child, that's 488.00 per month per child, that's 976.00 per month in total for both children.

How does one live ?

If the 976.00 per month is for the children, what pays the bills and mortgage / rent ??

~Beanie~

I wouldn't say it is a full time job any more than a person with two of their own natural children would be classed as having a full time job.

You would have to get a job in order to pay the bills and mortgage / rent, same as anyone else with 2 kids would do.

colino

If it is non-private fostering HMRC treats you as self-employed, but there are special reliefs for foster carers.
Please don't even look it up if you simply want to foster for the income.

shopaholicz

Hi Simon,

we've been foster carers since 2008 and it is a worry at the beginning about finances. Working families tax credits treats fostering money as an income, you only have to declare your profit, so this usually works out really well for most people.

Also, as previous reply from Colino says HMRC has really good tax relief for foster carers £10,000 per year plus £200/250 per week per placement before you have to declare any profit. So you would declare £0 income for wftc, giving you their maximum payments.

It's also worth looking around at different sources, ie local authority and private/independent fostering agencies, who all pay slightly different rates and all offer different support systems and training. You need to choose the one that you think will meet your needs better.

If fostering is something you really want to do to help children, go for it. But if you're thinking of fostering to pay the bills, it's sometimes not worth the stress.

My thoughts are that fostering, inviting strangers to come and live in your own home is way more stressful than being employed outside the home. You should only go for it if you really have a need to help.

Manchee

shopaholicz wrote: »

Hi Simon,

we've been foster carers since 2008 and it is a worry at the beginning about finances. Working families tax credits treats fostering money as an income, you only have to declare your profit, so this usually works out really well for most people.

Also, as previous reply from Colino says HMRC has really good tax relief for foster carers £10,000 per year plus £200/250 per week per placement before you have to declare any profit. So you would declare £0 income for wftc, giving you their maximum payments.

It's also worth looking around at different sources, ie local authority and private/independent fostering agencies, who all pay slightly different rates and all offer different support systems and training. You need to choose the one that you think will meet your needs better.

If fostering is something you really want to do to help children, go for it. But if you're thinking of fostering to pay the bills, it's sometimes not worth the stress.

My thoughts are that fostering, inviting strangers to come and live in your own home is way more stressful than being employed outside the home. You should only go for it if you really have a need to help.

What a great post, I totally agree with everything said here. OP, I used to work for an independant foster care agency (won't say here which one) and I've gotta say I've always thought it takes a specal kind of person to look after other peoples children (shopaholicz, foster carers don't get enough thanks I always think - how wonderful you do this!). If you are serious about fostering you need to realise you cannot rely on the income generated through fostering alone; children can and do move on, whether back to their own families, moving into adulthood and independance or onto adoption/another foster family, and you cant guarantee you would get a new placement straight away. Would you be a lone carer or do you have a partner who would support your family financially and emotionally?

Another thing to keep in mind is that many of these children come from unstable backgrounds, and many have suffered through either abuse or neglect or bad parenting (after all, children aren't removed from families for no reason...) which can mean a lot of hard work and a lot of love is needed to help them grow into happy and stable people. I've never fostered myself, but the magic foster carers can work, given enough time, is amazing.

I hope I haven't put you off with all I have written, I've been told caring for children is one of the most rewarding things you can do with your life, and I think its wonderful you are considering it :T

sweetilemon

I would say its much more work than having your own children. Training, meetings (theapists, social workers, school). Many companies will not allow the main carer to work. Money is often left to the carer to manage, the child must have a good living standard (no second hand clothes / out of date food). Pocket money is sometimes stipulated by the company, as are parenting techniques. Its not an easy ride - very hard work, but very rewarding.

[simon]

Me and my partner will be doing fostering together. However I may keep my part time job.

What happends if / when I don't have any children in my care or if I have have a decrease in children in my care, how do I pay my rent / bills ?

Will I get DSS ( housing benefit) will my rented property land lord need to accept DSS ?

Tiddlywinks

[simon] wrote: »

Me and my partner will be doing fostering together. However I may keep my part time job.

What happends if / when I don't have any children in my care or if I have have a decrease in children in my care, how do I pay my rent / bills ?

Will I get DSS ( housing benefit) will my rented property land lord need to accept DSS ?

So, despite all the really informative comments you've had above, you just choose to ask about money again.

Are you sure you're doing this for the right reasons or do you simply see those children as 'cash cows'?

shopaholicz

Have you chosen who you're going to foster with yet? Choices are your local social services department or an Independent fostering agency. I think it will depend on what funding level you get as to what benefits you'll be able to claim. Can you give us any more details?

Fostering isn't a stable income. I've had placements that have been moved within 2 days for different reasons and therefore the money stopped. You can't foster and rely on that money. I've even been months with no placements, as has every foster carer at some point, so no money coming in from fostering at all and you sat there wanting to help some child and not able to. You need to be able to survive on your existing income to be able to foster successfully.

Going through the fostering assessment process takes at least 6 months, and there is no guarantee how long it will be before you get your first placement.

Think you need to take it step by step and approach an agency or social services.

Let us know how you get on.:j

[simon]

Tiddlywinks wrote: »

So, despite all the really informative comments you've had above, you just choose to ask about money again.

Are you sure you're doing this for the right reasons or do you simply see those children as 'cash cows'?

Of course am taking about money, this is a money forum !!

I want to foster to help people, but I want to be secure my self also.

It's pointless me posting here saying how much I love kids or that I want to help. I'm here to talk about the money side of things and hear from people who already foster.

I keep my posts short and to the point. Unless you are the kind of person who likes to sit in front of computer for hours reading someone's life story...

[simon]

shopaholicz wrote: »

Have you chosen who you're going to foster with yet? Choices are your local social services department or an Independent fostering agency. I think it will depend on what funding level you get as to what benefits you'll be able to claim. Can you give us any more details?

Fostering isn't a stable income. I've had placements that have been moved within 2 days for different reasons and therefore the money stopped. You can't foster and rely on that money. I've even been months with no placements, as has every foster carer at some point, so no money coming in from fostering at all and you sat there wanting to help some child and not able to. You need to be able to survive on your existing income to be able to foster successfully.

Going through the fostering assessment process takes at least 6 months, and there is no guarantee how long it will be before you get your first placement.

Think you need to take it step by step and approach an agency or social services.

Let us know how you get on.:j

There's no rush, I know it takes a few months / year when applying.

An independent agency I think, it says they pay holiday pay / rest bite also to give us a break.

Not sure what other info you want to know ??