Care leavers - your finances
Setting up a bank account
Your PA will help you open a bank account and apply for a National Insurance (NI) number. They will also and give you advice on managing money, bills and budgeting.
If your immigration status prevents you from setting up a bank account we will talk to you about other ways to manage your money.
Help to Save account
If you’re getting tax credits or Universal Credit, you could be eligible to join the government’s Help to Save scheme and get back an extra 50p for every £1 you save. You can find out more about Help to Save on GOV.UK.
When you turn 18 you are entitled to claim benefits. You should be able to claim Universal Credit if you need to. Your PA should be able to help you make a claim.
Help in a crisis
If you need financial help in a crisis we, the leaving care team, can offer you the following help.
- When your benefit claim is being processed we may give you a temporary allowance.
- If your benefits stop for any reason, we can help you get your claim restarted and give you food vouchers or a temporary allowance while your case is being looked at.
Building a good credit history
We will encourage you to avoid bad debt and instead develop a good credit history. Using a credit union we can help you establish a good credit history.
Please let your PA know if you are having trouble paying your bills. We may not be able to resolve all your money issues but we try to help reduce the risk of you getting into further debt.
Your PA will put you in touch with us, the leaving care team, or you can contact us directly if you need extra support.