Leaving care?

Care leavers – your finances

A young male supermarket shopping and looking on phone

We want to support you to manage your finances as this is an important part of becoming independent.

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 (GOV.UK).

Claiming benefits

When you turn 18 you may be entitled to claim benefits. If you are entitled, your PA will attend an appointment at DWP with you to start your claim for Universal Credit (UC). Where possible, this visit will be arranged prior to your 18th birthday.

The DWP are creating specialist roles in each of their offices for staff who will have a detailed understanding of the needs of care leavers. Once you have made your claim, you can nominate an office where you want to have your future appointments and this can be the one most local to you, or it can be at Thrive or a Youth Hub. 

Your PA will support you if you are unable to claim benefits for any reason, and may be able to offer a temporary allowance while your claim is being processed.

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.

They will also provide you with advice on managing money and bills and can help you draw up a budget.