Whilst you are in care you will get pocket money every week. Your carer may give you some of your pocket money weekly or may give it you when you need it. This will be written into your Care Plan.
You carer will encourage you to save some of your pocket money every week.
If you are living with your parents they will choose whether they will give you pocket money and how much.
It is good to save either for something you really want – such as a games console, something you want to do – such as going somewhere special, or savings for your future. Getting used to savings when you are younger is important and a skill that helps you when you are grown up.
Whilst you are in care your carer will:-
- Open a savings account for you
- Save weekly for you
- Teach you how to manage your money
- Talk to you about savings. You can make savings out of your pocket money. You may want to put this into your bank account or into a piggy bank or jam jar.
Remember it is good to save.
If you are in care for more than a year Children’s Services will also make some long term savings for when you are grown up which you will get when you are 18.
- Try not to spend it all at once.
- Think about what you may want to use the money for now and in the future.
- This money is to help support you in adulthood.
Whilst you are in care your carer will get money to make sure you have the right clothes, for you to keep for:-
- Home / going out
- Activities you may take part in
They will also make sure you have certain clothes you need to practice your religion or faith.
As you get older it may be decided you can be responsible for buying some, or all, of your clothes. If this is agreed it will be written into your Care Plan. This is one way you can learn how to manage money.
If you are living with your parents it is up to them to make sure you have the right clothes you need.
If you have special or favourite clothes you want to keep to remind you of something special let your carer know and they will be kept for you.
Whilst you are in care your carer will try and make sure you keep up hobbies or activities you did before you came into care…. if you still want to do them. They may also encourage you to try new activities or hobbies.
This will also be discussed as part of your Review and your PEP meeting.
If you want to take up a hobby or activity ask your carer or social worker and they will try and make this happen.
If you are living with your parents it is up to your parents to help support you in getting involved in hobbies or activities.
Managing your money is important because it helps you:-
- Get into the habit of saving regularly. It is amazing how quickly even a small amount each week can add up.
- Buy or doing something special you would not normally be able to afford.
- Learn to make the best decisions you can about your money.
- Prepare you for when you are an adult and are living independently.
To find out ways to help you learn to manage your money:-
- Look at these workbooks
If you would like hard copies of either workbook, please contact us.
If you want to go to university, Children’s Services will provide financial support.