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Managing financially as a single carer

(6 Posts)
Chocolatesponge Wed 04-Feb-15 14:01:35


Are there any single FC out there who could advise me on finances, please? I would be leaving a well paid job to foster full time, so i'm not doing this for the money, but need to know i can pay my mortgage etc.

My LA pays a fee on top of an allowance, but even that does not seem like it would cover the cost of bills plus looking after children, yet i could not work part time as the only carer.

IFA - do they all pay a fee/retainer, even when you are between placements?

I'm thinking that long term care might be a more manageable option so then i know i have an income. I have 0-10 in mind and would welcome siblings.

Grateful to hear any experiences on how you cope financially if you're a single carer, please.

scarlet5tyger Wed 04-Feb-15 15:56:36

My LA is one of the lowest paying in the country but I manage financially if I have two children. You may be entitled to benefits if your allowance is small like mine.

If you're going to be relying on the money to pay your mortgage then be aware that lots of local authorities aren't using IFAs at the moment because of the cost. There could be very long waits between placements, especially if your upper age limit is 10.

You're more likely to have full beds with your LA - I know mine are always looking for carers who'll take siblings.

Pancakeday Wed 04-Feb-15 16:16:08

I'm a carer for an IFA. It's true that between placements we don't get paid. However, the IFA that I work for have a special scheme for those who wish to foster 'sole placements' - these tend to be difficult placements who have previously been in residential care and need one to one care. Please pm me if you would like some more info on this. THis is a salaried role.

Chocolatesponge Wed 04-Feb-15 17:01:17

Thanks so much ladies, you've been really helpful.

scarlet5tyger, full beds over a higher rate of pay "on the face of it" maybe the way to go...i will talk to my LA about this and see what their feelings are about how often i will have theory.

pancakeday, thanks for the info on the salaried role. Not one i had heard of before. I will think it over and pm you if i need more details, but i don't think i have the experience necessary yet to give the care needed to a very difficult placement.

queststarz Fri 06-Feb-15 11:28:15

I'm a single carer, have given up teaching to foster. I did go part time for the first 2 years. I also saved so if I didn't have a placement I'd have enough to cover my mortgage, bills etc for a few months. I love fostering but it's true you can wait for a placement (unless you'll take teenagers then you'll get plenty of offers) but I found I suited primary aged children better.

Feel free to pm for more details/any questions.

Chocolatesponge Fri 06-Feb-15 16:23:54

Thanks queststarz, that's really kind of you. I'm sure i will gather more questions as i look into this. Have being doing lots of sums to see how i could get by without placements - i do have some savings as well.

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