Do high-earners go into fostering?

[Surburbia]

Do many high-earners/graduates go into fostering?
I'd be interested to hear from other high-earning professionals who have given up their job to foster children. Is it essential for partner to still earn or do you live off your savings?
Trying to think about how this can work financially.
I'm aware that people say they don't foster for the money (and I can see why looking at the fees paid) however some lower earners obviously DO manage to live off the money - or do they work part-time?
Thanks

have pm'd you.

Thank you F0stercare - I've pm'd you back.

Hi, I'm interested in the same q as we're at the stage to take a drop to part time each or have one of us off completely after 10yrs in a graduate career track.
Can you fill me in too please? :)

When I first started fostering I would have found it impossible to survive on the money we got. Fortunately my husband has always worked but we did have a drop in earnings when I gave up my job to foster. But a couple of years ago a new fee system was introduced in my LA that means I’m probably earning more now than when I had a different job.

its roughly £55 per day per child and with allowances absolutely minimal - if any - tax to pay. Obviously there are the expenses of having a child. So two children equates to app 3k per month take home. Most people with two kids at home dont have two parents both taking home 3k net. A 48k paye salary would result in 3k take home pay (although you would also accrue benefits through your nat ins contribution.

My friend earned more in her career than she does now she's a foster carer. She also had evenings and weekends to herself!

@AmyandPhilipfan that means I’m probably earning more now than when I had a different job. please don’t call fostering a job and talk about “earnings” I can see from the beginning of your post money is not your motivation but it’s still not a nice way to put it.

I worked full time while fostering as a single mum Overall, fostering cost me thousands of pounds, once you add up the number of times we had to replace furniture/ redecorate rooms.

No regrets, but it was an expensive thing to do. For many children, the ‘allowance’ didn’t even cover activities and special diets, let alone damage costs

My mum fostered for quite a few years. She was single so would have found it impossible to hold down a job as the children she fostered were older and often had very complex emotional issues (understandably) which meant she had to be available frequently at short notice all times of the day and night.

She just about managed on the income from fostering but it wasn’t easy- a lot of money was spent on damage repair, replacing doors or appliances that had been smashed. She also had to suffer quite a lot of physical abuse (heavy items thrown at her head etc) without much support. Foster children can be extremely angry at being taken away from their families even if they are in damaging environments- and can take this out on their carers because they feel nobody is listening to their needs. It’s very rarely a situation where you are taking in a child who is happy to be removed from their familiar environment. So although it’s a good thing to do, think carefully about the emotional toll it can take and make sure you have lots of support systems in place.