Our goal is to help our young people learn about, understand and manage their finances successfully. This takes time, patience and practice, but we are here to help you in lots of different ways with this area of adult life.
If you make mistakes, that is okay too, we all do, because there is so much to learn about money. It is always important to talk to us about things when you are struggling.
Care leaver entitlements
There are certain areas in which we can provide you with financial support and help and you have a right to this support.
Below is a link to your entitlements and our finance policy, containing all of the financial support you are entitled to. Your Pathways Advisor or someone close to you can help you to understand these in more detail. You do not need to know everything in these documents, but it is important that you and your PA work out which parts of the policy are relevant to you and your circumstances.
Money support
- You will receive help and support from our Pathway Advisors so that you can learn to manage your money. Your Pathway Advisor will provide you with advice and information about what you are entitled to, as well as practical support around paying bills and budgeting.
- We will support you with things like opening a bank account or savings account, setting up direct debits for things like energy bills or the internet.
- We can help you to get your National Insurance number, if you do not already have this.
- If you get into financial trouble or need our help in an emergency, we will do everything we can to help you through this.
- We also help when there are gaps between employment or benefits and can provide up to 4 weeks payments, equivalent to the amount received from universal credit, as of April each year.
Budgeting, debt and managing your money
There are several organisations that support people who require advice and guidance in relation to budgeting, debt advice and general management of their finances. Here are a few which you may find handy if you have a problem with your finances:
- Citizens Advice. Specialise with offering independent debt advice and working with you to develop budgeting skills so you can manage your bills.
- Money Advice Service. Help for you to stay in control when you are on a tight budget.
- Eat Well (NHS). 20 tips to eat well for less.
- Prince's Trust. The charity offers general advice on debt issues.
- Noah's Ark Centre. A specialist debt advice charity that can support care leavers to resolve any debt issues.
- Money advice and support. Support for dealing with money related matters.