Financial capability and Children in Care (Looked After Children) - the role of local authorities

Children in care often miss out on opportunities to learn as they use and talk about money as part of everyday family life. All children and young people need to experience and discuss the need to prioritise spending - talking about money as a normal part of life. This may be in relation to food, rent and mortgages, clothing, household materials, utilities or the cost of going out with friends.

This leaflet is to help local authorities to fulfill their responsibility to promote the financial capability of children and young people in care. It is for virtual school heads, looked after children education services, integrated looked after children teams, lead members for children’s services and members of corporate parenting groups. It will also help PSHE education advisers as they support schools in developing personal finance education for all learners.