Supporting carers
It is clear that young people should not be expected to leave their care placements, before they are legally adult, without having developed skills in this area. However, it is unlikely that such competencies can be developed through a single, short budgeting course. Rather they need to be developed over a period of years.
Local authorities need to ensure that staff with responsibility for supporting children and young people in their care understand their responsibilities in promoting financial capability and have the knowledge and skills to carry them out.
National Minimum Standards (NMS) for Children’s Homes and National Minimum Standards (NMS) for Fostering Services
These standards require that foster carers and care home staff support children in developing financial capability, knowledge and skills:
The overall outcome of standard 12 in both documents is that:
Children are prepared for, and supported into, adulthood so that they can reach their potential and achieve economic wellbeing
The overall list of support requirements in this standard are that children are supported to:
a) establish positive and appropriate social and sexual relationships;
b) develop positive self-esteem and emotional resilience;
c) prepare for the world of work and or further or higher education;
d) prepare for moving into their own accommodation;
e) develop practical skills, including shopping, buying, cooking and keeping food, washing clothes, personal self-care, and understanding and taking responsibility for personal healthcare;
f) develop financial capability, knowledge and skills;
g) know about entitlements to financial and other support after leaving care, including benefits and support from social care services.
Planning transition to adulthood for care leavers - including guidance on the Care Leavers (England) Regulations 2010
These regulations and guidance, published in October 2010, are intended to ensure that care leavers are given the same level of care and support their peers would expect from a reasonable parent and that they are provided with the opportunities and chances needed to help them move successfully to adulthood.
The regulations state that young people’s pathway plans must address their financial capabilities and money management capacity, along with strategies to develop their skills in this area including how to manage day to day finances; how to take up any entitlements to benefits.
