A foster carer is paid an allowance, but it still remains important to plan the family finances. Everyone who is caring for a child needs to know what money they have in order to provide for them in the best way possible, and a foster carer is no different at all. So, when a new foster child moves in, make sure you follow the advice below to successfully plan your finances so everyone can feel secure and comfortable.
Plan the Household Meals
Depending on how many children there are in the house, meal planning may be an interesting challenge. Finding something that suits the birth children, adults, and foster children is sometimes difficult, but this is where a flexible mindset comes in. There are lots of family-friendly budget meals that work for a broad range of taste preferences, and even if you have to cook a few different ones every day, they shouldn’t break the bank.
Look for Free Events Close to Home
Wherever your agency is based, there are bound to be plenty of free activities to keep the whole crew entertained. It is a part of your job to enrich the foster child’s life through meaningful, cultural experiences, so you do have to factor in adventure and entertainment too. Wherever you’re based, whether it is one of the locations covered by fosterplus.co.uk , or somewhere entirely different, there is always information about where to go with kids of every age if you look in the right places.
Sign Up for Loyalty Schemes
There are so many loyalty schemes about with the big stores and the little ones too. This will help with things like clothing purchases and even days out and food shops too. As a foster carer, you will usually get access to exclusive discounts and promotions regardless, so make sure you’re using all of the advantages on offer so you can make the money stretch as far as possible. It makes sense to live a little more frugally when you are trying to set an example and stay within your means.
Avoid the Impulse Spends
Impulse spending is one of the easiest ways to kill a finely tuned budget. You have to know how to avoid these habits and control spending in a comfortable way so that there is no overspending or debt in the picture. Impulse spending can happen to anyone, but make sure you recognise the signs so you don’t fall into its trap.
Teach Foster Children and Birth Children About Money
Sometimes, the best way to manage your money is to make it a collaborative experience. This is a great learning opportunity for your birth children and foster children to get involved with the family finances and learn about money for themselves. Empowering kids about money is important, and will be a major part of your role too.
Planning finances is important for everyone. It’s vital to know what your budget is so you can plan essential bills, food shops, and entertainment. Get the kids involved and make it a learning experience, and don’t bury your head in the sand.