Goal 6: Be in control of your finances

Money is an important part of how young adults feel about their lives. We are aware that having a regular income is an essential part of achieving your hopes and dreams. We will put support in place to ensure you have the skills needed to manage your own money well and make the right financial decisions.

In preparation for when you leave care, by the time your turn 18, you should have in place your own National Insurance Number as well as your own bank account.

Once you turn 18, as long as you are entitled to access public funds in the case of asylum seeking young people, you are expected to pay for, or contribute towards, the costs of your accommodation and other expenses. If you are not working, then your Social Worker or Personal Advisor will help you to apply for the relevant benefits. If you are working, then we will support you to work out what benefits you may be able to apply for if you are on a low income. Your Social Worker or Personal Advisor will assist you in sorting out your post 18 finances. We will continue to financially support you for up to8 weeks whilst your benefits claim is assessed. We will help you to understand the steps you need to follow with the Job Centre to claim hardship payments if you need them.

Enfield Care Leavers Service, will continue to have a responsibility to assist you with financial support if you are in Higher Education, you move in independently (Setting Up Home Allowance) or if you present specific or special needs. We can also provide you with limited financial support in emergencies or exceptional circumstances. These payments won’t be in any case regular and may be subject to change.

Enfield has an internal Financial Policy for Care Leavers that sets out what financial support you are eligible for when you leave care. A table of all available allowances can be found at the end of this document. This includes Birthday and Festival Allowances, Setting up Home Allowance, your Higher Education Grant and other financial entitlements.

SAVING ACCOUNT AND ISAs

All looked after children, including unaccompanied asylum-seeking children, who have been looked after for 12 months or more, will have a Junior Independent Savings Account (JISA) set up through the government contracted Share Foundation. The Share Foundation opens and manages the JISA accounts for all looked after children. For every JISA opened for the looked after children, the Department of Education pays in £200 as an initial payment to the account. This amount might have been topped up by £5 per week depending on the type of placement you were in while in care. Enfield has got an internal Savings Policy that your Social Worker or Personal Advisor can explain to you if you have any queries around your entitlement to savings whilst you were in care.

DEPARTMENT OF WORK AND PENSIONS BENEFIT CAP WELFARE ADVISER

If you are living in Enfield, you can make an appointment with a representative from the Job Centre through our Hub to access further support in regard to your benefit claim and advice you on what you need to do to avoid being sanctioned.

FINANCIAL SUPPORT TOWARDS YOUR RENT

To start preparing you to live independently in the future and manage your own finances you are expected to contribute towards the rent of the placement you are living in if it is provided via the Leaving Care Team. This will be done by applying to the Housing Element of your Universal Credit claim or by paying a proportional amount from the income you may get if you are on employment. Your Social Worker or Personal Adviser can help you with your claim and provide you with more information on your possible financial entitlements.

COUNCIL TAX SUPPORT

We are working towards getting you fully exempted from paying Council Tax however, although all care leavers are protected from paying the minimum payment, based on the fact they are single and under 25 years old, currently, if you are working, your earnings will be taken into account and you may be eligible for Council Tax Payments.

You can go to Enfield Council website to access a Benefits calculator and find out if you are eligible for Housing Benefits and Council Tax Support. You will still need to set up an Enfield connected account and complete the benefit calculator which will then guide you onto the application. https://new.enfield.gov.uk/services/benefits/housing-benefit-and-council-tax-support/

BUDGETING/MONEY MANAGEMENT SUPPORT

Riverside is one of our Partners. Through their project Engage Enfield they will be carrying out monthly workshops within the Care Leavers Hub which include money management to best prepare you to know how to manage your own tenancy before you attend our Tenancy Nomination Panel.

KRATOS also runs as part of Enfield Care Leavers Hub money management workshops supported by MYBNK https://www.mybnk.org.

North London Housing Partnership also works alongside Enfield Leaving Care Team and provide sone to one support to Care Leavers on money management, budgeting and debt. You can ask your Social Worker or Personal Advisor for a referral when needed.