How does the money work?
Whether you’ve just started thinking about fostering or are ready to take things further, understanding the money side of things is really important so that you can make an informed decision about taking the next step.
Fostering is a professional role which takes dedication, training and commitment. We want our foster carers to feel supported so they can focus on the task in hand... providing a stable, loving environment where their foster children can feel safe and cared for and thrive. A big part of that is making sure our carers feel financially secure so they don’t have to worry about the costs of caring for their foster children. This is why Foster with Edinburgh offers generous payments to support the day-to-day living costs of caring.
So how does the money work?
There are two parts to our foster carer payments – an allowance and a professional fee:
- the allowance covers the cost of caring for your foster child. This includes food, clothing, utilities, transport, pocket money, outings and activities.
- the professional fee rewards our foster carers for their hard work and commitment, caring for a vulnerable child.
Payments vary depending on the age and needs of each foster child.
Here are some examples to give you an idea of how the money works.
EXAMPLE 1: Jenni’s Blended Family
Single mum Jenni became a foster carer after her 2 children started school. She’d been fostered herself and this inspired her to become a foster carer too. With more time on her hands, Jenni wanted to do something worthwhile. However, it was important for her that the money side of things worked out to make it possible. Jenni currently fosters Isla, age 4. Her children love having a little foster sister and Isla is thriving as part of a loving family. Jenni’s professional fee for fostering is £307.50 per week and her weekly allowance towards Isla’s care expenses is £177.70. In total, Lesley receives £485.20 per week. Over the year that amounts to £25,230.40. *
EXAMPLE 2: Robert’s Foster Family
Robert has been foster dad to brothers Jake, age 13, and Isaac, 16, for 4 years. He’s happy that he’s been able to help them stay together as the boys are very close and didn’t want to be separated.
For each of his foster sons he receives a professional fee of £307.50 every week. He also gets a weekly allowance, which helps him with the day-to-day costs of raising his foster sons, such as the weekly shop, new clothes for the boys, or towards treats or fun days out. His weekly allowance for Jake is £206.72. As Isacc is a bit older, it’s slightly higher at £283.37.
In total, that makes £1,105.09 per week to help Robert care for his foster family. Over the year Robert is paid £57.475.08* to foster his two boys.
EXAMPLE 3: Lesley and Lily
Lesley, previously a special needs teacher, took early retirement and ideally wanted a new role where she was home-based and could use the skills she’d developed over many years. She became a specialist foster carer and now looks after Lily, age 7, who has a higher level of social, emotional and behavioural difficulties. With Lesley’s support, Lily is now a thriving, happy child.
As a specialist foster carer, Lesley’s expertise is recognised with a higher professional fee of £490.06 every week. Her weekly allowance towards Lily’s care expenses is £206.72. In total, Lesley receives £696.78 per week. Annually that amounts to £36,232.56. *
The majority of our foster carers are exempt from paying tax on the income they receive from fostering due to the ‘Qualifying Care Relief’ tax scheme.
We also provide an excellent support package for our carers.
Get a detailed breakdown of fees and allowances
*Totals don’t include extra payments for holidays and birthdays.