Leaving care and looked after children finance handbook

Introduction and principles

It’s important that you, as a young person, know what you’re entitled to and understand what financial support the local authority can provide to you.

You aren’t all the same, and the financial support you are offered should reflect your individual needs and circumstances. 

Managing money is a part of life and we want to support you to understand its value and help you learn skills you may need to handle the challenges that come with managing money, especially on a limited income.

This document outlines what the Lincolnshire leaving care service can offer to support you as you transition to adulthood.

We aim to spend money wisely and use funds to help you achieve the best outcomes from ages 16 to 25.

Our main goal is to support you in becoming independent without relying on direct financial support from the local authority.

While we ensure support is available, the financial help provided should be planned, justified, and recorded in your pathway plan. We also want to help you save money for your education and adult life; this is why all children in care in Lincolnshire are expected to have a savings account by their 16th birthday.

Until 31st March 2025, Barnardo’s delivers the service on behalf of Lincolnshire County Council. Starting on 1st April 2025, the service will be delivered by Lincolnshire County Council only.

This document is for young people who are eligible, relevant, former relevant, and qualifying under the Children (Leaving Care) Act 2000 and the Care Leavers (England) Regulations 2010.