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Managing my money

2. How can I get money?

1. Work

The best way to earn money is to get a job. Even if you are studying at university most students find they can manage a part-time job or they work during holidays. Making sure you are in work is also good for your CV, so future employers can see that you are keen to work and are reliable. Take a look at the Employment section for more information

2. Personal Allowances

If you are aged 16 or 17 and are living independently, you will be able to claim a weekly personal allowance.

Your social worker will help you to set up a bank account – there are lots of bank accounts designed specifically for young people, that can help make banking easy and stop you getting into debt. It’s easiest to get your personal allowance paid into your account by BACS, which is a bank transfer. This usually goes in at the end of the week.

3. Independent Living Grant

This is a budget for young people leaving care who want to live independently, with up to a total of £2000 being available. Your social worker or PA will help you to decide what to buy with it, as it is important that you have all the essential things you need, such as a fridge, a bed and a washing machine.

4. Benefits

This comes from the Department of Work & Pensions (DWP) and is for people either looking for work or on a low income. Examples of the different types of benefit you could receive include:

  • Universal Credit – a monthly payment to help you get into paid work.
  • Job Seekers Allowance – also to encourage you to find paid work.
  • Income Support – you can claim this if you are in full-time non-advanced education (Level 3 or below) up to the age of 21.
  • ESA – for people who have a health condition that prevents them from being available for work.
  • Housing Benefit – if you are looking for work, at college or on a low income, you can get help with paying your rent. Your PA can explain how this works.
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Last updated: 4 October 2017

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