We all know looking after children can be expensive. The latest data from the research company Ipsos Mori showed that the average cost of raising a child until the age of 21 is £229,000. While some foster carers only look after a child for short bursts of time some do commit to it for many, many years of their life so it’s not surprising that people may be put off fostering because they think they are not in the financial position to help.

While it’s really important that you think carefully about whether you can afford to foster, people often don’t realise that financial support is available from the government, paid through GLF, to help with costs.

All foster carers receive at least £123 per week and this increases depending on the age of the child and where you live. For example you can receive £213 a week if you live in London and are fostering a child between the ages of 16-17. You could also get more if the child you are fostering has specific needs, you have certain skills or you make a particularly large commitment to fostering.

At GLF we pay our carers much more than the minimum. Our foster carers receive upto £400 a week.

You also don’t have to pay tax on the first £10,000 income (after expenses) you make from fostering and you also receive some tax relief on earnings above this threshold. More detailed information can be found on the UK government’s website.

We all know looking after children can be expensive. The latest data from the research company Ipsos Mori showed that the average cost of raising a child until the age of 21 is £229,000. While some foster carers only look after a child for short bursts of time some do commit to it for many, many years of their life so it’s not surprising that people may be put off fostering because they think they are not in the financial position to help.

While it’s really important that you think carefully about whether you can afford to foster, people often don’t realise that financial support is available from the government, paid through GLF, to help with costs.

All foster carers receive at least £123 per week and this increases depending on the age of the child and where you live. For example you can receive £213 a week if you live in London and are fostering a child between the ages of 16-17. You could also get more if the child you are fostering has specific needs, you have certain skills or you make a particularly large commitment to fostering.

You also don’t have to pay tax on the first £10,000 income (after expenses) you make from fostering and you also receive some tax relief on earnings above this threshold. More detailed information can be found on the UK government’s website.