Fostering doesn’t have to break the budget, but cash-strapped mums don’t know

According to a recent survey, half of Britons assume that they will receive foster parents receive less than £5,000 a year. However, the reality is that fostering a child offers an allowance of at least 4 times as much: anywhere from £20,000 to £40,000 a year depending on each child’s needs.

The figures, which come from a Compass Community survey on the popular parenting website Netmums, show that at least 90% of mums believe they’ll receive less than £15,000. The startling findings reveal that nearly everyone is misinformed when it comes to the topic of foster care.

This ignorance of the low cost of fostering could be keeping thousands of children out of much-needed homes. Four out of five survey respondents said they would be interested in fostering sometime in the future, but how many will take the leap if they believe fostering a child will make it even tougher to raise a family in this harsh economy?

And it’s not just the financial myths that are likely keeping loving parents from fostering children. Two-fifths of people believe that single people are not allowed to foster, but foster parents can be single, part of a couple, and from any background. Meanwhile, survey results showed that a third of people believe that applying to be a carer takes over 2 years, while the real application process takes somewhere between 4 – 6 months.

Ian Pigden-Bennett, Chief Executive of Compass Community, said: "While there is currently a shortage of 9,000 foster carers in the UK,these myths could be hindering people to apply to become a foster carer. As part of Foster Care Fortnight we want to raise as much awareness about these misconceptions as possible so people know the truth about fostering."

Foster Care Fortnight is an "annual campaign to raise the profile of fostering," and battling the myths and misinformation about foster care is a crucial part of this campaign. The truth is that anyone who fosters must be over the age of 21 and have a spare bedroom, but contrary to popular believe one does not need a driver's license, childcare certifications, or even have children of one's own.

Arabela Velasco of MyEggNest.com, a leading children’s savings website, said: "The results of the Compass Community survey highlight how little we really know about fostering. Parents may be afraid that fostering could could put a strain on their family’s resources, or their ability to save into a Junior ISA for their children’s future. However, fostering won't break the budget as foster parents are given enough to meet the child's needs -- and it's easier to apply than most people think."

Pigden-Bennett went on to say that "Fostering can make a real difference to vulnerable children when they need help the most. By raising awareness of this very important topic, we hope that more people will come forward, see if they are suitable and open their homes and hearts to a young person in need."