Managing your own money and being able to budget is an important life skill. As you reach independence you may choose to learn more about how to manage your finances independently.
It's important to remember to spend money on the things you need for your own wellbeing, personal hygiene and to be able to meet your needs. You may also be able to save some money for the future, incase you need it.
Moneyhelper.org.uk has more helpful information about things to consider when managing your finances.
Where might your money come from?
It's important to begin understanding money, financial needs as you get older and how to budget effectively. Begin by understanding how much things cost and where you receive your money from.
You may have access to a Personal Budget through your EHCP, and this may meet the funding needs of some of your ongoing requirements.
Personal Independent Payments (PIPs) can help you with some of the extra costs if you have a long term physical or mental health condition or disability. PIPs are replacing Disabled Living Allowance for people aged 16 and above.
Disability Grants provide information about grants people with disabilities may be able to access.
16-19 Bursary Fund can provide money that you, or your education or training provider, can use to pay for things like clothing, books and other equipment for your course, transport and lunch on days you study or train. You can also apply for a bursary if you are over 19 and have an EHC Plan.
Beyond age 18 - higher education
If you choose to continue into higher education at University, your University your College will be required to make reasonable adjustments for you under the Equality Act 2010. Dependant on your needs you may also be able to apply for the Disabled Student's Allowance.
Young people over 19 without EHC plans can be charged tuition fees, depending on the type and level of course they’re studying. Colleges and training providers can also help with course fees at their discretion, and their fees may take into consideration receipt of certain benefits so it's important to check with your provider directly.
Young people aged 19-25 with an EHC plan receive free tuition, as long as the course meets the outcomes in their EHC plan.
Contact have some useful information on their Education beyond 16 information pages.
Budgetting
Which? have recommended some budgeting apps to help you managing your spending alongside your incoming money. This is a good visual way of monitoring your spending and ensuring you stay on top of your finances.
Money Helper has a free budget planning tool to support you in keeping track of your spending.