Depending on your experience and the age of the child or young person, you can receive a weekly allowance for each child.
This will cover the costs of caring for them and includes a fee for you.
Other financial benefits
Foster carers do not pay tax on their income from fostering up to a maximum of £10,000 plus allowances for the care of the child.
If you make National Insurance contributions, you're entitled to National Insurance credits. This means that you will not lose out on the basic State Pension if you've stayed at home to look after a child.