Yes, You Can Afford to Become a Foster Parent

You would love to have a foster child in your home, but you’re not sure you can afford it. Perhaps your income is only modest, and your home is not big and spacious. These constraints should not keep you from becoming a foster parent. You don’t need to be rich as long as you are able to support a foster child financially. Kids First are experts in training and equipping foster families in Dallas and Fort Worth, Texas, and we can help you, too. Let’s have a look at ways you can afford to get into being a foster parent.

What Are the Income Requirements to Become a Foster Parent in Texas?

Texas doesn't set a fixed minimum income for foster parents. What caseworkers actually look for is stability: a regular source of income, whether from a job or retirement, that covers your own household's needs without relying on foster care reimbursements to get by. That gets assessed as part of your home study, alongside your budget, debts, and how you plan to cover a child's day-to-day expenses.

Does It Cost Money to Become a Foster Parent?

Applying and getting licensed through Kids First doesn't cost you anything. Once a child is placed with you, the state provides a daily reimbursement to help cover food, clothing, and everyday supplies. Most families still spend some money out of pocket in the first few weeks, before the reimbursement catches up, which is where the budgeting tips below come in.

Do Foster Parents Get Paid?

Foster care isn't a paycheck. Texas pays a daily stipend based on the level of care a child needs, meant to cover the child's expenses rather than provide income for the family. See the full breakdown of Texas foster care stipend amounts by care level.

A Few Quick Questions

Is it hard to become a foster parent because of money?

Not in the way most people expect. You don't need savings set aside or a high income. You need a steady income that already covers your own household, and a plan for the adjustment period before reimbursements start.

Do you have to own your home to foster?

No. Renters can foster. What matters is that the home has enough space and passes the safety inspection, not who holds the title.

Will fostering affect my other benefits?

It depends on the program, and the rules differ by state and by benefit. Your caseworker or benefits office can tell you exactly how foster reimbursements are treated in your situation. Talk with our team and we can help point you in the right direction.

Allowances

Yes, You Can Afford to Become a Foster Parent - Kids First

Most states including Texas cover the cost of raising foster children by providing an allowance to foster parents. Included in these expenses is housing, clothing, school supplies and activities. It can help with costs even though it is just a small amount.

Savings

It is a good idea to save part of your income every pay period before you receive your first placement. This will help you pay for expenses that the allowance doesn’t cover. If your foster child has a health condition that needs extra medical care, your savings will be a benefit. Some states might reimburse you for childcare costs if you work away from home. Your savings will prepare you financially for foster parenting. So the more you save the more prepared you will be.

Bargains

You can save money just by looking out for good grocery and clothing bargains. Look for affordable places to buy clothes for your foster child such as thrift stores and consignment shops. Buy sales items in bulk at your supermarket. This will give you sufficient food for the next few weeks. Another help in saving money on groceries are manufacturers’ coupons as well as store-brand products.

Medicaid Covers Foster Children

This is a great help with covering some of the costs of medical expenses for your foster child. One of the best ways to reduce medical expenses is preventative care. Teach your child proper hygiene and, even if your child has no warning symptoms, let the pediatrician, dentist and eye doctor examine him regularly. Finally, don’t worry that your income will prevent you from becoming a foster parent.  The love and compassion that the child experiences in your home are far more important. Please contact us at Kids First if you need help with getting started in foster parenting. We would like to offer you the guidance you need to start this journey the right way.