And if they do go back to their biological family, it can be just as detrimental. “Those are the people they had to get away from in the first place,” says Eddye. “A lot of times they take advantage of you, and then you're also relying on their financial choices instead of learning how to manage money on your own.”Also, the lack of a bank account puts kids' savings at risk. “I know one girl who's a single mom, and she kept her money in a shoebox under the bed,” says Eddye. “She was robbed and basically had to start all over.” Eddye says that she knows quite a few people who stash money in shoeboxes and sock drawers because they don't have a bank account.
Foster Kids "age Out" Without A Financial Education
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