i left job voluntarily and have some money in bank ,,,

wendiewoo

Hi all thanks for help I forgot to mention I am a married lady!!!

so my hubbys wages will cover the loan which is already spent, we have decided to spend the loan on premium bonds but will be doing this after decision has been made,
I have no intention of hiding the monies, but for a short term investmemnt our bank manager has suggested we might make a little money as the interest will be nominal as all our work is booked in March.

I wasnt asking for help to defraud the system but I didnt mention loan to DWP as savings as its in hubbys bank and is for work so I didnt know if I had to declare it or not. Niavely thought loans were different to savings..honestly.

So I guess because I am married I might get some money for a few months if I am lucky ah well!!! I am so glad I have worked twenty years solid paying tax and insurance to get NOTHING!!!!!

I left work as I could no longer continue due to stress but even with no money in my pocket I dont regret it. I am responsible for my life and mistakes and accept it all, but thanks for all your help.

creditcardking_2

Premium bonds are not very good for short term investments, if you bought the premuim bonds now you would be excluded from the February draw, and if you cash in the bonds in March to pay the bills you would also miss the March draw.

Debt_Free_Chick

wendiewoo wrote:

So I guess because I am married I might get some money for a few months if I am lucky ah well!!! I am so glad I have worked twenty years solid paying tax and insurance to get NOTHING!!!!!

I understand that point of view - really I do. But the benefit system is not set up in that way - it doesn't collect your taxes and save them up until you "need" them. It's really only intended to deal with "desperate" cases. So, essentially, taxes are collected from those who can pay today. And paid out to those who really need it in the future. The system assumes that if you have others who can support you (especially spouse) that they will; and that if you have cash, that you will use that to support yourself.

I see what you're saying about the loan, but the system doesn't necessarily see it that way.

HTH

exil

It is also assumed that your hubby and you share your income and own assets jointly when it comes to claiming benefits. If your hubby is a millionaire, you don't get anything other than the contribution-based JSA. Example, my OH stopped work to have a baby. After maternity pay ran out, we got zilch - because I was working, and we had savings. That's the way it works. I suppose if we'd split up, she could have
got large wodges of cash from the state - but there you go!