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Newbie - Where do you save money if on Income Support and DLA
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Moamethyst
Posts: 13 Forumite
Hi I am new to this site so please bear with me.
I have a daughter who still lives at home. She gets income support, SDLA and DLA. At the moment she has her savings in the National Savings and Investments at our local Post Office. It is not a lot but I would like to know if anyone can give me some advice to where it would be best for her to keep her savings. She obviously is not a tax payer.
Please help.
I have a daughter who still lives at home. She gets income support, SDLA and DLA. At the moment she has her savings in the National Savings and Investments at our local Post Office. It is not a lot but I would like to know if anyone can give me some advice to where it would be best for her to keep her savings. She obviously is not a tax payer.
Please help.
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Comments
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Whats SDLA, Ive never heard of it.
sunnyone0 -
Severe Disablement Allowance0
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Thers no such thing as severe disabled living allowance.
sunnyone0 -
If she gets income support she needs to be aware that any savings over the applicable amounts, which I belive to be £6000, will be counted as capital & her benefit reduced.
Consider a fixed rate Isa or any fixed rate or regular savings for best interest, although interest rates are not very generous at the moment for any accounts. You can check out the best rates by following Martin's guides via the tabs at the top of this webpage.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Thank you for replying with good advice0
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cattie there is no such thing as SDLA.
sunnyone0 -
cattie there is no such thing as SDLA.
sunnyone
Can I ask why you keep banging on about this
The OP probably means the Severe Disabled Premium that is paid on top of her IS.
The OP asked for advice on savings!
OP, you may be better asking this question on the Savings board.
PP
xxTo repeat what others have said, requires education, to challenge it,requires brains!FEB GC/DIESEL £200/4 WEEKS0 -
pp they have and I am repeating that there is no such thing because there isnt!
There are three disabled primiums available on IS for disabled people and DP, SDP and EDP will all be listed on the IS award letter and any updates from DWP, DLA awards will also be updated at least yearly when the rates change every April.
sunnyone0 -
Penny-Pincher!! wrote: »Can I ask why you keep banging on about this
The OP probably means the Severe Disabled Premium that is paid on top of her IS.
The OP asked for advice on savings!
OP, you may be better asking this question on the Savings board.
PP
xx
Thanks for the friendly reply Penny-Pincher as you said I only wanted savings advice for my daughter. I am new to this but I did post the same question on the Savings board and got nice replies.0 -
well done stick up for your self . you need to herethe truth is out there ... on these pages !!
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