Taking my hard earned money

healy

gohan2091 wrote: »

Yes, I am just asking so I know where I stand



I have been saving money so I can plan my future and eventually move out of my mothers house and get my own place. If the amount of money I have effects how much income I get from being unemployed then I may as well spend this money now on things I will need for the future, rather than keeping it stored away for a later date.

If you spend money with the intention of claiming means tested benefits like income based JSA afterwards it is likely to be classed as deprivation of capital.

Oldernotwiser

healy wrote: »

If you spend money with the intention of claiming means tested benefits like income based JSA afterwards it is likely to be classed as deprivation of capital.

And you will be assessed as if you still had the money.

joeblack066

As you have well under the £6k that is the savings limit, what is your problem? You have had your answer!

Zazen999

gohan2091 wrote: »

Yes, I am just asking so I know where I stand

So, I'm still confused.

Who is taking your hard earned money?

gohan2091

Oldernotwiser wrote: »

And you will be assessed as if you still had the money.

If I spend the money now, why would that be a factor in August/September?

joeblack066 wrote: »

As you have well under the £6k that is the savings limit, what is your problem? You have had your answer!

I just want to make sure, if I had £300 and if I had £5000, is that treated the same because it's under the 6k limit? I really hope this is so

Zazen999 wrote: »

So, I'm still confused.

Who is taking your hard earned money?

I've been saving my money so I can plan for my future. If I am refused benefits and asked to live off my savings because "I have too much" this is what I mean.

AnxiousMum

Because if you are on income based jsa, you will be asked to show bank statements. They will ask what you have spent the money on. You may have been saving money to plan for your future - do you not consider 'unemployment' a possible part of your future? We are always told we should have two to three months of living costs saved away for a rainy day

Zazen999

gohan2091 wrote: »

I've been saving my money so I can plan for my future. If I am refused benefits and asked to live off my savings because "I have too much" this is what I mean.

So, essentially, nobody is taking your hard earned money at all then.

Oldernotwiser

gohan2091 wrote: »

If I spend the money now, why would that be a factor in August/September?

Because you know that there's a good chance that you may be unemployed in August so spending any savings now would be purely to allow you to claim means tested benefits.

Aphrodite868

Dont panick! lol
The jobcentre have no what whatsoever of knowing or checking how much cash you have stored at your house or in your bank accounts.

All you have to do is show them a statement of all bank accounts that you tell them you have, and as long as you've got under £6,000 in there they just tick the box on their screen and your jsa starts.

Wee_Willy_Harris

Aphrodite868 wrote: »

Dont panick! lol
The jobcentre have no what whatsoever of knowing or checking how much cash you have stored at your house or in your bank accounts.

All you have to do is show them a statement of all bank accounts that you tell them you have, and as long as you've got under £6,000 in there they just tick the box on their screen and your jsa starts.

Some people don't have to deal in cash quite as much as others.