Please help as income less than living costs

luminated

I am 63, married and living in rented accommodation.

I worked for myself, for many years but had to close down my self employment due to rapidly dropping sales and the costs would have been greater than the sales income if I had carried on.

My self employment stopped at the end of 2008 and my last set of accounts was April 2009.

My income is £138 PW private pension and my wife has a state pension of £108 PW. So despite living very frugally our outgoings are higher than incomings.

I have been trying to get a job since stopping my self employment but no success.

I have been living of savings and not claimed any benefits but my savings are going down very rapidly but are still over the £16,000 which seems to be the maximum allowed for many benefits.

I wonder if anyone can help me to see what chance I have of being able to claim JSA?.

Or indeed anything else?

zagfles

You might be able to claim housing benefit/local housing allowance and council tax benefit. Your council's web site might have a calculator if not google for one.

luminated

zagfles wrote: »

You might be able to claim housing benefit/local housing allowance and council tax benefit. Your council's web site might have a calculator if not google for one.

Thanks for the thought I have looked at online calculators including entitledto but think my capital being over £16,000 means nothing.

downshifter

luminated wrote: »

I have been trying to get a job since stopping my self employment but no success.

Rather than look for one job I found much more success in looking for several part time ones. I have four, two of which are 3 hours a week, one is around 5 hours a week and one 6 hrs a week. The relatively small individual amounts add up to money worth having. I tend to look at it that job no 1 pays my food for the week, job no 2 my petrol and so on! Would your wife not be able to get some work too?

The other thing is to post your statement of affairs (SOA) and others will look at your outgoings and see where you can cut down. Also look at threads like the old-style one where there a lots of ideas for making a million meals out of one onion and a quarter pound of mince! Or enjoy your savings and look at re-applying for benefits once they've gone down. While you have them you're not really that badly off and benefits are really for people without backup. To be honest, to me, that amount of money is untold riches and I could make it last years and years!

Good luck, it isn't fun though is it, with everything going up so much.

DS

zagfles

luminated wrote: »

Thanks for the thought I have looked at online calculators including entitledto but think my capital being over £16,000 means nothing.

Sorry I missed that in your OP. Don't think JSA is an option, as even contribution based JSA is reduced if you have pension income.

Tax credits don't have capital rules, but to get the working tax credit you'd have to work 30 hours (I assume you have no children at home).

real1314

luminated wrote: »

I am 63, married and living in rented accommodation.

I worked for myself, for many years but had to close down my self employment due to rapidly dropping sales and the costs would have been greater than the sales income if I had carried on.

My self employment stopped at the end of 2008 and my last set of accounts was April 2009.

My income is £138 PW private pension and my wife has a state pension of £108 PW. So despite living very frugally our outgoings are higher than incomings.

I have been trying to get a job since stopping my self employment but no success.

I have been living of savings and not claimed any benefits but my savings are going down very rapidly but are still over the £16,000 which seems to be the maximum allowed for many benefits.

I wonder if anyone can help me to see what chance I have of being able to claim JSA?.

Or indeed anything else?

You have a combined income of £246 per week and over £16k in savings. It's your outgoings you need to address, not your income.

How much are your savings in total? If/when they drop below £16k you might be able to claim housing benefit, although with £246 per week, it may not be a huge amount. At £15999, your savings would be treated as income of around £16 per week, to be added to the £246, giving a total of £262.

sleepless_saver

luminated wrote: »

I
I wonder if anyone can help me to see what chance I have of being able to claim JSA?.

Or indeed anything else?

No chance of JSA. For contribution based JSA you would need to have been paying Class 1 contributions in the relevant contribution years. But you were self employed so would not have paid Class 1. Your household income is too high for income based JSA.

If you continue not working, then when your capital falls below £16k you can claim housing benefit (local housing allowance if you are renting privately) and council tax benefit. Your household income is too high for you to get pension credit.

Do either of you have any disability or health problem causing serious mobility problems or care needs? If so, it would be worth thinking about claiming disability living allowance.

Finally, If you're having difficulty managing, you might want to have a look at the old style moneysaving board, which is full of good advice and tips on frugal living.

luminated

downshifter wrote: »

Rather than look for one job I found much more success in looking for several part time ones. I have four, two of which are 3 hours a week, one is around 5 hours a week and one 6 hrs a week. The relatively small individual amounts add up to money worth having. I tend to look at it that job no 1 pays my food for the week, job no 2 my petrol and so on! Would your wife not be able to get some work too?

The other thing is to post your statement of affairs (SOA) and others will look at your outgoings and see where you can cut down. Also look at threads like the old-style one where there a lots of ideas for making a million meals out of one onion and a quarter pound of mince! Or enjoy your savings and look at re-applying for benefits once they've gone down. While you have them you're not really that badly off and benefits are really for people without backup. To be honest, to me, that amount of money is untold riches and I could make it last years and years!

Good luck, it isn't fun though is it, with everything going up so much.

DS

Thanks for the tips and tips.

I have tried to get even low hours minimum rate jobs but no luck.

I have the spending under control as we needed to take decisive action a few years back when we knew our self employment was paying less and less. I have been reading MSE for years and post under a different name with 4,000 + posts and have taken on board much of the money saving ways. All our home income/outgoings are on an Excel spreadsheet and desite routinely combing through we don't feel there are savings to be had apart from going without our small (55 MPG) car.

I am just seeing if I am entitled to anything, no matter how little to balance the books, each month, until my pension in 2013.

Again thanks

luminated

zagfles wrote: »

Sorry I missed that in your OP. Don't think JSA is an option, as even contribution based JSA is reduced if you have pension income.

Tax credits don't have capital rules, but to get the working tax credit you'd have to work 30 hours (I assume you have no children at home).

I wonder if i tmay be worth an online application, for JSA, on the off chance??? No kids at home just me and the wife.

Caz3121

luminated wrote: »

I wonder if i tmay be worth an online application, for JSA, on the off chance??? No kids at home just me and the wife.

even without the savings looks like you won't get any payment

If you have a pension payment from an occupational or personal pension scheme any amount over £50 a week will be deducted from your contribution-based JSA entitlement and the whole amount would be offset against income-based JSA

I believe you should still be able to claim and sign on to have your NI credits made but you won't get a payment

luminated

real1314 wrote: »

You have a combined income of £246 per week and over £16k in savings. It's your outgoings you need to address, not your income.

How much are your savings in total? If/when they drop below £16k you might be able to claim housing benefit, although with £246 per week, it may not be a huge amount. At £15999, your savings would be treated as income of around £16 per week, to be added to the £246, giving a total of £262.

I can assure you my outgoings have been cut to the bone and don't see much more if anything I can save unless I sell my car.

I live in a very modest 2 bedroom terrace home with a very low rent for the area well below the market rate through a private LL. So downsizing to a 1 bedroom would mean spend more than current rent and a lot of stress.

We have basic TV ( no Sky), basic BT call package, £11.50 PM broadband, eat very little meat to save on the food bill, no holidays for many years apart from Travelodge £9 PN sales. Last one abroad was 20 years ago. No daily papers, no CC or other debts. Limit ourselves to one tank of petrol each month - around £40. All clothes in the sales. No high expenditure item for years such as electrical or furnishings. Two meals out in past 12 months. No other evenings out for years as we are happy being at home.

Regularly check fuel cost and switch but no more scope there. Same with car and home insurance at each renewal. Spending £100 PM on basic life assurance and nearly all for me due to elevated premiums through health problems.

So even being an MSE convert I feel there is little scope left to cut back further.