Vanquis increase so soon?

nicetomeetyou

I don't really need the credit card.... My appointee sends me £125 personal allowance every Thursday.. So £500 a month... Out of that I only have £10 a month.. plus £40.. a week food shopping. I am able to save £300 a month myself where appointee is saving £500 a month... I have lots of savings in my PA account... My appointee is concerned I have exceeded the savings of £6000 as he tells mes to spend money.... I want to build my credit score up as the people coming into supporting living are more severe and I need a good credit score for if I need to move out off supported living housing and get a privrert housing.. I have a learning disability.

System

nicetomeetyou wrote: »

My appointee is concerned I have exceeded the savings of £6000 as he tells mes to spend money....

OK, so..... firstly I would say, get a new appointee. An appointee who is telling you to spend spend spend! because you have saved a little bit of money is not a good influence.
The £6k would be much better used in a stocks investment fund or used as deposit for a house.

But then the ethical question is, should someone be receiving such a level of benefits that they are in a position to be able to save an investment fund? IMO no. Alas, I digress.

[Deleted User]

I'd hope the appointee isn't directly saying "spend money"!

I guess it's to do with benefits starting to get reduced above £6k cash. So if you are buying things on credit but have cash in the bank, don't - use the cash.

Certainly don't 'blow' the cash though! I think even if you had say £12k in the bank, it wouldn't have a drastic effect on benefits from illustrations I've seen - they'd knock some off, but nothing too substantial.