Reducing my savings to below threshold prior to applying for unemployment benefits

sevenhills

I would advise you to take a job, any job. Work is good for your mental health.
If you haven't worked at all this tax year, you should contribute £2,880 into a SIPP, self invested personal pension.
If you drive, buy yourself a car, all this is not illegal and nothing to be ashamed of.

poppy12345

ZR said:

poppy12345 said:

ZR said:

The other option is I buy a nice sleeping bag, give away the rest of money and go live in the streets myself. Probably outside of the scope of this forum.

You have £40k in savings, i don't understand why you would want to do that. Take a look at calcotti's option.

I am going to look at Calcotti's option but I expect I don't qualify as I was out of work for much of the last two years. It's been a tough time recently. 

Then it's unlikely you'll qualify for either New Style ESA or JSA. You can check your NI contributions here. https://www.gov.uk/check-national-insurance-record

elsien

ZR said:

Thanks for comments everyone, I feel pretty pathetic for having started this thread. I need to keep looking for work and see what happens.

There’s nothing pathetic about exploring your options, even if just to rule some out. I hope things improve for you this year. 

ZR

I genuinely feel

poppy12345 said:

ZR said:

poppy12345 said:

ZR said:

The other option is I buy a nice sleeping bag, give away the rest of money and go live in the streets myself. Probably outside of the scope of this forum.

You have £40k in savings, i don't understand why you would want to do that. Take a look at calcotti's option.

I am going to look at Calcotti's option but I expect I don't qualify as I was out of work for much of the last two years. It's been a tough time recently. 

Then it's unlikely you'll qualify for either New Style ESA or JSA. You can check your NI contributions here.

Not looking great.

I don't know what to do, I am applying for jobs every day.

I am panicking. I am considering sleeping rough. I will miss my kids. 

ZR

I genuinely feel

ZR said:

I genuinely feel

poppy12345 said:

ZR said:

poppy12345 said:

ZR said:

The other option is I buy a nice sleeping bag, give away the rest of money and go live in the streets myself. Probably outside of the scope of this forum.

You have £40k in savings, i don't understand why you would want to do that. Take a look at calcotti's option.

I am going to look at Calcotti's option but I expect I don't qualify as I was out of work for much of the last two years. It's been a tough time recently. 

Then it's unlikely you'll qualify for either New Style ESA or JSA. You can check your NI contributions here.

Not looking great.

I don't know what to do, I am applying for jobs every day.

I am panicking. I am considering sleeping rough. I will miss my kids. 

I need to do it long before the money runs out, I need to leave them enough.

huckster

If you want to get into employment more quickly, then contact a few local recruitment agencies and ask them to find you temporary or temporary to permanent work.  Good news with agency work, is that it is often paid on a weekly basis and there is no long term commitment on your part.

And the even better news about work via agencies, is that once you have got your track record back of being in employment and showing you have work ethic, is that when you apply for permanent jobs,  employers are far more likely to be interested in employing you.  

Don't fall into the trap of keep on applying for jobs and not getting anywhere, without really examining why.  And this is where you might want to get some advice about how you going about applying for jobs. Most Job Centres have National Careers Service advisors available at some point during each week.  So you could enquire with your nearest Job Centre about getting some help.  Also most large recruitment agencies can offer some help e.g.. Reed.co.uk

Careers advice - job profiles, information and resources | National Careers Service

sammyjammy

Justto be clear the £16k limit is where income based benefits stop, they are reduced by £4.35 a month for every £250 you have over £6k

Murphybear

ZR said:

I genuinely feel

poppy12345 said:

ZR said:

poppy12345 said:

ZR said:

The other option is I buy a nice sleeping bag, give away the rest of money and go live in the streets myself. Probably outside of the scope of this forum.

You have £40k in savings, i don't understand why you would want to do that. Take a look at calcotti's option.

I am going to look at Calcotti's option but I expect I don't qualify as I was out of work for much of the last two years. It's been a tough time recently. 

Then it's unlikely you'll qualify for either New Style ESA or JSA. You can check your NI contributions here.

Not looking great.

I don't know what to do, I am applying for jobs every day.

TI will miss my kids. 

Please don’t do that.  People who sleep rough tend to have more/worse mental health problems.  (I worked for a mental health charity and we funded a few projects on mental illness in the homeless).   You say your mother will be homeless if you don’t help her financially.  Have you thought about getting some practical help for her.  Are you paying her rent for example?  She may be entitled to help with rent and council tax.  There’s a few benefit checkers online and you will find Citizens Advice very helpful.  

HillStreetBlues

sammyjammy said:

Justto be clear the £16k limit is where income based benefits stop, they are reduced by £4.25 a month for every £500 you have over £6k

Isn't it per £250 for working age benefits?

KxMx

Murphybear said:

ZR said:

I genuinely feel

poppy12345 said:

ZR said:

poppy12345 said:

ZR said:

The other option is I buy a nice sleeping bag, give away the rest of money and go live in the streets myself. Probably outside of the scope of this forum.

You have £40k in savings, i don't understand why you would want to do that. Take a look at calcotti's option.

I am going to look at Calcotti's option but I expect I don't qualify as I was out of work for much of the last two years. It's been a tough time recently. 

Then it's unlikely you'll qualify for either New Style ESA or JSA. You can check your NI contributions here.

Not looking great.

I don't know what to do, I am applying for jobs every day.

TI will miss my kids. 

Please don’t do that.  People who sleep rough tend to have more/worse mental health problems.  (I worked for a mental health charity and we funded a few projects on mental illness in the homeless).   You say your mother will be homeless if you don’t help her financially.  Have you thought about getting some practical help for her.  Are you paying her rent for example?  She may be entitled to help with rent and council tax.  There’s a few benefit checkers online and you will find Citizens Advice very helpful.  

OP's mum lives in South Africa, but he could still help her navigate the welfare system there.