Savings and capital
Hi I know my ap is 1st to the 31st I get my uc of 727 on the 7th I was told not to add this but my question is if my boyfriend owes me like 20 or 30 and pays me through pay pal do I add all these together or again do I just add what's in my bank on the 31st and add this to my savings to give me a total for that month then the same the month after it's so confusing I know I've asked before but now I'm hearing other storys I've come on here as you all are so helpful
Comments
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Technically anything your boyfriend repays is counted as savings. So yes you should add that. But as you're so far below £6000, it really doesn't matter in your case.
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Is it any credit that's paid in to my account within my assessment period so from the 1st to 31st then total it all up I thought it was just what was left in your bank on the 31st
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Do I also add the col to my total or is this all in my bank balance whybis it so complicated j thought I'd done it correct but obviously not
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As we keep saying, it really doesn't matter for you, because you are so far under £6000 that you don't have to do any adding or taking-away at all. You only need to start calculating if it ever goes over £6000.
It isn't complicated for you because you only need to add two numbers on the 31st. One number from the balance on your savings account. The other number from the balance on your current account. Don't add or take away anything else at all. Just add those two numbers on the 31st.
Now, this next bit is a bit more complicated, but I cannot stress enough that you really don't need to do it because you are below £6000. I will still try to explain it, just please don't be too worried if you don't understand this part.
You shouldn't be adding anything from earlier in the month. That was my fault, it was badly worded, I meant that you should include any payments from your boyfriend or anyone else. Not that you should be adding them separately.
Benefits payments are not counted as savings, so they can be taken away from the total, not added. But payments from relatives are counted as savings, so they can't be taken away. The COLs can also be taken away, not added. But it isn't that simple, there is more to it than that, so I don't recommend that you attempt it, because you absolutely do not need to while you are under £6000! 🙂
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OK I didn't know any of this at all so for example on the 31st I have 3k in my savings and have had 120 paid in to my bank from boyfriend in 10s and 20s for stuff he owes me and any refunds from like ebay or asos I add these to the savings for that month am right so far .then what do I do with the remaining balance in my bank say irs 250 do I add this too the have a total amount all across all accounts = 3370 do I then add my u/c of 727 as I get that on the 7th or not or am j getting messed up again
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Obviously many sites have told me I'm getting in trouble and they will want all my statements from beginning of claim I didn't have any savings till 10 months after this is scary now I've looked back and as one point i was at a little over 5k but it was uc backpay and col when I totalled my remaining balances on the 31st it took me to that amount , but I've been told you shouldn't take them off but I thought they were disregarded if they were disregarded I'm well under as it was backpay of 3k and col payments
Someone said I shouldn't be taking them off I'm so confused now I'm dreading the message on my journal now they have my 4 months statements savings etc am I going to get in major trouble as I was just not aware I had to declare my savings unless they got to 6k but when adding these col and back pay it gets higher it's right down now to just under 3k it's daunting I've done nothing wrong I just didn't realise all this I'm only young
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The best advice I can offer is to stop looking at all those different sites.
You do not need to declare savings under £6000.
You do not need to add or take off anything at all. That is only for people with more than £6000.
On the 31st, look at your savings account total. For example £3000. Then look at your current account total. For example £120. Add those together, that makes £3120. That's it, that's your total savings amount, it is that simple, do not do anything else with it.
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Do do this ever month my ap 1st to 31st as my savings are up and down throughout the month i mive it around my ocd doesnt help .
So I just do this every single month whatever is left in my savings and unspent benefits am I getting this right so the month before is finished and you start all over again the next month .
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If your total money stays below £6,000 do nothing at all.
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Yes that's right, every month on 31st, just add the savings and the current account on that day.
It doesn't matter what happens on all the other days, only what you have on the 31st.
You don't need to declare those savings to UC in the journal every month though. Only if they ever go over £6000. Or if UC ask you to update them specifically.
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OK im going to add refunds and money that boyfriend sent me then add them to my total bit of a strange question if my unspent money came to 400 one month i had 3.5k in savings =3900 for that month do I also add refunds and money back off boyfriend etc as it shows all this on my bank statement which gives the total just trying to double check everything
Also when I take out and put money in my savings will they question why I do this please
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Do NOT add anything from other days!!!!!!!!!!!!!!
Only add the total from each account on the 31st. It is only 2 numbers to add together. Do not add or take away any other numbers at all.
UC won't question why money is moved into a savings account from the current account. But if you draw money out of the savings account, they might ask what that was used for.
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I have drawn money out to top up my normal account if its getting low and i maybe needed to buy something its not to lend anyone I'm very ocd with this it's very random i do it a lot sometimes, if I don't spend it or when I get paid on the 7th I will put it in my savings again. my savings it's quite messy but it's how my brain works I might take 50 out or 100 then put it back in within my ap , but it's only me doing this but prob looks strange to them but it will show up on my bank statements ive nothing to hide ,but I will explain I try build it up but then sometimes take it out if I buy stuff before I've been paid my u/c , I'm sure they will understand well hopefully they will ,you can see it on my statements you can see it's me taking it out and putting it back in and nobody has ever paid me large amounts back in my normal account for a long time it's just my benefits and me in and out of my account the occasional refund from asos or shien I do take cash out but it's if my mum goes food shop and I give her money to get my stuff as I'm vegan so stuff can be expensive or if u see a book or stuff I get her cash out etc but my savings is me I'm just very wierd my brain is strange people say I'm on the spectrum they may be right on that one if they ask should I just be as honest as I can already stressed about the not declaring my saving to them
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Yes, just be honest if they do ask about any transactions.🙂
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