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I am quite concerned at the talk of recession as that means job losses though I do want house prices to come down.

My point is if you are saving for a house and lose your job, you may have to live off those savings. So house prices come down but a house is still out of reach.

If you buy a house and therefore have no savings the goverment helps out.

What do you do to protect your savings in these uncertain times?

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I am quite concerned at the talk of recession as that means job losses though I do want house prices to come down.

My point is if you are saving for a house and lose your job, you may have to live off those savings. So house prices come down but a house is still out of reach.

If you buy a house and therefore have no savings the goverment helps out.

What do you do to protect your savings in these uncertain times?

Gold and a gun?

When the proverbial hits the fan properly it will be very messy, if you can keep hold of your job you will be laughing, if you lose then chances are your friends will to and you will have something else to talk about.

The wound has been left to fester and now it needs a amputation.

EDITED:

but dont worry about it, you personally have no control over it, just try and look after what you can and try yoru best to sit it out.

Edited by theChuz

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I am quite concerned at the talk of recession as that means job losses though I do want house prices to come down.

My point is if you are saving for a house and lose your job, you may have to live off those savings. So house prices come down but a house is still out of reach.

If you buy a house and therefore have no savings the goverment helps out.

What do you do to protect your savings in these uncertain times?

I just got made redundant so I'm going to find out first hand. Go down to the dole office tomorrow and tell them I have no savings (that will be a lie) then wait and see if they bother to check how much money I have saved up. Last time I claimed any benefit was about 15-20 years ago so I dont know the system now. If I say I have no savings then I'm guessing they're going to pay most of my rent.

Anyone got any tips?

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Buy some old antiques so you have no visible money then enjoy living in your house (with nice furniture) with most of your rent paid.

Please be careful as you may just stay on HPC all day rather than looking for work ;)

You have paid into it for 15-20 years, i see no touble in you getting a bit back.

(Your savings are your savings)

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I just got made redundant so I'm going to find out first hand. Go down to the dole office tomorrow and tell them I have no savings (that will be a lie) then wait and see if they bother to check how much money I have saved up. Last time I claimed any benefit was about 15-20 years ago so I dont know the system now. If I say I have no savings then I'm guessing they're going to pay most of my rent.

Anyone got any tips?

swear alot as your talking to them and say stuff like 'nuffink' , slap on some bling but put a faint bit of green stuff on your skin so they can see its genuine chav bling.. they wont question you too much.

EDITED:

your just the pack leader , pretty much all of us will follow.

Edited by theChuz

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swear alot as yoru talking to them and say stuff like 'nuffink' , slap on some bling but put a faint bit of green stuff on your skin so they can see its genuine chav bling.. they wont question you too much.

:lol:You're probably right. I'll get the wife to dress up like a slapper, borrow a couple of kids and I'll be quids in. Better still, why not just adopt the lifestyle and do it properly on a permanent basis.

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When claiming on the dole, sorry Job Seekers Allowance, there are two types you can claim:

- Contribution based

- Income based.

Contribution based: you have to have a number of years of National Insurance payments, it doesn't matter what savings you have.

Income based: you must have less than £6k (or £8k, can't remember which) in savings, before claiming. You don't need to have paid any NI contributions.

http://www.jobcentreplus.gov.uk

If you unemployed for 6months (or something like that) you go onto the New Deal http://www.newdeal.gov.uk/

How do I know this? I'm not telling!!!

Hope that helps!

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Buy some old antiques so you have no visible money then enjoy living in your house (with nice furniture) with most of your rent paid.

Please be careful as you may just stay on HPC all day rather than looking for work ;)

You have paid into it for 15-20 years, i see no touble in you getting a bit back.

(Your savings are your savings)

Been thinking along these lines for a while, but I'd like gold coins instead of the antiques as they'd be wasted on me.

You're right though and I do feel that having paid into the system for so long then I should get something back. Trouble is that the system doesnt work that way. :(

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When claiming on the dole, sorry Job Seekers Allowance, there are two types you can claim:

- Contribution based

- Income based.

Contribution based: you have to have a number of years of National Insurance payments, it doesn't matter what savings you have.

Income based: you must have less than £6k (or £8k, can't remember which) in savings, before claiming.  You don't need to have paid any NI contributions.

http://www.jobcentreplus.gov.uk

If you unemployed for 6months (or something like that) you go onto the New Deal http://www.newdeal.gov.uk/

How do I know this? I'm not telling!!!

Hope that helps!

Thanks for the info Jason. Cant find anything on contribution based though as it would probably apply to me. I thought perhaps it had been phased out.

Sorry for hijacking your thread Pensive.

Sine270

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I just got made redundant so I'm going to find out first hand. Go down to the dole office tomorrow and tell them I have no savings (that will be a lie) then wait and see if they bother to check how much money I have saved up. Last time I claimed any benefit was about 15-20 years ago so I dont know the system now. If I say I have no savings then I'm guessing they're going to pay most of my rent.

Anyone got any tips?

If i remember correctly, when i created my ISA savings account I had to give my NI number. Might be wrong on this one.

Surely they can check if you have used your ISA allowance? I'd definately try lying though.

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The one single, solitary advantage of the student loan.

Your own personal balck hole. I haven't paid mine off early, as the interest payable is less than I earn on my savings. Come redundancy, the loan gets paid off the day before my visit to the DHSS office, taking me below the threshold...if I get beyond the level where my SL is capable of wiping my savings out, all my cash is going into an ISA in my (retired) parents name.

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The one single, solitary advantage of the student loan.

Your own personal balck hole. I haven't paid mine off early, as the interest payable is less than I earn on my savings. Come redundancy, the loan gets paid off the day before my visit to the DHSS office, taking me below the threshold...if I get beyond the level where my SL is capable of wiping my savings out, all my cash is going into an ISA in my (retired) parents name.

Come redundancy, your contributions to paying it back can be put on hold. Probably better putting all of the cash into the ISA and buying antiques/gold/whatever else takes your fancy and likely to appreciate.

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Come redundancy, your contributions to paying it back can be put on hold. Probably better putting all of the cash into the ISA and buying antiques/gold/whatever else takes your fancy and likely to appreciate.

Yes, but if you've got a stuffed ISA - you get income support rather than proper dole. My brother was stung by that very event - because he had saved his money through 10 years of employment post university, rather than spending it on satellite dishes, trips to Ibeeeffffaaa and children by 3 different women, he got less money from the DHSS when Agilent made his entire factory redundant than someone who'd been p1ssing their wages up the wall for a decade would have got.

The SL is a handy way of getting rid of savings to claim max. benefits should the need arise, as it will for many over the next 5 years, I'm afraid.

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They will get you through the income tax you pay on your savings

They are netwoken-ed up now, be carefull!!!!!!!!!!!!!!!!!!!!!!

If you have savings, get them out of your name, otherwise "Gords" boys and girls will get yeh eventually :blink:

Edited by Panda

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Job seekers allowance can be claimed for 6 months regardless of how much money you have got ( savings or redundancy etc.), as long as you have paid the requisite national insurance contributions.

If you have been paid some money in lieu of notice then this amount is counted as wages and you can`t claim job seekers until the period of time covered by this money has passed. So you could wait for this time to pass before you make your official claim. I think you can do this and then claim your 6 months job seekers. But check this.

After the 6 months you have to revert to means tested benefit and then you will be stuffed!!. But hopefully you will find a job before then :)

Limpet :D

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Doesnt anyone here feel morally obliged to tell the truth no matter what a shitty society we live in?  Perhaps honesty is just a luxuary for those who can afford it.

I think it's like the difference between tax evasion and avoidance. Evasion you go to prison for. Avoidance is perfectly legal (if possibly dodgy ethically depending on your views on tax).

I'd never go do tax evasion - but if I don't think my taxes are being well spent I'm definately going for avoidance.

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Doesnt anyone here feel morally obliged to tell the truth no matter what a shitty society we live in?  Perhaps honesty is just a luxuary for those who can afford it.

You're the first person to object to the advice dished out on this thread!Still, the people here are interested in their future + their finances, so letting go of hard-earned savings isn't really going to be that attractive, especially when you face some time without any income.Honesty is definitely a luxury when it means you lose everything you worked hard to save for.It seems the government would rather it if you started back in work having spent ALL your savings.Maybe they like to see people making a 'fresh start?!!'

Edited by Homebird

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I just got made redundant so I'm going to find out first hand. Go down to the dole office tomorrow and tell them I have no savings (that will be a lie) then wait and see if they bother to check how much money I have saved up. Last time I claimed any benefit was about 15-20 years ago so I dont know the system now. If I say I have no savings then I'm guessing they're going to pay most of my rent.

Anyone got any tips?

I signed on a couple of months back and things have certainly changed in the 16 years since I last did so. They asked me to take in numerous ID, such as passport bills etc, and also asked to see last 3 to 6 months of bank/savings statements - they then photocopied the lot! If you just take in normal bank statements they will likely find and investigate transfers to other savings accounts if they have happened in that period.

Getting your rent paid will fall under housing benefit so i dont think it matters whether you are on contribution or means based jobseekers.

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definetly go for the gold

be carefull however, gold is the single most hated thing for any government.The reason being its an asset you can carry with you and is completely untraceable.

if you purchase over a certain amount in a year a coin dealer must inform the inland revenue, and they will definetly snoop on you becuase they realy hate gold buyers cause as said there one of the very few people that they dont have control over.

They have no records of your wealth with gold, but they do with shares/property/money in the bank/pensions/income ect ect

When buying buy in little amounts (couple coins) from many diffrent places and build it up gradually. also consider some silver bullion as well.

dont buy antiques there most likely to drop in a recession like almost anything else.While gold has the opposite affect that in uncertain times it is most likely to rise(hence the recent rises its up 35% this year already)

Then you can spend your gold a coin here and there, sell a couple on ebay, sell to a dealer ect ect.

Trust me when i say governments totaly and utterly detest gold, and even the mere sniff someone is collecting it is enough for them to be suspicious.So if governments hate it it just proves how powerfull it realy is.

Edited by homeless

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The point I am making is that the system is loaded against those that save and act responsibly i.e don't take on loads of debt.

I remember a few years ago when one of these benifits were introduced to help low income families, a friend of mine was just outside the qualifying level and was saving to buy a new carpet. She discovered by taking a loan which she'd never done before she qualified for a top up.

Therefore the system encouraged her to take on debt.

I had to sign on sick a couple of years ago. I was advised I should apply for income support but as I had £9000 saving I wasn't entitled. These savings were to cover the shortfall in my endowment, it didn't matter, savings are savings. If I'd used the money to pay off the mortgage I would have qualified. (I was waiting to come out of a fixed interest mortgage and pay off a chunk,one doesn't expect to get sick)

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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