Savings help for low earners

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Foggy

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Post by Foggy » Thu Sep 13, 2018 12:40 pm
The government have announced a Help to Save Account for low earners on certain benefits. Basically, if you can save £50 a month (maximum) over 4 years you get £1200 tax free bonus added. You can save less, but will get less --- 50% of the saved amount.

I imagine the bonus would get swallowed by the IVA if you are still in one (first half of the bonus paid at the end of two years) and, it might be hard to pop away even a few quid anyway ... but for those on a low income and qualifying benefits, once you have come out the other side, this could be useful.

Have a read here: https://www.gov.uk/get-help-savings-low-income
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Thu Sep 13, 2018 3:08 pm
Good for some our low earners.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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