Benefits savings question

[Strawberryfields4ever]

I’ve got about £4.5k saved. When my benefits go in it takes me to around £6k, but that money’s for bills etc.

Do I need to declare it just because it hits £6k briefly, or is it only counted as savings if I don’t spend it that month?

Op I have no idea about the threshold in distant memory I thought 16 was the limit ?
However can you make that money work for you and perhaps have it in a cash ISA i think best rates are 3% and then perhaps put one grand into a stock and shares ISA broad index fund ?

It’s not classed as savings OP, don’t worry.

It is 16k maximum savings, don't worry.

Yes I would move your money into an isa .

They start removing UC once your savings get to £6k, but someone posted a link the other day that said that if the money was spent in the assessment period it didn't count as 'savings', so this would apply to anything that goes on bills or other living expenses within the month.

If you're close to the limit, it does mean that there's no incentive to be frugal and you might as well spend your money on a better lifestyle because otherwise you'll start to lose UC.

It could be argued that if you can save money, you don't need UC, but seeing as the £6k/£16k thresholds haven't changed for years then I wouldn't feel beholden to that.

If that money is all in current account it could muddy the waters? I would put the 4.5 in savings account. Then the benefits money you get you just spend day to day. But if you have 6-16 they take some money off you. Over 16 then you can't claim it anymore.

Oh im very sorry I misinformed I didn't know uc was different, although if money is leaving is it classed as savings? I would maybe spend some just so you don't hit the threshold.