To ask how I can successfully ringfence this money? (Please don’t post for moral judgement)

[Jaalp]

I am a single parent to a 3 year old who will start school in the next two years. I have saved up a significant amount of money for schools fees. As a single parent I am constantly worried about job loss or anything else that could affect things. I am aware that if for some reason I was made redundant, for example, if I have more than a certain amount in savings then I would be expected to use this before claiming universal credit etc.

I have no intention of claiming universal credit but life happens and I have to be conscious of the potential things that could happen.

My question is, is there any way to put this money in an account for my child that would be protected as theirs and not counted in an assessment for universal credit etc should that ever happen?

Please don’t make this is a private school bashing thread or about playing the system etc. I’ve worked hard all my life and intend to continue to do so. Thanks.

No it doesn’t at all. It’s your view of entitlement that people disagree with plus stealing from the taxpayer

I don't want to potentially fund your luxury choices with my taxes whether you think they "matter" or not.

@Bachboo a trust fund is legal. That means it’s not stealing.

@ilovesooty there’s lots of people claiming UC with fancy cars and expensive technology. You’re already funding that unfortunately.

The editor of what?

@ilovesooty the poster was making a joke…

Most parents do care about their DCs education in my experience. But also about their DCs safety and health, that is what I am shocked by. That you want to lock down your savings in a way that removes your ability to feed your child or keep them safe and warm. You do not seem to prioritise that.

Would you care to provide some evidence of that?

I would bet my home on the fact I’ve made more sacrifices than most on the thread. Mot many people would have saved so much in the way I have and now moving forward I hope to be able to spend on myself after putting my child first already on a financial level.

I don't know how you've come to the conclusion that you've sacrificed for your child to a degree that far exceeds what others do. If you have managed to set aside $200K and your child is still pre-school age, all I can say is that you must have an income that far exceeds the average, particularly for a single mother, so you can't be all that strapped for cash.

Dear Madam,
The Times.
Yours, &c.,
MorL

If you've saved up a substantial amount presumably via a good job why wouldn't you be able to get another decent paying job if you were made redundant. Also why aren't you getting decent financial planning advice rather than inviting an anti private school pile on on an anonymous chat with people who you would likely never ask for advice IRL or even come across. Also it hasn't happened and you're not on Universal credit or have any intention of being on so why all the fuss? Seems odd.

And we will be funding you as well when you already have the means to support yourself. You will be no different to those people.

Why should I waste my time when they have no power to deal with this sort of behaviour?

I am assuming it’s catastrophical thinking aloud, which is what happens when you are worried about something which might never happen. But instead of support, OP is being hounded.

How do you know that? Sounds straight out the Daily Mail. Do you even know how much you get on UC?

And private school is not an essential, which is what UC is for. It is a luxury. Your kid will still have an education anyway, just not the one you have a preference for.

Much like posters on mumsnet then?

Nonsense. You are a family unit and are purchasing an expensive luxury service for your child.
You do not appear to be interested in the much repeated sensible advice here so I won’t bother.
However, please beware the additional costs, universal credit will rightly not touch the sides of them ! This year I have spent an additional £3000 on trips, uniform, books and music lessons/ instrument hire on top of fees. Also fees rise every year with both inflation and by school year ( year 13 costs more than year 7).
It would be unfortunate and disruptive for your child to have to leave their school because you cannot plan sufficiently.

Dear @ilovesooty,
It is an often-mocked English middle-class tradition to write rants to the editor of newspapers instead of actually taking substantive action. Sometimes they even use archaic styles of letter-writing.
Yours, &c.,
Disgusted of Tunbridge Wells.

Honestly OP I’m really not convinced you need this.

It’s beginning to feel like a wind up

Jaalp
@ilovesooty there’s lots of people claiming UC with fancy cars and expensive technology. You’re already funding that unfortunately.

And maybe the people claiming had these things prior to needing to claim? Lots of people lost businesses and jobs during lockdown and had to use any savings - as far as I'm aware you don't have to give details of 'possessions' when claiming

I genuinely wonder why a person who is apparently clever enough to save up to 200k would need to come on here and ask the question you have

Is there a reason why you’re not using the money to buy a home near an excellent state school, OP? Apologies if you’ve mentioned this and I’ve missed it. That wouldn’t be an issue if you needed UC temporarily.

@Chateauneufdu as I said in my OP as a single parent I worry about these things. Anyone would with only one income.

@BESTAUNTB i am a single parent and want to stay close to family.

@Quitelikeit there’s nothing ‘clever’ about saving. I do not work in financial planning but I am able to transfer some of my income into savings each month as a basic understanding of how to accumulate money for fees.