Help to save bonus

[AbsolutWitch]

Just wondering if anyone who has a help to save account has received their bonus yet?

My account says my bonus will be paid from September 1st 2020, I'm hoping I'll get it tomorrow but not holding my breath!

I should get mine in December. Hoping to put it towards Christmas. Hope you get it tomorrow.

You will get it on the day it says.

Thanks @bekindtome. December is the best time to get it!

That's just it @GisAFag it doesn't say a date...it says from 1.9.20, which could mean anything.

Fingers crossed it's tomorrow!

Yes i got mine last month. Went into my account 10th aug...

I read that as anytime in the month. For anyone who reads this thread but doesn't know - Help to Save is a brilliant government initiative for people on low incomes to save money. If you get working tax credit or child tax credit you can save up to $50 per month and the government pay you a bonus after 2 yrs. Look it up on gov.uk

Thanks @bluebluezoo I'll be lucky to get it tomorrow then!

I agree, help to save is fantastic. Not just the bonus but it's really helped me to focus on saving. Never really managed to save before but I've stuck to this religiously as I wanted the bonus, and now I've started using chip too to save small amounts.

It's definitely altered my money habits for the better

Also bear in mind if you are a couple both of you can open a hts account each.

If you both put the max 50/month away, you’ll get £1200 (Bonus) after 2 years, then a massive 6k (capital paid in & bonus) at the end of the 4 years.

It is well worth doing.

WTF no one pays us to save!!! 😡

I had my first bonus in July. It's a fantastic scheme.

WTF no one pays us to save!!! 😡

You don’t get interest on your savings? Or dividends on any shares? Contributions toward pensions?

Unless you’re particularly financially naive you do get “paid to save”. Maybe not quite as high return but you should be earning money on savings.

I get my first bonus in January 2021 something to look forward to

@LadyCatStark

WTF no one pays us to save!!! 😡

Well that must mean that you're fortunate enough to have an income high enough that you don't receive means tested benefits.

Otherwise you could have applied for a HTS account and put some of your money away to receive the bonus.

I agree that it's a very good scheme and as well as getting a little top up, also encouraged people to put money aside for a rainy day, or annual and irregular expenses like Christmas, school clothes, appliance replacement etc to get into the habit of budgeting over the longer term and reducing the need to take often expensive credit. Plus as it is targeted at households with a low income and hence not a lot of spare money, the actual amounts and cost to the taxpayer is relatively small.

Some people begrudge the air you breathe!

Thanks for the thread, it's prompted me to pay money in this month. Due a bonus payment 'from' 1st Feb next year.

I'm due mine from this month too OP. Fingers crossed it's soon, would be great to have it ready for the Christmas shopping. Although mine isn't the full amount.

Just signed up to one of these! Stumbled across it, and have shared with people I know.

I did something similar like this years ago, but was randomly picked to take part. I had to pay £600 or something like that into a Halifax account over the course of 18 months and at the end of the term they matched it. Looking back it was really strange!