Savings and UC

[Skyfullofstars74]

Hi, I'm on universal credit to top up my wages. Youngest son now at uni, so have recently stopped receiving child element. In preparation for this, over the last couple of years I have been saving a bit here and there where possible. My question is, does the savings limit of £6000 without penalties, include my current account which is just used for bills etc? Concerned that after I've been paid my wages, the total amount I have, will be over the limit for a couple of days. Thanks in advance for any advice.

It depends on the situation on the last day of your assessment period, but a current account which is covering day to day expenses is unlikely to count towards savings unless it builds up significantly.

I think you’d be ok. I took out a loan to buy a car and it sat in my account for a couple of days. I think savings are different to earmarked to pay a bill in the short term ( less than an assessment period)