hi there, this is urgent and i don’t know what to do.
i’ve been on centrelink payment (youth allowance and now just regular jobseeker) since 2023. at the time i only had just less than 1000$ in my bank account and that was declared
since then i have opened 2 new savings accounts and have combined of just over 6000$ within them:
- less than 200 in my everyday spending account (no interest)
- about 6000 in my saving account (1.95%pa)
- about 200 in my saving account, specifically made for emergency vet bills for my pet (1.95%pa)
i’m saving for a car and to be able to move out, as well as putting money aside every payment for an emergency vet fund for my pet, since i’m not paying for pet insurance.
i didn’t quite understand centrelink when i first went on the payments and all the rules were not explained to me, so i wasn’t aware until recently that i was supposed to be updating my assets every 2000$.
i’m worried about what will happen if i update them now. i’m worried my payments will be cut drastically, as the amount i get is what i’m currently surviving on and i don’t know what id do if it gets cut