BOSS: Life Happens Gauntlet
Lesson 12 of 12 in our free Life Events guide: a 5-minute money game with the key points below.
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Questions you'll answer
Mo's new flat: rent £780 a month. What's the maximum deposit in England (5 weeks' rent)? Remember: monthly × 12 ÷ 52 = weekly.
Final twist: Mo's new job is abroad from next year. Mo has a Plan 5 student loan from England. What's correct?
Quick facts
- Red flag: “Dear Taxpayer,” — Generic greeting. Phishing emails rarely know your name.
- Red flag: “you are due a tax refund of £612.80.” — HMRC doesn't email you about refunds out of the blue with a link to claim.
- Red flag: “Click here within 24 hours to claim” — Urgency plus a link = phishing.
- Red flag: “and enter your bank login details.” — No genuine organisation needs your bank login. Ever.
- Red flag: “Sent from hmrc-taxback-uk.com” — Not a real government address. Real HMRC uses gov.uk.
- Hand over your P45 and check your tax code → New job. Avoids emergency tax.
- Check redundancy, notice and holiday pay; claim Universal Credit early → Made redundant. UC's first payment takes about 5 weeks — start straight away.
- Check your deposit is protected and take meter readings → Moving flat. Protects your money and avoids paying for the last tenant's energy.
- Check you've been auto-enrolled in the workplace pension → New job. If you earn over £10,000 a year and are 22+, you should be enrolled.
- Prioritise rent, council tax and energy → Made redundant. Priority bills first when income drops.
- You usually need 2 years' service for statutory redundancy pay → Legit. Correct — though notice and holiday pay are owed regardless.
- Children inherit their parents' debts personally → Myth. Debts are paid from the estate, not usually by family.
- Student loan repayments start the April after you leave your course → Legit. And only when you earn over your plan's threshold.
- International students on NRPF can claim Universal Credit if they're short → Myth. NRPF means no access to most benefits. Uni hardship funds may help instead.