Budget planner

64jane63

Please can some one help me am about to start filling out a budget planner maybe having to go for IVA, but not sure what to do over council tax, as we only pay over 10 months do we calculate using the whole figure then dividing by 12 to get a monthly figure? Or just put in what is paid for the month we fill the form out? There are a few bills similar to this i.e. water

spenderblender

64jane you are right. get yearly amount and divide by 12. The same with your wages, if you are paid 4 weekly they will work out you are paid 13 times in one year so add up 13 and divide by 12. They really do bleed you to the last penny coming in.

MIVAA

spenderblender wrote: »

64jane you are right. get yearly amount and divide by 12. The same with your wages, if you are paid 4 weekly they will work out you are paid 13 times in one year so add up 13 and divide by 12. They really do bleed you to the last penny coming in.

I suppose you actually meant 'account for every last penny coming in'

Seriously though, it's not in anybodies interest to make a mistake at this stage of the calculation, because if things like this are missed, they will be corrected by the IP, and at that stage it will be too late to make adjustments to your expenditure to compensate for any potential increases in the disposable income.

Which would inevitably lead to higher IVA contributions. :eek:


64jane63, a good point well made. :beer:


MIVAA