Financial Statement Help Please

Conker2008

Hi all, Im currently composing a financial statement to be sent out to creditors.

Ive got the template sorted en excel together with calculating pro-rata payments and its all calculating well.

My question is, although Im pretty good at shopping on a budget and keeping costs down, how much can I get away with on expenses like clothing, food, toiletries ........? Is there any sort of formula I can use ?

In my household we have 2 adults, 1 teenager at school and 2 preteens, as well as I have regular access to my 3 sons, 1 teenager at school and 2 pre teens.

Is it acceptable to add gifting to the list to cover Christmas and birthdays ?

Dont get me wrong, I am totally serious about getting my debts dissolved but am reluctant to put actual figures in as i know this is the minimum I can live on. My worry about doing this is as soon as anything increases (food costs, fuel ect) I would have to recalculate and try to renegotiate, which Im doubting once they have accepted a payment amount they would accept less so am trying so set into place a buffer before I start to ensure I am making manageable offers and dont default.

Thanks in advance for your help

Tixy

Hi

I would look at the CCCS debt remedy tool - if you complete it it actually gives some guidelines amounts to use for some of those costs you mention. Should give you an idea to start.