It's not going to be easy.....

MrsPennyPot

but we can do it (I hope!)

Have been reading threads, diaries and tips on MSE for some time on and off but have registered today as "in for a penny, in for a pound" I say!! (No pun intended!!) Current unsecured debt £25K.:eek:

Since LBM - Mr PP and I have spoken to a debt counselling charity who advised us that looking at our budget we would qualify for an IVA. At first we were extremely fearful of taking this option, after a few days to digest and research information we then became sort of accepting of the fact that this may be the way to go despite the consequences that come hand in hand with an IVA.
THEN, we had a second LBM when we realised that we haven't even tried to pay off the debt ourselves and that we should at least try this before considering other options!!

Mr PP and I have yet to sit down and go through our SOA in detail - on the to do list! However, a little success today as we managed to get our telephone and internet bill down from £35 per month to £17!!:T

Have also realised that we have soooo much to sell, going to set up an ebay account asap.

Another area where we can save is food/takeaways and the cheeky bottles of wine that seem to find their way into the trolley, even mid week sometimes!!

So much to think about and do, not sure where to begin!! Think a list might be in order.....although can get a bit OCD with these!!:o

Learning2Budget

Hello. If you post a statement of affairs we can help you look at ways to save money. There should be a link somewhere above on the new to this thread. Also keeping a spending diary is an amazing way to see where your money disappears to.
Good luck!
L2B.x

MrsPennyPot

Thanks L2B, will post up an soa asap.....

I think the spending diary will help us as it seems like our money does have the ability to just evaporate!!! Also have seen others on here just use cash too....this is also something we don't do.

Have got a whole chicken to cook for tea tonight so off to the old thrift board to see about some tips for making this go further!!

MrsPP.x

MrsPennyPot

Just out of interest.........how much is about right for feeding a family of 4, (2 adults, 2 children)??

fatbelly

The Statement of Affairs calculator is here:

http://www.makesenseofcards.com/soacalc.html

Remember to 'format for MSE' and remove any links before posting.

If you put down what you actually spend at the moment (food etc) then the folk here will make comments.

It'll also give us the chance to review the advice that 'charity' gave you - not one that specialises in IVAs by any chance, was it?

Learning2Budget

We are on a cccs dmp and they allow us 400 a month but it will depend on your income as to how much you can budget. Tbh if i were more mse then 400 would be more than enough but Im still learning.x

plum44_2

We are a family of 5 and our budget is £220. We HAVE to stick to this in order to pay off our debt. It works but you do have to change your headset
and DONT take any family to supermarket with you...

Triggles

We have a family of 4 and our current budget is £250. We have a slightly higher budget (I'd prefer £200) as one of our child has SNs, and we have to pay for some extras (larger nappies, extra food items due to food problems).

Definitely meal planning helps as well buying basics and store brand. OS board has loads of ideas to keep grocery bill down.

determined_new_ms

I should think you could reduce ur shopping bill down to £220-250 for a family of 4, but it will take time and effort - meal planning, writing out a list of things needed to buy, and with the exception of last minute substitutes if there are reduced items when at the super market, sticking to the list, eating seasonal veg, packed lunches every day, cooking biscuits & cakes while the oven is on to make the most out of every spend, checking through the fridge/cupboards daily to make sure nothing goes to waste and adjusting meal plan accordingly, going to the supermarkets at reduction times & freezing, keep working at never throwing anything away! This all takes time and improves over time.

I did the fiscal fast in March - where you just eat out of the cupboards/freezer for a week (or longer) and only buy milk if you have run out. It was amazing we were able to eat well for 17 days without shopping! Although admittedly meals became unusual combinations towards the end!

Good luck x

Learning2Budget

i am ashamed now at the amount i spend!!!! Must try harder!x

determined_new_ms

ah shame nd guilt completely wasted emotions! Turn that into motivation and then u'll get somewhere!