thriving on an IVA budget

patchy987

FiatFan wrote: »

Congratulations patchy, gi's that sounds like a tough 6 yrs we certainly couldn't cope on that. Can understand about the house repairs, I think if we'd stayed in our mortgaged property we'd ave cracked up too as it was needed a fair amount of work that couldn't be budgeted for.

Thanks, it was tough, I just wish I had known about these forums before we started and things could have been so different

It's crazy but I'm getting so excited about having my first haircut in 6 years next week, it's the little things like that I love now

cheesedoffwithdebt

patchy987 wrote: »

FiatFan wrote: »

Congratulations patchy, gi's that sounds like a tough 6 yrs we certainly couldn't cope on that. Can understand about the house repairs, I think if we'd stayed in our mortgaged property we'd ave cracked up too as it was needed a fair amount of work that couldn't be budgeted for.

Thanks, it was tough, I just wish I had known about these forums before we started and things could have been so different

It's crazy but I'm getting so excited about having my first haircut in 6 years next week, it's the little things like that I love now

I can understand that! I go to a trainee hairdresser night and get a cut for a fiver every so often, it will be very nice to have some of the things I enjoy but I think I shall probably be doing house repairs for a while somehow:(

patchy987

cheesedoffwithdebt wrote: »

patchy987 wrote: »

I can understand that! I go to a trainee hairdresser night and get a cut for a fiver every so often, it will be very nice to have some of the things I enjoy but I think I shall probably be doing house repairs for a while somehow:(

Same here, we have loads to do to our house, silly really cause if we had been allowed to fix the problems when they started they would have only cost a few hundred, now because things got worse its gonna cost thousands !!!

FiatFan_2

patchy987 wrote: »

Same here, we have loads to do to our house, silly really cause if we had been allowed to fix the problems when they started they would have only cost a few hundred, now because things got worse its gonna cost thousands !!!

This is a problem we discussed at length with our advisor during the draughting stage, the cost of repairs against what was allowable in the iva. With the costly repairs that our house needed pre-iva, we'd have struggled to get through 6yrs with all the problems it had. Thankfully now in a rented property, all repairs are at the landlords expense, like the new boiler just installed.

cheesedoffwithdebt

FiatFan wrote: »

This is a problem we discussed at length with our advisor during the draughting stage, the cost of repairs against what was allowable in the iva. With the costly repairs that our house needed pre-iva, we'd have struggled to get through 6yrs with all the problems it had. Thankfully now in a rented property, all repairs are at the landlords expense, like the new boiler just installed.

Yes so did I, but even though I try to save, obviously things crop up and eat into savings so I doubt I'll be able to get any major repairs done, you were probably wise to sell a house that did need alot of work though at this time. I am trying to view this IVA period as temporary (which it is) and once over I have a goal of living on the same budget and using what was the IVA payment to get my house sorted out.

cheesedoffwithdebt

anyway- back to thriving- what's your best charity shop buy?

Mine is a Boden dress bought from Oxfam last summer- don't think it had even been worn, for a tenner- it's linen and is really lovely.

I've also had a lovely wool cardigan by Maine at Debenhams, a Boden dress which I bought for £12.99 and sold on ebay for £11- so my trips in have usually been very productive although you do have to call and and expect either to find absolutely nothing or something you really should get. I saw a Windsmoor coat in there a few months ago, hesitated and by the time I went back it had gone.

FavDaughter1

we did a full & final IVA (repaying my parents). we've had so many really,really hard months. at times i find it very depressing. month after month being really on the breadline but we are keeping our heads above water (only just meeting paying Mum & Dad some months - we have a agreed lowest figure to pay). Dad has said we can take a payment break if we need it - tempting with Christmas but we didn't.

i still wonder if we should have gone BR at times as things are so,so tight but we are where we are & that's that. we plan to pay extra off a secured loan each month when we finish m & d - that'll take years to sort out.

BUT, the BIGGEST BEST thing is still by far cold hard cash EVERY SINGLE WEEK FOR FOOD! I've been married a long time & never managed to get my hubby onto a budget the way he is now. I just hope he keeps his promises this time to stick to a budget. Some weeks its tight but we are eating quite well.
We tend to buy clothes in the sales, a friend sometimes gives me things.

How good does it feel to not be dealing with those dreaded January Christmas bills you can't afford???:T:j

UpToMyNeckInIt

...I was just thinking the same thing about Christmas. It was the first one in 15 Years where I have not had a hefty credit card bill in January. Feels great doesn't it!!! (Especially when all my colleagues are moaning about their bills). Being insolvent has its small compensations I suppose.

Regarding budgeting, you can download (free) Microsoft Money. I have now got all my accounts on there, and find it really useful. You can enter your Monthly budgets for each item, and it really helps you to keep track of all the bills etc. You can event set it up to automatically enter in bills/deposits etc, so you can see your projected cashflow over the coming month(s). (Only downside is getting MS Money to download from your bank. I think some of the weblinks are out-of-date, so had to do it all manually).

cheesedoffwithdebt

UpToMyNeckInIt wrote: »

...I was just thinking the same thing about Christmas. It was the first one in 15 Years where I have not had a hefty credit card bill in January. Feels great doesn't it!!! (Especially when all my colleagues are moaning about their bills). Being insolvent has its small compensations I suppose.

Regarding budgeting, you can download (free) Microsoft Money. I have now got all my accounts on there, and find it really useful. You can enter your Monthly budgets for each item, and it really helps you to keep track of all the bills etc. You can event set it up to automatically enter in bills/deposits etc, so you can see your projected cashflow over the coming month(s). (Only downside is getting MS Money to download from your bank. I think some of the weblinks are out-of-date, so had to do it all manually).

I do my budgettting using an Excel spreadsheet-

sheet one is my monthly income and outgoings, and I note the dates that ddms leave my account. I check this against my online banking every day.

sheet 2 is a weekly round up of my food budget, where I record everything I spend to make sure I stay on track

sheet 3 is a summary of what I am saving for, eg car tax, servicing, MOT, house repairs etc.

I cannot get my head round MS Money- might not have tried hard enough I don't know!

UpToMyNeckInIt

...to each their own: whatever works for you is great. Excel is of course an excellent piece of software - I use it to record all my tax, income and expenses info. for my accountant. Works out a lot cheaper than paying him to sort through envelopes full of random paperwork.

The important thing for all of us in IVA's is to budget somehow.

It did take me a fair few hours to get MS Money set up and working, I'll grant you!!!

Now it is though, I find it helpful.