thriving on an IVA budget

FiatFan_2

FavDaughter1 wrote: »

BUT, the BIGGEST BEST thing is still by far cold hard cash EVERY SINGLE WEEK FOR FOOD!

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

We always take our weekly budget in hard cash, but more often than not we'll over spend by £5-10 and end up paying on debit card and putting cash back in bank.

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.

Quite agree, even the wife commented how good it feels after 12 heavy years of debt-masses to to have to worry about how to repay it

cheesedoffwithdebt wrote: »

I do my budgettting using an Excel spreadsheet

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

Same here, did try MS Money but it didn't give me the flexibility that excel does. I've set up a similar few tables that keep me right with over/under spends daily. Become a bit of an addiction though, budgeted first 6 months, hoping it goes to plan, hence the signature to try give myself encouragement to save

debtfree2016

Spend most of my time scrimping and scraping due to a massive increase in my mortgage with my IVA company reducing my repayments by 15% not really touching the surface... Either that or increase the length of the IVA... (No Thanks)... Have found the best way is to have several pots.. draw all the funds from the bank less the amount required to cover DD's etc. and place the alloccated cash amounts in each pot. To increase any funds, we sell on Facebook, Ebay... set up a small ironing service cash only not much but enough to cover fuel for the month... But this is my second Jan in an IVA and its good knowing the door mat is not going to be covered in credit card bills...

cheesedoffwithdebt

debtfree2016 wrote: »

Spend most of my time scrimping and scraping due to a massive increase in my mortgage with my IVA company reducing my repayments by 15% not really touching the surface... Either that or increase the length of the IVA... (No Thanks)... Have found the best way is to have several pots.. draw all the funds from the bank less the amount required to cover DD's etc. and place the alloccated cash amounts in each pot. To increase any funds, we sell on Facebook, Ebay... set up a small ironing service cash only not much but enough to cover fuel for the month... But this is my second Jan in an IVA and its good knowing the door mat is not going to be covered in credit card bills...

you need alot of determination to get through that's for sure. I have "pots" but I do online banking and my pots are savings accounts at the Halifax, all with a different name on so I know what they are earmarked for. But as you say, there are no credit card bills littering the doormat, no sinking feeling when you see the MIN monthly repayment let alone the debt. It is good to just consider where you were, thanks for your post, it's made me remember "this too, shall pass" -the IVA is a journey not a destination

debtfreenewbie

Great thread guys,I am in month 3 so just a learner although have been doing my own dmp for 4 years.
I have severalsealed jars and different pre paid accounts soI can save up,my pre paid cards I didnt askmy pin for so can only use it online for car tax and shopping.
We are doing ok,just got to teachmy hubby when I sayno to takeaways itmeans he shouldnt go out and get them either.....

cheesedoffwithdebt

debtfreenewbie wrote: »

Great thread guys,I am in month 3 so just a learner although have been doing my own dmp for 4 years.
I have severalsealed jars and different pre paid accounts soI can save up,my pre paid cards I didnt askmy pin for so can only use it online for car tax and shopping.
We are doing ok,just got to teachmy hubby when I sayno to takeaways itmeans he shouldnt go out and get them either.....

That sounds great, if you have been doing a DMP there is very little difference, in terms of budgetting that is, legally there are vast differences.
I love takeaways, I hadn't thought about it until you said it, anyway they are off the shopping list at the moment.
It sounds like you have got your budgetting well sorted, my weakness is wanting to go out and buy clothes, like for fun not for necessity I can easily control the urge to get a takeout, can take them or leave them (pardon the pun) I have to do my clothes shopping in the sales- which is actually good, I can get much more for my money.

FavDaughter1

my hubby reaches the BIG 5 0 this year. just over a yr ago i put a add on the Freecycle site for a money box - got a lovely one.

i started saving 50p coins up & putting it into a saving account for his "special" birthday. he told me not to bother. i've saved £62 up now & his birthday isn't until later in the yr. at this rate we'll be able to buy him a really nice present & have a meal out - he's amazed! ha!

we save spare change in a old roses tin - that covers our little dog's injections.

re takeaways - hubby makes a mean chicken tikka in the slow cooker. yummy.
we take sarnies out buy a bag of chips, with a flask or a bottle of pop & take in the views nr home.
it can be hard,look for the small treats you can manage & keep on keeping on.

**if you can start a saving card now for Christmas in a supermarket,we did it - it meant some nice treats & we were SO GLAD we did it even though it was hard some times.**

cheesedoffwithdebt

well I've been selling items on Ebay since the new year- with the goal of building a Christmas fund- £30 so far I am really pleased. I am just doing one item at a time so it doesn't become too onerous - and I am just doing what I can I am not setting a goal, but I do feel incredibly motivated by these results, I will be saving out of my income as well but find the end of one year/beginning of another is always an expensive time and 2013 is the year that I want to put into practice learning from my mistakes, so the fund starts on 26th December every year from now!

UpToMyNeckInIt

...I too will be ebaying my unwanted Christmas gifts, or just saving them to give to someone else.

Ebaying is a really good idea: My Wife asked me get rid of the 'junk' in the loft. Some of it was old hifi stuff. Netted me £180. Valuable junk!!!

RuthnJasper

REALLY good idea for a thread. I'm in my last year in my IVA. It's been really tough, though I still say that it was one of the best things I've done. I've struggled desperately at times and, on occasion, had to decide whether it was me or the dog who had dinner that day (always the dog, the IVA wasn't the dogs' fault). Petrol and heating have been the other difficult points.

But I'm still glad I did it! The dog and I (new dog Giselle now that poor Jasper was taken before his time) have been writing a blog since 2006 - here's the entry for the day when we hit our personal "rock bottom":

http://jasper-thedogsblog.blogspot.co.uk/2008/10/saturday-28-july-2007.html

Of course an IVA isn't right for everyone, but I think a thread of advice and support for those actually in one, whatever stage of the process they've reached, it is a brilliant idea. It might also help those thinking of getting an IVA to learn about some of the factors to which they need to give serious consideration before making a decision. It might even prevent someone from taking out an IVA which would be doomed to fail from the start because it's not appropriate to their long-term circumstances.

cheesedoffwithdebt

RuthnJasper wrote: »

REALLY good idea for a thread. I'm in my last year in my IVA. It's been really tough, though I still say that it was one of the best things I've done. I've struggled desperately at times and, on occasion, had to decide whether it was me or the dog who had dinner that day (always the dog, the IVA wasn't the dogs' fault). Petrol and heating have been the other difficult points.

But I'm still glad I did it! The dog and I (new dog Giselle now that poor Jasper was taken before his time) have been writing a blog since 2006 - here's the entry for the day when we hit our personal "rock bottom":

http://jasper-thedogsblog.blogspot.co.uk/2008/10/saturday-28-july-2007.html

Of course an IVA isn't right for everyone, but I think a thread of advice and support for those actually in one, whatever stage of the process they've reached, it is a brilliant idea. It might also help those thinking of getting an IVA to learn about some of the factors to which they need to give serious consideration before making a decision. It might even prevent someone from taking out an IVA which would be doomed to fail from the start because it's not appropriate to their long-term circumstances.

lovely well written blog- you should write a book!

I started blogging too- I find writing my diary helps me to focus on getting through-not sure if anyone reads it but not really bothered-I read it and realise I am learning how to get through- agree with you RuthnJasper people need to consider an IVA carefully although it was really my only acceptable choice, and once over I know I'll be so relieved, had I tried to continue a DMP I would be paying it for evermore- you can only live on this kind of budget short term. Well done you anyway.:T