SOA questions

russfred1

Hi all,

Spoke to stepchange yesterday and they recommended bankruptcy as a solution which has made me a bit less worried about the months ahead and a bit of a reassurance that I'm doing the right thing.
However I just have some questions regarding SOA allowances etc.
The advisor said I would be able to put down £40 ( 2 adults 2 kids)a month emergency fund but reading some posts on here that is not allowed.
She also said that a holiday contingency was not allowed when I asked.
Finally, is child benefit taken into account as an income or is it left? Same question for maintenance payments that we receive.

Thanks in advance

tigerfeet2006

Are you both goin BR?

Emergency fund of £40 is allowed, £10 per person.

Holiday fund is fine to, would suggest £70.

All income has to be put down.

longtermplanner

You talked through allowances with StepChange. Did you think the overall amount of money was going to be enough? Because you don't have to spend the money on what your budget says

yes Child Benefit counts as income. That is because it is income for you to cover the children's expenses, which you will also be putting down. Sometimes people think Child Benefit is for the children, but it's not!