DMP entertainment budget

Moogles76

Hi all.

Long time lurker, first post.

I've just started a TPP with StepChange (who, as others have said on her, have been nothing less than fantastic). Got offered a full time job last week which is amazing - this means I'll soon be able to start making some dents in my debt which stands at 5k.

I'm just wondering what people's experience regarding having a modest entertainment budget. To be clear, I don't drink or smoke, have cancelled Spotify and LoveFilm etc. I'm not talking about holidays or going to West End shows but just the odd trip to the cinema, an affordable meal out etc. With my new salary I'll be able to pay my creditors way more than the original minimum repayments.

So I suppose my question is, given my particular circumstances, is it reasonable to expect some semblance of a social life while on a DMP? And do StepChange account for that in the budget?

Puzzcat

Hi,
You would be amazed at the amount of smokers who are on dmp's. Also magazines and dry cleaning are areas where you can increase your budget for your entertainment use. It would be better to have a generous budget and stick with the agreed repayment than have to lower the payment later on.
Puzz

Kate_fixing_it

I have to second what Puzzcat says. Its better to be generous now rather than suffer later. If you find you haven't spent all the budget perhaps put it aside for full and final offers?

I'm paying back around £12k. I also work full time. As part of our entertainment budget we pay 4.99 a month for Netflix. There are 6 people in this house and one family trip to the cinema would cost more than the annual cost of Netflix. If things get tight it'll go but for now it's there and it's a real blessing at times. For example I got a bit hooked on Breaking Bad - that was over a month I chose to stay in watching TV and not spending money.

I'm not saying that's right for you but it's helped me.

Congratulations on the job and I wish you lots of luck for your debt free journey.

Kate x

Moogles76

Ah, Breaking Bad on Netflix... Got me through the final dark days before I rang StepChange

Thanks guys. I understand that StepChange don't check but I don't want to lie or take the mickey. Just had the thought of me going back and forth between home and office with nothing nice ever happening in between!

Mr_Mink

I believe PayPlan gave us £25 for entertainment even though we told them we only use £9.99 for Lovefilm. They said it's best to have a bit extra to be able to go out otherwise the plan is more likely to fall apart (because we've gone insane and splashed out).

FireWyrm

I cancelled Sky and therefore the TV license giving me £60 towards 'entertainment' of which, a subscription to LoveFilm is taken. The rest sits in an account and when I want a book off amazon, or a DVD, or something else not exactly budgeted for...that's where it comes from. The rest of the money is budgeted to the penny.

lizzy23

I am also of the opinion that a DMP is long term, so you need to push the budget allowances to the max, the whole point of a DMP for me was to get my live back to a certain degree

National_Debtline

Hello there,

With most debt agencies and creditors, 'entertainment' is listed within a section of the budget called 'other spending'. This section also includes health costs, hair dressing, sky/cable/internet, rental agreements, school meals/meals at work, pocket money/school trips, lottery etc., hobbies, birthdays & christmas and vet bills.

We will generally look at how much all of those amount to as a whole. As such it's more than possible to have a generous allowance for entertainment if some of these other sections are low. You can find out more about the budget via our website: http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#5

Stepchange do use a slightly different budget to us, but the principles should be similar.

I think lizzy23 makes a useful point. A DMP is a long term strategy, as such the budget needs to be realistic. I often see posts here on MSE where people champion living on the absolutel breadline. I'm not sure doing something like that is sustainable - although conversely creditors are unlikely to accept a budget if the figures are not reasonable.

I hope this makes sense!

Best wishes,

David @ NDL.

Moogles76

Thank you all. Even with a reasonably generous ents budget I'll still be able to pay £500 per month (total) to my creditors. (Total debt is £5000)

Incidentally, (probably belongs on another thread) but have been pretty amazed at how nice TSB have been (so far)! Read bad things about Lloyds, maybe they've had a change of heart!

Santander on the other hand... but then they've stopped interest and charges so can't complain.

Anyone who's struggling out there, give StepChange or National Debtline a call! Nothing to lose...

[Deleted User]

Moogles76 wrote: »

Even with a reasonably generous ents budget I'll still be able to pay £500 per month (total) to my creditors. (Total debt is £5000)

That's just 10 months.

You should be DF in no time. :cool:

eyeopener2

10 months is nothing, in fact I'm surprised you need a DMP with it being so short.

Anyway..

I had £20 entertainment allowance and it was fine. Didn't really do much for all the dmp time and made sure that the debt came first in every instance.

I suppose I sort of punished myself but it has made coming out the other side a bit weird knowing I have money, but I'm a bit scared to spend it!

Maybe there is a lesson in moderation for me.