Stepchange/DMP/What I can afford

BatGirlPants

Hello!
I have a bit of a question - I've just done the stepchange debt remedy and it has suggested a DMP.
The expenses bit though - that tells you what you have 'left' to pay to creditors - that doesn't take into account Christmases or Birthdays etc does it - now I get that frugality is important etc but I have 4 kids and couldn't not spend anything on them at all. We don't go ott at birthdays or Christmas with anyone but I kinda need to have some money for those occasions...
Suggestions?

sourcrates

You account for it elsewhere, add an extra £10 a month, here and there, or add a habit you don't partake in, and count that as your Christmas/birthday fund.

HappyMJ

xSuziex wrote: »

Hello!
I have a bit of a question - I've just done the stepchange debt remedy and it has suggested a DMP.
The expenses bit though - that tells you what you have 'left' to pay to creditors - that doesn't take into account Christmases or Birthdays etc does it - now I get that frugality is important etc but I have 4 kids and couldn't not spend anything on them at all. We don't go ott at birthdays or Christmas with anyone but I kinda need to have some money for those occasions...
Suggestions?

You put the maximum figure you can for other things such as Groceries. Stepchange recommends a rather high figure for a family with 4 children you can spend less than the recommended figure and buy presents with the remainder.

If you were to go BR then you're allowed £20 per person per month for holidays which affords you a budget UK holiday for a week. You can put that into a DMP as well...but it depends on what priority debts you have. For example - Council tax arrears come before saving for a holiday.

BatGirlPants

Thanks, that's what I thought - the grocery allowance is higher than we spend and I was thinking about using that to put away for xmas etc. The debt is a loan and a credit card. £20 a month for a holiday sounds amazing. We have scraped a £60 off season caravan before. I don't want to live the high life I just want to stop getting further in debt in order to survive

HappyMJ

xSuziex wrote: »

Thanks, that's what I thought - the grocery allowance is higher than we spend and I was thinking about using that to put away for xmas etc. The debt is a loan and a credit card. £20 a month for a holiday sounds amazing. We have scraped a £60 off season caravan before. I don't want to live the high life I just want to stop getting further in debt in order to survive

Everyone needs a break away from home every now and again. No point just sitting at home watching TV (not Sky or Virgin) and getting yourself depressed.

I take plenty of day trips away and spend much more than £20/month on them so to justify I use the "Other Travel" to pay for the transport to/from the destination i.e coach/train/bus and taxi fares and take a bit from "Groceries" budget and spend it on food/drink whilst away....hey it's still groceries. Especially in a self catering caravan you're still going to the supermarket....and £20 a month could even get you 2 weeks away in a year if all you need to pay out for out of the holiday budget is just the caravan rental cost.

andyfromotley

i am not suggesting that you spend nothing on presents but there are many imaginative ways to reduce spend and increase the meaning of presents.

Home made individual crafty pressies. A charity gift. A hand written letter.(sound rubbish - best present ever!) £10 max. Books. personal photos in a frame.

holidays, i used the SUN £9.99 Hols for quite a few years.