Income and expenditure

MrsTinks

I did the Minimum Income Standard and we dont have enough as it is and the figures they give for a family of four are higher than mine..

I've had a look at their calculator and it takes little/no account of where you might be living from what I could tell. The grocery budget seems insanely generous: £360 for 2 adults and 1 primary school child per month (well, £91 per week).

Ultimately the important thing here is going to be if you want to pay these debts back or if you are potentially looking at an IVA or bankruptcy. Ultimately your situation on home ownership will impact your potential route here.

If you want to pay all this back (or need to) then stop looking at things like that Minimum Living Allowance... It's just ridiculous. Your SOA can be cut down severely and there are a load of luxuries you can get rid of.

If however you are looking to go BR etc then yes some of these numbers could be considered valid maybe.

Make sure your budget includes an emergency fund... last thing you want is to end up struggling because both a car and the boiler go pop in the same month... so put money aside every month and DON'T USE IT unless it's an emergency!

caprichos

yes all that is covered by Motability. I have now with the help of National Debtline come up with a fair budget so fingers crossed I can start to see the light at ghe end of the tunnel. Thank you again!!