Feels like im going under!

Makingabobor2

@kimwp the book sounds interesting, might look it up. Being on a budget really does make you look at life in a different way....eating a packed lunch on a park bench suddenly seems so much more appealing than going out for a meal. I think covid/lockdown made me re think life even more

elsien

Makingabobor2 said:

@kimwp the book sounds interesting, might look it up. Being on a budget really does make you look at life in a different way....eating a packed lunch on a park bench suddenly seems so much more appealing than going out for a meal. I think covid/lockdown made me re think life even more

Only when the sun is out! Not when it’s cold, murky and grey, not for me anyway. 

NiteEyez1980

Hi guys 

When I do the dmp do I include both income (wife earns £500 or under) and include her debt (2 store cards) as I don't pay that as only mort in joint names, all the loans and cc are in my name only? 

Makingabobor2

elsien said:

Makingabobor2 said:

@kimwp the book sounds interesting, might look it up. Being on a budget really does make you look at life in a different way....eating a packed lunch on a park bench suddenly seems so much more appealing than going out for a meal. I think covid/lockdown made me re think life even more

Only when the sun is out! Not when it’s cold, murky and grey, not for me anyway. 

We sit in the car if its cold....lol

kimwp

I did a bit more digging on the internet and found an advised allowable expenditure list on the website of a debt advice company - I've copied it out apart from the bills/mortgage/house insurance bit which would all be actual costs, with the notes that I think are helpful. Hopefully fellow forumites will say if any of this wouldn't be ok/advisable to use. I'd compare this list to the one you have and increase any numbers you have up to the limits, and shuffle some numbers around eg if some petrol cost is taking the kids to school, allocate some of it to that column.

In terms of your earlier question, I think either you completely separate your finances (or treat them as separate) and put them all together - it's up to you, but probably simpler to put them together.

HOUSEKEEPING -  includes food, toiletries & cleaning

Single Person c.£210 / mth

Couple c.£335 / mth

Each dependent Child c.£80 / mth

HOME REPAIRS & SERVICING

Per household c.£65 / mth

MACHINE RENTAL £95 / mth (TV or washing machine)

CLOTHING & FOOTWEAR

Single Person c.£30 / mth

Couple c.£50 / mth

Each dependent Child c.£18 / mth

PERSONAL PENSION £ actual cost / mth - if this comes out of the money that you receive in your bank account

DENTAL & OPTICAL

Single Person c.£12 / mth

Couple c.£24 / mth

Each dependent Child £0 / mth (free on NHS)

MEDICAL & PRESCRIPTIONS

Single Person £ actual cost / mth

Couple £ actual cost / mth

Each dependent Child £0 / mth (free on NHS)

SPORTS, HOBBIES & ENTERTAINMENT

Single Person c.£20 / mth

Couple c.£25 / mth

Each dependent Child c.£10 / mth

MEALS AT WORK / SCHOOL

Single Person c.£33 / mth

Couple c.£66 / mth

Each dependent Child c.£45 / mth

HAIRDRESSING

Single Person c.£10 / mth

Couple c.£20 / mth

Each dependent Child c.£5 / mth

PETS c.£30 / mt

CHILD MAINTENANCE £ actual cost / mth

CHILD CARE / NURSERY £ actual cost / mth

SCHOOL TRAVEL £ actual cost / mth

SCHOOL TRIPS £5 / mth

CHILDS POCKET MONEY £11 / mth

CAR HIRE PURCHASE £ actual cost / mth

CAR INSURANCE £ actual cost / mth

CAR ROAD TAX £22 / mth

CAR MAINTENANCE up to £30 / mth - Including spares and servicing. Any greater expenditure will have to be justified.

PETROL

Per vehicle c.£195 / mth - if you spend more than this budget per month on petrol per car, this may be acceptable but the additional expenditure will have to be justified.

PUBLIC TRANSPORT £ actual cost / mth - School travel costs are included in an earlier section.

EMERGENCIES & SUNDRIES

Single Person c.£20 / mth

Couple c.£25 / mth

Each dependent Child c.£10 / mth

DRY CLEANING £30 / mth

NEWSPAPERS/MAGS £20 / mth

TOBACCO £ actual cost / mth

NiteEyez1980

Hi guys 

Right OK. I think I will have everything swapped over before December. 

Only thing I'm struggling with is dvla and ironically my council tax details. 

Thisll mean that no unsecured debt gets paid in December.

I ma literally writing every single thing out for my dnp. 

Very daunting as the completed version only shows about £200 amongst 8 creditors 8( which doesn't look very much at all. 

NiteEyez1980

Should also add that my additional worry is that as we were in the situation where we couldn't cancel everything due to the postal strike and not getting my new account on time i still have had to pay alot of. The cards and loan. That's put me in a position where the last 2 (siansburys or natwest) I'm going to have to use before I non pay in December to get thru the month which feels disingenuous on my behalf. 

kimwp

NiteEyez1980 said:

Should also add that my additional worry is that as we were in the situation where we couldn't cancel everything due to the postal strike and not getting my new account on time i still have had to pay alot of. The cards and loan. That's put me in a position where the last 2 (siansburys or natwest) I'm going to have to use before I non pay in December to get thru the month which feels disingenuous on my behalf. 

I'm a bit confused because you previously said that you'd cancelled the dd's for everything except NatWest?

Regardless-

1. Check that it's not a condition of your mortgage that you have a current account with NatWest.
2. Consider whether you really do have £200 to pay your creditors on a DMP if these payments have left you needing to use credit.
3. If you need to use them to get out of a hole, then you need to - you can't change the past. And they are no worse off than if you had cancelled last month.

NiteEyez1980

kimwp said:

NiteEyez1980 said:

Should also add that my additional worry is that as we were in the situation where we couldn't cancel everything due to the postal strike and not getting my new account on time i still have had to pay alot of. The cards and loan. That's put me in a position where the last 2 (siansburys or natwest) I'm going to have to use before I non pay in December to get thru the month which feels disingenuous on my behalf. 

I'm a bit confused because you previously said that you'd cancelled the dd's for everything except NatWest?

Regardless-

1. Check that it's not a condition of your mortgage that you have a current account with NatWest.
2. Consider whether you really do have £200 to pay your creditors on a DMP if these payments have left you needing to use credit.
3. If you need to use them to get out of a hole, then you need to - you can't change the past. And they are no worse off than if you had cancelled last month.

Hi ya

The natwest is a loan, overdraft and credit card sum total of £400. Sainsburys I couldn't cancel in time and was 180. 

Sainsburys is now cancelled but has been paid if you know what I mean whereas:

Virgin, tesco, MBna, hmbc, shawbrook have all been cancelled and no payments made it over.

So from a status perspective nationwide has been setup. Nationwide mortgage has been transferred to this account as has my life insurance.

Second charge mortgage have been contacted to transfer and I'm in the process of doing the utilities, council tax etc which is why I haven't severed ties with them yet incase there's a problem

Wow, some of those expenses are going to be off. 

I'm doing 500miles a week so those allowances won't work. 4 new tyres a year will be £320. Service will be 220 (440 for both cars), Mots about £80 each plus distance induxed wear (not had an mot under £300) so the car costs alone each year are about £1400 a month.

Also diesel/petrol is easily £400 a month and it's going up.

Saying that im doing 22k a year minnimum in mileage

RAS

Given that the official IVA, DRO and bankruptcy allowances are not public, but I've seen more generous suggestions in potential SOAs here, I'd be keen to know when the suggested limits were published, and whether the debt advice company flogs IVAs? DMPs are more generous.

It'll be worth waiting for comments from @fatbelly.