Budget Help

jimbo2010

Hi,

I am creating my budget for stepchange and have some questions or any advice. I have a partner and two children, I am confused about how much i should put down for things like clothes etc and is there a set amount you have to put down. I am new to this so very confused at the moment

luvchocolate

You put down what you spend. 
School uniform etc 
It's a personal expenditure. 

Czeskyy

Hello there, 
Im in similar situation to You , however already applied and approved bankrupt science January.

I know budget can be very confusing as they ask u how much u spent but not taking in consideration that existing debts could force u in spending bare minimum or even less relaying on freebies.

I would rather ask Yourself what is comfortable budget for Your family based on total income.

For example my family budget ( two adults two kids ) I did stated on 140 pounds per week and 50-60 pounds monthly for clothes etc but this is far from living comfortable.

If u did contact step change they should assist You on Your budget and give u overall guidance what is allowed what is on low side and where u spent to much if that's the case.

Please search internet as well as i remember i did found average figures of food spending per family etc it can help to estimate your budget.

Best of luck. 

sourcrates

jimbo2010 said:

Hi,

I am creating my budget for stepchange and have some questions or any advice. I have a partner and two children, I am confused about how much i should put down for things like clothes etc and is there a set amount you have to put down. I am new to this so very confused at the moment

What debt solution are you budgeting for, as you have posted on the Bankruptcy boards.

If it is Bankruptcy, then there are fixed allowance's, although the levels are not public knowledge, if you go over them, you may be questioned as to why.

On the other hand if its for DMP purposes, then be generous to yourself, lots of arrangement's tend to fail due to budgeting errors, so better to overbudget, than under.

kevker23

If you're applying for BR, just had my IPA interview on Thursday. I was told the grocery budget for a single person is £180 per month, which takes into account recent price rises (in fairness, he agreed that unless you live on pasta and cereal it can be difficult to fit in that budget currently). However, there is an allowance for food at work (which due to my job I often have to buy on the day), so he helped me adjust the figures to get some extra breathing room. Surprisingly many items weren't  even questioned, although I felt they were quite high. Mobile phone £80 ( although end of contract in August), sky tv/broadband/phone was also £85 and not questioned. He also helped me adjust so that I can get physio appts in, essential for me as a long term back problem and this keeps me working.

My advice would be to put what you think would be a fair figure in your circumstance, and list every expense you have. At the worst they will just say no, or they may adjust it down a little.

Riverstone58

kevker23 said:

 I was told the grocery budget for a single person is £180 per month, which takes into account recent price rises (in fairness, he agreed that unless you live on pasta and cereal it can be difficult to fit in that budget currently). 

Are you saying that during your IPA interview you were specifically told that this figure is the official maximum allowance?

I have read far higher figures put forward on here without any apparent issues.

Riverstone58

Are you saying that during your IPA interview you were specifically told that this figure is the official maximum allowance?

I have read far higher figures put forward on here without any apparent issues.

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Riverstone58

Forgot to add for a single person.

kevker23

Riverstone58 said:

Are you saying that during your IPA interview you were specifically told that this figure is the official maximum allowance?

I have read far higher figures put forward on here without any apparent issues.

Report

I think the way he worded it was the guidance for a single person was that figure. From the way it was conducted I think they have some flexibility it your justification is reasonable