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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
 Posted - 08 March 2010 : 16:08:03
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oh wow this is a weird topic.
Everytime I think about our IVA being concluded I get scared. I know it's a wonderful thing that we will finally be debt free for the forst time in our lives, but I just know the arguments will start as to how we will spend the money.
Savings are first and foremost... but I'm a sort of 'live for today' sort of girl. Having lost a child, I live for the moment and don't plan too far ahead in the future. You just don't know what's around the corner do you?
The sensible part of me, wants to save for the future wether it be pensions or savings. But I want to have some sort of life now. The whole of my working life, my wages have paid the bills/debts and in a few short months my wages will float (well the majority of it) and it scares me as to what to do with it.
I'm not really asking what to do or how to deal with it, I'm just venting I think. A work friend said, save half spend half and that actually sounds a really good bit of advice to me. Unfortunately there isn't just me to consider... hub has a say in this too.
I think I'm a bit of a wreck today, been thinking alot about things and am anxious to finish and have a life etc..lol
what are your plans once your IVA's/BR's are finsihed.... do any of you have a plan???
xxx |
IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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debtfree-wannabee
IVA Campaigner
3 month\s down 57 month\s to go.
United Kingdom
235 Posts |
Posted - 08 March 2010 : 16:25:54
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I think Balance is a good thing.
Suze Orman a famous financial advisor in US states you should save at least 8 months of your regular outgoings as an emergency fund before looking at big ticket items or splurging.
This sounds like good advice and what we will be aiming for in the future.
But you could easily get to that point (although it would take twice as long) and still be excited about having some to spend if you followed the 50/50 as you said. |
When I was younger I did what I knew - now I know better I do better!
Kath x |
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flow13
IVA Journeyman
48 month\s down 12 month\s to go.
United Kingdom
608 Posts |
Posted - 08 March 2010 : 16:45:43
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| I think that we will find it hard when we have finished our IVA, Although we cant wait, we also will have no idea what to do with the extra money. As you say - I think we will be scared to spend it. Just in case we find we havent finished the IVA, lol. xxx |
There is sunshine beyond the clouds - so I am told!!!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
Last Payment 16th July 2011! |
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Skippy
Moderator
United Kingdom
16267 Posts |
Posted - 08 March 2010 : 16:50:24
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I think I know how you feel Helen, I've always believed that life is too short not to enjoy yourself. As long as I can remember my salary has been paying my debts or an IVA or IPA, and as of 28th June this year it'll all be mine and it seems a scary thought. I'm going to sort out the bills and make sure I'm paying my share (which I think I am), and then I'm going try and save at least £100 a month (on top of what I'm supposed to be saving now!) in an ISA.
I've got to carry on paying my mum for my car and Dave for some things he's done in the house, but rather than increase my payments to them I want to save - it would be good to have some money behind me so I don't have to borrow off them again.
I do want to get myself a watch that I've seen as well - I've got to have something for myself!
I know something will probably happen and my plans will go wrong, but hey ho, I'm going to try!
You're nearly there Helen and I'm sure you'll be fine when it happens xxx |
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
View my blog at http://skippy13.blogs.iva.co.uk/
Last IPA payment made 28th June 2010 - it's finally over! |
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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
Posted - 08 March 2010 : 17:07:23
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Skip, you're 30 days behind me.... we should have a mega party!
I ordered some boots out of my friends catalogue.... because i was desperate... and the thought that I am now in debt and paying for something monthly makes me feel sick. it's not a lot of money either and considering the amount of debt we had.... I do believe I have been rehabilitated....lol
Travel is foremost on my mind... I want to do it before I get to the stage where I can't. ohhhhhhhhhhhhhhhhh...... it's all too scary, too much to do, too much to save for, too many plans, maybe I'm too ambitious. perhaps I ought to just let it happen and take each day as it comes.
xx
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IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
Posted - 08 March 2010 : 17:10:16
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Oh and Skippy, you do have to have something for yourself... it has to make it al lworthwhile.
My 'need' is a negative reader for the computer... no idea how much they cost.. but I want one..lol
xx |
IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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Skippy
Moderator
United Kingdom
16267 Posts |
Posted - 08 March 2010 : 19:12:05
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We've got to celebrate somehow Helen!
I know what you mean about panicking - like I said my mum helped me when I needed to change my car, and I feel awful owing her the money. |
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
View my blog at http://skippy13.blogs.iva.co.uk/
Last IPA payment made 28th June 2010 - it's finally over! |
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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
Posted - 08 March 2010 : 22:06:01
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yes we do have to celebrate, we have battled against all the odds and come out of the other side.
we have had struggles and heartache and problems and the unforeseen... yet we are stil lgoing strong and that in itself deserves something.
I'm going to buy a frame on the 28th May for my most fave photo... that will be my reminder to never ever ever get into this mess ever again.
then I'll start enjoying life me thinks. You get that watch Skip and everytime you look at it, it will remind you of how far you have come and what you have overcome.
xx |
IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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flumpy dog
IVA Artisan
19 month\s down 41 month\s to go.
2012 Posts |
Posted - 08 March 2010 : 22:08:53
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| wow h cant belive youre nearly there well done hun xx |
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kallis3
Moderator
27 month\s down 33 month\s to go.
United Kingdom
35545 Posts |
Posted - 08 March 2010 : 22:37:43
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I think you both have a sensible attitude to your post IVA/IPA money.
I know that we plan on going on holiday as soon as we've finished and we have to get a new suite as well.
We will try and save though. |
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
27 down, 33 to go.
Jan
xx
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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
Posted - 08 March 2010 : 22:43:12
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you need 2 suites Jan.... one for you and Dave and one for suzie and Lloyd...lol.
The holiday is No 1.... after that well who knows... save as much as poss so I can see some swirly angry amazing winds...lol.
xxx |
IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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kallis3
Moderator
27 month\s down 33 month\s to go.
United Kingdom
35545 Posts |
Posted - 08 March 2010 : 23:03:33
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Goes without saying! Probably need to buy a bed for them as well!
I too am looking foward to the swirly winds one day! |
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
27 down, 33 to go.
Jan
xx
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lesley_
Forum Expert
30 month\s down 30 month\s to go.
United Kingdom
8889 Posts |
Posted - 09 March 2010 : 07:45:33
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I do think it's a scary time and can totally see where you're coming from, someone has taken the reins of spending from us and guided us to the home straight and all of a sudden we take over and 'whoosh', there you go! When I think of it bearing in mind I'm only 26 months in I often think I'm rehabilitated in respect of spending and other times I think I need more help as I can go in a shop and think I want, I want, I want! obviously now I don't buy and have the willpower to walk away but if I had a plastic friend would I? Time will helpfully rehabilitate me further and then YES I will walk away x
I'm sure you and Skippy will both be fine and I hope you enjoy every minute of your debt freedom. xx |
http://thereisanend.blogs.iva.co.uk/
Downhill now 31/60.... |
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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
Posted - 09 March 2010 : 09:21:18
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Les, I'm the same!!!!
I don't know if I am still a bit of a shopoholic, I do get a kick out of a bargain but in the back of my mind I think as long as I'm spending cash then I'll never get into trouble again.
I may never be rich, but I certainly won't be in debt again. I also think I'll get a buzz from seeing ahealthy balance a tthe end of the month... It may spur me to save!
xx |
IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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kallis3
Moderator
27 month\s down 33 month\s to go.
United Kingdom
35545 Posts |
Posted - 09 March 2010 : 09:48:38
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| I love spending as well, but it's now always with cash and will continue to be so afterwards. I won't be applying for any credit cards once I've finished. No intention of getting into that mess again. |
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
27 down, 33 to go.
Jan
xx
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lesley_
Forum Expert
30 month\s down 30 month\s to go.
United Kingdom
8889 Posts |
Posted - 09 March 2010 : 16:16:34
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| I've no intention either and only hope that either through my own stupidity or circumstance it doesn't happen to me again. x |
http://thereisanend.blogs.iva.co.uk/
Downhill now 31/60.... |
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Wizzzard
IVA Artisan
26 month\s down 34 month\s to go.
United Kingdom
2176 Posts |
Posted - 09 March 2010 : 18:28:39
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| I've no plans for when I get to the end of my IVA ... I just hope I'm still around when I do, then maybe I can make a plan or two |
The best psychological health comes from admitting your faults and recognizing they're caused by someone else.
Wizzzard xxx |
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kallis3
Moderator
27 month\s down 33 month\s to go.
United Kingdom
35545 Posts |
Posted - 09 March 2010 : 23:19:13
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| I'm sure you will still be around Ray. |
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
27 down, 33 to go.
Jan
xx
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lesley_
Forum Expert
30 month\s down 30 month\s to go.
United Kingdom
8889 Posts |
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moretolife
IVA Artisan
United Kingdom
1629 Posts |
Posted - 10 March 2010 : 17:54:09
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When we were able to do a full and final at end of last year we thought about what we would do with the IVA money and having almost 700.00 "spare" every month is an interesting thing.....We have just written out the cheque to pay for the work for our new bathroom and what a fabby feeling it is knowing the money is in the bank and was literally just 2 months of IVA payment.!! We have also booked a 10 day trip to Portugal in June and its due to be paid for mid May and again that will be covered by this next months IVA payment.We havent gone mad or had wild shopping sprees...but it has been lovely to be able to buy a book or dvd or have lunch out together without the worry about whether we could afford it.We really want to use the "spare" cash wisely
I still shop around..choose to go to cinema on Orange Wednesday...eat out at Wetherspoons on their cheap meals ...still go to Asda for petrol as its 4p cheaper...still have the woman come to the house to cut my hair rather than go to salon..still think very carefully about
"do I need " something before buying...still draw the cash out of the bank for weekly expenditure..still use cash for most things...rather than debit card....so far we are still very much in IVA mode...and wouldnt think of applying for any credit and was so grateful both the cars got through their MOTs with very little expenditure considering they are both 10 years plus.!!But that will have to be addressed at some point soon when they start costing more to keep going than they are actually worth.
The main thing about being post IVA...or debt free...is the feeling of being in control ...of being free to choose...of holding my head up again...of knowing no shame or guilt and definetly the feeling of pleasure at having money in the bank and in my purse. |
IVA completed 11th Dec 2009 due to a Full and Final with the fantastic help of Michael Peoples and
Mc Cambridge Duffy
Visit my blog...Journey from Debt to Life Post IVA
http://moretolife.blogs.iva.co.uk |
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Helen
Forum Expert
IVA completed.
United Kingdom
6018 Posts |
Posted - 10 March 2010 : 18:42:30
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I had a really good think at work last night and I think once thise year is over... holiday, a bit of a splurge.. a pretty good christmas etc, then we should put away 2/3rds of our IVA money and keep the other third to help with everyday life.
The savings will go on more travel (lol) and decorating. this house needs a lot so in about another 5 years all the money should be ours..haha
xxx |
IVA Completed
H xx
please visit my blog at: http://ladyh.blogs.iva.co.uk
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scared
