www.iva.co.uk

How do you keep track of the amount you're spending each month?

We're not in an IVA yet but (hopefully) on our way into one.

I have my budgets i.e. monthly limits I can spend on household, car, etc but I'm not really sure how to keep track.

I've started a spreadsheet with a tab for each type of spend and we're keeping our receipts but I'm not sure how realistic it'll be to keep it updated. I have a baby due in 6 weeks and need to get some sort of system in place sooner rather than later.

I'd also thought about withdrawing the money at the beginning of each month and keeping the cash in separate pots but I'm a little worried about the security implications.

Thanks,

Laura

Personally I rely on online banking as I know exacty what comes out and when, however a spread sheet is a good idea.

Perhaps get your partner to keep these things updated once the little one arrives.

I have a sheet of A4 with everything we are due to spend listed,and as we spend money on an area ie groceries I reduce the total on the sheet by the amount spent. I always maintain a sort of slush fund because sometimes if the offers are good at petsmart we may get 2 months worth of dog food for the price of a month and a half.

Another idea, if you shop at Asda or Tesco, is to do a virtual shop so you know exactly what your shopping bill will be for the week.

Do a list and stick to it.

I set up direct debits so all bills etc came out of accounts as soon as pay went in. I also have a savings account so money for car etc goes in there, then when we need tyres etc, the money is there.

Also save all the loose change in a jar, you'll be surprised how this adds up and you can get a treat for the little ones....or yourself [:)]

I work on the guidelines of my last questionaire from Lloyds TSB prior to our IVA.
q1 How much do you earn?
q2 Send it.



I'll get my coat.

Love it OT!

I use aspreadsheet find it invaluable personally. X

I've created a sheet for us to record all of our spending that's to be filled in each day, we're keeping receipts too. The first column is the days of the month (1-30) and the next few columns are our key spending areas i.e. housekeeping, transport. At the top of each column I've got the max we can spend on that category in the month. So far, each evening we've reviewed what's been spent and can see whether we're on track. It means that we have to be clear with each other about any spends and I think as a result we're going think twice before splashing the cash.

It'll be interesting to see if we can keep it up for the entire month. We really need to know that we can stick to the budget in order to live.

[:D]you'll be surprised how budget savvy you'll get. You'll notice the price on everything and question if you really need it.....finding a bargain will give you a buzz.

I re-dicovered the library as I read a lot and even begrudged buying books from a charity shop, as I could use the money elsewhere.....how tight is that [:I]

I went to the library last week, i was looking for a book on camouflage techniques.
I couldn't find it.

Lol OT!

I agree with knowing the price of everything they don't know at work I'm in an IVA but I can tell them where there weekly bargains are new nickname 'The Oracle'. Ask Lesley they always say if someone is looking for something.

I have to admit I actually enjoy being in budget. I went to Primark at the weekend and brought my top (already had the rest of the outfit) £6.00..bargain. I can remember once upon a time £60.00 would have been cheap, how times change and how we've all changed I'm sure but I for one do enjoy it.

I must admit I only like new books from the library as I hate it when they are a bit yellow and have marks on them!

Lesley, you're doing better than me finding a bargain in Primark - the only decent thing I've ever bought in there was socks!

The Manchester one is huge Skippy and although I'm not a fan, daughter goes in there and gets lots for her money so I was just doodling around and come across this top I thought was ok and surprisingly when I got home I like it and it fitted ok.