www.iva.co.uk

Hi all,

Just looking to see what peoples opinions are on this.

I'll pulled together my budget, using the details on the "beatmydebt" website. And to be honest, it doesn't look too bad (two adults & two kids). I know there is not much room for 5 star holidays, but it seesm to allow a decent living.

What are peoples experiences on living on the budget?

Thanks!!

I find mine liveable with. The odd takeaway here and there, no designer clothes (Ebay, Asda and Tesco for that sort of stuff) and the ability to make a few savings sometimes.

Some people do struggle though if their I&E is not done properly in the first place, this is why you should make sure you don't forget to include everything.

Hi, I personally find the budget ok in comparison to what I was living on pre-IVA. I wouldn't say I live in luxury but there is enough to heat the house, put food on the table and allowances to cover most things. I try and save a little each week from my allowed budget and when I've accumulated enough hubby and I go out for a meal at a local pub, two for a tenner and a drink, it suits us and it keeps us going, out little treat. When putting together your I&E make sure you allow enough to live on of what you actually spend.

My budget is liveable also.

I'm able to have the odd treat and I've just started saving, it was hard to get used to at first, as I'd never budgeted for a thing in my life!

But now I find I get great satisfaction from it, knowing what little money that I have at the end of the month is mine, and I made it last!

Good luck!

I'm not one of life's natural budgeters (LOL) but I am better off in the iva than I was while I was juggling my debts. Plus i sleep better and am a lot calmer and happier (all worth their weight in gold).

BOL I totally agree about being better off in the IVA. x

I enjoy budgeting now, especially when I still have some pennies left in my purse after the weekly shop!

its been a 5 week month for me and im happy to say i have £8 left to last me til friday, pre IVA i would have had a massive overdraft and i handful of demanding letters and my phone on silent due to all the calls from debt collection companies

could,nt agree more with BOL,being content and able to sleep,is what counts.

I have adjusted to the "IVA budget" very well.. There is no doubt that the early days are one heck of a struggle but - once you adapt - it really is not so bad. Clothes, food, toiletries - all can be cut back more than you might think - and the cheap brands are often just as good as those big name items. The big supermarkets are a godsend if you keep your eyes open and are not too fussy!!!!

I am about to complete 4 years of my IVA - and have survived very well thus far on own-brand items and healthy stuff like jacket potatoes and fresh vegetables. Forget holidays for 5 years - I will appreciate my first in 2012 SO MUCH if I survive to the end!!! An IVA is manageable and the end of the stress is worth far more than any financial cutbacks required.

I fully agree with Optimist12 - difficult to start, but once it become routine. Difficultly is trying to put a "little money away for emergencies" as Sods Law dictates when you have no money everything seems to break down.

Postive thing is you will continue to stick to budget when you come out the other side of the IVA

Early days for me --- but I am getting quite anal about budgetting !!! As mentioned briefly elsewhere, this is the end of my first "proper" month and the first month's end in years when there has been money left over!

As for holidays -- I will make myself very unpopular here .... my in laws live in the south of France ... guess where I go for free !!!!!!

It just takes time to get used to it, but its a good learning curve to know that we can live without credit, my moto is if I need credit I cant afford it.

Foggy - i live in Scotland near Loch Lomond,by the Loch so apart from the occassional long weekend away , dont feel we really need a holiday

I find it incredibly difficult, in fact without the overtime I work, I do not think I could sustain it for a year never mind 6 years.

Obviously helps if you in position that your career is progressing as 50% of the wage increase you can keep.

I have had a £100 paycut since IVA was taken out and prices for everything has gone up