www.iva.co.uk

Hello all again

I am 8 months into my IVa and am just about getting used to the budget - didnt help with christmas, but am nearly there.

I was wondering if it is ok to have a savings account to put the money allocated for car servicing, dental & opticians, dog injections etc so that the money is there when it is needed and I am not trying to find the money in the month it is due.

Thanks for any advice and all the help you have all provided in the past.



Jo

Hi Jo. Yes a savings account is a good idea and many IP's will encourage this -- it is, after all, good financial sense.

Good question. Just included one on my shiny new natwest account. Even mentioned IVA to them and they didnt seem to care. Got a seperate card for it so all my contingency savings can go there and all my allowences so I know what I have each month. The main account could hold ny iva paymentd and other direct debits.

Saving small amounts every month is something that we actively encourage, it is a good way to manage your budget and when you need car tax, an MOT or vets bills the money will be available for you.