working out an income and expenditure budget

[jostel]

I would like to know how much i should put down for housekeeping ie food cleaning products toiletries etc just working out an income and expenditure budget for my self and my wife.

[Lisa2009]

You need to say it as it is. Put down everything you spend from food to toiletries. If your creditors think its too high, they may try to knock it down anyway.

[aguise]

Hi and welcome to the forum
I agree with Mrs skint put it as it is, everyones needs are different, if something is higher than the norm for a reason, just note the reason next to it. eg someone who is diabetic or coeliac may need more as some of the foods are much more expensive. Dont for get the little things like prescriptions and dental either.

Ang

[flowerpot]

I found it useful to go onto the ccs website and go through their online assesment, which looks at your debt and suggests solutions for your debt problems.

OK, so I know you're hoping to go for an IVA, it could only suggest a DPM for me, BUT gave some idea of allowable expense items and and also suggested amounts according to your family etc.

I know alot of other members will say put it down as it is, which is what I tried in the beginning, but I kep getting told I was being too stringent and that my budgeting was unrealistic or sustainable (perhaps where I had been going wrong for a while??), so dont underestimate it either.

Hope this helps
flowerpot

[cfnc]

I agree with Flowerpot, use the guidence from the cccs, but also using your own needs.

My housekeeping and petrol was increased by our IP as we were told it was too low, and in fact it is still lower than the guidelines.

If you have any special needs ie diet or excessive travel just back it up with a note.

Kirsty

[elizabethr]

I looked around on this site a lot and together with what I felt I was spending put together an I & E. I am with Melanies team now preparing for IVA and first thing they did was Tina went through allowances with me and pointed out things I had't thought about. I sometimes get a bit worried because looking at the I & E we have money for things we never had before but we have gone through it properly and it is more or less realistic. One question though and its probably for those that have already been through annual review. Some allowances have been kept tight - at review and my income has gone up (albeit slightly) will I be able to put some allowances back up again - I am probably refering to things you can't always qualify with written evidence - say pets.

[goulda]

elizabethr
what were some of the things you had not thought about

[elizabethr]

allowed for dry cleaning, car maintenance, house maintenance, contingency, elder daughter is at uni but she can't work part time as she has depression so allowed for her in clothes and housekeeping, pets separate to housekeeping, magazines, church donation, extra for prescriptions as both my husband and I have medical conditions, allowed for HSA. I am working with Melanie's team