Half way

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Post by Mrs_Brown » Thu Jun 04, 2020 11:18 am
I just realised I have just made payment no 30! I am half way, even though it only feels like 3 months ago that I started this journey. I hope the other half goes as quickly and without hitch.

Back when I started this path, I considered setting out 60 squares, one to fill in each time I made a payment. Had I done that this halfway marker would have been visibly obvious on the first of June.

My IVA journey began with a call to Stepchange in Sept 2016, which took the weight right off my shoulders. At the end of September I posted their forms in and my evidence, in November my meeting was held, and my first payment was January.

The best tip I can offer for money managing that I have learned so far is two accounts. One account has my wages paid in, then on payday I check every company I have a direct debit with in case their bill has varied for any reason, add them up and move the difference to my shopping / spending account. It makes knowing how much money you have to spend much easier, at a glance I can check the balance and see. Even when the IVA is over, this will be my new normal.


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Post by kallis3 » Thu Jun 04, 2020 11:35 am
Well done - won't be long until the end now!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.


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Post by Foggy » Thu Jun 04, 2020 12:08 pm
Time flies !!

I manage my accounts like this still - 7 years on. I also have all regular payments on an excel spreadsheet and I tick them off as they are paid, leaving me with a running total of what is still to go out ... not really needed any more, but a habit now !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014


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Post by Mrs_Brown » Thu Jun 04, 2020 3:58 pm
Before the IVA I used to have a spreadsheet, but all money went in and out of the one account so I constantly needed to see how much was due to go to know what was available. At the start of my IVA I went old school and kept a bit of paper on the fridge door with my outgoings and cross them all off as they go. Again, I think I will stick with this for my new more simplified approach.

I can't believe I didn't go for the second account sooner, I only started doing this around a year ago.


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Post by plasticdaft » Thu Jun 04, 2020 5:49 pm
I still write all the incomings and outgoings in an A4 book, to be fair I did it before my trust deed(scottish iva) but back then it was littered was lies of what was getting paid. Robbing peter to pay paul, paying xxx to credit card no6 so we could then use it for groceries or fuel.

30 months time you can look back and smile and be proud of what you have achieved!!

Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.


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Post by abbiesmum2003 » Thu Jun 04, 2020 10:57 pm
Wow half way already thats amazing! Well done!
We used to have a second account for mortgage and move money across from wages as that was the biggest priority. We have a natwest account and the app has a ‘spending’ category so at a glance can see where money is going (bills, motoring, groceries etc) it automatically files them! Its handy.
I still use pen and paper and lists though!!!
Keep it up it sounds like youve got some good habits instilled which bodes well for the future.
This next half will fly by!
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