Iva living budgets

Get expert opinion. This is the place for new questions to be posted.
7 posts Page 1 of 1
Vicstar1928
Posts: 3
by Vicstar1928 » Sun Apr 08, 2018 9:34 pm
Hi

Can I ask what are the guidelines that iva companies work off for living expenses such as food shopping, emergency savings etc or is this done out of things you save from allowance
Can I ask what your budget is for food shopping a week xx :roll:
User avatar
luluj
Forum Expert
Posts: 10273
Contact
by luluj » Mon Apr 09, 2018 1:47 am
Iva allowances are only a guide - your iva expenditure should be based on your actual spend - everyonr is different.

Food wise - I had an allowance for 2 adults that equated to about £50/wk but that was some years ago now.

I only saved into an emergency pot when I was able to make savings on different lines of expenditure - like clothing allowance; optician / dental / prescription costs etc
User avatar
Foggy
Forum Expert
Posts: 27313
Contact
by Foggy » Mon Apr 09, 2018 6:59 am
Food shopping per Month guideline figures are £170 (£222 max) for a single adult. £287 (£354 max) for a couple and £71 (£86 Max) for each child.
User avatar
kallis3
Forum Expert
Posts: 73726
Contact
by kallis3 » Mon Apr 09, 2018 8:01 am
Put down what you spend and, if necessary, your IP will adjust it. Buy cheaper items and look out for the reductions. Most people on here recommend Aldi and Lidl.
User avatar
ketton79
Posts: 54
by ketton79 » Mon Jul 16, 2018 2:45 pm
Foggy wrote:
Food shopping per week guideline figures are £170 (£222 max) for a single adult. £287 (£354 max) for a couple and £71 (£86 Max) for each child.


Surely this is per month isn't it?
User avatar
Foggy
Forum Expert
Posts: 27313
Contact
by Foggy » Mon Jul 16, 2018 2:57 pm
ketton79 wrote:
Foggy wrote:
Food shopping per week guideline figures are £170 (£222 max) for a single adult. £287 (£354 max) for a couple and £71 (£86 Max) for each child.


Surely this is per month isn't it?


Sorry -- yes --- per month ! :oops:
mumof3
Posts: 48
by mumof3 » Mon Jul 16, 2018 3:54 pm
We were allowed an allowance of £600 a month for groceries and household products. We are a family of 5.
Emergency fund, we save up our allowances from things such as dental, prescriptions, hair cuts, car maintenance if we do not need to use them that month. It is then useful when needed such as my £200 car repair bill recently.
7 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 27 guests