realistic expenses?

[sjw]

does anyone have an idea of realistic expenses for 2 adults and 2 children we have 55000 of debt paying over 1300 a month with income of 2400 mortgage of 1050 and council tax of 140 a month basicly pay bills with credit cards at mo. help please x

[aguise]

Hi Sjw
All expenses vary from one to another. Just put down what you need to live. Start with all your household bills etc gas,elec, water . Then what you realistically need for food, travel, clothing. Go through everything right down to insurances for pets and household stuff, breakdown cover for car, add some for mauintenance. If you want to post on here after what you have decided then everyone will comment if they think it is high or not allowed. Your company though will tell you if something is not allowed or is too low or too high. Make sure your budget covers what you need. If you go for an iva and accepT an expenditure too low then you will have problems managing.

Hopr this helps a little.
All the best

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[sjw]

thanks, rough breakdown
mortgage 1050
car insurance for 2 cars 50
council tax 145
food 600
clothes for 4 people 100
petrol 2 cars 220 may seem a lot but i use my car for work and husband travels approx 70 miles a day to work
water gas elec 110
total amount coming in 2450

do you think this is unreasonable?

ta x

[aguise]

The main thing is to put down what you use. Car insurance looks low for two cars and remember car tax and maintenace, gas water and elec look low to me also, but depends on your house size and insulatiuon etc, I would seperate them. Look at your bills and see how much they really are, remember winter bills are more.
The main thing is for it to be manageable for you to survive for five years and the odd household emergencys like machine breahdowns etc.
Difficult whaen you have to work it all out, but you will get it right just dont forget anything that you need.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/