i would like to have others experience in how they budget
i feel i am getting a bit excited about budgeting in a iva.
my idea is to draw up a spreadsheet so i can keep a running total of what my balance, income and outgoings are
i would have liked all money in at start of month and dd out at start and then i would know what was left but as wage goes in mid month and benifit like child ben and tax credit is 4 weekly the month cannot run 1-31st any other ideas how you budget would be greatly apprechated
I have a spreadsheet Tillytot and if reflects my bank account. I tend to check my account at least daily but I'm a little obsessive. I take out each week an allowance in cash and when it's gone it's gone! I tend to use cash and I'm more loathe to hand it over than with a card, but we're all different and other posters like to use a card and not have the temptation of cash. I am very strict and find it a bit obsessive at times,
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I'm the other way from Lesley and carrying cash makes me feel like I've got money to burn! So I always use my card. I'm going to set up a second account so I have one for bills and one for spending money...I'm hoping this will help me manage my money better x
I never do a spreadsheet - can never get my head round them! I just use online banking and a pen and paper! I prefer cash when shopping. One it's gone then that's it.
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. http://kallis3.blogs.iva.co.uk
I do online banking and check it every day and although I always have £100 in my purse I tend to pay with my debit card. The reason I keep £100 (in an envelope tucked away) is for emergencies because I always have the fear that maybe one day my debit card won't work and not having an alternative to use worries me. My husband does the same x
I check the bank every morning and make sure my spreadsheet matches.I draw cash for all things like shopping and petrol.A spreadsheet is the only way I can keep track as hubby gets paid every 2 weeks and I invoice at the end of the month then it can be 10 days before I get paid.
I take out cash every Sunday for the week, once gone it's gone. Also check online bank everyday and work out what we should have in the bank on paper the following Sunday. It helps keep everything on track
I don't check mine everyday. I do check on payday and again when most of the direct debits have gone out so I can work out what is left.
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. http://kallis3.blogs.iva.co.uk
we make shopping lists & work with cash,can't spend what we haven't got! we pick up reduced meat etc where possible & bought a slow cooker - fantastic, cheap, tasty tea's!
Nothing stays the same...everything changes..hang on in there!
I keep a spredsheat of all my spend and match this with the bank account.
Bank account can be out by a couple of days before card payments have been cleared. So work to the figures in my spredsheat which are more accurate as to the money I still have.
I use a spreadsheet but I also use debit card, however it's like cash, when it's gone it's gone and I keep track of the spending on a spreadsheet. I have my allowances for food, sometimes I've over, sometimes I'm under, but I rarely go over very far, maybe a couple of pound! I've found it's just discipline really, I look at it and alter it every day, it's just as easy as checking my bank account - which I also do regularly I may add! I also don't get paid monthly I'm self employed so cheques come in at random, otherwise OH's disability living allowance never just comes in at the beginning of the month!
"It is never too late to be what you might have been"
Fiona
I have become micro managing. My husband has left as I was too controllong and my son gets quite annoyed sometimes or plays games others. I make a list on line at a certain website and check prices at the 4 major supermarkets. I then make sure it is beneath the amount for that week and we have the minimum of what we need. I then shop but include the budget shops in my area only with the original money. I can only buy whats on the list and finish at the supermarket it takes longer about an hour a week to shop that way but the benfit is as follows. Any money we have over goes in a silver tin in the living room. That can be used for those treats that are needed occasionally such as that chocolate bar or that packet of biscuits to reward a good day (that do happen occaionally even in an IVA). It has even paid over time for that trip to the cinema, as a teenager I think that is what my son needs the most but we cannot afford it. He is better at budgeting than me. My only sorrow is that he can see the the stupidity of running up a debt to go to Uni so has decided not to go. He will be the first in 3 generations of my family not to go which makes his decision even more amazing. Keep the sense of humour and remember at the end of the day all biscuits are crumbs but crumbs cost half the price of a whole biscuit.
