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| jwmc77 |
Posted - 28 October 2008 : 01:58:13
hi all,
ok, clueless father of 3 young girls (8,5, 5 months)and a wife who is out of work due to the kids, i need some help with my expenses....not really sure what else to put, ill list what ive got, and any guidance from anyone would be great.
rent £650
council tax £65
water £40
gas £70
electric £50
life ins 20
house ins £15
petrol £80
car tax £10
car ins £25
food shopping £400
......and how much do i set aside for houskeeping?? this amounts to £1425 a month, i take home around £1500 a month and all my wife receives is fam allowance, anything else i should be putting down?? really want to get as much income as i can accounted for(not that there's much left anyway) my car also is only worth £2600 at the very most....this should be safe shouldnt it?? and what about this nt code, am i likely to get one?
MAC |
| 5 L A T E S T R E P L I E S (Newest First) |
| movin on |
Posted - 28 October 2008 : 08:46:10
Hi Mac
First of all can you not get Child Tax Credits also ?
Dont worry about the minus figure, i think most of us end up with one!
Also as John advised please increase your housekeeping(food) to £550. You have probably been struggling on alot less, but to feed a family of 5 the OR will realise this is more realistic.
Good luck, and dont suffer in silence, we are all here for each other - i think this site has kept me sane at my lowest time
The weights are coming off my shoulders very slowly, but making such a big diference !! |
| RHB |
Posted - 28 October 2008 : 08:39:48
You should be able to claim working tax credit in that wage with 3 little ones surely? |
| Nat |
Posted - 28 October 2008 : 07:59:29
Hi Mac
On my I&E I actually ended up with a minus figure but I use my maintenance and CB to cover that gap. The OR should be fine if you have a minus but you need to make sure that you can still afford to live!!
When you go to NT code you have to pay the tax that you would normally pay to the OR. A collection agency has been passed my details and then i will pay them the tax money who will pass it to the OR. You wil only do this until the end of the financial year that is until April 09. Just be careful with this as a lot of people have just had their tax codes changed. THis has happened to me and i will go through this with the collection agency when they contact me.
Do you claim tax credits? Looking at what you put above I think you should apply if you haven't already as I reckon you would qualify for something.
Just spotted something else, you can put down for costs towards maintenance of car and MOT as well and I didn't notice anything for telephone either.
Hope that helps a little
Nat |
| jwmc77 |
Posted - 28 October 2008 : 04:32:51
so the or wont mind if we have a minus figure when we hand in our i+e? is this where the nt code comes in? thanx for the help by the way...it wasw needed!!
MAC |
| John |
Posted - 28 October 2008 : 02:37:23
Hi
for a family of 5 your food shopping (housekeeping) could easily be raised to £550 and you could also claim £150 for clothing; £50 for landline phone; £12 for TV licence; £25 for dry cleaning; £20 for vehicle servicing; £30 for hairdressing and £80 for a domestic break (uk holiday).
Also £10 - £15 if you are a member of the RAC/AA; £10 for pet food (if you have one); £14 for prescriptions.
If you want to keep the life insurance policy the OR may charge you £50 to do so.
Hope this helps.
Do not worry that this will leave you with a minus figure for disposable income. It will protect you if you should receive a salary increase during your bankruptcy.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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