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ClearHead
Starting Member
16 Posts |
 Posted - 08 April 2009 : 13:32:53
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Does anyone manage to save a little money each month now or not? I do and feel so much better off! I think the reason I manage to save a little is that I now look at how much everything costs and really question myself as to if I need it or not! BR is the best thing I could have done - it’s given me a kick up the *** and made me into such a better person!
1 IPA payment down 35 to go! |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 08 April 2009 : 13:53:08
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Of course, the thing about IPA's is that the OR can only take a percentage of any disposable income that one may have (usually between 50 & 60%). So therefore a debtor is likely to have some money left over at the end of the month.
John Blackadder
***Company name deleted yet again*** |
Edited by - Skippy on 08 April 2009 14:06:19 |
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Jane.l
Average Member
511 Posts |
Posted - 08 April 2009 : 13:54:38
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| We are managing to save a bit now, only because we have a council house now and the rent is so much cheaper, but it is hard with 3 teenagers to save money! My son eats for England and now he is off college for Easter, he spends all his day with his head in the fridge or the kitchen cupboards looking for food ! arrrgh. They always need something, be it new trainers, new clothes, haircuts, etc. |
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John
New Member
United Kingdom
73 Posts |
Posted - 08 April 2009 : 13:54:42
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Hi
it's so refreshing to read that your bankruptcy has had such a positive effect on you and great that you have shared your view with the forum as it will give others inspiration.
The "better person" was always there,you were just bogged down with the worry and stress of it all.
John White
England Jackman & Spacey |
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ClearHead
Starting Member
16 Posts |
Posted - 08 April 2009 : 13:57:17
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Jane - I don't have those worries yet but i am excited that i can now begin my life and start a family etc!
John - it is such a good feeling and i do want to share it with other people and hope it helps as i know how low it can make you feel!
1 IPA payment down 35 to go! |
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John
New Member
United Kingdom
73 Posts |
Posted - 08 April 2009 : 13:59:05
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Hi Jane
I know where you are coming from there, I have an 18 year old son, 6ft 4ins ; 16st very fit and very strong, I really do not know where he puts it all!!! I'm sure he's in the England team alongside your son. LOL!
I also have a very active 8 year old daughter and she is the team's mascot I think!!!
John White
England Jackman & Spacey |
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trish37
Junior Member
170 Posts |
Posted - 08 April 2009 : 14:58:16
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Hi Jane,
I managed to open a Yorkshire BS Internet Saver Account after BR, it was opened straight away online and I now have a link card and pin number after 4 days. Hope this helps as I feel the same as you I am much more careful now with money and can start saving for first time in years:)
Good Luck,
Trish
Trish
BR 30/03/2009 |
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Tikka
Junior Member
210 Posts |
Posted - 08 April 2009 : 15:18:04
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Hiya
I have been BR for almost a yr now (discharge end of May!!) & I can save money too, find it a little strange almost like I shouldnt be able to really..
I was wondering also where I could save some money, at the moment I give it to my BF to look after! Was just a bit worried if the OR could see savigns they would question it!
Charlotte |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 08 April 2009 : 15:21:28
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Hi Tikka
You can open an Abbey Internet Savings Account... do this online. You will get a cashcard for this and it can only be used to transfer money across from other accounts via the internet.
The OR won't be interested in money that you have saved. As long as your IPA (if you have one) is being paid then its fine. I save whats left of my allowance and sometimes my clothing allowance and put it in my Abbey account. It soon adds up and you get interest!
Maizie |
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Tikka
Junior Member
210 Posts |
Posted - 08 April 2009 : 15:25:39
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Thanks Maize
Yes I do have an IPA & that is paid just fine, would just be nice to tuck the spare money away somewhere for rainy days & holidays!!
Thank you, will investigate the abbey! |
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ClearHead
Starting Member
16 Posts |
Posted - 08 April 2009 : 15:38:20
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ooh nice to hear people have been able to open savings a/c's! My b/f is looking after mine at the moment x
1 IPA payment down 35 to go! |
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james600
Starting Member
8 Posts |
Posted - 08 April 2009 : 18:17:34
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I'm a bit confused so maybe somebody can clarify. While undischarged, am I permitted to open a savings account? I just spoke with the Co-op, with whom I have a Cashminder account and was told that they could not open a savings account for me because only one account is permitted by the OR, while bankrupt. I would like to have a separate account for standing orders, direct debits and other bills, if possible, while maintaining another account to try to build up savings and an emergency fund.
All advice would be appreciated. Many thanks, as always. |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 08 April 2009 : 19:14:32
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Yes you can open a savings account whilst undischarged, Yorkshire BS, and Abbey are two examples.
You must have got someone illinformed at the COOP
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
Life's too short!!! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 08 April 2009 : 19:21:26
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Co-op don't like opening savings accounts for BR apparantly. Skippy13 tried to open one and was refused.
I don't think Yorkshire Bank are BR friendly anymore either.
The glimmer gets brighter all the time
Jan
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 08 April 2009 : 19:26:41
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when i said illinformed i meant that the OR says you can only have one acount,
Many people have more than one account for exactly the reason of putting money to one side out of reach.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
Life's too short!!! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 08 April 2009 : 20:26:55
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Jan is right, the Co-op wouldn't open a savings account for me whilst I was bankrupt, and even after I was discharged they said no!
I had 2 accounts when I was BR, one for bills and one for petrol/spending money etc and it didn't cause me any problems.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
22 IPA payments made, 14 to go - on the home straight! |
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Topic |
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Saving
