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jelojo
New Member
United Kingdom
71 Posts |
 Posted - 07 May 2009 : 20:19:21
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Hi again
Just wondering what will happen if my expenditure shows more than my outgoings??
I have listed things like clothes, holidays etc... but to be honest ive had to cut back on all of that as my income is less than my outgoings if i was to actually have a life!! What will OR possibly say? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 07 May 2009 : 20:52:50
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Can you post your I&E so we can take a look? You outgoings shouldn't be more than you income after declaring BR and you will need to remove the holidays and cut back on other things.
If you income improves in the future then you can do another I&E for the OR and put more for clothes and add holidays, etc. |
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jelojo
New Member
United Kingdom
71 Posts |
Posted - 07 May 2009 : 21:04:35
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Rent £470
Housekeeping £300
Heating (elec + gas)£78
Water £30
Telephone £45
Travelling to and from work and essential journeys £250 (to and from work is 48 mile round trip + £2.40 per day tunnel fees + driving for work)
Clothing £50
Maintenance and fine £0
Council tax £96
Other essential payments e.g car tax, insurance £150
virgin £30 - TV/land line/Internet
Cats insurance £17
Bank charge £8 (includes car breakdown cover and mobile insurance)
TV Licence £28
Prescriptions £15
Hairdressers/beauty £20
dentist £10
=1597
Income =1,480.00 (this includes mileage)
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jelojo
New Member
United Kingdom
71 Posts |
Posted - 07 May 2009 : 21:05:40
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| If i take clothing off, hair, dentist that saves £80 which brings expenditure down to £1517 |
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Indigolock
Starting Member
14 Posts |
Posted - 08 May 2009 : 12:06:31
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Just looking at your list and I am by NO means an expert, I was advised that holiday funds would probably not be a luxury that could be included. Household shopping etc depending on your circumstances could be as little as £250 allowance. Also your TV licence sounds expensive? Do you pay that monthly? I only pay £12 over 12 months (TV licence is £144 currently?). If you made those changes you could get it to balance (but you are right, you'd wave goodbye to a life :( )
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 08 May 2009 : 12:53:33
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You haven't said how many people this is for i.e. do you have kids/partner but:
Housekeeping £300. It's normally about £200 for one person but if there are more of you then this should be ok.
TV Licence £28 - This looks like it is for the quarter rather than a month
Hairdressers/beauty £20 - £10 per month per adult is the norm
virgin £30 - TV/land line/Internet - You may need to separate these as Internet isn't normally allowed unless you need it for work/education purposes. Additional TV channels aren't allowed.
Other essential payments e.g car tax, insurance £150 - what are the other payments? Car tax and insurance shouldn't cost £150 per month.
If after the above changes you still spend more than you earn you will need to reduce housekeeping and clothes as the bills/travel need to be paid. |
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jelojo
New Member
United Kingdom
71 Posts |
Posted - 08 May 2009 : 18:05:43
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| sorry this is for 2 adults no children, as my partner is unable to contribute to the bills at present. the car charges are for the normal charges such as maintenance tax mot servicing and insurance. |
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expenditure more than income
