I think I’m getting this IVA lark. I know it’s not rocket science, the payment to the IP goes out in one lump sum and (hopefully) ends up distributed and accounted for in the IVA pot. The rest is for outgoings such as bills, but aaaah, this is where the sticky point is, the expenditure. The idea of budgeting, yes, the count our pennies dilemma. It should be easy, but it isn’t quite that simple.
Why? You ask. Well…for once in our lives we are in the black, no overdraft shouting us us like a big, red angry face and slapping us at the same time, once our wages went in. The thought processes now are, wow we have some money, to spend! No, not in the frivoulous fashion but the, right, what necessities are needed for the oncoming week(s). So, consistently working out our food shopping, sitting down and doing a list, and not just going round the shops and filling the trolley. I think now it is constantly working out in my head every time I go out, what do I need to buy, do I need it, or things that need to be paid into etc, etc. It’s all about the paying your way, and being very strict with yourself about how you balance your finances.
It’s a tough learning curve. I’ve only been in the IVA for a few months, and it is at times quite difficult, you have to learn very quickly to be almost obsessed with how you filter your finances; outgoings and what you have to live with for the following month. I am not one to dwell on what has happened with our finances in the past, it’s done, so I’m dealing with it now the best I can. I won’t also think about how much time we are to be in the IVA for, if I did that it would leave me deflated, knowing I have x amount of time in which to deal with what I’ve been dealing with so far in, and obviously, no doubt, be times along the way when we will have to pay for emergencies (so savings do have to prioritise somewhere in the pot, but again, that’s easier said than done). So, for me, I deal with the IVA one month at a time, that is what keeps me going, for now.
To be honest, none of us knows what holds for our future, no one can predict what can occur in months to come, but for now, we do what we can to keep the status quo and make sure we keep on an even path to where we are heading…a (hopefully) debt free future.