How Much Should You Have To Live?

Came across this site today browsing around. Thought it might be useful for those working out IE sheets to compare with what most people in the country think you should have to live on as a basic necessity.

I thought it good to have something other than what the government / official bodies tell us.

A Minimum Income Standard :: Homepage

[ben13]

Re: How Much Should You Have To Live?

Great link Caspar

[leclerc]

Re: How Much Should You Have To Live?

I'd suggest hardship forum and post by Never in Doubt with link to last year's CFS figures which have apparently increased by 3% which means calculator at the ready for current figures.

[Caspar]

Re: How Much Should You Have To Live?

Sorry? I found it by Googling "minimum income" for a website I'm setting up for a local charity some on here know I've started. Niddy using the link as well eh? It makes sense that a consumer site would have it. Figures clearly state 2010, but I still found it useful. 3% sounds a big increase given level of inflation over past year.

ps Can't find it assuming you're talking about his own site. Looked under hardship, but can't see it, not that it matters anyway.

[Caspar]

Re: How Much Should You Have To Live?

Right - I know what you're on about now. I just found it in the hardship forums on this site. Not very top secret as readily available on internet - I stumbled across the site doing a search for minimum income needed for living according to the government!

Apologies, not intentionally duplicated.

[Crispybacon]

Re: How Much Should You Have To Live?

The amount we budget for food/groceries is half of what the CFS figures state we could claim for our family.

The CFS (common financial statement) fiugures are really good information to have though.

When I used to contact creditors by phone (when I didn't know better), several demanded that I could reduce our groceries budget. When I countered how they expected me to reduce a budget that was already significantly less than that allowed under the CFS a lot of 'erm', 'ahhs' and huffing and puffing ensued.

Another example of knowledge being power..........

Admittedly it is a real struggle week to week, but I know that when I am debt free what we have learned about living in a frugal manner is going to pay real dividends.

Thanks for the link Casp

Crispy

[never-in-doubt]

Re: How Much Should You Have To Live?

ps Can't find it assuming you're talking about his own site. Looked under hardship, but can't see it, not that it matters anyway.

It was hidden, not now!

I am deliberately posting old ranges as MAT have issued a legal threat to me for copyright infringement (as they are protective of this) - obviously as soon as I changed the figures, copyright claims went out the window!

---> Financial Hardship - Trigger Figures

[leclerc]

Re: How Much Should You Have To Live?

It was hidden, not now!

I am deliberately posting old ranges as MAT have issued a legal threat to me for copyright infringement (as they are protective of this) - obviously as soon as I changed the figures, copyright claims went out the window!

---> Financial Hardship - Trigger Figures

I would add with anyone claiming under FH that IF they simply put in figures to match the ranges then unfortunately, it will become pretty obvious to the banks that you are not being honest with the figures. Furthermore, FH is based on household income and expenditure and not just individual I&E. If it was then it would defeat the whole object of FH.

[never-in-doubt]

Re: How Much Should You Have To Live?

I would add with anyone claiming under FH that IF they simply put in figures to match the ranges then unfortunately, it will become pretty obvious to the banks that you are not being honest with the figures. Furthermore, FH is based on household income and expenditure and not just individual I&E. If it was then it would defeat the whole object of FH.

It doesn't matter whether the banks think that - that's the whole point! If it falls within the ranges then they do need to take it into account, simples.

The fact we explain examples, should give away that is is "household" and not "individual" ---> Financial Hardship - Trigger Figures

That's all we're trying to achieve.

[leclerc]

Re: How Much Should You Have To Live?

It doesn't matter whether the banks think that - that's the whole point! If it falls within the ranges then they do need to take it into account, simples.
Lending code section 9 part 206....it does matter if the figures do not add up and there is a reasonable cause to challenge this.
The fact we explain examples, should give away that is is "household" and not "individual" ---> Financial Hardship - Trigger Figures

That's all we're trying to achieve.

"206. If a customer works with a debt-counselling organisation to complete a CFS, in support of a debt management plan, the subscriber should accept the CFS as the basis for pro-rata distribution amongst creditors covered by the plan.
Repayment offers based upon expenditure falling within the trigger figures of the CFS should only be challenged by the subscriber if it has reasonable cause to believe that the customer’s income and expenditure figures may be incomplete or inaccurate. This provision is designed to help people in or at risk of being in financial difficulties, and subscribers should use the provision when accounts have gone into default or at an earlier stage if it benefits both
them and the customer."

See in bold.

[never-in-doubt]

Re: How Much Should You Have To Live?

"206. If a customer works with a debt-counselling organisation to complete a CFS, in support of a debt management plan, the subscriber should accept the CFS as the basis for pro-rata distribution amongst creditors covered by the plan.
Repayment offers based upon expenditure falling within the trigger figures of the CFS should only be challenged by the subscriber if it has reasonable cause to believe that the customer’s income and expenditure figures may be incomplete or inaccurate. This provision is designed to help people in or at risk of being in financial difficulties, and subscribers should use the provision when accounts have gone into default or at an earlier stage if it benefits both
them and the customer."

See in bold.

Did you forget I posted the updatewd lending code here for you all, the old one was still here prior to my adding it!

---> Legal Beagles Consumer Forum - View Single Post - THE LENDING CODE - section 9

Ive read it thanks, its fine - I know what i'm doing and trust me, it helps many

I'm anti banks, remember that - so therefore will do what I can to annoy them!

[never-in-doubt]

Re: How Much Should You Have To Live?

Sorry, I will elaborate instead of editing my previous message.

My trigger figure section CLEARLY says that the info read should be used ONLY to help them go to their DMP meeting whatever with an idea of what figures they can use. Ok, i'll explain. Say if you make a post on MSE right now using an SoA calculator you'll get 100 replies saying "get rid of sky, get rid of the mobiles, get rid of this, do you need 2 cars etc etc" - my argument is why should a debtor do this? The trigger figures say they are allowed up to X amount and so ordinarily they may well approach a DMC with an idea to pay what they can based on losing all their comforts - sod that!

KEEP the comforts and pay the creditor less by manipulating the figures. For once Nattie, stop trying to pick fault in what I do and see it from the bigger picture - I will do anything within my power to help a debtor and screw over a bank, so if this goes against your ethos I'm sorry.

[The Debt Star]

Re: How Much Should You Have To Live?

I will do anything within my power to help a debtor and screw over a bank,

I like the cut of your jib

Screw the banks

[Differentjudge]

Re: How Much Should You Have To Live?

i wish i had read this before sending an I&E to MBNA/Optima...they said that i should take out some of the items in my expenditure

even told me i was spending too much on the Kids .....

cheeky B**T**DS

[never-in-doubt]

Re: How Much Should You Have To Live?

i wish i had read this before sending an I&E to MBNA/Optima...they said that i should take out some of the items in my expenditure

even told me i was spending too much on the Kids .....

cheeky B**T**DS

Exactly the reason my reasoning for advertising the Trigger Figures exists. The banks are scum.

Nattie, hopefully now you'll realise why I behave as unorthodox as I do because if you play nice you become anally retarded like the banks!