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Hi, I'm just starting to get a handle on my finances after a sudden change of circumstances. I'm in around £8,000 of unsecured debt to various loans/overdrafts/credit cards/catalogues, and now my landlord (I'm a leaseholder) as such saddled me with an additional £2,500 debt which has tipped me over the edge. I'm in the process of opening a new Current Account and Saving Account with a Building Society and am now trying to rework my SoA so I can comfortably afford to repay these debts but also not have to get into further debt when the excrement next hits the fan. Up till now I've budget quiet tightly to keep up with at least minimum payments but when the car breaks, as it did over Christmas, I end up loading up the credit cards again and am back to square one. So I want to budget properly this time and save a little for such occurrences. I've been searching around both this site and various others (many linked to from here) and reading a lot of quality information, but I can't find the answer to one specific question...Just what is regarded to be the industry accepted allowances in a SoA? How much is reasonable for things like Sky TV, Hobbies or Holidays? What is acceptable to save for, like a new car in 4 years time, and what would be taking the proverbial? I want to make sure the figures I use are both realistic and acceptable. Thanks in advance for any advice offered.
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