Up until a few months ago, I'd never even heard of a Trust Deed.. Now I'm in one! I've even found out one of my friends is in one too! After speaking to her about our trust deeds.... I Realised she has a pretty high allowance for things???! She only has 1 kid and I have 2 so surely her allowance for things should be lower? Our trust deeds are with different companies. Are expenditure figures not pretty much set in stone??
They're set in ranges Nemo1.
Some families spend more on some things and less on others.
In general you'd expect larger families to have larger allowances, but much depends on what they say they need and whether this fits within the ranges for their family size.
Would it be normal to be left with around one thousand pounds a month for housekeeping??
Answering that question is a bit like trying to pin jelly to the wall! There are so many variables.
Has your friend shown you her income and expenditure form, or is she exaggerating a bit, whether out of embarrassment or some other reason?
Maybe someone in her family has a medical condition which she doesn't want to discuss with anyone else, but which means that her housekeeping bills are higher than normal. Just as an example.
At the end of the day, her allowances are her allowances; your allowances are yours. If you feel that your allowances are too low, you can go back to your trustee to discuss it. I'd recommend arming yourself with receipts, to demonstrate how much you are actually spending. Then wait for the trustee's decision.
trust deeds cannot be compared on a like for like basis. If you are unhappy with your allowances as you are struggling talk to your chosen firm,dont be concerned that someone else appears to be paying less or more.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Yeah I guess it's silly to compare. We are managing ok, for months we had no money at all and now we do actually have the funds for things!! I wasnt asking cos I was struggling, just being nosy I guess ๐