What is an Income & Expenditure?
An income and expenditure is an effective way to assess your financial situation. It involves setting out what money you have coming in, how much your outgoings are and asks some questions about your personal circumstances such as your employment, children, vehicle…etc.
How will it help me?
- A completed income and expenditure can help you to understand your budget. This can then help you to plan ahead financially and understand if any savings can be made and what surplus income you have available after your priority bills are taken care of.
- A budget can help you take stock of your spending, rather than getting to the end of the month and wondering where it’s all gone. It can be the first step in tackling money worries.
- It can be shared with creditors like us, to ensure your living expenses have been accounted for when considering ways to help you.
What do I need to include in my Income and Expenditure?
- You’ll need to fill in your income, expenses and debts
- You need to be as accurate as possible to give a true reflection of your situation
- Consider some expenses will be more of a priority than others
Who are IE Hub?
IE Hub is a trusted company who can help you complete and manage income and expenditure for free. IE Hub are members of the Money Advice Liaison Group.
Why IE Hub?
There are various income and expenditure templates available online, but, IE Hub is a trusted company which will allow you to share your information directly with The Kids Division.
IE Hub has the ability to share to allow you to share your information with other creditors.
Or, if you’d prefer, you can download, print and/or e-mail your income and expenditure assessment to us.
How do I share my IE with The Kids Division?
Log into the IE Hub portal. On your dashboard click preview. Located in the top right-hand corner are four icons. Click share. In the access grants tab, type The Kids Division. Once located click add, then submit.
That will have added us to your share list and enable us to access your IE information.
You can remove this access at any time.