Form E help(4 Posts)
industrial Fri 03-Jan-20 17:12:08
UncleHerbie Fri 03-Jan-20 18:07:53
MrsBertBibby Fri 03-Jan-20 18:50:46
caketimeisover Tue 07-Jan-20 19:22:11
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Hi does anyone have a link to guidance notes on how best to complete Form E.
I'm a bit stumped on No39, financial requirements.
What do I need to include in 3.1 Income Needs
And 3.1.1 income needs for yourself
Part 2 capital needs
Income needs is exactly that : all your monthly needs. Housing, bills, clothing, debts, car, phones, food, hairdressing, holidays, gifts, Xmas, etc. Plus for the kids. The total should represent the Income you need to cover you every month.
Capital is how much you need to tehouse/replace a car etc.
I've just filled in something very similar for mediation. For income needs, I used an expenses spreadsheet to itemise all my outgoings - you'll probably think of the big things like housing etc, but it's worth itemising everything and there's probably loads of stuff you might not think of. Something like this: www.startmediation.co.uk/wp-content/uploads/2014/02/Budget-planner.pdf
Then in the main box in the form I just put the totals for each section (housing, children, transport etc)
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