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SOA Please dont laugh its my first attempt AH!!!!
keepmyhouse
Posts: 134 Forumite
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 1759
Other income............................ 333
Total monthly income.................... 3152
Monthly Expense Details
Mortgage................................ 389
Secured loan repayments................. 301
Hire Purchase (HP) repayments........... 0
Rent....................................
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 100
Gas..................................... 120
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 40
Mobile phone............................ 30
TV Licence.............................. 18
Satellite/Cable TV...................... 35
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 100
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 56
Car maintenance (including MOT)......... 30
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 966
Other child related expenses............ 11
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance......................0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment...........................50
Holiday................................. 40
Emergency fund.......................... 0
Workwear................................ 15
Tools................................... 0
Total monthly expenses.................. 3034
Assets
Cash.................................... 0
House value (Gross)..................... 100,000
Shares and bonds........................ 5
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 101,205
Monthly Budget Summary
Total monthly income.................... 3152
Expenses (including HP & secured debts) 3034
Available for debt repayments........... 118
Monthly UNsecured debt repayments....... 530
Amount left after debt repayments....... -412
Personal Balance Sheet Summary
Total assets (things you own)........... 101,205
Total HP & Secured debt................. 103,500
Total Unsecured debt.................... 19,000
Net Assets.............................. -21,295
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 1759
Other income............................ 333
Total monthly income.................... 3152
Monthly Expense Details
Mortgage................................ 389
Secured loan repayments................. 301
Hire Purchase (HP) repayments........... 0
Rent....................................
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 100
Gas..................................... 120
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 40
Mobile phone............................ 30
TV Licence.............................. 18
Satellite/Cable TV...................... 35
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 100
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 56
Car maintenance (including MOT)......... 30
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 966
Other child related expenses............ 11
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance......................0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment...........................50
Holiday................................. 40
Emergency fund.......................... 0
Workwear................................ 15
Tools................................... 0
Total monthly expenses.................. 3034
Assets
Cash.................................... 0
House value (Gross)..................... 100,000
Shares and bonds........................ 5
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 101,205
Monthly Budget Summary
Total monthly income.................... 3152
Expenses (including HP & secured debts) 3034
Available for debt repayments........... 118
Monthly UNsecured debt repayments....... 530
Amount left after debt repayments....... -412
Personal Balance Sheet Summary
Total assets (things you own)........... 101,205
Total HP & Secured debt................. 103,500
Total Unsecured debt.................... 19,000
Net Assets.............................. -21,295
0
Comments
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Not bad for a first attempt!keepmyhouse wrote: »Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 1759 separate out CHB
Other income............................ 333
Total monthly income.................... 3152
Monthly Expense Details
Mortgage................................ 389
Secured loan repayments................. 301
Hire Purchase (HP) repayments........... 0
Rent....................................
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 100
Gas..................................... 120
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 40 £60 for phone including mobile
Mobile phone............................ 30 as above
TV Licence.............................. 18
Satellite/Cable TV...................... 35 not allowed
Internet Services....................... 0
Groceries etc. ......................... 400 500
Clothing................................ 100
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 56
Car maintenance (including MOT)......... 30
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 966
Other child related expenses............ 11
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance......................0
Life assurance ......................... 0 should get this
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 not allowed but leave in anyway
Haircuts................................ 20
Entertainment...........................50 BR's aren't allowed entertainment
Holiday................................. 40
Emergency fund.......................... 0
Workwear................................ 15 add to clothing
Tools................................... 0
Total monthly expenses.................. 3034
Assets
Cash.................................... 0
House value (Gross)..................... 100,000
Shares and bonds........................ 5
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 101,205
Monthly Budget Summary
Total monthly income.................... 3152
Expenses (including HP & secured debts) 3034
Available for debt repayments........... 118
Monthly UNsecured debt repayments....... 530
Amount left after debt repayments....... -412
Personal Balance Sheet Summary
Total assets (things you own)........... 101,205
Total HP & Secured debt................. 103,500
Total Unsecured debt.................... 19,000
Net Assets.............................. -21,295
:j :j
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What are the benefits you are getting and how much is each? Some of them won't count towards your income (but still need to be listed) for IPA purposes.
You can have sky etc but it will have to come out of any surplus you have.
:j :j
0 -
keepmyhouse wrote: »Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 1759
Other income............................ 333
Total monthly income.................... 3152
Monthly Expense Details
Mortgage................................ 389
Secured loan repayments................. 301
Hire Purchase (HP) repayments........... 0
Rent....................................
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 100 this is quite high the OR may ask you to prove useage
Gas..................................... 120 ditto
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 40 OR usually only allows £60 max for phone and mobile
Mobile phone............................ 30
TV Licence.............................. 18 £12
Satellite/Cable TV...................... 35 Not allowed on your SoA but you can have it out of surplus.
Internet Services....................... 0
Groceries etc. ......................... 400 up this to £475/500
Clothing................................ 100
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 56 is this fully comp?
Car maintenance (including MOT)......... 30
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 966
Other child related expenses............ 11 £5 per child per week activities
Medical (prescriptions, dentist etc).... 0 £20
Pet insurance/vet bills................. 0 do you have pets?
Buildings insurance..................... 0 do you not have this?
Contents insurance......................0 you need to have this, especially with accidental damage. This is important as a BR.
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 some allow some don't but leave and see.
Haircuts................................ 20 £10 per adult £5 per child
Entertainment...........................50 Not allowed
Holiday................................. 40 £60
Emergency fund.......................... 0
Workwear................................ 15
Tools................................... 0
Total monthly expenses.................. 3034
Assets
Cash.................................... 0
House value (Gross)..................... 100,000
Shares and bonds........................ 5
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 101,205
Monthly Budget Summary
Total monthly income.................... 3152
Expenses (including HP & secured debts) 3034
Available for debt repayments........... 118
Monthly UNsecured debt repayments....... 530
Amount left after debt repayments....... -412
Personal Balance Sheet Summary
Total assets (things you own)........... 101,205
Total HP & Secured debt................. 103,500
Total Unsecured debt.................... 19,000
Net Assets.............................. -21,295
How old are your children?BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
fiveyearplan wrote: »What are the benefits you are getting and how much is each? Some of them won't count towards your income (but still need to be listed) for IPA purposes.
You can have sky etc but it will have to come out of any surplus you have.
I get
1560 - WFTC/CTC - This will drop a fair bit in April prob by £400
199 - CHB
Also the other income I have stated is maintainence, £47 of it every week without fail, the other £30 hit and miss0 -
Apart from CHB I'm not sure what benefits can be counted our not but I posed the question so someone who does know can comment.
As for the maintenance, not sure how you would 'technically' put it but if it was me, I would only put down the £47 guaranteed and leave out the other £30 if you don't receive it regularly.
:j :j
0 -
The WFTC and CTC will be counted towards an IPA but the CHB will not be.
Agree with FYP just mention the guaranteed maintenance.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Forgive me but £3,152 a month coming in, yikes, thats a lot of money. me and my husband don't even earn that and we work fulltime and no kids.
Good job we don't have kids then, wouldn't be able to afford them. Didn't realise how expensive having children were.
I'm not being nasty either, just didn't realise what benefits people get and am quite shocked at the amounts.0 -
tigerfeet2006 wrote: »How old are your children?
Originally Posted by keepmyhouse
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 1759
Other income............................ 333
Total monthly income.................... 3152
Monthly Expense Details
Mortgage................................ 389
Secured loan repayments................. 301
Hire Purchase (HP) repayments........... 0
Rent....................................
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 100 this is quite high the OR may ask you to prove useage - Ok I can prove - would not mind but Im never in!!!
Gas..................................... 120 ditto ditto ah ah
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 60 OR usually only allows £60 max for phone and mobile
Mobile phone............................ 0
TV Licence.............................. 18 £12 Mine is 18 at the mo, but will go down soon, will he be ok with this?
Satellite/Cable TV...................... 35 Not allowed on your SoA but you can have it out of surplus. OK understand
Internet Services....................... 0
Groceries etc. ......................... 500 for me then up this to £475/500
Clothing................................ 100
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 56 is this fully comp? Yes is this allowed?
Car maintenance (including MOT)......... 30
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 966
Other child related expenses............ 15 then £5 per child per week activities
Medical (prescriptions, dentist etc).... 0 £20 - I have exemption
Pet insurance/vet bills................. 0 do you have pets? Dog worth 500 dont want him to find out
Buildings insurance..................... 0 do you not have this? Should I get some?
Contents insurance......................0 you need to have this, especially with accidental damage. This is important as a BR.Is this because I wont be able to pay for replacement etc? i.e skint?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 some allow some don't but leave and see. Will do worth a try for the kids sake, otherwise Santa on strike this year!!!!!!!
Haircuts................................ 25 then£10 per adult £5 per child
Entertainment...........................0 then Not allowed
Holiday................................. 60 £60 - Mexico here I come!!!!
Emergency fund.......................... 0
Workwear................................ 15
Tools................................... 0
Am I on the right track, should I get some buildings and contents? Oh they are 3, 5, 8 years old x x x0 -
keepmyhouse wrote: »Originally Posted by keepmyhouse
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 1759 1560
CHB 199
Other income............................ 333
Total monthly income.................... 3152
Monthly Expense Details
Mortgage................................ 389
Secured loan repayments................. 301
Hire Purchase (HP) repayments........... 0
Rent....................................
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 100 this is quite high the OR may ask you to prove useage - Ok I can prove - would not mind but Im never in!!!
Gas..................................... 120 ditto ditto ah ah
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 60 OR usually only allows £60 max for phone and mobile
Mobile phone............................ 0
TV Licence.............................. 18 £12 Mine is 18 at the mo, but will go down soon, will he be ok with this? No, needs to be 12
Satellite/Cable TV...................... 35 Not allowed on your SoA but you can have it out of surplus. OK understand
Internet Services....................... 0
Groceries etc. ......................... 500 for me then up this to £475/500
Clothing................................ 100
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 56 is this fully comp? Yes is this allowed? yes, if your can is exempt (needed for work)
Car maintenance (including MOT)......... 30
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 966
Other child related expenses............ 15 then £5 per child per week activities that would be 60 per month then
Medical (prescriptions, dentist etc).... 0 £20 - I have exemption
Pet insurance/vet bills................. 0 do you have pets? Dog worth 500 dont want him to find out put it down unless they're show dogs and you make money out of them you'll be fine.
Buildings insurance..................... 0 do you not have this? Should I get some? its probably a stipulation of your mortgage that you do have bldg insurance
Contents insurance......................0 you need to have this, especially with accidental damage. This is important as a BR.Is this because I wont be able to pay for replacement etc? i.e skint? YES! you'll probably find it cheaper if you tag it along with bldgs insurance
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 some allow some don't but leave and see. Will do worth a try for the kids sake, otherwise Santa on strike this year!!!!!!!
Haircuts................................ 25 then£10 per adult £5 per child
Entertainment...........................0 then Not allowed
Holiday................................. 60 £60 - Mexico here I come!!!! Me too - just as soon as I sell my house!
Emergency fund.......................... 0
Workwear................................ 15
Tools................................... 0
Am I on the right track, should I get some buildings and contents? Oh they are 3, 5, 8 years old x x x
Yes, you are on the right track. We want to get it to be under £99 surplus so you won't have to pay IPA for 36 months.
:j :j
0 -
child expenses are £5 per child per week so could actually up that to £60!
definitely get some buildings and contents cover - you can get £50 cashback with the Halifax for taking a policy and £50 every year that you do not claim, but just be careful because they may ask about BR or put a BR clause in the t&c somewhere and they are not the cheapest cover provider on the market so make sure that you do shop around as well!
Fully comp car insurance is a must!
and when I went to court, welfare rights told me I could have had £80 for a holiday for two adults and two kids (i only had £40) so £60 is probably about right for you.
Hope this helps!
Donna
disclaimer - I am not recommending the OP take a halifax policy just because I work for them....but I would have done it myself and had the £50 quid if they were not more expensive than the cover I have now! even with a staff discount applied but we have also had a recent claim!! :rolleyes: BSC #215/No.1 Jan 09 Club0
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