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HELP! -New SOA - All advice welcome
Jellybean1
Posts: 15 Forumite
Quick background before the horror is revealed: DH lost his job earlier this year and it's been really tough. He couldn't get another job and his stupid pride prevented him from signing on and asking for help. As a result we've been living off the credit cards to top up the missing income. It's just a mess. He's finally found a job now but the salary is roughly £1K less than he was getting previously so things are going to be really difficult - especially as the cc's are maxed out now. The SOA is very rough and I will refine it once I get the proper % APR's etc. but just needed to get it down on the page while I was in the right frame of mind. Anyway, here goes (please ge gently with me!):o
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1232
Partners monthly income after tax....... 999
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2231
Monthly Expense Details
Mortgage................................ 711.45
Secured loan repayments................. 209.11
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 159
Electricity............................. 60
Gas..................................... 80
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 50
Mobile phone............................ 100
TV Licence.............................. 11.21
Satellite/Cable TV...................... 32
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 20
Petrol/diesel........................... 20
Road tax................................ 80
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 96
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 38
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 20
Life assurance ......................... 9.99
Other insurance......................... 27.95
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
select.................................. 17
car payment............................. 152.3
sofa repayment.......................... 112
Total monthly expenses.................. 2276.01
Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 190000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(711.45)...0
Secured Debt.................. 10000....(209.11)...0
Total secured debts........... 175000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
lloyds.........................9200......186.......0
tesco..........................4700......160.......0
virgin.........................1980......65........0
debenhams......................150.......5.........0
frasers........................24.71.....5.........26.05
egg money......................930.......120.......0
egg card.......................4800......20........0
Total unsecured debts..........21784.71..561.......-
Monthly Budget Summary
Total monthly income.................... 2,231
Expenses (including secured debts)....... 2,276.01
Available for debt repayments........... -45.01
Monthly UNsecured debt repayments....... 561
Surplus(deficit if negative)............ -606.01
Personal Balance Sheet Summary
Total assets (things you own)........... 190,000
Total Secured debt...................... -175,000
Total Unsecured debt.................... -21,784.71
Net Assets.............................. -6,784.71
Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
2 adults, 3 cats, 0 kids.
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1232
Partners monthly income after tax....... 999
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2231
Monthly Expense Details
Mortgage................................ 711.45
Secured loan repayments................. 209.11
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 159
Electricity............................. 60
Gas..................................... 80
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 50
Mobile phone............................ 100
TV Licence.............................. 11.21
Satellite/Cable TV...................... 32
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 20
Petrol/diesel........................... 20
Road tax................................ 80
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 96
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 38
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 20
Life assurance ......................... 9.99
Other insurance......................... 27.95
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
select.................................. 17
car payment............................. 152.3
sofa repayment.......................... 112
Total monthly expenses.................. 2276.01
Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 190000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(711.45)...0
Secured Debt.................. 10000....(209.11)...0
Total secured debts........... 175000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
lloyds.........................9200......186.......0
tesco..........................4700......160.......0
virgin.........................1980......65........0
debenhams......................150.......5.........0
frasers........................24.71.....5.........26.05
egg money......................930.......120.......0
egg card.......................4800......20........0
Total unsecured debts..........21784.71..561.......-
Monthly Budget Summary
Total monthly income.................... 2,231
Expenses (including secured debts)....... 2,276.01
Available for debt repayments........... -45.01
Monthly UNsecured debt repayments....... 561
Surplus(deficit if negative)............ -606.01
Personal Balance Sheet Summary
Total assets (things you own)........... 190,000
Total Secured debt...................... -175,000
Total Unsecured debt.................... -21,784.71
Net Assets.............................. -6,784.71
Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
2 adults, 3 cats, 0 kids.
0
Comments
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road tax £80 a month?
on first reading your utility bills and phone bills seem very high.
and as always people will tell you to ditch sky or at least phone up and see if you can get a discount.x x x0 -
£100 on mobile phones, can you find a different contract or go payg??Breast Cancer Now 100 miles October 2022 100 / 100miles
D- Day 80km June 2024 80/80km (10.06.24 all done)
Diabetic UK 1 million steps July 2024 to complete by end Sept 2024. 1,001,066/ 1,000,000 (20.09.24 all done)
Breast Cancer Now 100 miles 1st May 2025 (18.05.2025 all done)
Diabetic UK 1 million steps July 2025 to complete by end Sept 2025. 1,006,489 / 1,000,000 (10.09.25 all done)Sun, Sea0 -
Sorry, the road tax is due at the end of this month and I've just discovered its £66 for 6 months! We've just switched to card meters for gas and elec so these figures are approx. BG had hiked up the monthly direct debit for gas to £155 and £80 for elec so we just couldn't afford that. Don't know where they were getting their figures from, I know the cost of gas has shot up but £155 a month?! Yes, Sky will def. need to go and DH mobile will need to be cut as it's been £80 for last 2 months!!!0
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Monthly Income Details
Monthly income after tax................ 1232
Partners monthly income after tax....... 999
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2231
Monthly Expense Details
Mortgage................................ 711.45 always pay could you go to intrest free or take a mortgage break for a few months if the company allows ?
Secured loan repayments................. 209.11 always pay
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 159 is this right ? have you checked can you pay over 12 months
Electricity............................. 60
Gas..................................... 80
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 50 who is this with im with sky for everything a total of 33 pound thats sky internet and phone, 5 quid to phone free to home numbers and international up to an hour
Mobile phone............................ 100 how many phones is this paygo, if not return the phone and cancel the contract have paygo for a bit
TV Licence.............................. 11.21
Satellite/Cable TV...................... 32
Internet Services....................... 0
Groceries etc. ......................... 200 shop at aldi and try to drop a brand i have done it and i notice the difference.....also plan the meals are you buying things that you are throwing away ?? if so dont buy them really cut back if you can 3 weeks out of the month i do sometimes enjoy some niceties in my shop
Clothing................................ 20 no clothes for a few months..... i havent spent on clothes in ages and i love clothes im making the best of what i have for now
Petrol/diesel........................... 20
Road tax................................ 80 a month or a year ??
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 96 whats this
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 38
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 20
Life assurance ......................... 9.99
Other insurance......................... 27.95
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
select.................................. 17
car payment............................. 152.3
sofa repayment.......................... 112
Total monthly expenses.................. 2276.01
Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 190000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(711.45)...0
Secured Debt.................. 10000....(209.11)...0
Total secured debts........... 175000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
lloyds.........................9200......186.......0
tesco..........................4700......160.......0
virgin.........................1980......65........0
debenhams......................150.......5.........0
frasers........................24.71.....5.........26.05
egg money......................930.......120.......0
egg card.......................4800......20........0
Total unsecured debts..........21784.71..561.......-
Monthly Budget Summary
Total monthly income.................... 2,231
Expenses (including secured debts)....... 2,276.01
Available for debt repayments........... -45.01
Monthly UNsecured debt repayments....... 561
Surplus(deficit if negative)............ -606.01
Personal Balance Sheet Summary
Total assets (things you own)........... 190,000
Total Secured debt...................... -175,000
Total Unsecured debt.................... -21,784.71
Net Assets.............................. -6,784.71
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
im not the best at budgeting but 600 negative isnt good you need some big changes do you need a brand new car sell it back i know these seem extravagent but at the current climate i would not be willing to take chances on luxury i runa car that was 300 quid and it suits me ... when im debt free i intend to save and buy a new one well 2nd hand hop i was of some help xx I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680 -
Jellybean1 wrote: »Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1232
Partners monthly income after tax....... 999
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2231
Monthly Expense Details
Mortgage................................ 711.45
Secured loan repayments................. 209.11
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 159
Electricity............................. 60 Bit high...
Gas..................................... 80 This seems high - have you checked to see if you can get this cheaper and if not then turn the heating down a bit...
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 50 Ouch definitely high - what does this include?
Mobile phone............................ 100 ??? Reallly??? This has to come down! either go pay as you go or reduce your package!
TV Licence.............................. 11.21
Satellite/Cable TV...................... 32 This is a luxury - and one you can't afford right now. Cancel this - get freeview.
Internet Services....................... 0
Groceries etc. ......................... 200 Look on the OS board for great ideas to cut this
Clothing................................ 20
Petrol/diesel........................... 20
Road tax................................ 80 A month?? do you mean a year?
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 96
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 38 Is this prescriptions or insurances? If prescription then get the season card
Pet insurance/vet bills................. 0
Buildings insurance..................... 30 Hmm check you can't get this cheaper
Contents insurance...................... 20 ditto
Life assurance ......................... 9.99 ditto
Other insurance......................... 27.95 What is this for?
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
select.................................. 17
car payment............................. 152.3 How long to go?
sofa repayment.......................... 112 How long to go?
Total monthly expenses.................. 2276.01
Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 190000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(711.45)...0
Secured Debt.................. 10000....(209.11)...0
Total secured debts........... 175000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
lloyds.........................9200......186.......0
tesco..........................4700......160.......0
virgin.........................1980......65........0
debenhams......................150.......5.........0
frasers........................24.71.....5.........26.05
egg money......................930.......120.......0
egg card.......................4800......20........0
Total unsecured debts..........21784.71..561.......-
Monthly Budget Summary
Total monthly income.................... 2,231
Expenses (including secured debts)....... 2,276.01
Available for debt repayments........... -45.01
Monthly UNsecured debt repayments....... 561
Surplus(deficit if negative)............ -606.01
Personal Balance Sheet Summary
Total assets (things you own)........... 190,000
Total Secured debt...................... -175,000
Total Unsecured debt.................... -21,784.71
Net Assets.............................. -6,784.71
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
2 adults, 3 cats, 0 kids.
Have made some suggestions... DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0 -
Hi jellybean,
Your food bill is really very high for just 2 adults £200!! £50 a month covers 3 adults in my household no problem.
Also as above post said £100 for mobiles is also very high. Is that for 2 mobiles? 02 has some fantastic offers on contract starting at £20. They have unlimited 02 to 02 calls.Make £5 a day JAN £121/175 FEB £283/175:jWeekly Grocery budget of £35! Jan £95.05/175 Feb £37.53/1750 -
Didnt want to read and run - I know that whatever mess you are in the experts on here will get sorted for you.
Good luck
Ax£10 per day Challenge (Oct)
£175 in paypal
£15 from consumer pulse
£5 M&S Voucher - thanks to direct line quote0 -
:hello:Hi and welcome aboard
Just had a quick look at your SOA , and well done on doing it:T
There are a few that leap out
Gas/Electricity £140 month, check you are on the best tarriffs, look at swapping use Martins ariicle
Turn the thermostats down ,turn the radiators off in rooms you don't use
turn off lights, and things on standby turn off at the wall
Mobile that is way to high, cancel contracts or lower tarrif if you can, go PAYG
Satalite and landline (gues the internet is bundled in there somewhere
you can get better deals on bundle packages
Sat/landline/mobile/internet mixes of the for less £40 a month
you are spending £182 pound a month on these
Groceries this could be cut try meal planning, drop a brand and have a visit to the OS board
they are amazing on there MoneySaving Old Style
I'm not a motorist but £80 per month is a lot
Prescriptions, have a look at a prepaid certificate (can't remember what they're called)
All your other insurance's are these the best ??
And your "other insurance" what is that
hope I haven't been to hard on you
the great people here will offer help
and you deserve a dodgy hug :grouphug:for posting
Don't be affraid we are nice:APROUD TO BE DEALING WITH MY DEBT NERD #869
DFD 5/1/16Numpty,Not sure why but I'm crying
. Of all the peeps on this board you're the kindest & most supportive of all & I'm :mad: & 
for you all at the same time . Wish I was there to give you a big :grouphug: & emergency hobnobs
xx0 -
Thanks for the quick responses. The car tax is £66 for 6 months (phew!). Sky is first thing to get cut, I agree. Mobile phones: I am PAYG, DH is contract and last 2 months this bill has shot up to £80 (not sure what's going on but this needs sorted I totally agree). Gas and Elec: we have just switched to card meters as BGas but up the DD's to £155 for gas and £80 for elec. These figures were just approx. so I'm sure I could get those down. Landline is with BT and the £50 is quartlery but thinking of getting rid completely. The travel costs are for our monthly rail passes, and the prescription costs are for my monthly cnontact lenses. Seriously considering getting rid of the car till things improve. Thanks for the tip on food budgeting, I'm sure I can work on getting this down too. Sofa payment: 22 payments to go. Car: still another 3 years to go but if I get rid then that's another burden off my shoulders. Thanks everyone and I hope I've answered all queries.0
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Sorry, other insurance is B Gas homecare cover i.e. boiler, electrics, plumbing etc.0
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