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SOA help please
debtfreeserge
Posts: 5 Forumite
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1700
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1700
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 362.5
Management charge (leasehold property).. 0
Council tax............................. 50
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 6
Mobile phone............................ 35
TV Licence.............................. 10
Satellite/Cable TV...................... 38
Internet Services....................... 0
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 10
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 15
Entertainment........................... 40
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 906.5
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Cards...................4250......180.......0
Loans..........................12176.....191.......0
Overdraft......................2000......150.......0
Total unsecured debts..........18426.....521.......-
Monthly Budget Summary
Total monthly income.................... 1,700
Expenses (including HP & secured debts). 906.5
Available for debt repayments........... 793.5
Monthly UNsecured debt repayments....... 521
Amount left after debt repayments....... 272.5
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,426
Net Assets.............................. -18,426
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1700
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1700
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 362.5
Management charge (leasehold property).. 0
Council tax............................. 50
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 6
Mobile phone............................ 35
TV Licence.............................. 10
Satellite/Cable TV...................... 38
Internet Services....................... 0
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 10
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 15
Entertainment........................... 40
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 906.5
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Cards...................4250......180.......0
Loans..........................12176.....191.......0
Overdraft......................2000......150.......0
Total unsecured debts..........18426.....521.......-
Monthly Budget Summary
Total monthly income.................... 1,700
Expenses (including HP & secured debts). 906.5
Available for debt repayments........... 793.5
Monthly UNsecured debt repayments....... 521
Amount left after debt repayments....... 272.5
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,426
Net Assets.............................. -18,426
0
Comments
-
Good morning all
Hi debtfreeserge, you might be get a lot more replies if you start a new thread
If you look near the top of the DFW main board you will see
click on that and you should get more help PROUD 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 -
debtfreeserge wrote: »Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1700
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1700
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 362.5
Management charge (leasehold property).. 0
Council tax............................. 50
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30 look at getting a water meter
Telephone (land line)................... 6
Mobile phone............................ 35 is this the best tarrif you can get,
TV Licence.............................. 10 should be £12
Satellite/Cable TV...................... 38 Look at phone/internet/tv bundle packages
Internet Services....................... 0
Groceries etc. ......................... 40 ??? is that a weekly total?
Clothing................................ 0 budget something here £10 per month
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 10 All insurance checkout Martins article,
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30 Reduce this
Haircuts................................ 15
Entertainment........................... 40
Holiday................................. 50
Emergency fund.......................... 0 need something here £10 a month
Total monthly expenses.................. 906.5
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Cards...................4250......180.......0 ?What are the APR's?
Loans..........................12176.....191.......0?
Overdraft......................2000......150.......0?
Total unsecured debts..........18426.....521.......-
Monthly Budget Summary
Total monthly income.................... 1,700
Expenses (including HP & secured debts). 906.5
Available for debt repayments........... 793.5
Monthly UNsecured debt repayments....... 521
Amount left after debt repayments....... 272.5
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,426
Net Assets.............................. -18,426
I've left a few comments, in red and well done for posting it,
It says you have a surplus, my guess is you don't, keep a spending diary, write down
everything you spend on and you'll see where that surplus goes
: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 -
Council tax............................. 50
Can you pay over 12 months rather than 10? Some councils allow this.
Electricity............................. 40
Gas..................................... 40
Checj the comparison sites to see if you are getting the best deal (uswitch, moneysupermarket)
Mobile phone............................ 35
PAYG?
Telephone (land line)................... 6
Satellite/Cable TV...................... 38
Internet Services....................... 0
Is this a package deal?
Groceries etc. ......................... 40
Are you sure this is right? Well done if it is all you spend.
Clothing................................ 0
Need something in here - even if just £5pm. How much did you spend on clothes/shoes in the last 2 years?
Entertainment........................... 40
You only spend £10 a week on going out?
Hi Serge
Hope you don't mind me dropping a few suggestion. One thing i would strongly advise doing, so that you know the SOA and any budgeting you do is as accurate as possible, is to keep a spending diary as Numpty Monkey suggested. This will allow you to see exactly how much you have available at the end of the month for debt repayments and overpayments.
I agree that you should also keep a little aside for emergencies. I saved a little each month until i had what i thought was a good enough buffer that could handle any suprises that may come my way, then just concentrated on putting the rest towards my debts.
If your credit card isn't on a 0% promotion, is this something that you might be able to look into? I used to get so annoyed with myself when i saw how much i had paid to the banks in interest when i could have used the money for other things.
Have a look at the snowball calculator if you haven't already.
http://www.whatsthecost.com/snowball.aspx
I would concentrate on making the minimum payments to all the debts, then throwing the surplus you have at the end of the month (you have about £270 according to the SOA) at the debt with the highest APR. This will reduce the amount of interest you are paying and help reduce the debt quicker.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
Council tax............................. 50
Can you pay over 12 months rather than 10? Some councils allow this.
Electricity............................. 40
Gas..................................... 40
Checj the comparison sites to see if you are getting the best deal (uswitch, moneysupermarket)
Mobile phone............................ 35
PAYG?
Telephone (land line)................... 6
Satellite/Cable TV...................... 38
Internet Services....................... 0
Is this a package deal?
Groceries etc. ......................... 40
Are you sure this is right? Well done if it is all you spend.
Clothing................................ 0
Need something in here - even if just £5pm. How much did you spend on clothes/shoes in the last 2 years?
Entertainment........................... 40
You only spend £10 a week on going out?
Hi Serge
Hope you don't mind me dropping a few suggestion. One thing i would strongly advise doing, so that you know the SOA and any budgeting you do is as accurate as possible, is to keep a spending diary as Numpty Monkey suggested. This will allow you to see exactly how much you have available at the end of the month for debt repayments and overpayments.
I agree that you should also keep a little aside for emergencies. I saved a little each month until i had what i thought was a good enough buffer that could handle any suprises that may come my way, then just concentrated on putting the rest towards my debts.
If your credit card isn't on a 0% promotion, is this something that you might be able to look into? I used to get so annoyed with myself when i saw how much i had paid to the banks in interest when i could have used the money for other things.
Have a look at the snowball calculator if you haven't already.
I would concentrate on making the minimum payments to all the debts, then throwing the surplus you have at the end of the month (you have about £270 according to the SOA) at the debt with the highest APR. This will reduce the amount of interest you are paying and help reduce the debt quicker.
Thanks George.
I feel so very welcome here already :beer:
This was a very rash and hasty SOA and I am already making a diary of my expenditure. I have a stag do next weekend and I'm guessing that comes under entertainment?
I will do a far more version of this at the end of the month. As you say, until you begin to tally things you never know do you!
Thanks again George :A0
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