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Unable To Sleep - posting my SOA as suggested
carole1811
Posts: 4 Newbie
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1040
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1040
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 66
Electricity............................. 40
Gas..................................... 35
Oil..................................... 0
Water rates............................. 19
Telephone (land line)................... 30
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 16
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 28
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 23
Pet insurance/vet bills................. 27
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 906
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................10000.....225.......NaN
credit card....................3000......98........NaN
credit card....................1650......40........NaN
credit card....................1300......50........NaN
credit card....................400.......11........NaN
credit card....................382.......11........NaN
Total unsecured debts..........16732.....435.......-
Monthly Budget Summary
Total monthly income.................... 1,040
Expenses (including HP & secured debts). 906
Available for debt repayments........... 134
Monthly UNsecured debt repayments....... 435
Amount short for making debt repayments. -301
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -16,732
Net Assets.............................. -15,232
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1040
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1040
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 66
Electricity............................. 40
Gas..................................... 35
Oil..................................... 0
Water rates............................. 19
Telephone (land line)................... 30
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 16
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 28
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 23
Pet insurance/vet bills................. 27
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 906
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................10000.....225.......NaN
credit card....................3000......98........NaN
credit card....................1650......40........NaN
credit card....................1300......50........NaN
credit card....................400.......11........NaN
credit card....................382.......11........NaN
Total unsecured debts..........16732.....435.......-
Monthly Budget Summary
Total monthly income.................... 1,040
Expenses (including HP & secured debts). 906
Available for debt repayments........... 134
Monthly UNsecured debt repayments....... 435
Amount short for making debt repayments. -301
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -16,732
Net Assets.............................. -15,232
0
Comments
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You need to get in touch with one of the debt charities urgently - cccs, payplan etc - you dont get charged a fee. I was in your position a year ago.
Im on a debt management plan and now I can even save a little - best thing I ever did xxx :A:A0 -
Have you come to terms with never using credit cards again? You have a hard road of frugality ahead of you but imagine how much disposable income you will have when you have paid off all your debts! Good luck. I've been there years ago but it was the best thing I ever did and I feel so free and in control now.It's great to be ALIVE!0
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Hi.
Get in contact with CCCS or Payplan and see about setting a debt management plan up. Also for now Id see about cancelling sky as its an unnecessary expense and you can definetely get your grocery budget down. I spend £150-£170 a month for 2 adults and 1 child. Id also budget a little for presents/entertainment, say £5/£10 a month as when you dont budget for these things its a pain trying to find the money on someones birthday etc!
Good luck. 'They only had one cow!'0 -
Single person for me is £85 a month on groceries and I buy a lot of crap as it is. You can at least half the groceries.
Sky you don't need. Watch everything on freeview or the interweb.
Also your telephone can be cut down I suspect. You can get decent broadband and landline for £15-£20 but I suspect you've got a whole sky package?0 -
Hi Carole. Could you move back in with your parents for a while to cut expenses? Or could you get a part time job to bump up your income, allowing you to pay more off your debt?"I believe that everything happens for a reason. People change so that you can learn to let go, things go wrong so that you appreciate them when they're right, you believe lies so you eventually learn to trust no one but yourself, and sometimes good things fall apart so better things can fall together." Marilyn Monroe0
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Hi - and good luck
It can be done, I am in a similar position and know how you are feeling. Facing up to it is the hardest thing, but it does get better once you are back in control :rolleyes:
Good advice about cutting food shopping, Sky and phone bill. Your energy billd look a bit high too. I pay £40 per month for electric in a 2 bed flat - and I have no gas!Sometimes it's hard to walk in a single woman's shoes - that's why we need really special ones!Total debt @ Oct 2008: £29,226.42 Credit Card- £[STRIKE]7493.56[/STRIKE] - £7243.56Weightloss : 0/34lbs0 -
Your phone costs are huge for one person, you need to ditch either the land line or mobile.
I would also be looking at what I bought on those cards and see if there is anything you can sell.
When clearing the cards pay off mininum payments against all but the one with the highest APR, thats the one to clear 1st. Check you are on the best deals for utilities and if not switch via a cash back website. Best of luckFind out who you are and do that on purpose (thanks to Owain Wyn Jones quoting Dolly Parton)0 -
Hi Carole!
I just wanted to send you a hug and let you know that most of us have been in your position and we have swung our lives around so that we are able to sleep at night and open our post:p
Like others have said, you need to get in contact with CCCS or Payplan and they will take the burden of contacting creditors on your behalf and deal directly with them if you would like that?
I did notice that you spend £200pm on groceries. This is quite alot for 1 person but I guess you have got into bad habits as we all have done in the past and buy ready-made, pre-packed food or take-aways? I am normally in the OldStyle part of this website and post a wekly mealplan thread where we list our meals for the week to keep focused and costs down but eat healthily. We would love you to join us.
Chin up girl.
PP
xxTo repeat what others have said, requires education, to challenge it,requires brains!FEB GC/DIESEL £200/4 WEEKS0 -
As another poster said, your groceries can be cut. The maximum I spend is £70pm as a single person and I don't go without and can still have treats.
I do batch cook and freeze and also take my own lunch at work even though we have a subsidised restaurant, it's still cheaper to take my own.
Also, keep a spending diary. I have a Costa Coffee bar at work which I was addicted to, when you add up the cost of a coffee or two a day, it amounts to quite a lot especially when we have free stuff at work, which is pretty vile, but free!Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140 -
hi you can cut costs easily here.
challenge yourself to £100 for groceries and batch cook and freeze! why is your pet insurance so high? mobie phone - are you PAYG?? XXXO/S Debt: PL £[STRIKE]15207.34[/STRIKE] £9884.55; HSBC £4060.99; Tesco£1430.15; M&S £5990.17; Virgin [STRIKE]£5158.69[/STRIKE] £4210.14; Egg £4619.00; O/S = ££30,292.42 AIM - To Be Debt Free 56 months0
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