SOA Help Please

Hi

Call a family meeting and discuss the lack of income / bills to pay / food to buy etc.

You really need to get them on side and get your family income up.

Mean while can you rent a room out?
Cut your food budget

Can you switch your broadband? There are providers offering packages for around £25.00, which I know is only £10 a month but every little helps.

catandy wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 423
Management charge (leasehold property).. 0
Council tax............................. 88 Is this paid over 12 months?
Electricity............................. 120 This is extortionate. You need to really get a handle on this - those who are at home and not contributing need to learn that jumpers get put on - several of them if needed - or you go out for a walk rather than turning the heating up another notch. To put into context, this is four times what we pay for electricity.
Gas..................................... 0
Oil..................................... 0
Water rates............................. 44
Telephone (land line)................... 0
Mobile phone............................ 55 In your situation, this is high - how many phones?
TV Licence.............................. 25 Why so much? Should be 12.12 per month? Are you paying upfront to get onto a monthly plan? If so find out when you revert to regular payments
Satellite/Cable TV...................... 0
Internet Services....................... 35
Groceries etc. ......................... 300 high - too high in your situation. Think Aldi, Lidl etc. charge OH with shopping and working to a list, and also searching out the bargains - and think of using things like the Super 6 and Pick of the Week offers to bring down food bills by making your meals based around what is cheapest.
Clothing................................ 0
Petrol/diesel........................... 160 Read Martin;'s "driving economically" guide on the main site. I assume that this is for a work commute - have you checked that it can't be done cheaper using public transport?
Road tax................................ 33 This is very high - and are you actually paying it on a monthly basis?
Car Insurance........................... 35
Car maintenance (including MOT)......... 0 How do you pay for servicing etc? By the look of your fuel spend you do quite high mileage so guessing you need at least one service a year if not more? You'll be relatively heavy on tyres etc too.
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...................... 0 You MUST get this sorted - it won't cost much, but it really is an essential.
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1318

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
all debt on dmp ...............25100.....10........0
Total unsecured debts..........25100.....10........-

Monthly Budget Summary
Total monthly income.................... 1,200
Expenses (including HP & secured debts). 1,318
Available for debt repayments........... -118
Monthly UNsecured debt repayments....... 10
Amount short for making debt repayments. -128
Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -25,100


I live with OH and grown up son - son works but only pt and doesn't pay board or keep as his earnings are so low. OH doesn't work and doesn't really look for work - he's 57 and not in the best of health and its become a habit for him to do nothing. You know he needs to break that habit, right? There will be something he can do, and bluntly, he needs to understand that the current situation is not sustainable. As for your Son, time to tell him that life is changing and he needs to start contributing. Is his working part time a choice thing, or is he working to fund himself through college or similar? If the former, you might try setting his household contributions at a higher rate than if the latter - but either way he MUST contribute something. Plus, if he's contributing, it may help shame OH into getting off his butt...


I find myself borrowing from peter to pay Paul and juggling things around all the time. Car is a necessity I'm moving jobs and having to travel 30 miles each way with a commute on public transport of 2 hours each way... originally got in debt propping up partners business which I eventually pulled a halt to, but only after getting in so deep. Noted on the commute - how long does it take by car? Is it appreciably quicker than public transport? the issue is that with over 10% of your income going on commuting, and 50% of the rest going on rent, your current budget just isn't sustainable.


doing a self managed dmp and not really making any headway at all.


suggestions please and please be gentle, im at my wits end with all of this. yes OH needs to work and son needs to find a better paid job but short of kicking them out and destroying my family I cant see what else to do in the short term


thank you in advance

That's one tough situation you're in. I think as someone else has said though - family meeting is the first thing. Try to line up lots of open questions to the other two - "how do you think we can go about fixing this situation?" and "What can you personally do to help us get back on a financial even keel again?" - one way or the other they BOTH need to start putting something into the coffers each month though - maybe it might help stir your OH up if your son starts contributing - and maybe if he was a bit more active your OH's health might be better?