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  • FIRST POST
    • seldom_use
    • By seldom_use 3rd Jan 18, 10:24 PM
    • 22Posts
    • 2Thanks
    seldom_use
    SoF - any advice
    • #1
    • 3rd Jan 18, 10:24 PM
    SoF - any advice 3rd Jan 18 at 10:24 PM
    Hi guys,

    I have finally began to face up to my massive debt problems, after burying my head in the sand for years and years. As you can see from my SoF, we currently don't have enough coming in. I have recently applied for housing benefit which would be a big help at the moment. I have just finished maternity leave, so my maternity pay has just stopped. I am not returning to work as I am a full time student now. My partner works part time.

    As well as this, we have a huge amount of debt, probably around 15k. Most importantly we have council tax arrears which I have began to sort out. My partner is keen to try and deal with it ourselves, however I am starting to think this may not be possible. Any advice would be much appreciated.

    Thanks in advance,

    seldom_use



    Statement of Affairs and Personal Balance Sheet

    Monthly Income Details
    Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 960.00
    Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
    State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 260.00
    Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00
    Student Loan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520.00

    Monthly Expense Details

    In Your Home

    Mobile phones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120.00
    TV licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
    Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Home phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    Cleaning products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Garden maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Household maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70.00
    Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80.00
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Council tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.00
    Overdraft cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Bank account fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.50
    Home insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 650.00
    Plumbing/Boiler cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage payment protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Food and household shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 400.00
    Drinks for home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Baby Milk & Nappies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70.00

    Motoring & Public Transport

    Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80.00
    Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    Car tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.25
    Car insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00
    Car maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Rail/Buses/Taxis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Breakdown cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Debt Repayments

    Credit card repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Hire purchase repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Personal loan repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car loan repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Savings & Investments

    Pension payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Buying shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cash ISAs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Lump sum saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Regular saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Family

    Pet food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.00
    School trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80.00
    Pocket money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.00
    Nappies/Baby extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Laundry/Dry cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Children's travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Baby-sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Childcare/Playgroups. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pet insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.50
    Travel insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Entertainment

    Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.00
    Family days out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Cinema/Theatre trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Big days out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Shopping for fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00
    Pet costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    IT/Computing (antivirus, etc) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    DVD rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Drinking out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Eating out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00

    Clothes, Health & Beauty

    Complementary therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Optical bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Beauty treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Healthcare cash plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Dental insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private medical insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Work clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    New children's clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    New clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00

    Education & Courses

    University tuition fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Your courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Big One-Offs

    Funeral expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Wedding expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Winter holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Summer holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83.33

    Odds & Sods

    Newspapers and magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
    Regular charity donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33


    Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,890.00


    Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,491.25


Page 2
    • Bedsit Bob
    • By Bedsit Bob 4th Jan 18, 8:54 PM
    • 9,920 Posts
    • 51,984 Thanks
    Bedsit Bob
    Your partner is working almost 1/4 of the year (2.75 months to be exact), just to pay for your Mobile phones, Internet, Home phone and Pay TV.

    You need to cut this back A LOT.

    Also, the TV Licence is £12-25 per month, not £8-33.
    Last edited by Bedsit Bob; 04-01-2018 at 8:57 PM.
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - £1161
    • Bedsit Bob
    • By Bedsit Bob 4th Jan 18, 8:59 PM
    • 9,920 Posts
    • 51,984 Thanks
    Bedsit Bob
    That's a great car tax!
    Originally posted by vickthestick
    Actually it's not that unusual.

    Mine's only £30 per year.
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - £1161
    • seldom_use
    • By seldom_use 4th Jan 18, 10:45 PM
    • 22 Posts
    • 2 Thanks
    seldom_use
    Thanks so much guys, I really appreciate this.

    So a bit more on our situation. My partner is a college lecturer, he has just recently been given permenancy, which he’s been holding out for 3/4 years to get. It’s a great job, but all about sticking it out until the decent hours become available and you’re made permanent. His hours fluctuate depending on the block, and at the moment he is part time which is less than ideal.

    I have been studying since August whilst on maternity leave to make a change in career. If I go back to work full time then childcare costs will eat up a lot of my just over minimum wage job. At the moment, childcare is funded on the days my partner works by my college.

    My car and car maintenance is all paid for and taken care of by my father who owns a car garage. The only expense for me is tax and insurance.

    So I have checked out the mobile phones and the next one isn’t up until June this year, but we will definitely switch to sim only when they all run out. We have started doing packed lunches and meal planning too. I’m not convinced that it will be enough, especially now that my maternity pay has stopped and the debts are so large.

    I am waiting on a pack coming out from StepChange.
    Last edited by seldom_use; 04-01-2018 at 10:47 PM.
    • seldom_use
    • By seldom_use 4th Jan 18, 10:52 PM
    • 22 Posts
    • 2 Thanks
    seldom_use
    Again in regards to our tv package, I agree it is ridiculous and is hugely underused actually. However we’re in contract with it also, I will contact sky tomorrow to try and reduce the package and explain the situation. As someone said previously, all we can do is ask.

    I should reiterate that we have buried our heads in the sand for a long, long time, we’ve lived way beyond our means because sometimes depending on the hours my partner had, we had more money, sometimes we had less. It has been a very immature way to act, and now I really am starting to see that there is a way out of it and that we can start doing things properly. We’ve got used to living a certain way, ie, popping to the shops when we needed to rather than doing a big shop, having a takeaway when we felt like it. We both understand that it does need to stop.

    Again, I really do appreciate your help and advice. Thankyou.
    • theoretica
    • By theoretica 4th Jan 18, 10:54 PM
    • 4,993 Posts
    • 6,248 Thanks
    theoretica
    Can your partner find tutoring work to fill in to the equivalent of a full time job? Worth looking if he could do exam marking too.
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
    • seldom_use
    • By seldom_use 4th Jan 18, 11:04 PM
    • 22 Posts
    • 2 Thanks
    seldom_use
    Can your partner find tutoring work to fill in to the equivalent of a full time job? Worth looking if he could do exam marking too.
    Originally posted by theoretica
    Great idea. Unfortunately he is a photography lecturer so tutoring probably wouldn’t work, however he has been thinking about photographing privately to make up the deficit this year. (Weddings etc.) His mental health and physical health are not great at the moment, so I’m trying not to push him too hard, but this would be ideal if he was able to bring in a bit extra.
    Last edited by seldom_use; 04-01-2018 at 11:08 PM.
    • vickthestick
    • By vickthestick 5th Jan 18, 9:25 AM
    • 196 Posts
    • 1,494 Thanks
    vickthestick
    Actually it's not that unusual.

    Mine's only £30 per year.
    Originally posted by Bedsit Bob
    Wow. I guess because we have two really old vehicles, one of which is a diesel van, we are paying a lot for this!
    Womble #9 2018 £0 / Roadkill £0
    Loan £175.40 /month until October 2018 Loan £312.21 /month until April 2025
    • nkkingston
    • By nkkingston 5th Jan 18, 11:13 AM
    • 454 Posts
    • 520 Thanks
    nkkingston
    Great idea. Unfortunately he is a photography lecturer so tutoring probably wouldn’t work, however he has been thinking about photographing privately to make up the deficit this year. (Weddings etc.) His mental health and physical health are not great at the moment, so I’m trying not to push him too hard, but this would be ideal if he was able to bring in a bit extra.
    Originally posted by seldom_use
    Just a word of warning - weddings are hard to break into, and require 15+ hours on your feet, plus many, many hours editing afterwards. If he wants to do weddings he should look for an established photographer and sask if they'll take him on as a second shooter (so if you've got one photographer with the bride getting ready, the other does the groom, and when one's doing portraits the other's getting pictures of the other guests mingling, etc).

    He might find family photos easier to manage, but you need a space to do that in, either employed by a studio or kitting out somewhere in your home for it.

    Has he considered taking stock photos? That's lower impact and more flexible, and though there's not a lot of money in any single shot, a good portfolio on one of the stock websites means there's a steady trickle coming in. Someone's got to provide fresh new images of women laughing at salad, after all!

    Having said all that, I bet there is a demand out there for a photography tutor. We're off to scandinavia on honeymoon next month, and honestly, I'd consider paying for one! Has he looked into local evening schools and U3A? Especially if he can teach techniques that are hard to teach yourself, like low lighting and night photography.
    Mortgage
    June 2016: £93,295
    December 2017: £79,667.26
    • seldom_use
    • By seldom_use 5th Jan 18, 1:10 PM
    • 22 Posts
    • 2 Thanks
    seldom_use
    He has done wedding photography in the past, and would pay one of his students to be second shooter. He stopped doing weddings a couple of years ago to focus on lecturing, because as you say it’s very hard work.

    I will mention to him about tutoring, we’ve never considered that there may be a demand for this.

    Thanks
    • seldom_use
    • By seldom_use 5th Jan 18, 1:11 PM
    • 22 Posts
    • 2 Thanks
    seldom_use
    Wow. I guess because we have two really old vehicles, one of which is a diesel van, we are paying a lot for this!
    Originally posted by vickthestick

    Hi there, not sure if this is a dig at our car. It is a 2016 plate so yes, relatively new. The car was gifted to me from my father to ensure I wasn’t paying out for a car every month, so it took some pressure off.
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