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PLEASE HELP ME! see my SOA
katie4
Posts: 459 Forumite
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 880
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 880
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 1750
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 40
Car maintenance (including MOT)......... 163
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2293
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 9000
Other assets............................ 0
Total Assets............................ 9000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 0........(1750).....0
Total secured debts........... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 880
Expenses (including secured debts)....... 2,293
Available for debt repayments........... -1,413
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -1,413
Personal Balance Sheet Summary
Total assets (things you own)........... 9,000
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 9,000
Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
e.g. the number of adults & children in the household, the number
of cars included in the SOA or anything else that may be useful.
Monthly Income Details
Monthly income after tax................ 880
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 880
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 1750
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 40
Car maintenance (including MOT)......... 163
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2293
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 9000
Other assets............................ 0
Total Assets............................ 9000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 0........(1750).....0
Total secured debts........... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 880
Expenses (including secured debts)....... 2,293
Available for debt repayments........... -1,413
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -1,413
Personal Balance Sheet Summary
Total assets (things you own)........... 9,000
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 9,000
Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
e.g. the number of adults & children in the household, the number
of cars included in the SOA or anything else that may be useful.
0
Comments
-
Well I can see some ommissions - nothing paid for groceries or road tax. Nothing for council tax, water rates or bills for electricity etc.
Your mobile phone bill is £100 which is way too high, I would suggest that you switch to pay as you go.
I would be inclined to ditch the pet insurance as well as money for presents - you can't afford them. Also you need to stop buying clothes - you can't afford them.
Have a clear out of your wardrobe and sell unwanted items in ebay or at a carboot.
Keep a spending diary so that you know where you are frittering your money away. You are spending more on loan repayments than you have coming in - so how about getting yourself a second job?0 -
Hi Katie. Glad to see you have done your SOA. Right lets have a look:
Monthly Income Details
Monthly income after tax................ 880
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 880
can you get any benefits? single person council tax? etc. check entitledto.com
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 1750 this is huge is this correct?
Rent.................................... 100 this is cheap what's the deal here?
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100 this is way too high. Work out it a landline would be cheaper, if not you need to get yourself on a better contract.
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0 no food?
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 40
Car maintenance (including MOT)......... 163
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2293
The main things seem to be the lack of food ,entertainment, the mobile bill and the secured loans.
It would help to know what your domestic situation is ie do you live alone? can you get a lodger/housemate? how come you have secured loans but only rent? etc.
Making my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0 -
You've put the total amount of the loan in to the monthly figures. You need to just alter that and have a quick check of the other amounts too.£2 Coins Savings Club 2012 is £4
.............................NCFC member No: 00005.........
......................................................................TCNC member No: 00008
NPFM 210 -
Sorry i have just realised that my loan repayment is the total to be paid not how much i pay monthly, and i still live with my parents which is why i dont pay water rates/electric etc0
-
Are they secured loans? ie if you don't pay you loose you house? this would be if you had a mortgage for instance?Making my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0 -
Cool. So they are normal loans I presume - they are not secured on your parents house? Do you pay for any food or anything like that?
If you could go back and edit your first post that would help.Making my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0 -
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 880
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 880
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 1750
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100 - HOW MUCH???? You can definately cut this
TV Licence.............................. 0 - haven't you got a TV?
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0 - you should have something in here...
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 40
Car maintenance (including MOT)......... 163 - this seems very high, are you saying you pay nearly £2K per year?
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2293
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 9000
Other assets............................ 0
Total Assets............................ 9000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 0........(1750).....0
Total secured debts........... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 880
Expenses (including secured debts)....... 2,293
Available for debt repayments........... -1,413
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -1,413
Personal Balance Sheet Summary
Total assets (things you own)........... 9,000
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 9,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
e.g. the number of adults & children in the household, the number
of cars included in the SOA or anything else that may be useful.
Edited as I've just noticed you've updated your secured loan info!
0 -
I expect Beanie was still looking through it and typing while you made the above comments. This thread is moving quite fast.Making my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0 -
The car maintenance is actually how much finance i pay for my car each month, AND I SAID PREVIOUSLY I LIVE WITH MY PARENTS I PAY THEM £100 A MONTH FOR ALL FOOD ETC0
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