SOA Expenditure

Lisa55_2

Hi,

Following CAB and Insolvancy helpline advised that BC is best option, I am completing the SOA._pale_

Please could you let me know what you think of the expeniture information . I live alone and earn £1130 per month and on top of expenses, currently paying £510 per month on £11,000 + £9,000 unsecure bank loans.

rent 347
housekeeping 300
travel 100
clothes 30
phone 40
Haircut 6
woman's only gym - student rate 40
uni stationary and books 10
course fees 50
family bd and xmas gifts 10
modest holiday 25
medicine/dentist/opticians 10
tv license 11
Total 979

I started to get into debt when I was 18 with credit cards and paid them off with a loan and then spent more on credit cards, living beyond my means, I was young and careless. Then after a few years I had to borrow more to pay for everyday expenses as repayments so high. Been paying it back and not borrowed any more for a couple of years since I got married as husband paid rent etc. (but now seperated )

Its been 8 years since the first credit card, If anyone's been in a simular situation - how was the OR interview?

Thank you

fiveyearplan

Hi and welcome! I'm not sure if housekeeping is too high and gym membership won't be allowed. What about water, gas, electric and council tax. Are any of the debts student loan?

Lisa55_2

Hi,

Thanks for your comments, I wasn't sure about the gym.

I didn't take a student loan, my family helped me pay the uni fees (around £1,000 per year) and I worked while I studied.

Water, electric, gas, c. tax is all included in the rent.

fiveyearplan

I would also change the b/day Christmas to personal expenses. Is the 1,130 per month after tax or before?

Lisa55_2

Thanks, £1,130 after tax etc

dalip

Lisa55 wrote: »

Hi,

Following CAB and Insolvancy helpline advised that BC is best option, I am completing the SOA._pale_

Please could you let me know what you think of the expeniture information . I live alone and earn £1130 per month and on top of expenses, currently paying £510 per month on £11,000 + £9,000 unsecure bank loans.

rent 347
housekeeping 300max £165
travel 100
clothes 30maybe up this to £40
phone 40
Haircut 6£10
woman's only gym - student rate 40not allowed
uni stationary and books 10maybe up this to £20
course fees 50
family bd and xmas gifts 10
modest holiday 25
medicine/dentist/opticians 10make ths £30
tv license 11
Total 979

I started to get into debt when I was 18 with credit cards and paid them off with a loan and then spent more on credit cards, living beyond my means, I was young and careless. Then after a few years I had to borrow more to pay for everyday expenses as repayments so high. Been paying it back and not borrowed any more for a couple of years since I got married as husband paid rent etc. (but now seperated )

Its been 8 years since the first credit card, If anyone's been in a simular situation - how was the OR interview?

Thank you

house insurance,dry cleaning,internet(if needed for uni)sorry can not think of anything else.D

blueopal5577

pets? any equipment or placements ull need on your course? Worth budgeting for all possible expenses in advance since ur so close to the £99 threshold.

I think you could depending on ur course up the books expenditure. From my experience all it takes is a new reading list for your bank balance to take a thrashing.

Housekeeping definately needs to come down and they may challenge your travel, might be worth exploring all cheaper options so you've got a reply if they (and they probably wont) ask.

Emergency fund incase something breaks or when you cant work over exam times? Depends on your course.

Hmmm my mind is blank. Watching Big Brother contestants in a chilli eating competition has killed off brain cells, but still im laughing lol

Waspeze

If it helps.. my final (accepted) one is on post 29 on this thread.. it's for one person.

Might be able to use it as a bit of a guideline if you get stuck (though every OR is different and accepts different amounts so only use it as a guideline not "gospel")

Also remember that a lot of things have gone up in price since I went BR so some of the amounts could possibly be increased!

http://forums.moneysavingexpert.com/showthread.html?t=833285&page=2

NekoZombie

Are you sure that as a full time student you need to pay medical costs - unless its changed there is a form that you fill in to get all your healthcare for free. An adviser at your uni should be able to tell you about it...

scootw1

i was allowed £110 for travel and £220 for housekeeping for a single person.

fiveyearplan

There shouldn't be any maximum for travel, if thats what it costs, thats what it costs. Remember, you may really need to add the utilites to keep your excess down.