SOA - trying to get head out of the sand.....

Pippilongstocking

or am I just being very thick?

Gemmzie

I'd set it up as a proper legal agreement, I believe that's fairly simple to do. I think (not 100% though) that he needs to draft a letter with the terms and you both sign in front of a solicitor.

Pippilongstocking

Statement of Affairs and Personal Balance Sheet
My new SOA - cut things as per advice, had a hard look at other things as well and have taken a p/t job only temporary but if it finishes I might actually find another one, or concentrate some effort on ebaying my plants as I can grow things
Did the credit shuffle thingmy - have 2 0% student o'd's so paid two credit cards off with these, using cards now for shopping etc
Figure if i keep my purchases down the o'd should slowly diminish

Check bank everyday twice, and have found outUnlike scary monster under the bed it doesnt bite
I actually know what I have/havent spent and wrote down when things come off so this month no bank charges
Partner will 'lease' car and pay my RBS loan (£160) leaving me to put more money into Mr Egg card
Ebayed enough money to contribute to daughters savings and she now has a Wii that didnt cost me anything but ebay stuff
Wierdly enjoying the feeling of trying to sort it all out so thank you very much indeed to all you lovely folk
Like posting what I will and won't do everyday as a good motivation to love and hugs to you all

Monthly Income Details
Monthly income after tax................ 1078 (+part time job now as well temporarily but giving me an extra 400 a month for 2 months)
Partners monthly income after tax....... 0
Benefits................................ 740
Other income............................ 340
Total monthly income.................... 2158
Monthly Expense Details
Rent.................................... 600
Council tax............................. 0
Electricity............................. 50
Oil..................................... 120
Telephone (land line)................... 16
Mobile phone............................ 25
TV Licence.............................. 11
Satellite/Cable TV...................... 16
Internet Services....................... 20
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 75
Road tax................................ 30
Car Insurance........................... 20
Car maintenance (including MOT)......... 50
Other child related expenses............ 75
Medical (prescriptions, dentist etc).... 15
Contents insurance...................... 10
Presents (birthday, christmas etc)...... 40
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1393

Assets
Car(s).................................. 3500
Total Assets............................ 3500[/b]

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Egg card.......................3288......100.......26.9
Barclay card...................3580......50........0
RBS Loan.......................3783......160.......0
Student loan...................14500.....0.........0
LLoyds loan....................2393......105.......0
Total unsecured debts..........27544.....415.......-

Monthly Budget Summary
Total monthly income.................... 2,158
Expenses (including secured debts)....... 1,393
Available for debt repayments........... 765
Monthly UNsecured debt repayments....... 415
Surplus(deficit if negative)............ 350

Total Unsecured debt.................... -27,544
Net Assets.............................. -24,044

And I so know there is room for improvement..........any ideas gladly welcomedxxxx

msmicawber

Hi and well done for paying off 2 CCs already.

On reading through the various posts, it occurred to me that unless your brother is also a full-time student, he needs to pay Council Tax, though should receive the 25% single adult discount. If you get lodgers in, then full Council Tax will have to be paid. Sorry to bring this up, but I'd hate you to get in trouble.

Pippilongstocking

Thanks so much - I had a lightbulb moment about that earlier regarding council tax - bit of a doh moment, cc have just moved them to interest free debt.

Currently renegotiating with him, he likes cake tho' so I figure that if i lessen the blow with cake then he will be great with it!!!!

lynzpower

can I just give you one of these :T as it seems like you are doing really really well :T :T

Pippilongstocking

Now if I can achieve this then there's hope for anyone - I was rubbish with money spending well over my earnings.
Just over one year on I just wanted to thank you all for your help - I took your advice (mostly!) - got two lodgers in do a seond job now and again - and I send all of my spare income to overpaying debts! I got stardrops - I meal plan and quidco etc I have had so much lovely help from you folks here.. (And the lovely folks on my diary - I got a bit down today so wanted to hunt through and find my original SOA to tell myself to get on with paying off even more asap). Brother moved out and 2 lodgers moved in.

I just wanted to thank so many of you for your help and say - woo hoo a year in and its just so amazing how much can be learned from this site!!!!!!!!!!

And of course anything that looks insanely high please comment on!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2 (+ various kids chums always here )
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1134
Partners monthly income after tax....... 0
Benefits................................ 610
Other income............................ 910 (lodgers, dog walking and occasional other monthly contract work)
Total monthly income.................... 2654

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Maintenance (cleaner etc).. 120
Council tax............................. 0
Electricity............................. 85
Coal..................................... 30
Oil..................................... 100
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 60 (losing one contract soon so this will be £19 soon)
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 50
Road tax................................ 30
Car Insurance........................... 30
Car maintenance (including MOT)......... 100
Car parking............................. 0
Other travel............................ 100 (we live on an island and now budget for trips south i try and tie this in with work but it doesn't always happen but now I really try and get a work/planned trip away where we can.)
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 50
Total monthly expenses.................. 1719


Assets
Cash.................................... 440
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3500
Other assets............................ 0
Total Assets............................ 3940

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
penguin chops..................2745......50........0
lloyds loan....................1245......100.......4
first credit...................2800......50........0
captial one....................0.........0.........29
lloyds cc......................778.......50........14
lloyds od......................560.......50........15
rbs od.........................1000......0.........0
student loan...................13776.....0.........0
Total unsecured debts..........22904.....300.......-


Monthly Budget Summary
Total monthly income.................... 2,654
Expenses (including HP & secured debts). 1,719
Available for debt repayments........... 935
Monthly UNsecured debt repayments....... 300
Amount left after debt repayments....... 635

Personal Balance Sheet Summary
Total assets (things you own)........... 3,940
Total HP & Secured debt................. -0
Total Unsecured debt.................... -22,904
Net Assets.............................. -18,964

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

To you all a huge thank you!!!!