Have a gawp at my soa please

marklunn3602

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 0
Benefits................................ 70 Child tax?
Other income............................ 0
Total monthly income.................... 970

Monthly Expense Details
Mortgage................................ 404
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 44
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 11
Telephone (land line)................... 15
Mobile phone............................ 30
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 60
Road tax................................ 14 Car is in OH name
Car Insurance........................... 16
Car maintenance (including MOT)......... 35
Car parking............................. 75
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30 Contact lenses
Pet insurance/vet bills................. 0
Buildings insurance..................... 8
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1203

Assets
Cash.................................... 0
House value (Gross)..................... 128000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 128000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 128000...(404)......0
Total secured debts........... 128000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
hsbc overdraft.................600.......20........0
hsbc loan 1....................5331......120.......0
hsbc loan 2....................1179......100.......0
curry's finance................983.......0.........0
next catologue.................558.......50........0
black horse loan...............7244......100.......0
credit card....................5503......80........0
Total unsecured debts..........21398.....470.......-
Monthly Budget Summary
Total monthly income.................... 970
Expenses (including secured debts)....... 1,203
Available for debt repayments........... -233
Monthly UNsecured debt repayments....... 470
Surplus(deficit if negative)............ -703

Personal Balance Sheet Summary
Total assets (things you own)........... 128,000
Total Secured debt...................... -128,000
Total Unsecured debt.................... -21,398
Net Assets.............................. -21,398

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.This is the first time I've posted the soa so please be patient with me.This soa is for the OH as she's the one going BR.The house is joint names but in negative equity.We have a car each but both are in my name and have never been in OH name and for now we need one each due to working shifts, school etc..All bills and mortgage have always come out of my salary up to now but I've done this soa to show OH as paying half towards bills, shopping & mortgage. Hope this makes sense. Mark

Rylynn

Your tax credits look mighty low, where is the child benefit you have not put any, it has to be listed on the SOA, will be back shortly to look again but those two jumped out on initial looking.

Do you not get working tax and child tax credits? is it low due to overpayment?

marklunn3602

Rylnn

Thats the only one I'm stuck as I cant remember. I'll have to ask OH when she's home from work.

Mark

Rylynn

Okay how many children do you have if it is one then I think the child benefit will be £81.46 per month, correct me anyone if that is not right but it is what I have on my form. You get £18.80 per week for the eldest child, and I think it is £12 something for any others each! Only have one now at home so on mine it is rounded up to £82.

Looking at the take home pay I would be surprised if you do not get child tax credits, you may not get working tax credits I think there is a threshold of gross pay minus any pension and not sure what it is, I know I get it now and did not before when working full time, now only part time so I qualify due to wage drop.

Although 900 take home may mean you do recieve it.

Your electric, gas and council tax and water rates are extremely low are the correct? TV licence should be £12 as you round it up not down! it is only a matter of pence.

How many are you feeding?

Who is going bankrupt here your OH?

peachyprice

Mark, are the figures above half of everything?
You need to put the whole household bills, and your OH's own expenses and you need to put your contribution to the household, not your whole salary, which should be roughly half the householod bills.

Rylynn

I did wonder peachy if it was half of everything, as it looks way too low on some of it.

marklunn3602

Hi guys

I thought it may confuse you!

This soa is for the OH only and doesn't include any of my income.
All of the bills, food and mortgage shown on the soa are half of the the actual price as I pay the rest. Half & half.
All of the expenses to do with the car are the full expense as its the OH's own car though the HP for it is in my name.

Confused ? Me too!

Mark

marklunn3602

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 0
Benefits................................ 82 Child benefits. Still need to confirm with OH.
Other income............................ 724
Total monthly income.................... 1706

Monthly Expense Details
Mortgage................................ 808
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 35
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 60
Road tax................................ 12
Car Insurance........................... 30
Car maintenance (including MOT)......... 35
Car parking............................. 75
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 23
Buildings insurance..................... 16
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1972

Assets
Cash.................................... 0
House value (Gross)..................... 128000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 128000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 128000...(808)......0
Total secured debts........... 128000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
hsbc overdraft.................600.......20........0
hsbc loan 1....................5331......120.......0
hsbc loan 2....................1179......100.......0
curry's finance................983.......0.........0
next catologue.................558.......50........0
black horse loan...............7244......100.......0
credit card....................5503......80........0
Total unsecured debts..........21398.....470.......-

Monthly Budget Summary
Total monthly income.................... 1,706
Expenses (including secured debts)....... 1,972
Available for debt repayments........... -266
Monthly UNsecured debt repayments....... 470
Surplus(deficit if negative)............ -736[/b]

Personal Balance Sheet Summary
Total assets (things you own)........... 128,000
Total Secured debt...................... -128,000
Total Unsecured debt.................... -21,398
Net Assets.............................. -21,398

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.Okay heres the second draft. This time I've shown the full amount for bills, mortgage, food etc and also shown my contribution to the bils, mortgage etc in the 'other income' box.This is based on two adults, 1 child and one pooch.

Dorothy56

Hope this helps a bit...


Monthly income after tax................ 900
Partners monthly income after tax....... 0
Benefits................................ 82 Child benefits. Still need to confirm with OH.
Other income............................ 724
Total monthly income.................... 1706

Monthly Expense Details
Mortgage................................ 808
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 35
Mobile phone............................ 30 Lump this in with landline
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 400 Up to 450
Clothing................................ 50 Is this just for OH and 1 child? Increase to 75
Petrol/diesel........................... 60
Road tax................................ 12
Car Insurance........................... 30
Car maintenance (including MOT)......... 35
Car parking............................. 75 this might be queried as so high
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 23
Buildings insurance..................... 16
Contents insurance...................... 0 you should have contents insurance
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 not allowed by OR
Haircuts................................ 40 25 10 per adult 5 per child
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1972

Also add childrens activities at 10 per week per child

Someone else will be along soon and may add more

Rylynn

Can I ask what is the other income? at 750?

So you have done this based on half of everything which means I take it that you have not put in the amount you contribute.

Not sure but I think I read here that the SOA has to be the full bills, and then what the OH gives IE you give up. Does that make sense?

marklunn3602

Hi Lynn

The other income of £750 is my contribution to the bills. (this is soa for OH)

I've shown all bills at full amount.

Does that make sense and make it look about right?

Mark