My SOA.....

ineedhelp2008

Further to my 'In a mess' post, my SOA is below.......

I'm now going to throw up again I think but feel free to pick away.......please help me So many minuses

Monthly income after tax................ 1015
Partners monthly income after tax....... 826
Benefits................................ 115
Other income............................0
Total monthly income.................... 1956

I can't get a second job as much as i'd like to as husband's job is nights so I have to be home for our son.

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 441
Management charge (leasehold property).. 0
Council tax............................. 83
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 39.83
Telephone (land line)................... 15
Mobile phone............................ 50 (this varies slightly and is for two contract phones) My contract runs out in January and I will be cancelling so will be for around £30.00 a month then)
TV Licence.............................. 11.95
Satellite/Cable TV...................... 22
Internet Services....................... 15 (essential for my work)
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 240 (both me and husband work over 20 miles away from home)
Road tax................................ 31.17 (one car, one van, tax for both multiplied by 12)
Car Insurance........................... 56 (one car, one van)
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 100
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 16.55
Life assurance ......................... 16.69 (cover for both me and husband)
Other insurance......................... 22.98 (13.99 appliance cover, 8.99 laptop insurance) (will be asking husband to consider cancelling these)
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Child Maintenance....................... 140 (essential, unless husband wants the CSA on his tail!)
Total monthly expenses.................. 1576.17

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 10000 (one car, one van, both essential)
Other assets............................ 0
Total Assets............................ 10000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Loan 1.........................?.........489.......0 (until 2010)
Loan 2.........................?.........289.......0 (until 2010)
Loan 3.........................300.......100.......0 (finishes January)
Catalogue......................220.......20........0
Credit Card 2..................5805......130.......0
Credit Card 1..................9698......298.......0
Total unsecured debts..........

Monthly Budget Summary
Total monthly income.................... 1,956
Expenses (including secured debts)....... 1,586.17
Available for debt repayments........... 369.83
Monthly UNsecured debt repayments....... 1,326
Surplus(deficit if negative)............ -956.17

Personal Balance Sheet Summary
Total assets (things you own)........... 10,000
Total Secured debt...................... -0
Total Unsecured debt.................... -16,023
Net Assets.............................. -6,023

There are two adults, one child and a cat in the household.

MissKJ

Well done for pulling it all together.

I think your deficit is too great to handle on your own.You need professional help. Ring cccs or payplan tomorrow and talk it through. I think you should be on a debt management plan and have your creditors take reduced offers. You will find that they allow more for your living costs than you are allowing yourself, so life would be a bit easier until things improve.Sorry if that isnt what you want to hear hun?

ajaney

ineedhelp2008 wrote: »

Further to my 'In a mess' post, my SOA is below.......

I'm now going to throw up again I think but feel free to pick away.......please help me So many minuses

Monthly income after tax................ 1015
Partners monthly income after tax....... 826
Benefits................................ 115
Other income............................0
Total monthly income.................... 1956

I can't get a second job as much as i'd like to as husband's job is nights so I have to be home for our son.

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 441
Management charge (leasehold property).. 0
Council tax............................. 83
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 39.83 Is this fixed? Going on a meter may save you money
Telephone (land line)................... 15
Mobile phone............................ 50 (this varies slightly and is for two contract phones) My contract runs out in January and I will be cancelling so will be for around £30.00 a month then)
TV Licence.............................. 11.95
Satellite/Cable TV...................... 22
Internet Services....................... 15 (essential for my work) Theres lots of pacakges availble to combine telephone/satellite/Internet, especially if you have access to cable. Otherwise cancel Sky & use the equipment to receive freeview.
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 240 (both me and husband work over 20 miles away from home)
Road tax................................ 31.17 (one car, one van, tax for both multiplied by 12)
Car Insurance........................... 56 (one car, one van)
Car maintenance (including MOT)......... 10 have you allowed enough here??
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 100
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 16.55
Life assurance ......................... 16.69 (cover for both me and husband)
Other insurance......................... 22.98 (13.99 appliance cover, 8.99 laptop insurance) (will be asking husband to consider cancelling these) definately cancel these
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Child Maintenance....................... 140 (essential, unless husband wants the CSA on his tail!) agree
Total monthly expenses.................. 1576.17

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 10000 (one car, one van, both essential)
Other assets............................ 0
Total Assets............................ 10000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Loan 1.........................?.........489.......0 (until 2010)
Loan 2.........................?.........289.......0 (until 2010)
Loan 3.........................300.......100.......0 (finishes January)
Catalogue......................220.......20........0
Credit Card 2..................5805......130.......0
Credit Card 1..................9698......298.......0
Total unsecured debts..........

Monthly Budget Summary
Total monthly income.................... 1,956
Expenses (including secured debts)....... 1,586.17
Available for debt repayments........... 369.83
Monthly UNsecured debt repayments....... 1,326
Surplus(deficit if negative)............ -956.17

Personal Balance Sheet Summary
Total assets (things you own)........... 10,000
Total Secured debt...................... -0
Total Unsecured debt.................... -16,023
Net Assets.............................. -6,023

There are two adults, one child and a cat in the household.

a few pointers

ineedhelp2008

Thank you MissKJ. No, not what I want to hear but its the truth which is what I/We need to face up to I think Soo Soo hard.

ineedhelp2008

ajaney wrote: »

a few pointers

Thank you.

The telephone and internet are a combined bill, I have just broken it down.

Car maintenance, no, I probably haven't but couldn't afford to budget any more for it.....

Husband more than likely wont agree to cancel the sky. we don't have any pleasures in life left other than this for him and £22 a month is not going to save us...

MissKJ

You know,I have struggled on for 18 months, good wage but just not balancing the books with the debts, so now am about to go on to a DMP with paypln. I actually wish now i had done it sooner. They actually a little allow more in the budget than i allow myself.Gives some wiggle room if youknow what i mean.

Ask yourself this, if you dont reduce your debt payments,how ARE you going to carry on paying the important stuff? If you set one up now, your calls will have stopped by Christmas, possibly with interest frozen. You can then start the new year with some breathing space. If things improve, you can stop the DMP plan any time. All you will lose is your credit rating, but you really shouldnt be borrowing more anyway?

slummymummyof3

Can you or your husband buy child nursery vouchers through your employer? This may reduce your overall childcare costs.

You can probably cut your grocery shopping - try bulking out a chilli etc with some dried red lentils etc. Cleaning products - try using white vinegar and bicarbonate of soda etc (old style cleaning).

Use the cashback sites to purchase your insurances etc - topcashback.co.uk, quidco.com and cashbackkings.co.uk

Hope this is of some help!

MissKJ

Oh and they will include some sky subsciptions into your budget.

ineedhelp2008

loaner wrote: »

if husbands job is nights, can't you share one vehicle?

Hi there. Yes we do share one vehicle when we can but quite often I don't finish work and get home in time for him to take the car to work. Also we are hoping against hope that the building trade will pick up again in the new year and he will need his van then.

No the loans are not 0%, I just dont have the figures at the moment.

ineedhelp2008

MissKJ wrote: »

You know,I have struggled on for 18 months, good wage but just not balancing the books with the debts, so now am about to go on to a DMP with paypln. I actually wish now i had done it sooner. They actually a little allow more in the budget than i allow myself.Gives some wiggle room if youknow what i mean.

Ask yourself this, if you dont reduce your debt payments,how ARE you going to carry on paying the important stuff? If you set one up now, your calls will have stopped by Christmas, possibly with interest frozen. You can then start the new year with some breathing space. If things improve, you can stop the DMP plan any time. All you will lose is your credit rating, but you really shouldnt be borrowing more anyway?

Thank you. I've stopped being sick and started crying now :rotfl:

I just can't believe its come to this.

ineedhelp2008

loaner wrote: »

Throw the catalogue away

It's gone, believe me!!!!