any help really appreciated

otb666

<===== Copy and paste EVERYTHING below this line into your MSE post =====>


Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1553
Partners monthly income after tax....... 914
Benefits................................ 40.62
Other income............................ 125.4
Total monthly income.................... 2633.02

Monthly Expense Details
Mortgage................................ 1171.4
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 131
Electricity............................. 50
Gas..................................... 26
Oil..................................... 0
Water rates............................. 45.29
Telephone (land line)................... 45
Mobile phone............................ 0
TV Licence.............................. 11.61
Satellite/Cable TV...................... 47
Internet Services....................... 40
Groceries etc. ......................... 571
Clothing................................ 10
Petrol/diesel........................... 86
Road tax................................ 10
Car Insurance........................... 10
Car maintenance (including MOT)......... 30
Car parking............................. 75
Other travel............................ 50
Childcare/nursery....................... 80
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 5
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 80
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2599.3

Assets
Cash.................................... 0
House value (Gross)..................... 170000
Shares and bonds........................ 4000
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 175000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 170000...(1171.4)...5.79
Total secured debts........... 170000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
sains life of ba...............5454......120.......6.57
hsbc...........................1500......34........0
bank loan......................4413......130.......5
Total unsecured debts..........11367.....284.......-

Monthly Budget Summary
Total monthly income.................... 2,633.02
Expenses (including secured debts)....... 2,599.3
Available for debt repayments........... 33.72
Monthly UNsecured debt repayments....... 284
Surplus(deficit if negative)............ -250.28

Personal Balance Sheet Summary
Total assets (things you own)........... 175,000
Total Secured debt...................... -170,000
Total Unsecured debt.................... -11,367
Net Assets.............................. -6,367

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.

otb666

2 adaults 16 and 10 year olds i car i motorbike

JAMIEDODGER

hi:wave:
groceries are really high! how many does this feed?

JAMIEDODGER

you read my mind lol

i feed myself 4 kids and a lot of animals on 200 per month, try checking out the os board for help to reduce this and join the grocery challenge:)

otb666

i currently spend about 100 pw on food-i am affraid the other suplus 50 pw go on fags-we will both have to give up i know-and i am going to try audis this week

JAMIEDODGER

youve made a start, thats what counts! i smoke too (bad habit i know!) but i buy tobacco and make my own.

the groceries, start by making an inventory of everything you have cupboards, freezer, fridge etc. see how many meals you can make out of it. draw up a meal plan for the month and shop to that...£100 is a lot on food!:) doing this would free up a lot each month!

parking is very high. any specific reason for this?

also sky could be reduced

hope this helps

otb666

any help please--the more stressed i get the more i smoke

paybacktime2008

This is what i am trying.....instead of buying 20 cigs a day i am buying ten and a packet of rolling baccy every other day. therefore saving about £1.25 a day. If there is two of you that would be £2.50 a day! Join the payment a day challenge and pay that off a card or something??

otb666

well the parking is really others half pocket money but there was not a line for that-he buys food at canteen at work and cans of coke-he does work 12 hour shifts though-the childcare is my older sons dinner money but apart from that all correct

milliemonster

can your son take pack up to school instead? or at least some of the time, same for your hubby, those and cutting your food/fag bill will free up the money you need

JAMIEDODGER

otb666 wrote: »

well the parking is really others half pocket money but there was not a line for that-he buys food at canteen at work and cans of coke-he does work 12 hour shifts though-the childcare is my older sons dinner money but apart from that all correct

you would save a lot if OH took in leftovers/packup to work and stopped buying cans of drink. you could buy them in bulk at tesco etc as they are often on BOGOF and send him in with one a day and no cash. hard i know but you do need to cut back. Can your son take pack up to school instead of buying lunches, this too will save you money. all my four take pack lunches to school, sometimes my oldest moans but i tell him he is quite welcome to take in his own pocket money to buy stuff if he likes lol....he still continues to take a pack lunch:D

Are your family onside with reducing outgoings, this really helps:) kids need to know from a young age the responsibility of money, its ok to tell them you cant afford stuff. if they want things, get them to help reducing costs within the house and put a portion of the money saved into a savings account/pig whatever so they can watch the money build up until they have enough to afford what it is they want.

HTH