so why do I have nothing at the end of the month??

sisbod

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1400
Partners monthly income after tax....... 0
Benefits................................ 246
Other income............................ 0
Total monthly income.................... 1646

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 81.5
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 23
Telephone landline and internet......... 25
Mobile phone............................ 0
TV Licence.............................. 16
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 10
Petrol/diesel........................... 230
Road tax................................ 20
Car Insurance........................... 31
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
sons money for travel,lunch & essentials.50
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1301.5

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
variety of collectors..........30000.....22........0
Total unsecured debts..........30000.....22........-

Monthly Budget Summary
Total monthly income.................... 1,646
Expenses (including secured debts)...... 1,301.5
Available for debt repayments........... 334.5
Monthly UNsecured debt repayments....... 22
Surplus(deficit if negative)............ 302.5

Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total Secured debt...................... -0
Total Unsecured debt.................... -30,000
Net Assets.............................. -29,000

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


Hi I decided to take the plunge and ask a very simple question - why have I never got any money at the end of the month.
I must admit that the food and petrol are rough guesses but I know that it isnt far out.
As to the debts it is to a variety of organisations including a bank and store cards I basically forced them to allow me to pay token amounts and have done for the last 18 months but it is obviously not denting it much.
My main thought is how come it says I have £300 free to repay debts when I am always begging/struggling for the end of month?
I have a dog, cat and 17yr old son (at college) girlfriend is here half the week and he is at her family home the other half!
Petrol is high and sometimes it varies dependent on how many times I car share though it is not always possible as I am supposed to have my car every day as an essential user. So do your best and tell me where it has all gone - just off to check my bank statement for bright ideas.

redsquirrel80

Hiya

Your best bet would be to keep a spending diary - write down everything you spend for the next month, you'll soon realise where it's all going. All the little bits that don't seem much at the time soon add up - do you buy magazines, coffees from coffee shops, lunch at work, the odd chocolate bar, etc, etc?

Good luck with it all.

Barneysmom

Until you work out how much you do spend on food, you'll never see where your money is going. I was the same till I joined this board, couldn't see where my money was going.
You only allowed £10 a month for clothes, is that right?
Your fuel looks massive to me, do you work a long way from home, maybe - I hate to say it - the bus would work out cheaper during the week?
I think a bus pass is about £30. a month (don't quote me on this though).

tyllwyd

I think you need to be brutally honest with yourself - that £300 can't be vanishing, so you are spending it and you need to work out where it is going. Like rs80 says above, a spending diary is a good idea, or sit down with your bank statements for the last two or three months, and allocate everything you spend into a category and see if the budget you've written down is realistic.

hermanmunster_3

looks like 50p to buy a notebook (tie a pencil to it) and take it EVERYWHERE with you and hence write down absolutely everything you buy.

actually doing this will probably make you spend less .....

same happens in dieting if you get people to write down everything they eat they actually end up eating less

Barneysmom

I started asving money aswell, when I realised just how boring going shopping actually is
I just can't be bothered to go and only go when I absolutely can't get out of it, like I need milk.

tyllwyd

One thing I wondered - does your son have a part-time job as well as college? Because if not, £50 a month won't go very far nowadays - I wonder if you might be giving him a bit more now and again without thinking about it.

milliemonster

But you can't honestly be paying just £22 a month on your debt of £30,000 can you? or is that a DMP?

you need to make a spending diary and write down everything you spend your spare cash on (even if its just a stamp!)

sisbod

just trying to track down the bank statements as we speak - I am really carp at keeping a log (- same with the dieting:rolleyes:)
just been mentally thinking about what I bought did extra this last week and it is horrendous - I would leave my bank card at home but end up 'needing' to pay out for leaving lunches gifts etc
My petrol is high I have an 86 mile round trip on the days I drive which is usually a minimuim of 3 days and even on the car share days it is 30 miles round trip hence the high petrol and I really am tight about cost of petrol and driving like Miss Daisy - I have even been known to work late so that I dont make special trips for my son as that is another 30 miles round trip
Quickly getting a lightbulb moment:eek:

Barneysmom

Sisbod, I just noticed your weightloss sig, well done, you've lost alot of weight, keep it up!!! xxxx
P.S what's the secret

sisbod

Twllwyd - yeah you might be right but not much - he gets £20 from his dad but it costs him £30 for travel and lunch a week - roll on when they finally sort out the EMA typical money to help then dont give it to them. :mad:
Millie monster when I first put in an SOA I had loads of extra things that needed to be paid and I assessed the figures based upon recommended figures for food etc. and I was paying full cost of petrol before I started car sharing and then offered token payments some didnt even respond when I said I couldnt pay any extra so it is £22 for 30K I live in hope that I can pay off some of the little things but to be honest until I get really good it is sooo not happening
Barneysmum As to weight trying Slimming world and a bit of keep fit but so far only 9lbs - I really want to get into the 15somethings for Christmas - but bottles of wine never were part of the diet!!!!