Revised SOA...

mbs1

Since its been over a year tackling my debts, i thought id do a new SOA, as we've moved properties, lowered debts etc.

Total debts at LBM were over 40k, now they are half at 21k.

So here goes:

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 2100 - This can be as high as 3k with OT
Partners monthly income after tax....... 0
Benefits................................ 116
Other income............................ 0
Total monthly income.................... 2216

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 575
Management charge (leasehold property).. 0
Council tax............................. 109
Electricity............................. 25
Gas..................................... 30
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 15
Mobile phone............................ 40 - This is for 2 mobs
TV Licence.............................. 11
Satellite/Cable TV...................... 35
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 27
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 82
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 7.32
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1378.32

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Mint CC........................1188.68...0.........0
AA CC..........................1900......0.........12.9
HSBC Loan......................13765.4...244.9.....11.9
A&L Loan.......................3767.55...171.8.....7.9

Summary of Monthly Income, expense and surplus

Total monthly income: £ 2216
Expenses (incl. secured debts): £ 1388.32
Available for debt repayments: £ 827.68
Unsecured debt repayments: £416.70
£ Surplus £ 410.98

Personal Balance Sheet Summary

Assets: £ 2000
Secured Debt £
Unsecured Debt £ -20,621.63
Net Assets £ -18,621.63

Ive probably forgotton something, Thanks for reading

mbs1

tuggy

Looks brilliant, with a big surplus like that every month you should be clearing those debts really soon :beer:

dancingfairy

Well - satelite/cable is probably the easiest saving to make to be honest - can you reduce the package? or go freeview?
Childcare - can you get childcare vouchers? does this work out better for you? you need to check how it works though with Working Family Tax Credit if you get that as I have a feeling someone worked out what you would save with the childcare tax vouchers you would loose with the Tax Credit?
Good Luck
df

Jesthar

:T Well done - nice surplus! :T Is that getting saved or overpayed on something at the moment?

~Jes

DebtFreeDan

You might even be able to get the groceries down a tad too?? ... but well done on the new SOA - looks pretty good to me! :rolleyes: