Hit me with your best advice (please!)

TotallyBroke

beautiful_ravens wrote: »

This is my rough guesstimate of your joint soa. You can keep your finances seperately. But you should be paying 50/50 or as close to it as a family

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 3
Monthly Income Details
Monthly income after tax................ 670.16
Partners monthly income after tax....... 800
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1470.16
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 15
Hire Purchase (HP) repayments........... 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 100
Gas..................................... 0
Oil..................................... 66
Water rates............................. 22
Telephone (land line)................... 15
Mobile phone............................ 8
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 240
Clothing................................ 10
Petrol/diesel........................... 151
Road tax................................ 20.10
Car Insurance........................... 53
Car maintenance (including MOT)......... 33
Car parking............................. 1
Other travel............................ 10
Childcare/nursery....................... 15
Other child related expenses............ 145
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 7
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 6
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1739.10

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1470.16
Expenses (including HP & secured debts). 1739.10
Available for debt repayments........... -268.94
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -268.94
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 2,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Of couse, some of the things like car tax and MOT only come around once or twice a year, not really every month.

Even though tax and mot etc only come round once a month you should still put that money aside. As I'm typing this I can not remember if you work or not. Is your income really benefits. I really think that you as a family need to sell either a car or the bike. It's costing you to keep them. You then need to consider upping your incomes as even with the summer being better and the extra income being split across the year you will still be spending more than you are earning between you.

TotallyBroke

Why can you not go back to work until next spring? I really think that you should consider getting a part time job even if it is in the evenings in the local pub. You could work under the 16 hours so your benefits are not affected and what you could earn in tips gets saved for something nice for the family.

beautiful_ravens

TotallyBroke wrote: »

Why can you not go back to work until next spring? I really think that you should consider getting a part time job even if it is in the evenings in the local pub. You could work under the 16 hours so your benefits are not affected and what you could earn in tips gets saved for something nice for the family.

Thanks - When I wrote that it was last year - it nearly is spring now, so soon I will be getting a job, either care work or 'odd job lady' work. My youngest has started preschool a couple days a week, so I have a little more time.

Even though tax and mot etc only come round once a month you should still put that money aside. As I'm typing this I can not remember if you work or not. Is your income really benefits. I really think that you as a family need to sell either a car or the bike. It's costing you to keep them. You then need to consider upping your incomes as even with the summer being better and the extra income being split across the year you will still be spending more than you are earning between you.

Yes, mine is benefits.
We were discussing having just one car and the bike, for a while until perhaps a time comes when we can afford a car each again; just a little tricky because I only drive an automatic, and it would be a bit harder to find the right car that we could share. Otherwise, yes its on the cards.

TotallyBroke

Hi how are you doing.

How are you finding things