My brand spanking new SOA!

littlepinkstars44

ok so i have changed a few things, cut back on Mac (only for just now though!) haha

So this is the new SOA, which i hope will see me through the next few months, until my birthday in Jan, so i can do some serious shopping!

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 300
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 340
Total monthly income.................... 640

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 37.5
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 40
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 46
Childcare/nursery....................... 0
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)...... 20
Haircuts................................ 0
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 323.5

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
New Look Card..................51.29.....15........28.9
Arcadia Staff Card.............230.91....20........29.9
Dorothy Perkins Card...........207.......20........29.9
BOS Overdraft..................1100......100.......0
Kays...........................213.......24........0
Additions......................170.85....30........39.7
Total unsecured debts..........1973.05...209.......-

Monthly Budget Summary
Total monthly income.................... 640
Expenses (including secured debts)....... 323.5
Available for debt repayments........... 316.5
Monthly UNsecured debt repayments....... 209
Surplus(deficit if negative)............ 107.5

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -1,973.05
Net Assets.............................. -1,973.05

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

======== Enter any other useful information below ========
erm, 3 adults and 1 child in the house.

littlepinkstars44

any advice, opinions are all welcome!

ElizabethJH

One of the biggest savers that I found earlier on in the year was on my clothes budget! (This was back when I was being good before summer!) I made a pact with myself that I could only buy new clothes with money from selling old clothes on ebay! I [STRIKE]needed[/STRIKE] wanted the boost of a new outfit and helped me declutter as well!!

littlepinkstars44

ElizabethJH wrote: »

One of the biggest savers that I found earlier on in the year was on my clothes budget! (This was back when I was being good before summer!) I made a pact with myself that I could only buy new clothes with money from selling old clothes on ebay! I [strike]needed[/strike] wanted the boost of a new outfit and helped me declutter as well!!

thanks, i have already sold everything i can lol!
I get 25% off all arcadia shops though so it should be alot higer! lol

IWantToBeFree_2

Mobile phone bill is extortionate, would look at cutting that down and throwing the extra money at the store cards and catelogs with ridiculously high APRs, I would imagine that your monthly payments are not making much of a dent in the balances...

littlepinkstars44

IWantToBeFree wrote: »

Mobile phone bill is extortionate, would look at cutting that down and throwing the extra money at the store cards and catelogs with ridiculously high APRs, I would imagine that your monthly payments are not making much of a dent in the balances...

I have already got it down from £80+ a month
see here: http://forums.moneysavingexpert.com/showthread.html?t=1283379

fairydiamond

Could you not move all your store cards to one 0% balance credit card? You could wipe them out much quicker!

ElizabethJH

Do you work for Arcadia Groups then?? I remember when I worked in Debenhams it was awful as I was so tempted by the clothes all day and ended up spending so much money!! Especially around sales time when you get first grab at the bargains!!

I would say without earning more money there's nowhere else that you could really cut back - except maybe your mobile... It's not really a large debt and you could pay it off fairly quickly with snowballing it

http://www.whatsthecost.com/snowball.aspx?country=uk

The thing is to be careful that you don't build up any more debts, it's so easy when you have store cards! You sound a lot more sensible then I ever was though

littlepinkstars44

fairydiamond wrote: »

Could you not move all your store cards to one 0% balance credit card? You could wipe them out much quicker!

No, my credit rating is so bad, see here:
http://forums.moneysavingexpert.com/showthread.html?t=1281191

Burlesque_Babe

stop buying clothes and use what you already have for the next 6 months unless you need underwear (and even then if the need is urgent!)

That's enough to have one of your store cards paid off in full if you add that on to the payment you are already making.

Have a look on the Up Your Income thread for ideas to increase your income, which is tiny. A second job in a bar or in a shop - particularly in the run up to Christmas will help you knock more off your debt.

littlepinkstars44

ElizabethJH wrote: »

Do you work for Arcadia Groups then?? I remember when I worked in Debenhams it was awful as I was so tempted by the clothes all day and ended up spending so much money!! Especially around sales time when you get first grab at the bargains!!

I would say without earning more money there's nowhere else that you could really cut back - except maybe your mobile... It's not really a large debt and you could pay it off fairly quickly with snowballing it

http://www.whatsthecost.com/snowball.aspx?country=uk

The thing is to be careful that you don't build up any more debts, it's so easy when you have store cards! You sound a lot more sensible then I ever was though

I used to work for Topshop, but still have the card!