my soa

Darth_Marty

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 950
Partners monthly income after tax....... 700
Benefits................................ 150
Other income............................ 0
Total monthly income.................... 1800

Monthly Expense Details
Mortgage................................ 700
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 130
Gas..................................... 80
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 20
Mobile phone............................ 60
TV Licence.............................. 12
Satellite/Cable TV...................... 45
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1627

Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 145000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 100000...(700)......7
Secured Debt.................. 15000....(0)........7
Total secured debts........... 115000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
cedit card.....................10000.....75........18
Total unsecured debts..........10000.....75........-

Monthly Budget Summary
Total monthly income.................... 1,800
Expenses (including secured debts)....... 1,627
Available for debt repayments........... 173
Monthly UNsecured debt repayments....... 75
Surplus(deficit if negative)............ 98

Personal Balance Sheet Summary
Total assets (things you own)........... 145,000
Total Secured debt...................... -115,000
Total Unsecured debt.................... -10,000
Net Assets.............................. 20,000

Darth_Marty

Things are tight no?!

SecretSquirrel88

Darth_Marty wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 950
Partners monthly income after tax....... 700
Benefits................................ 150
Other income............................ 0
Total monthly income.................... 1800

Monthly Expense Details
Mortgage................................ 700
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 100 10 or 12 months?
Electricity............................. 130 wow - too much!!
Gas..................................... 80 again, too much
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 20
Mobile phone............................ 60 lower tarrifs?
TV Licence.............................. 12
Satellite/Cable TV...................... 45 dont need this
Internet Services....................... 0
Groceries etc. ......................... 300 how many for?
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1627

Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 145000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 100000...(700)......7
Secured Debt.................. 15000....(0)........7
Total secured debts........... 115000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
cedit card.....................10000.....75........18 switch to 0%?
Total unsecured debts..........10000.....75........-

Monthly Budget Summary
Total monthly income.................... 1,800
Expenses (including secured debts)....... 1,627
Available for debt repayments........... 173
Monthly UNsecured debt repayments....... 75
Surplus(deficit if negative)............ 98

Personal Balance Sheet Summary
Total assets (things you own)........... 145,000
Total Secured debt...................... -115,000
Total Unsecured debt.................... -10,000
Net Assets.............................. 20,000

the only other thing i can say is are you getting the right benefits? and could you do extra work? even joining the make £10 a day challenge would help you

Darth_Marty

I know, to be honest thats just made up from memory, it was just an exercise to show myself that things are tight I guess. My salary should increase dramatically over the next 2-3 years so whilst im a little concerned its not as bad as some cases. Its a really good forum this though, loads of interesting advice and people.
Im glad I joined.

piglet39

Your gas and electricity seem astronomical!!!

Does this include some arrears? If not you might be eligible for transition to a social tariff as you are paying out more than 10% of your income on heating/electricity etc. I think most of the suppliers have them.

Piglet

Darth_Marty

Yeah, i think its arrears! Needs to be! Since they put it up ive made sure pretty much everything is off at the wall!

Damita

Agreeing council tax, gas and elec is sooo high!! switch...

Ha ha you posted before my reply, couldn't you call them and check?

sarahs999

Nothing for entertainment, holidays, birthdays? IF you really want to show yourself how tight things are you need to fill these all in.

Also it's great that your salary should increase in a few years but:
a. Redundancy is quite common these days, as are pay freezes, and
b. you can run up quite large debts in that time.

Darth_Marty

ha ha good points but at present its a struggle to pay everything every month and live but we do manage it, its like you miss a payment to be solvent then next month things are ok. My wife is only part time as we have young uns, once shes back in full time employment and my salary increases we should, should, be well comfortable.

Regarding un-employment, well thats going to have to be managed if and when, although I would say its unlikely in both our cases.

Verbatim

Can you get a deal which incorporates landline, internet and mobile? I pay around £36 a month with Virgin altho this includes theit TV rather than mobile.

sarahs999

But hold on, if your wife goes back to work full time there will be childcare expenses to sort out. And don't you have some already that you haven't included if she's working part time? Are you expecting your salary to double?!! Childcare can be very spendy. For someone with only £98 left at the end of the month (as a very optimisic estimate) you're a sanguine man! :rotfl: