My SOA - can you take a look?

determinedtodothis

Hey!

I've posted this in my diary to but can you take a look and see what you think please? thanks!

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 2240
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2240
Monthly Expense Details
Mortgage................................ 822 Includes £248.65 towards Arrears
Secured loan repayments................. 326 Includes £100 towards Arrears
Rent.................................... 0
Management charge (leasehold property).. 85.00
Council tax............................. 105.00 Includes £20 towards arrears
Electricity............................. 50.00
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 40.00
Mobile phone............................ 25.00
TV Licence.............................. 12.00
Satellite/Cable TV...................... 9.99
Internet Services....................... 7.00
Groceries etc. ......................... 80.00
Clothing................................ 30.00
Petrol/diesel........................... 28.00
Road tax................................ 20.00
Car Insurance........................... 50 Ends in Jan so can shop around
Car maintenance (including MOT)......... 12
Car parking............................. 0
Other travel............................ 318 Train fare to work
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 11.7
Buildings insurance..................... 0
Contents insurance...................... 13.98
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 39 Really only every 6 weeks
Entertainment........................... 50 Will try & Cut this but its hard for xmas
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 2174.67

Assets
Cash.................................... 0
House value (Gross)..................... 135000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 139000

Secured Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 85000....(822)......6.9
Secured Debt.................. 3200.....(326)......0
Total secured debts........... 88200.....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
Cahoot.........................5917......20.75.... .0 Interest Frozen
Egg............................7195.5....25.25.... .0 Interest Frozen
Capital One....................950.......10........0 Interest Frozen
Car............................2300......0........ .0 Interest Frozen
Total unsecured debts..........16362.5...56........-

Monthly Budget Summary
Total monthly income.................... 2,240
Expenses (including secured debts)...... 2,174.67
Available for debt repayments........... 65.33
Monthly UNsecured debt repayments....... 56
Surplus(deficit if negative)............ 9.33
Personal Balance Sheet Summary
Total assets (things you own)........... 139,000
Total Secured debt...................... -88,200
Total Unsecured debt.................... -16,362.5
Net Assets.............................. 34,437.5
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

TotallyBroke

Hi well done for posting your soa.
To make things look a little easier for helping. Could you put the normal mortgage and secured loan payment in the monthly expense bit.
And then add the arrears into the secured debt section and how much you pay towards that.
I'll have a look through now and see if there is anything obvious that I notice.
The good thing is that you are showing spare money. Well done

Jenny2008

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 2240
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2240
Monthly Expense Details
Mortgage................................ 822 Includes £248.65 towards Arrears
Secured loan repayments................. 326 Includes £100 towards Arrears
Rent.................................... 0
Management charge (leasehold property).. 85.00
Council tax............................. 105.00 Includes £20 towards arrears
Electricity............................. 50.00
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 40.00 - This, along with your mobile phone, satellite and internet comes to a whopping £82 a month. Could you swap to a company that offers a bundle pacakage and also switch to Freeview? I pay Talk Talk around £20 a month for broadband and phone; and also persuaded my family and some friends to switch to Talk Talk so I get free phone calls too!
Mobile phone............................ 25.00
TV Licence.............................. 12.00
Satellite/Cable TV...................... 9.99
Internet Services....................... 7.00
Groceries etc. ......................... 80.00
Clothing................................ 30.00 Could you do without new clothes for a while? Or shop somewhere cheaper?
Petrol/diesel........................... 28.00
Road tax................................ 20.00
Car Insurance........................... 50 Ends in Jan so can shop around
Car maintenance (including MOT)......... 12
Car parking............................. 0
Other travel............................ 318 Train fare to work
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 11.7
Buildings insurance..................... 0
Contents insurance...................... 13.98
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 39 Really only every 6 weeks Could you try the student days at local hairdressers?
Entertainment........................... 50 Will try & Cut this but its hard for xmas Agree: it IS hard at Christmas, esp with work dos etc. If you're committed to certain nights out already for Christmas, why not cut it down in new year instead? And look for cheaper entertainment. Lots of suggestions on this forum - Orange Wednesdays, meal vouchers etc.
Holiday................................. 0
Emergency fund.......................... 10 Maybe put this towards debts instead until you're clear?
Total monthly expenses.................. 2174.67

determinedtodothis

thanks guys

I will make the changes

brilliant idea about the hairdressers, the clothes i guessed at but in the last 2 months i bought 2 pairs of trousers in Primark for £10 each for work so i am getting better and wont need anything for a while now - and i am trying to work my BT phone bill out its way hugh considering i'm meant to be on £15 a mnth line rental and i use my mobile which should have this deal every month of £15 credit and then unlimited calls and text... with Broadband i'm with bt and my TV is top up TV - so i have just rung BT and someone is calling me back on their vision thing

TotallyBroke

Well done for sorting bt straight away.
I'd also consider the car and the train fares. Do you really need both. Is it not possible to drive to work you are spending over £3000 to get to work.
That's nearly 3 of your debts. Or consider getting rid of the car. How often do you really use it.
Can you try and cut back on your groceries. There are threads about that feed families for £20 per week so for you it could work out at £20 for the month!