my soa

haleygrey

Have just been reading some of the posts regarding debts and have been feeling disheartened at the prospect of having to cancel christmas because i cant afford it. So I have prepared my SOA and have also made a start by contacting both the National Debt Line and CCCS, Hopefully one of them will be able to help me
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1069
Partners monthly income after tax....... N/A Benefits................................ 389.40
Other income............................ 0
Total monthly income.................... 1458.40
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 422.18
Management charge (leasehold property).. 0
Council tax............................. 132
Electricity............................. 80
Gas..................................... 25
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 13.45
Mobile phone............................ 35
TV Licence.............................. 15.50
Satellite/Cable TV...................... 11.5
Internet Services....................... 18
Groceries etc. ......................... 240
Clothing................................ 5
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
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................. 12
Buildings insurance..................... 0
Contents insurance...................... 12.18
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1060.31

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 600
Other assets............................ 0
Total Assets............................ 600

No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Lloyds TSB Loan 5291......191.4.....12.2
John Lewis Credit Card.........2750......86........16.9
Tesco Credit Card..............1900......106.......14.0
nationwide (overdraft).........1300......75 12.2
Lloyds Bank overdraft 2 a/cs.. 820.......0.........0
store card - Next Directory....600.......49........0
Barclaycard....................1000......48........14.9
Halifax Credit Card............1800......79........22.95
Total unsecured debts..........15461.....606.4.....-

Monthly Budget Summary
Total monthly income.................... 1,458.4
Expenses (including secured debts)...... 1,060.31
Available for debt repayments........... 398.09
Monthly UNsecured debt repayments....... 606.4
Surplus(deficit if negative)............ -208.31
Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total Secured debt...................... -0
Total Unsecured debt.................... -15,461
Net Assets.............................. -14,861
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

laurenjs88

Hey, im a newbie so probably not much help, but how many people are living in your household, that would help people get an idea of what you can cut down on.

Your leccy bill seems really high! so does your Groccery bills check out to old style money saving forum for tips on how to really get that down.

Also have you looked at the xmas forum for some amazing cheap pressies, also look at the freebies board ive spent £4 on xmas so far on 2 selection boxes! but got a DVD, i-pod (if it turns up b4 xmas) £50 amazon voucher, a professionaly printed photo book & some other nice little freebies for just minutes of my time filling in addresses!

Good Luck!!

doodledo_2

Hi and welcome to the board and well done on posting your SOA.

The good thing is according to your SOA you have surplus monies each month.

I notice that you have no expenses for a car or any other form of travel is this right?

How many is in your household? Your groceries may be on the high side but obviously depends on numbers of people.

moo2moo

Things don't seem all that dire. You're covering your outgoings each month which is a great start. How many people is £240 a month feeding? Do you really need satellite TV? Can you reduce the mobile phone bill? You can get a much better internet deal than the one you're currently on. Every little bit helps.

When do the 0% APRs end?

Set yourself goals. Small ones and work on one thing at a time. Take the £1900 credit card that you're paying £106 a month on. At the rate you're currently paying that will be cleared in September 2010. If you add your £72 a month surplus to your regular payments it will be gone by Christmas next year.

I'm sure others will have lots more ideas.

haleygrey

Thanks to everyone for responding so quick, the electric is high because im trying to pay off arrears on it as well as paying off arrears on the rent and council tax. Theres only me the kids, the dog and the cat! The food bill was a really rough guess as i dont shop weekly, i try to get to Lidls when I can as it lasts at least 4 weeks. Have had to take the car off the road as i couldnt afford the tax and am now possibly going to have to sell it as it now needs mot, tax, insurance and poss a service and/or repairs if its failed the mot. Have actually got to the stage of wondering if its actually worth carrying on living! But am getting help from a good friend and my sister. Still would like to know that I can afford to have christmas though!

haleygrey

to laurenjs88, if you could point in the direction of the xmas forum i'd be grateful as i cant seem to find it. moo2moo, regarding the 0% aprs i wasnt sure about a percentage rate as its paying off an overdraft from an account i stopped using

edinburgher

How many kids?

Deep_In_Debt

Hi
Is your TV licence really £21 pm - usually it's about £11-12pm - do you have arrears on it?

Shopping in Lidl is good too. I shop there now and have saved quite a lot on my weekly shop. It might be worth batch cooking and freezing if you can. Pop over to the old style board for ideas on cheap but healthy meals etc.

Can you also get a deal on your internet/sky etc and get a package?

doodledo_2

If you are having those kind of thoughts it may be an idea to get yourself to the doctors for some help.

It's definately worth living you have you children and they love you regardless of your debts. I am glad you have some good friends looking after you as sounds like you need support.

Lots of people on here have felt like you have so do keep posting on here we are a friendly bunch.

Contacting the debt charities is a brilliant idea. I think going down that line may well off you a bit of breathing space and help you cope you with your situation.

moo2moo

Of course its worth living! You really don't need money to have a great Christmas. Make paperchains from old newspapers. Make sock monkeys with the kids for fun, Tesco have a link on their site to stockings made from old jumpers. Crackers are easy and fun to make from old loo rolls and decorated paper. Kids don't need huge presents to have a memorable Christmas. They'll have more fun playing Charades and cheesy old fashioned party games. You can pick up some fabulous gifts for next to nothing from Church Fayres and there will be lots in the next few weeks.

Mine love to play cards for money, maximum gamble of a penny a time. it keeps them quiet for ages and there are plenty of card games simple enough for my 5 year old to play.

moo2moo

The Christmas threads and sock monkeys and much much more can be found on the Special Occasions and Celebrations sub section of the site.

http://forums.moneysavingexpert.com/forumdisplay.html?f=101