Some advice please

mbs1

misslee1888 wrote: »

Our Statement of Affairs

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1,399.23
Partners monthly income after tax....... 2,692.88
Benefits.(Child benefit)................ 80.00
Other income............................ 0
Total monthly income.................... 4172.11
Monthly Expense Details
Mortgage................................ 1316.84
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 213 - 10 or 12 months?
Electricity............................. 72 - too high, switch using quidco
Gas..................................... 70 As above
Oil..................................... 0
Water rates............................. 0 No water?
Telephone (land line)................... 12
Mobile phone............................ 50 - Reduce, or go PAYG
TV Licence.............................. 11.95
Satellite/Cable TV...................... 81.79 - WOW, Mega high, downgrade package or get freeview.
Internet Services....................... 0
Groceries etc. ......................... 350 Also very high, should be £150-£200 tops
Clothing................................ 100 Every month! Gotta be cut,
Petrol/diesel........................... 450 Another Big one, Lots of miles or just a thirsty car?
Road tax................................ 18.33
Car Insurance........................... 176.00 - Switch using quidco, is it really over 2 grand a year?
Car maintenance (including MOT)......... 20
Car parking............................. 0
Car lease............................... 196
Other travel............................ 80 - Whats this for?
Childcare/nursery....................... 250 Can you get childcare vouchers from work?
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 Nothing here?
Pet insurance/vet bills................. 36
Buildings insurance..................... 0 in with mortgage
Contents insurance...................... 0 in with mortgage
Life assurance ......................... 63.71
Other insurance......................... 0
Presents (birthday, Christmas etc)...... 50 Reduce this
Haircuts................................ 30 Cut your own!
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Wedding Rings........................... 92.56 All these should be on your unsecured debt list.
Debit interest on My Overdraft...........12.98 As above
Debit interest on DH Overdraft.......... 83 As above
Payment on My CC........................ 35 As above
Payment on DH CC........................ 50 As above
Student Loan ........................... 102.78 As above
Princes Trust .......................... 100.00 As above
Total monthly expenses.................. 4123.84

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900 is this right? £900 car and 2k insurance?
Other assets............................ 0
Total Assets............................ 0

No Secured Debt
Unsecured Debts
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 4172.11
Expenses (including secured debts)...... 4123.84
Available for debt repayments........... 48.27
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 48.27
Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

A few things to look at, you need to look at your figures again. some seem a bit out......

Thanks

misslee1888

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1,399.23
Partners monthly income after tax....... 2,692.88
Benefits.(Child benefit)................ 80.00
Other income............................ 0
Total monthly income.................... 4172.11
Monthly Expense Details
Mortgage................................ 1316.84
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 213 - 10 or 12 months?
This is over 10 months and includes water rate. In scotland water rates are included in the council tax. Will look into splitting over 12 months.
Electricity............................. 72 - too high, switch using quidco
Gas..................................... 70 As above
will have a look at switching providers
Oil..................................... 0
Water rates............................. 0 No water?
Telephone (land line)................... 12
Mobile phone............................ 50 - Reduce, or go PAYG
This is for 2 mobile phones. DH £35.00 (going to cancel) and mine is £15
TV Licence.............................. 11.95
Satellite/Cable TV...................... 81.79 - WOW, Mega high, downgrade package or get freeview.
This includes cost of landline calls and broadband.
Internet Services....................... 0
Groceries etc. ......................... 350 Also very high, should be £150-£200 tops.May have overestimated this, but will try adn cut down will reduce to 200
Clothing................................ 100 Every month! Gotta be cut,
Petrol/diesel........................... 450 Another Big one, Lots of miles or just a thirsty car?
My DH drives for a living and isnt inconcervable to have to fill up 2 a week and its quite a thirsty car.
Road tax................................ 18.33
Car Insurance........................... 176.00 - Switch using quidco, is it really over 2 grand a year?
This is monthly, DH has 9 points on his licence, and had a few non fault accidents over the last 2 years.
Car maintenance (including MOT)......... 20
Car parking............................. 0
Car lease............................... 196
Other travel............................ 80 - Whats this for?
This is for my travel card to work.
Childcare/nursery....................... 250 Can you get childcare vouchers from work?
Mum gave up her job to look after my baby and this is what she was being paid, so have agreed to pay her the sanme.
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 Nothing here?
Pet insurance/vet bills................. 36
Buildings insurance..................... 0 in with mortgage
Contents insurance...................... 0 in with mortgage
Life assurance ......................... 63.71
Other insurance......................... 0
Presents (birthday, Christmas etc)...... 50 Reduce this
This is high cause its my sons 1st Birthday this month.
Haircuts................................ 30 Cut your own!
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Wedding Rings........................... 92.56 All these should be on your unsecured debt list.
Debit interest on My Overdraft...........12.98 As above
Debit interest on DH Overdraft.......... 83 As above
Payment on My CC........................ 35 As above
Payment on DH CC........................ 50 As above
Student Loan ........................... 102.78 As above
Princes Trust .......................... 100.00 As above
Total monthly expenses.................. 4123.84

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900 is this right? £900 car and 2k insurance?

We own on car and least another, the car that we own os only worth 900.00 Was originally re-quoted £2500 for our multicar policy and called up and got it down to £1752.

Other assets............................ 0
Total Assets............................ 0

No Secured Debt
Unsecured Debts
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 4172.11
Expenses (including secured debts)...... 4123.84
Available for debt repayments........... 48.27
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 48.27
Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 900


I know these figures are high. Just want to do the best thing to help reduce them. Thanks for you help.

Kimonokawaii

Interne, landline and TV for £80 is still high...there's much better package deals out there..better still switch to freeview.

If the car is so thirsty...possibly switch to a car with better mpg? Or maybe downsize the car that you own? If you use a travelcard to get to work, do you need to own a car?

clearing_out_my_pockets

If your husband drives for a living, is any of the petrol claimable through expenses?