My SOA Slightly messy :( Any advice?

KatieShopstoomuch

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 448
Other income............................ 0
Total monthly income.................... 448

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 30
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 160
Clothing................................ 10
Petrol/diesel........................... 30
Road tax................................ 0
Car Insurance........................... 59
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 10
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)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 399


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................258.......38........27
catalogue......................680.......57........12
Catalogue 2....................309.......41........12
provident......................510.......100.......37
greenwood......................703.......40........37
Total unsecured debts..........2460......276.......-


Monthly Budget Summary
Total monthly income.................... 448
Expenses (including HP & secured debts). 399
Available for debt repayments........... 49
Monthly UNsecured debt repayments....... 276
Amount short for making debt repayments. -227

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,460
Net Assets.............................. -2,460

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

looking at it i'm in such a mess! And i can't believe how stupid i've been i had debts in the past around £3000 and managed to pay them all off and what did i do? Go and get more!! I swear this is the last time and never again! I think i may do a diary myself so that WHEN i have them paid i can look back at what a struggle it's been so i won't be tempted again.

I really can't afford these and i'm not sure what else i can do?

I've cut right back on everything i'm not buying any new clothes for me or DD unless its really needed. I switched my phoneline to save some money and now my bill is only around £30 a month. I've brought my top ups on my mobile right down to £10 a month but think for the time being i may cut them out all together.

I never buy any 'nice' things when i'm shopping now i try to stick to £40 a week but i'm finding it really hard?

As for my car it's a veryyyyyy old car and is only worth about £100 if i was to sell it, if even that. I have a fantastic family member who has kindly paid my next 6 months tax so i have kept the car but i only use it if i'm going somewhere far or for weekly shop. And usually only put £10 diesel in it per week.

I just cna't see what else to do? I'm always debateing who to pay at the end of the week? Obviously the greenwood & provident call to my home so i can't exactly say i don't have anything for them. But i'm trying to get my capital one down because it is the one that hits the most if i don't pay it charges me £30 a month......but then one of the catalogues want £57 a month and i just don't have it. I'm ebaying any old things i have......and the biggest step i've taken is to stop smoking.......mind you it is driving me insane and it's so hard when i'm stressed i just want a cigarette but i really trying not to as it would save me around £30 a week.

Sorry for rambling on i'm just not sure what else to do

RAS

Katie

Car maintence? Road tax?

There are a number of things but you will have to hold on in there untill we get more time.

We need to know about the APrs on those debts.

Do you know about ww.freecycle.org? And credit unions?

And read this http://www.moneysavingexpert.com/protect/make-money while I am away.

KatieShopstoomuch

Also i cut out my sky tv ..... i just don't know what else to cut back on.....Lectures pleaseeeeeeeee lol

KatieShopstoomuch

Ok i will look at all the APR on them and update it. Car maintenance.....I did require a new battery a few months ago but a family member paid for it, and he has paid my tax. The MOT is up in june in which case i will scrap it.....I am thinking of getting rid of it because of the insurance i'm paying..... i just don't know I'm registered with freecycle....I also looking into credit union but cannot afford to put anything in just yet until i clear the debts

TotallyBroke

KatieShopstoomuch wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1 Why do you need this?

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 448
Other income............................ 0
Total monthly income.................... 448

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0 Do you not pay this
Telephone (land line)................... 30 This is too high BT charge £11.50 per month. Does this include internet if yes please see below.
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0 Go to library or your local sure start place. They will let you use internet for free.
Groceries etc. ......................... 160 Try and shave a bit off this
Clothing................................ 10
Petrol/diesel........................... 30
Road tax................................ 0 You have to pay this
Car Insurance........................... 0 You have to pay this
Car maintenance (including MOT)......... 0 You have to pay this
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 10 What is this for?
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)...... 0 Did you not buy any presents last year for birthdays and christmas
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 330


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................258.......38........0
Catalogue......................680.......57........0
Catalogue 2....................309.......41........0
greenwood......................703.......40........0
provident......................510.......100.......0
Total unsecured debts..........2460......276.......-


Monthly Budget Summary
Total monthly income.................... 448
Expenses (including HP & secured debts). 330
Available for debt repayments........... 118
Monthly UNsecured debt repayments....... 276
Amount short for making debt repayments. -158

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,460
Net Assets.............................. -2,460

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


looking at it i'm in such a mess! And i can't believe how stupid i've been i had debts in the past around £3000 and managed to pay them all off and what did i do? Go and get more!! I swear this is the last time and never again! I think i may do a diary myself so that WHEN i have them paid i can look back at what a struggle it's been so i won't be tempted again.

I really can't afford these and i'm not sure what else i can do?

I've cut right back on everything i'm not buying any new clothes for me or DD unless its really needed. I switched my phoneline to save some money and now my bill is only around £30 a month. I've brought my top ups on my mobile right down to £10 a month but think for the time being i may cut them out all together.

I never buy any 'nice' things when i'm shopping now i try to stick to £40 a week but i'm finding it really hard?

As for my car it's a veryyyyyy old car and is only worth about £100 if i was to sell it, if even that. I have a fantastic family member who has kindly paid my next 6 months tax so i have kept the car but i only use it if i'm going somewhere far or for weekly shop. And usually only put £10 diesel in it per week.

I just cna't see what else to do? I'm always debateing who to pay at the end of the week? Obviously the greenwood & provident call to my home so i can't exactly say i don't have anything for them. But i'm trying to get my capital one down because it is the one that hits the most if i don't pay it charges me £30 a month......but then one of the catalogues want £57 a month and i just don't have it. I'm ebaying any old things i have......and the biggest step i've taken is to stop smoking.......mind you it is driving me insane and it's so hard when i'm stressed i just want a cigarette but i really trying not to as it would save me around £30 a week.

Sorry for rambling on i'm just not sure what else to do


Sorry i forgot to add in SOA .....MY monthly car insurance is £59 :-\

I'm really not sure what you can do. How old is your child is there no way you could get a job. I think you need to speak to one of the debt charities asap.

KatieShopstoomuch

Number of cars owned.................... 1 Why do you need this?

Admittedly i do only use it for the school run and only on wet days and to take my daughter to her dance school once a week.


Water rates............................. 0 Do you not pay this

At the minute no, it is being introduced in northern ireland soon though, my other rates are covered by houseing benefit.

Telephone (land line)................... 30 This is too high BT charge £11.50 per month. Does this include internet if yes please see below. Go to library or your local sure start place. They will let you use internet for free.

I had been thinking of doing this, as i study in the library once a week. Thanks. Also i don't think i can change my telephone provider for another 7 months.


Road tax................................ 0 You have to pay this
Car Insurance........................... 0 You have to pay this
Car maintenance (including MOT)......... 0 You have to pay this

Sorry i should have said, there is currently 6 months MOT left on the car, also my insurance is 59 i'm going to edit that now. And my grandfather has just paid my tax for 6 months for me. In June i intend to get rid of the car.

Other child related expenses............ 10 What is this for?
Her dance school it's the only activity she goes to now i had to take her out of her two other classes and cut back on swimming as well. Presents (birthday, christmas etc)...... 0 Did you not buy any presents last year for birthdays and christmas
Unfortunately that is the reason for my littlewoods debt, it was used for birthdays etc. and my daughters birthday. This christmas i gave mostly handmade gifts and any birthdays this year are going to be very cheap.

I did go back to work but that seemed to be when all my debt happend again, all my own fault of course, but by the time i was paying rent i was only getting an extra £10 a week, which i know is not that bad but then it came to christmas holidays and i couldn't find any childminder with places so i had to leave and go back on benefits, i miss working and am looking for something part time but i'm also studying part time and will be going full time again in September.

catherine_h_2

KatieShopstoomuch wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 448
Other income............................ 0
Total monthly income.................... 448

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 30
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 160 This is more than I pay & I feed 3 adults!Have you cut to supermarket own brand??
Clothing................................ 10
Petrol/diesel........................... 30 This is low, do you really need the car?
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 10 What are these? can they go?
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)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 330


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................258.......38........0
Catalogue......................680.......57........0
Catalogue 2....................309.......41........0
greenwood......................703.......40........0
provident......................510.......100.......0
Total unsecured debts..........2460......276.......-


Monthly Budget Summary
Total monthly income.................... 448
Expenses (including HP & secured debts). 330
Available for debt repayments........... 118
Monthly UNsecured debt repayments....... 276
Amount short for making debt repayments. -158

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,460
Net Assets.............................. -2,460

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


looking at it i'm in such a mess! And i can't believe how stupid i've been i had debts in the past around £3000 and managed to pay them all off and what did i do? Go and get more!! I swear this is the last time and never again! I think i may do a diary myself so that WHEN i have them paid i can look back at what a struggle it's been so i won't be tempted again.

I really can't afford these and i'm not sure what else i can do?

I've cut right back on everything i'm not buying any new clothes for me or DD unless its really needed. I switched my phoneline to save some money and now my bill is only around £30 a month. I've brought my top ups on my mobile right down to £10 a month but think for the time being i may cut them out all together.

I never buy any 'nice' things when i'm shopping now i try to stick to £40 a week but i'm finding it really hard?

As for my car it's a veryyyyyy old car and is only worth about £100 if i was to sell it, if even that. I have a fantastic family member who has kindly paid my next 6 months tax so i have kept the car but i only use it if i'm going somewhere far or for weekly shop. And usually only put £10 diesel in it per week.

I just cna't see what else to do? I'm always debateing who to pay at the end of the week? Obviously the greenwood & provident call to my home so i can't exactly say i don't have anything for them. But i'm trying to get my capital one down because it is the one that hits the most if i don't pay it charges me £30 a month......but then one of the catalogues want £57 a month and i just don't have it. I'm ebaying any old things i have......and the biggest step i've taken is to stop smoking.......mind you it is driving me insane and it's so hard when i'm stressed i just want a cigarette but i really trying not to as it would save me around £30 a week.

Sorry for rambling on i'm just not sure what else to do


Sorry i forgot to add in SOA .....MY monthly car insurance is £59 :-\

Hi Katie, well can I just say to begin with that it's not half as bad as mine:-) And I'm sure you can pull yourself out of it without too much trouble. Can you get a job thats under 16 hours a week while your child is at school/nursery?This shouldn't affect your benefits too much and no childcare to worry about:-) Competitions? can you combine your landline with an internet connection?? If you had the internet it would all seem a lot easier eg ebay, elance.com(if you're good at admin), support from MSEr's.
This may not be a route you want to go down but have you thought about combining the debts into 1 payment??? Or do chat line work from home, i know the thought is a bit icky but if you need the money and your child is at school or asleep it can only help.

I really do feel for you but if you can quit smoking you can do just about anything!!!!!!

Good luck :A

TotallyBroke

You may not be able to change provider but you could reduce the package tariff down.
You either need to budget in your soa the car costs or you will have to get rid of it.
Even handmade gifts cost something so you need to allow for this also.

Have a look at the up your income board and see if you can make some money to help you out.

Provident and Greenwood will be charging you massive amounts of interest so you will need to pay them off asap.

KatieShopstoomuch

Hi catherine thanks, I have the internet at home but it's combined with my phone package. i've switched to own brand and have tried making batches of mince, soups etc and freezing them but still spend around £40 a week on food. I've been entering competitions, i also tried applying to teletech for work at home but didn't get very far but then i had no experience whereas now i have a little bit of work experience in admin so i could try again.....I tried the chat lines and just couldn't do it, not confident enough on the phone lol.

I'm ebaying almost anything i can find i usually put a warning that things come from a smoking household - now i don't have to because i've stopped and fumigated the place maybe i'll get more buyers. I had thought about a few hours work, as i believe you are allowed to keep the first £20 per week before it effects benefits. I'll have to check it up thanks very much for your advice.

I had thought abotu a loan to consolidate them all and just pay the one loan, but its highly doubtful i would get one as i'm on benefits, and right now my credit rating must be hellish.....

Totally, i've added the car info to SOA now, it's just hard what to put as my grandad does pay for everything for it except the insurance/diesel......Anytime it's needed oil etc he does it, and helps with tyres (thats another story me and my 15 air pressure tyre :eek: )

I've told my family i'm in a situation and any birthdays this year they are literally getting a colouring from my daughter and something silly as i want to get out of my debt and they don't mind and always telling me not to buy anything. It's just DDs friends i need to consider.

TotallyBroke

Do not consider consolidation. The only companies that will consider you would be provident or Greenwood and you will end up paying more than 3x the amount you borrowed.
Plus you could end up spending on it again.

Yeah Grandads are great. Sometimes wish mine were still here. They'd sort me out properly. I wouldn't be in half the mess I am.

When it comes to shopping, don't buy fish fingers or chicken nuggets etc. Make your own, dd can help. You can buy some cheap fish pieces and then get her to add in some vegetables to bulk it out a bit and away you go.
Bulk out mince dinners with things like canned veg or beans. A cheap tin of broad beans in a shepherds pie could bulk it out enough for another portion.
Pick a chicken to the absolute bones every single bit of meat. You can use this in a pie or as a chunky soup (with lots of veg) also boil up the bones to make your own chicken stock. Freeze in ice cube trays and then you won't need to buy oxo or gravy granules again. Do it for all the meat joints.
One of mine and my son's favoutite dinner is pasta with tomato and sprinkled cheese. So filling and costs pennies.

Jesthar

Hey Katie,

Check out the Money Saving Old Style boards for excellent ways to save money on food - I remember one lady who fed her whole family of four on about £30 for the month after one budgeting crisis, using just what she had in the cupboards and bought essentials - and her family never realised! Personally, I eat very well, my monthly food budget is about £70 on average, and I could lower this quite a bit if I really needed to.

You should also check out the 'Up Your Income section of the boards, and EagerLearners Daily Clicks - Making Free Money From Cashback Sites thread in this forum - I've started doing paid online surveys and a few daily clicks (plus other cashback from online shopping) and although it won't make me rich I've already 'earned' getting on for £100 in about four months. OK, that money won't come through for a while yet, but every little helps!

~Jes