Soa Help

m.t.t

startagain wrote: »

O.K - I am not an expert like the others but we had someone in a similar position recently and I know they were advised to change things - sorry, can't remember what at this moment in time.
When the others come back on line later they will advise you I am sure.
Sorry I can't be of more help - useless sometimes!

SA

Thanks,will look forward to getting more advice!!

peachyprice

A few questions:

What is the £55 HP for?

And as you don't work you may not be able to keep your car, especially as you can't afford to run it as at £120 it's taking up half of your total income.

Where are you getting the extra £110 per month from?

m.t.t

peachyprice wrote: »

A few questions:

What is the £55 HP for?

And as you don't work you may not be able to keep your car, especially as you can't afford to run it as at £120 it's taking up half of your total income.

Where are you getting the extra £110 per month from?

The £55 hp is for a couple of laptops,i will need my car for looking for work,ie getting to interviews etc,
Im getting extra money of parents

m.t.t

I have taken the outgoings out for my car,how does this look now?


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 240
Other income............................ 0
Total monthly income.................... 240
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 55
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 40
Clothing................................ 10
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................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 5
Emergency fund.......................... 0
Total monthly expenses.................. 230

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 1180.....(55).......0
Total secured & HP debts...... 1180......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
barclays loan..................7500......158.......0
virgin credit card.............5200......125.......0
barclaycard....................444.......12........0
asda credit card...............850.......28........0
hfc............................490.......70........0
grattan catalouge..............386.......40........0
Total unsecured debts..........14870.....433.......-

Monthly Budget Summary
Total monthly income.................... 240
Expenses (including HP & secured debts). 230
Available for debt repayments........... 10
Monthly UNsecured debt repayments....... 433
Amount short for making debt repayments. -423
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -1,180
Total Unsecured debt.................... -14,870
Net Assets.............................. -13,370
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.