First go at SOA- please comment..

brumvixen

Going BK on 27th February with DH and just having my first go at my SOA. Can you all comment please. There is me DH and two children under 3, one of which has special needs (Downs Syndrome). She goes to a special nursery once a week in term time which is an hour away and has lots of other appointments each week hence the high petrol costs. I haven't included Sky and Internet as I believe these are not allowed. Also, not exacty sure of DH income as he has just changed jobs and won't get a full month's pay until after we are BK so just had to guess on last months part pay.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 800
Benefits................................ 1350
Other income............................ 0
Total monthly income.................... 2150
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 850
Management charge (leasehold property).. 0
Council tax............................. 125
Electricity............................. 40
Gas..................................... 0
Oil..................................... 80
Water rates............................. 56
Telephone (land line)................... 20
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 100
Petrol/diesel........................... 200
Road tax................................ 15
Car Insurance........................... 40
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 9
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 45
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2109

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly.. .APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,150
Expenses (including HP & secured debts). 2,109
Available for debt repayments........... 41
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 41
Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,000

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

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Zandytobedebtfree

Hi brumvixen

This is a bit of a hard one, as you are not sure what DH pay will be exactly!!

Mobile phone costs are not really allowed, but you could increase Telephone to £60 if needed.

Does your Benefit amount include Child Benefit?

Does your Contents Insurance include Accidental Damage, as a very good idea once BR!!! And also do you have Breakdown cover?? As very useful too!!!

You have put nothing in for Other child related expenses - You are allowed £5 per child per week, for them to do an Activity!!

Can increase Haircuts to £26 as £10 per Adult & £3 per child.

The Life Assurance - OR may have an interest in this.

Water rates seem a bit high, are you on a Meter?

That is all I can see at moment, but others will be along shortly to help too.

robsimps53

hi i have done an SOA but included my debts, if you dont mind me asking what debts do you have

did you not include them because you are no longer paying them

nervousmother

Only include your secured debts on your SOA the unsecured ones wont be there after BR

robsimps53

ah right thats where i went wrong then, i will do another one

thanks

brumvixen

I'm not including mine as I'm not paying them and handing back the keys....
Can anyone else help with the figures? Do they look ok?

Vix xx