Crisp £ note lightbulb moment!

Crisp_£_note

Hello everyone newbie here wanting to start tackling their debts!

Having read the boards for a couple of days I decided to get started so here is my pitiful SOA :


MY SOA February 2009:

Number of adults in household........... 2
Number of children in household......... 0
Number of pets in household - 2 dogs & a tank of fish

Monthly Income Details:

Monthly income after tax................ 0
Partners monthly income after tax....... 40
Benefits................................ 706.32
Other income............................ 0

Total monthly income.................... 746.32

Monthly Expense Details:

Rent.................................... 180 - on top of benefit
Council tax............................. 43 - on top of benefit
Electricity............................. 86 - combined bill
Gas..................................... 86 - combined bill total = £172 a month
Water rates............................. 39 - Waste + Supply
Telephone (land line)................... 22 - includes line rental and calls.
Mobile phone............................ 10 - Top up not contract
TV Licence.............................. 11.95
Satellite/Cable TV...................... 31 - (£21 package Sky+ & Multiroom)
Internet Services....................... 14.99
Groceries etc. ......................... 240 - 2 adults & 2 dogs
Pet insurance/vet bills................. 30 - 2 x dogs insurance
Contents insurance...................... 20.12

All bills are up to date
Total monthly expenses.................. 814.06

No Secured nor Hire Purchase Debts

Unsecured Debts:

All repayments ar up todate but I am now struggling.
Description....................Debt......Monthly
Loan 1.........................144.......29
Loan 2.........................994.......24
Loan 3.........................346.......12

Total unsecured debts...1484......65 :eek:

Monthly Budget Summary:

Total monthly income.................... 746.32

Expenses (including HP & secured debts). 814.06
Available for debt repayments........... -67.74
Monthly UNsecured debt repayments....... 65
Amount short for making debt repayments. -132.74 :eek:

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,484
Net Assets.............................. -1,484
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.




My husbands income based on his recent Tax assessment was £40 a month last year and with the state of the economy as it is now I think it is unlikely to improve but possibly worsen this year!

I am not going to include his SOA as finacially we live separately to be honest (I pay for the roof over our heads he pays for his business overheads and van) but I am aware of his income and expenditure. I think it is unfair to post his personal SOA on here without his permission and if he really wants to he should do it himself and deal with his own debts. :rolleyes:

Many thanks in advance

RAS

Does he make no contribution to the rent or running expenses?

Crisp_£_note

RAS wrote: »

Does he make no contribution to the rent or running expenses?

His contribution is his Working Tax Credits. All other earnings he have to go back into his business to pay overheads.

Thanks

Forris

If you're on a Sky TV package then the cheapest way to get phone and broadband is with them. Prices from £0(zero!) per month.

LilacPixie

your gas and electricity are huge. is this arrears? TBH you cannot afford the £68 you are paying for sky/net/phone any you could make savings on your grocery bills.

Crisp_£_note

Forris wrote: »

If you're on a Sky TV package then the cheapest way to get phone and broadband is with them. Prices from £0(zero!) per month.

Thanks for the advice, I will go and see what they can do for me.

I am currently with Tesco for Homephone and Broadband at 'Value' rates but I do make use of the Clubcard vouchers I get in return as they pay for Christmas and Birthday gifts and when necessary clothing.


Thank you

Caroline73_2

Can I ask why you aren't working? You could easily cut your grocery bill down. I'm not sure how much dogs cost but we spend £200 on two adults and two children.

Good luck!

Crisp_£_note

LilacPixie wrote: »

your gas and electricity are huge. is this arrears? TBH you cannot afford the £68 you are paying for sky/net/phone any you could make savings on your grocery bills.

Thanks. I am in arrears with eon / Powergen. They say it is due to cancelled direct debits so have fallen behind with payments. I don't understand how though My Direct Debits have been going out up to December 08 each month. I cancelled one this month before they took the payment as it prevented it causing trouble with my bank account so I cancelled it before they took it.

I have just been on the phone to Eon who have taken a look at the situation and have re set a new Direct Debit at £121. per month for combined fuel.

They said my monthly consumption is £38 Gas and £44 Electric so an average usage of £82. a month.

They are also sending me a payment card so if I have any spare money I can pay a bit more off what I owe at the post office. Apparantly I am in arrears of £724.08p :eek:

The only other option was a prepayment meter but as we are in a rented property I am not sure that will be allowed by landlord. They are also now aware I am on longterm IB.

Thank you

Caroline73_2

Don't go onto prepayment meter if you can help it as they charge you more I believe. Going to £121 is a better payment. Check tht you are in arrears, my parents had huge problems with powergen.

Crisp_£_note

Caroline73 wrote: »

Can I ask why you aren't working? You could easily cut your grocery bill down. I'm not sure how much dogs cost but we spend £200 on two adults and two children.

Good luck!

Thanks.

I am on longterm IB for Ankylosing Spondylitis a degenerative condition of the spine.

Dog food and treats costs £5 a week at value costs plus they get scraps mixed in from us and friends and family.

So £220 is for me and hubby but its still better than it was last year :beer:

Thank you

Crisp_£_note

Caroline73 wrote: »

Don't go onto prepayment meter if you can help it as they charge you more I believe. Going to £121 is a better payment. Check tht you are in arrears, my parents had huge problems with powergen.

Thank you I will be looking at my Direct Debits and double checking now you have said this.