My SOA for my new job and new house

Sharon87

This is the first time posting an SOA. I've used it to look how my money was before, but never posted one. I will be moving to a shared house, so the bills at the minute at estimated.

I'm currently about to start a new job working at a cinema (minimum wage in London!). The only problem is the hours won't be consistant. At the interview they said it can be between 20 and 40 hours. So assume I work 40 hours this is my SOA. I haven't included entertainment yet, as that always depends how much money I have spare.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 795.37
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 795.37
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 460
Management charge (leasehold property).. 0
Council tax............................. 30
Electricity............................. 10
Gas..................................... 10
Oil..................................... 0
Water rates............................. 5
Telephone (land line)................... 8
Mobile phone............................ 10
TV Licence.............................. 4
Satellite/Cable TV...................... 8
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 52
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................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 677

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
HSBC OD........................1500......0.........0
Mum - using her OD.............170.......0.........19.5
Mum............................120.......0.........0
Total unsecured debts..........1790......0.........-

Monthly Budget Summary
Total monthly income.................... 795.37
Expenses (including HP & secured debts). 677
Available for debt repayments........... 118.37
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 118.37
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,790
Net Assets.............................. -1,790
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Atleast that's in a positive. But if I work less hours I'm going to have no money to spare. I'm also moving house so may need to use my Halifax overdraft to pay for some of the first weeks rent/deposit, which is £500 at 19.5%.

I want to pay my mum back, as she leant me money from her overdraft, which I've almost paid back. My HSBC overdraft is 0% until September, when the interest free portion goes down to £1000.

Does anyone have any suggestions on how to make more money? I will find it hard to reduce groceries though. I'm starting to ebay again.

Any other suggestions?

GrammarGirl

I think you may have underestimated your bills slightly. I'm in a shared house and gas/electric comes up more than £10 a month. And our water rate is £69!

Sorry, that's not much help but something to be wary of. As for making more money... when you find out will you let me know?!

Sharon87

Well my brother estimated the bills at £75 each for everything, which is what is up there. This is based on the 4 bedroom house and the previous tennants bills. Also we used a rough guide based on my previous 5 bedroom house. It may be more electric, less gas, but I'm pretty sure the bills overall are about right.

Edit: Bills and rent will also be less if we find a couple to go in the big room, rather than just a single person

GrammarGirl

Ok, but just remember that although more people = more to split between, it also = more useage. Are you on a water meter? That will be affected if there are more people living in the house.

There are no internet charges on your SOA, is this included with your TV or are you not planning on having the net? Also, you haven't budgeted for anything but the absolute essentials. I tried to do this but found it extremely hard to have ZERO fun in my life.

Sharon87

Internet is free with Sky if we use them for Sky Talk. As I mentioned my entertainment all depends on how much money I have spare. I have a free Lovefilm subscription at the minute (for a few more weeks anyway), then we're starting another one at the new house! I also have Sky TV. I have a really boring life at the minute lol. In the summer is when I do more (motorsport events mostly).

I'll need to budget for a haircut, it's starting to get quite long! lol I also need to start my holiday saving for Florida in 2011, I need atleast £2000!

I'm definetely looking for a different job lol, even though I haven't started this one yet!

GrammarGirl

Aaah I know what you mean. I am in a similar situation... I'm further along than you (have been graduated longer) and I do work in my chosen industry, but it all boils down to the same thing - how much money do I have and I wish I didn't have this overdraft!

Hindsight is a glorious thing. Good luck with it all, I hope you manage to get a related job soon.

Sharon87

Me too! i've just been told by Vue that my rate of pay is different to what I expected! :mad: It's £5.10 an hour because I'm 3 months short of being 22!

That's a ridiculously low wage. I haven't been on a wage that low since I was 18 when I was in college! :mad: I'm going to try and negotiate the wage with the person who interviewed me, if she phones me back. If not I'll be phoning her back.

I think it's ridiculous that they can pay 21 and 22 years olds different wages, or even any age. Everyone's doing the same job. I miss Asda, they paid 16 year olds the same as 22 year olds. I wonder if that's why Vue hired me, cause I'm 21, not 22 or over. I even lowered my own minimum wage from £6/hour so I could get a job.

Right more job searching! Atleast it will be something for now. I'm worth more than £5 f*ing 10!

Rant over.

Lara44

Hi Sharon,

There are loads of trainee hairdressers on gumtree advertising for practice models - so you could get a nice hair cut for free? My last one was good, and I also got a head massage.

It's rubbish having a low wage, I was £6 for years. I would love to be your age starting out again. If I could do it all again I'd get an evening job and do work experience internships for 2 days a week or something. It helps so much to get your foot in the door that way.

I'm not starting back at work until mid-March so just doing all the free things London has to offer. Good luck x

Sharon87

Right a new SOA. Here's my new wage. But also I've done a quick benefit check, and I'll get some, which is good. I would have got some help on the slightly higher wage too:

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 760.59
Partners monthly income after tax....... 0
Benefits................................ 38.2
Other income............................ 0
Total monthly income.................... 798.79
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 460
Management charge (leasehold property).. 0
Council tax............................. 30
Electricity............................. 10
Gas..................................... 10
Oil..................................... 0
Water rates............................. 5
Telephone (land line)................... 8
Mobile phone............................ 10
TV Licence.............................. 4
Satellite/Cable TV...................... 8
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 52
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................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 677

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
HSBC OD........................1500......0.........0
Mum OD.........................170.......0.........19.5
Mum............................120.......0.........0
Total unsecured debts..........1790......0.........-

Monthly Budget Summary
Total monthly income.................... 798.79
Expenses (including HP & secured debts). 677
Available for debt repayments........... 121.79
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 121.79
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,790
Net Assets.............................. -1,790
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

This is ok if I work the full 40 hours.

Lara - the free hair cut sounds ok, but my hair's really fragile at minute and don't want to risk trainees ruining what's left of it!! If my mum wants me back to help clear out her house (she's moving), I can get a cheap hair cut from my usual hairdressers (not in London), so it will be cheaper

I hate not working, and I'm going to hate working for the worst wage I've had in a while.

Right off to get some chocolate... cheer me up a bit!

gratefulforhelp_2

Enjoy this fab time in your life. What about emailing your CV to employment agencies with hours you are free? Lots of casual work available to flexible workers in capital city. Good luck.

Nanny Ogg says be sure to get the young man's name and address, and grateful says get his NI number too!!!

Sharon87

gratefulforhelp wrote: »

Enjoy this fab time in your life. What about emailing your CV to employment agencies with hours you are free? Lots of casual work available to flexible workers in capital city. Good luck.

Nanny Ogg says be sure to get the young man's name and address, and grateful says get his NI number too!!!

I've registered with one agency who is really quiet, the others aren't taking on any new people

I can survive on this wage, I'll just have to be frugal with money. I thought getting a job meant I can pay off some debt and occassionally treat myself! Oh well, atleast it's (hopefully) more than JSA and Housing Benefit lol.