Newbie SOA help please.

LittleMissKitty

Hi, I've finally decided that instead of starting another expensive new obsession I'd start doing something slightly more useful and SAVE money instead of spending it. My husband has recently been told he's to be made redundant which was a bit of a kick up the @rse for me to grow up a bit and get my spending in check before it started causing real problems. We're quietly confident he'll get a position paying a similar salary so I've posted the SOA assuming we keep the same money coming in. Any help would be much appreciated - debts are listed in my sig.

edit: totally forgot to include the overdraft! Currently at £1600 but aiming to pay it off with DH's redundancy payment as they'll cancel each other out.


Cheers, Kitty


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1404
Partners monthly income after tax....... 280
Benefits................................ 500
Other income............................ 0
Total monthly income.................... 2184
Monthly Expense Details
Mortgage................................ 450
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 135
Electricity............................. 45
Gas..................................... 65
Oil..................................... 0
Water rates............................. 22
Telephone (land line)................... 10
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 18
Internet Services....................... 10
Groceries etc. ......................... 325
Clothing................................ 0
Petrol/diesel........................... 175
Road tax................................ 16
Car Insurance........................... 37
Car maintenance (including MOT)......... 10
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..................... 26
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1386

Assets
Cash.................................... 0
House value (Gross)..................... 175000
Shares and bonds........................ 350
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 176350

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 133000...(450)......2.24
Total secured & HP debts...... 133000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
In-laws........................1400......0.........0
Parents........................8500......0.........0
Total unsecured debts..........9900......0.........-

Monthly Budget Summary
Total monthly income.................... 2,184
Expenses (including HP & secured debts). 1,386
Available for debt repayments........... 798
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 798
Personal Balance Sheet Summary
Total assets (things you own)........... 176,350
Total HP & Secured debt................. -133,000
Total Unsecured debt.................... -9,900
Net Assets.............................. 33,450
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

~Beanie~

According to your SOA, you have almost £800 spare each month!! Is that right? If so, you should be able to get your debt paid off quite quickly.

Saying that, you haven't budgeted anything for haircuts or entertainment, and presents also seems low at only £120 per year with 3 kids?

LittleMissKitty

I've just looked back over it and made some massive typos :doh:I'm gonna try again......... thanks for posting!

A very embarassed Kitty.

LittleMissKitty

Can anyone (moderators?) delete this thread for me please? I've started a new one without the typos.

Sorry sorry sorry. Kitty