Help!

naughty_10382

Hi all.

Having just realised I am barely keeping my head above water these days (Would this class as a LBM???), I thought I'd look for some support and guidance.

I don't have much debt (luckily), I have a loan which will be paid off next January (fixed monthly repayments), and a small amount on a credit card.

I have done a SOA, pasted below, which shows I am still in the black, but only just. If anyone can see where I could save money, I'd be grateful for any advice.

I have thought about a second job, but I'm not sure how feasible this is as i work very odd hours as it is and my shifts can change with the wind!

Anyway, thanks for reading so far, I'll try to clarify anything that isn't clear if anyone asks me to.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1050
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 35
Gas..................................... 0
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 53
Car maintenance (including MOT)......... 5
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...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 0
Entertainment........................... 5
Holiday................................. 0
Emergency fund.......................... 0
Loan Repayments......................... 233
Total monthly expenses.................. 1021

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................295.......5.........0
Total unsecured debts..........295.......5.........-

Monthly Budget Summary
Total monthly income.................... 1,050
Expenses (including HP & secured debts). 1,021
Available for debt repayments........... 29
Monthly UNsecured debt repayments....... 5
Amount left after debt repayments....... 24
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -295
Net Assets.............................. 3,705
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Candy0107

naughty_10382 wrote: »

Hi all.

Hi, Welcome to the board

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1050
Total monthly income.................... 1050
Monthly Expense Details
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 35
Water rates............................. 25
Mobile phone............................ 20 - is this contract or PAYG - if a contract, how long until you can change to PAYT. Do you use all your minutes? Can you chat to friends on Facebook/Email?
Internet Services....................... 15 - can you get this cheaper?
Groceries etc. ......................... 40
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 53 - when is this due?...go through Quidco for this, you might find a cheaper quote, but will earn cahsback
Car maintenance (including MOT)......... 5
Contents insurance...................... 10 - when is this due?...go through Quidco for this, you might find a cheaper quote, but will earn cahsback
Presents (birthday, christmas etc)...... 5
Entertainment........................... 5
Loan Repayments......................... 233
Total monthly expenses.................. 1021

Assets
Car(s).................................. 4000
Total Assets............................ 4000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................295.......5.........0
Total unsecured debts..........295.......5.........-

Monthly Budget Summary
Total monthly income.................... 1,050
Expenses (including HP & secured debts). 1,021
Available for debt repayments........... 29
Monthly UNsecured debt repayments....... 5
Amount left after debt repayments....... 24
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -295
Net Assets.............................. 3,705
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

I am sure that some more experienced MSE's will be on the board a bit later, but wanted to say Hi.

Take care
Candy x

tealady

Hi and welcome. Your food seems low but well done you if thats what you are spending
Make sure you are getting the cheapest petrol locally by looking at https://www.petrolprices.com

naughty_10382

Candy - my phone is a month to month contract. i use approx 400 out of 600 minutes and about 1/4 to 1/3 of my text allowance.

My internet is a 2 year contract and I've only had it 2 months.

Car ins due Dec and is high because I needed to pay monthly this year and I had a couple of minor accidents in 2007. Contents ins is due next feb.

tealady - I actually thought my food spend was too high for just me! And yes I do check petrolprices.com.

Thanks for the advice so far