newbie soa. think i need help.

debtfreenewbie

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.................... 2

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1200
Benefits................................ 400
Other income............................ 200
Total monthly income.................... 1800

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 160
Electricity............................. 80
Gas..................................... 0
Oil..................................... 40
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 24
Satellite/Cable TV...................... 50
Internet Services....................... 20
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 160
Road tax................................ 20
Car Insurance........................... 50
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 60
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1854


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................32000.....170.......0
credit card....................7800......75........0
loan...........................4695......75........0
shelford oil...................200.......50........0
catalogue......................200.......20........0
mfi............................400.......10........0
hfc............................400.......20........0
loan carpet....................200.......20........0
old hp.........................1500......30........0
store card.....................200.......15........0
store card.....................1400......75........0
catalogue......................240.......40........0
bt.............................300.......11........0
Total unsecured debts..........49535.....611.......-


Monthly Budget Summary
Total monthly income.................... 1,800
Expenses (including HP & secured debts). 1,854
Available for debt repayments........... -54
Monthly UNsecured debt repayments....... 611
Amount short for making debt repayments. -665

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -49,535
Net Assets.............................. -49,035

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

McKneff

£90 on telephone, internet, cable TV:eek:
Sky give you all three for £16.50

Grocery bill is high for 2 adults and 2 children

Why no water rates

debtfreenewbie

We know our sky bil is high, we about about 70 for sky and phone.Have tried to cut it down but it doesnt seem to help.

Our water is included in our rent.
Shopping is high also although have started using a cheaper supermarket. We have a disabled son who needs to eat proper food and wont eat cheap sausages etc, also lives on fruit and veg.
We dont always spend 100 every week though.

What do u spend on shopping.?

tilly2484

I'm prob not the best person for advice as i've only been around here for a few weeks but the people on her are totally fab. Subscribe to people's diarys, join a couple of challenges- look at the stickies at the top of the forum page.

I've cut down my food shopping loads by going down a brand and getting some of the cheaper brands, gone from £70 a week for 2 adults to under £40.:T

Look at everything you can reduce. Couple of links below i was given from members on here which may help.

Good luck

http://www.whatsthecost.com/snowball.aspx?country=uk

http://www.spendingdiary.com/main.php

tilly2484

Also planning meals for the week helps cut the cost

debtfreenewbie

Just to explain my situation.We moved into a nice house three years ago and knew things were a bit tight.
My husband went an had a heart attack two years ago and was off work for 6 months.He didnt have cover on anything and we didnt get much help benefit wise.
I have had to take over all his debts which has not been easy to sort out.
I have to give up my job last year as we have a disabled son and I was finding it too hard. I only worked part time so the wages werent much.

Two years on husband still not able to sort out debts so I am trying to keep a roof above our heads while his idea is to go bankrupt.
We have two loans that our joint so I would have to go br aswell.
I am currently offering our creditors 5.00 each per month.
Well, thats our story.Thanks for any advice.

tilly2484

Have you had any proffessional advise- from citizens advice?

I'm sorry to hear of all the troubles you have had but one thing this board has shown me is some people have been really really stuck in the mud and managed to get out.

Have a proper look around the board and you'll get some great ideas. Like payment a day challenge, i've made some money selling stuff on ebay.

There are people on here who will be able to give some proper advice too.

But you should look at some people's diary's. Mine is http://forums.moneysavingexpert.com/showthread.html?p=19237561#post19237561

debtfreenewbie

I have been using the cccs and they have been great. Our situation has not improved much and cant do a dmp as no surplus.
Had a splurge yesteday in dds room and put some stuff on ebay.Fingers crossed as not had much luck before selling anything.
Im going to call sky later.

Moneylover_3

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1200
Benefits................................ 400
Other income............................ 200
Total monthly income.................... 1800

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 160 Can you take this over 12 months instead of 10... spread the cost a bit?
Electricity............................. 80
Gas..................................... 0
Oil..................................... 40
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 24 How come? Mines is only £11 a month?
Satellite/Cable TV...................... 50
Internet Services....................... 20
Groceries etc. ......................... 400 This is HUGE!!! You could half this with careful planning!! Check out the ols style board.
Clothing................................ 50 Your gonna have to cut this out for now.
Petrol/diesel........................... 160 This is alot!
Road tax................................ 20
Car Insurance........................... 50 As is this? How is it so much? Check out cashback website when renewing.
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 60 Can i ask why you need childcare if you dont work?
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0 Do you not have this?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 40 Probably gonna have to cut out for now too... your deficit is far too big!
Emergency fund.......................... 0
Total monthly expenses.................. 1854


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly.. .APR
loan...........................32000.....170...... .0
credit card....................7800......75........0
loan...........................4695......75....... .0
shelford oil...................200.......50........0
catalogue......................200.......20....... .0
mfi............................400.......10....... .0
hfc............................400.......20....... .0
loan carpet....................200.......20........0
old hp.........................1500......30........0
store card.....................200.......15........0
store card.....................1400......75........0
catalogue......................240.......40....... .0
bt.............................300.......11....... .0
Total unsecured debts..........49535.....611.......-


Monthly Budget Summary
Total monthly income.................... 1,800
Expenses (including HP & secured debts). 1,854
Available for debt repayments........... -54
Monthly UNsecured debt repayments....... 611
Amount short for making debt repayments. -665

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -49,535
Net Assets.............................. -49,035

Made a few suggestions above... good luck!!

debrag

Moneylover wrote: »

Childcare/nursery....................... 60 Can i ask why you need childcare if you dont work?

maybe a carer for their son?

bunny999

Do you need 2 cars ? Can you get rid of sky ? Stop buying clothes ? Groceries - have a look at the old style board for money saving ideas.