We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Wanting to move -SOA - Please analyse!!
EmilyCo
Posts: 2 Newbie
Here is my SOA-
We are wanting to move but think it might be best to wait 2 years to get ourselves in a better position financially.
Am a full time student so recieve loans/grants of 7K a year too, which we have used to save but might be better paying off mortgage??
Any advice would be great,
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.................... 1
Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 1100
Benefits................................ 295
Other income............................ 100
Total monthly income.................... 2295
Monthly Expense Details
Mortgage................................ 600
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 172
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 30
Gas..................................... 23
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 12
Mobile phone............................ 47
TV Licence.............................. 12
Satellite/Cable TV...................... 47
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 70
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 70
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 5
Buildings insurance..................... 5
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1618
Assets
Cash.................................... 12500
House value (Gross)..................... 105000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 120500
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 88616....(600)......5.69
Hire Purchase (HP) debt ...... 6000.....(172)......8.4
Total secured & HP debts...... 94616.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,295
Expenses (including HP & secured debts). 1,618
Available for debt repayments........... 677
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 677
Personal Balance Sheet Summary
Total assets (things you own)........... 120,500
Total HP & Secured debt................. -94,616
Total Unsecured debt.................... -0
Net Assets.............................. 31,884
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
We are wanting to move but think it might be best to wait 2 years to get ourselves in a better position financially.
Am a full time student so recieve loans/grants of 7K a year too, which we have used to save but might be better paying off mortgage??
Any advice would be great,
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.................... 1
Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 1100
Benefits................................ 295
Other income............................ 100
Total monthly income.................... 2295
Monthly Expense Details
Mortgage................................ 600
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 172
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 30
Gas..................................... 23
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 12
Mobile phone............................ 47
TV Licence.............................. 12
Satellite/Cable TV...................... 47
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 70
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 70
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 5
Buildings insurance..................... 5
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1618
Assets
Cash.................................... 12500
House value (Gross)..................... 105000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 120500
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 88616....(600)......5.69
Hire Purchase (HP) debt ...... 6000.....(172)......8.4
Total secured & HP debts...... 94616.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,295
Expenses (including HP & secured debts). 1,618
Available for debt repayments........... 677
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 677
Personal Balance Sheet Summary
Total assets (things you own)........... 120,500
Total HP & Secured debt................. -94,616
Total Unsecured debt.................... -0
Net Assets.............................. 31,884
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
0
Comments
-
Here is my SOA-
We are wanting to move but think it might be best to wait 2 years to get ourselves in a better position financially.
Am a full time student so recieve loans/grants of 7K a year too, which we have used to save but might be better paying off mortgage??
Any advice would be great,
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.................... 1
Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 1100
Benefits................................ 295
Other income............................ 100
Total monthly income.................... 2295
Monthly Expense Details
Mortgage................................ 600
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 172
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 30
Gas..................................... 23
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 12
Mobile phone............................ 47 - cut these down
TV Licence.............................. 12
Satellite/Cable TV...................... 47 - bundle with phone and internet/ cut out or down
Internet Services....................... 0
Groceries etc. ......................... 250 - meal plan you may be able to cut this
Clothing................................ 70 - you can't afford these
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 70
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 5
Buildings insurance..................... 5
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1618
Assets
Cash.................................... 12500
House value (Gross)..................... 105000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 120500
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 88616....(600)......5.69
Hire Purchase (HP) debt ...... 6000.....(172)......8.4
Total secured & HP debts...... 94616.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,295
Expenses (including HP & secured debts). 1,618
Available for debt repayments........... 677
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 677 - where does this go?
Personal Balance Sheet Summary
Total assets (things you own)........... 120,500
Total HP & Secured debt................. -94,616
Total Unsecured debt.................... -0
Net Assets.............................. 31,884
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
how much of the £677 do you save?
you aren't in any financial trouble as far as I can see0
This discussion has been closed.
Categories
- All Categories
- 346.6K Banking & Borrowing
- 251.3K Reduce Debt & Boost Income
- 451.4K Spending & Discounts
- 238.7K Work, Benefits & Business
- 614.1K Mortgages, Homes & Bills
- 174.7K Life & Family
- 251.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards