I need my butt kicked

Kmac_Edin

Guys

I've been AWOL for ages, things went a bit mental at home and work and as a result my DFW ways have slipped and I really need you to help get me back on track.

This is my SOA

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1402
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 150
Total monthly income.................... 1552
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 320
Management charge (leasehold property).. 0
Council tax............................. 45
Electricity............................. 41
Gas..................................... 41
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 40
TV Licence.............................. 5.5
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 25
Petrol/diesel........................... 10
Road tax................................ 20
Car Insurance........................... 32.41
Car maintenance (including MOT)......... 15
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 62
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60
Haircuts................................ 20
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1011.91

Assets
Cash.................................... 2800
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2670
Other assets............................ 5000
Total Assets............................ 10470

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................1980......40........18.9
Total unsecured debts..........1980......40........-

Monthly Budget Summary
Total monthly income.................... 1,552
Expenses (including HP & secured debts). 1,011.91
Available for debt repayments........... 540.09
Monthly UNsecured debt repayments....... 40
Amount left after debt repayments....... 500.09
Personal Balance Sheet Summary
Total assets (things you own)........... 10,470
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,980
Net Assets.............................. 8,490
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

It seems ok, with that surplus and what not but I honestly dont know where it goes!!

My medical bills seem high because I have included my gym membership in there ( £41 monthly) because this is something which I now need medically.

I think I'm just looking for some motivation and a kick up the proverbial backside!!!

K xx

boopydoo

Are you sure you only spend £10 a month on petrol? If so maybe you could do without your car. If not you need to alter the SOA- you pay more to maintain your car than you do to drive it at the minute

Pollycat

Kmac_Edin wrote: »

Guys

It seems ok, with that surplus and what not but I honestly dont know where it goes!!

My medical bills seem high because I have included my gym membership in there ( £41 monthly) because this is something which I now need medically.

I think I'm just looking for some motivation and a kick up the proverbial backside!!!

K xx

Hi Kmac
Consider your butt duly kicked (only joking).

Things do look quite good, I'd guess however that you don't have that much surplus at the end of the month.

Try keeping a spending diary, write down every penny you spend, you'll be gob-smacked at how much disappears.
Birthday cards, stamps, the odd takeout coffee, can of coke, newspaper, magazines......
If you can at least identify where the so-called spare cash goes, you can maybe start to do some thing about it.

With that amount of spare cash, you could clear your debt in 4 months.

Kmac_Edin

I use my car about once a week as I live in the centre of town and walk most places however I do need it to get to a venue which isnt on any bus route. I am thinking of selling the car in the next 6 months though once I stop having to travel every week to this one place.

I have 2 bank accounts set up, on with all my bills etc and where I leave the surplus for car etc

My other account is my "spending" so all my food money/social money goes in there.

A spending diary is a great idea, I'm going to start it ( and stick to it ) from today.

I think I may take a toddle over to Old style to see what fabby things they are coming up with these days

Any more butt kickings are truely welcome and thank you for the replies so far! x

redpete

Kmac_Edin wrote: »

Any more butt kickings are truely welcome and thank you for the replies so far! x

£60 a month on presents means a big circle of friends and family and/or too generous - cut it by 50%?

£100 a month on entertainment - ditto, cut by 50%?