My SOA

fuzzipeg

I realise from the statement below that it doesn't look like we should be in any trouble financially, but my husband has been unemployed for a month now, so I thought I'd run this past you to see if you clever folk could see anywhere else in the budget we might trim down - I think I've pretty much got it pared to the bare bones. I haven't included JSA for my husband yet, as we still (?!) have not had confirmation of payment as they are backed up with claims down our way.

Despite it looking like there's money left over every month, there never seems to be much, so we're keeping a spending diary now to work out where the missing millions end up... I suspect it's nights in the pub, followed by the odd takeaway that's doing the damage.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2350
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2350

Monthly Expense Details
Mortgage................................ 850
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 15 - metered, in credit
Gas..................................... 18 - metered, in credit
Oil..................................... 0
Water rates............................. 15 - on a meter, actually using about £13 a month
Telephone (land line)................... 13
Mobile phone............................ 40 - for 2 'phones
TV Licence.............................. 0 - no TV
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 200 - buy in massive bulk every 6-8 weeks and do a mammoth cook-n-freeze. Includes my filthy cancer-sticks
Clothing................................ 20 - prob ought to have something in the budget, but honestly don't often buy clothes!
Petrol/diesel........................... 30
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 50 - most travel paid for by work at the moment - social travel only
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 35
Pet insurance/vet bills................. 0
Buildings insurance..................... 9
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 200 - includes odd book, game, dvd which should go really at the mo...
Holiday................................. 50
Emergency fund.......................... 100
Total monthly expenses.................. 1905


Assets
Cash.................................... 4000
House value (Gross)..................... 225000 - be surprised though if it's STILL worth this!
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 234000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 190000...(850)......5.19
Total secured & HP debts...... 190000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Car Loan.......................c.3500......350......8.9
Amex...........................c.1000......50........19.9 This is used for company exes and is usually repaid in full each month
Total unsecured debts..........4500......400........-


Monthly Budget Summary
Total monthly income.................... 2,350
Expenses (including HP & secured debts). 1,905
Available for debt repayments........... 445
Monthly UNsecured debt repayments....... 400
Amount left after debt repayments....... 45

Personal Balance Sheet Summary
Total assets (things you own)........... 234,000
Total HP & Secured debt................. -190,000
Total Unsecured debt.................... -1,000
Net Assets.............................. 43,000

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

rubyslipper

fuzzipeg wrote: »

I realise from the statement below that it doesn't look like we should be in any trouble financially, but my husband has been unemployed for a month now, so I thought I'd run this past you to see if you clever folk could see anywhere else in the budget we might trim down - I think I've pretty much got it pared to the bare bones. I haven't included JSA for my husband yet, as we still (?!) have not had confirmation of payment as they are backed up with claims down our way.

Despite it looking like there's money left over every month, there never seems to be much, so we're keeping a spending diary now to work out where the missing millions end up... I suspect it's nights in the pub, followed by the odd takeaway that's doing the damage.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2350
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2350

Monthly Expense Details
Mortgage................................ 850
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 15 - metered, in credit
Gas..................................... 18 - metered, in credit
Oil..................................... 0
Water rates............................. 15 - on a meter, actually using about £13 a month
Telephone (land line)................... 13
Mobile phone............................ 40 - for 2 'phones
TV Licence.............................. 0 - no TV
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 200 - buy in massive bulk every 6-8 weeks and do a mammoth cook-n-freeze. Includes my filthy cancer-sticks
Clothing................................ 20 - prob ought to have something in the budget, but honestly don't often buy clothes!
Petrol/diesel........................... 30
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 50 - most travel paid for by work at the moment - social travel only
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 35
Pet insurance/vet bills................. 0
Buildings insurance..................... 9
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 200 - includes odd book, game, dvd which should go really at the mo...
Holiday................................. 50
Emergency fund.......................... 100
Total monthly expenses.................. 1905


Assets
Cash.................................... 4000
House value (Gross)..................... 225000 - be surprised though if it's STILL worth this!
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 234000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 190000...(850)......5.19
Total secured & HP debts...... 190000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Amex...........................c.1000......50........19.9 This is used for company exes and is usually repaid in full each month
Total unsecured debts..........1000......50........-


Monthly Budget Summary
Total monthly income.................... 2,350
Expenses (including HP & secured debts). 1,905
Available for debt repayments........... 445
Monthly UNsecured debt repayments....... 50
Amount left after debt repayments....... 395

Personal Balance Sheet Summary
Total assets (things you own)........... 234,000
Total HP & Secured debt................. -190,000
Total Unsecured debt.................... -1,000
Net Assets.............................. 43,000

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Hi Fuzzipeg

Welcome to the boards! Well done for getting your SOA up - that's exactly what everyone would have asked for!

You're absolutely right in that you seem to have trimmed down a lot of stuff i.e. metering your leccy etc and buying in bulk so there's not much to say from my point of view except perhaps that the holiday fund should be abandoned for now and I have a feeling your entertainment allowance is likely to be a lot higher than you've shown there. It's feasible if you do actually keep your entertainment budget at £200 per month/roughly £50 per week you might be OK.

In the meantime have you thought about ebaying stuff you no longer need to free up some more space/cash?

Ruby x

fuzzipeg

Thanks Ruby - I think you were posting while I was remembering the dreaded car loan, which massively reduces the money left at the end of the month - I think I've just spotted where the money goes! We're not ever overdrawn at the end of the month (early days of unemployment yet!) and I won't buy needless stuff on credit, so I *think* the entertainment budget is probably about right, possibly on the low side.

We're going to keep a spending diary over the next few weeks to work out exactly where that "loose" money is going - it's important to still have a social life, but not at the expense of the mortgage!

fuzzipeg

Oh, yeah - I've got DH ebaying stuff this week - I would ebay him (and his squillion books!) if I thought anyone would pay In absence of that his collectors' cards and other junk can go...

And have just taken on an allotment, so hope that the grocery bill will fall, though I doubt we'll notice much difference until June at the earliest.