can anyone calculate soa please for IPA

Queen

Monthly Income Details[/b]
Monthly income after tax................ 1425
Partners monthly income after tax....... 1180
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2605

Monthly Expense Details
Mortgage................................ 285
Secured/HP loan repayments.............. 120
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 100
Gas..................................... 155
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 42
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 570
Clothing................................ 155
Petrol/diesel........................... 100
Road tax................................ 30
Car Insurance........................... 58
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 128
Childcare/nursery....................... 53
Other child related expenses............ 68
Medical (prescriptions, dentist etc).... 48
Pet insurance/vet bills................. 20
Buildings insurance..................... 14
Contents insurance...................... 14
Life assurance ......................... 20
Other insurance......................... 35
Presents (birthday, christmas etc)...... 20
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 2345


Assets
Cash.................................... 0
House value (Gross)..................... 16000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 18000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(285)......0
Secured Debt.................. 17000....(120)......0
Total secured & HP debts...... 182000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,605
Expenses (including HP & secured debts). 2,345
Available for debt repayments........... 260
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 260

Personal Balance Sheet Summary
Total assets (things you own)........... 18,000
Total HP & Secured debt................. -182,000
Total Unsecured debt.................... -0
Net Assets.............................. -164,000

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

clanbailey

hiya regarding single or joint soa - I did single ones each having a contribution from the others income but when spoke to OR she said ah give me a joint and full income / expenditure and did it from that over the phone, luckly I had done a joint one on my pc just in case so be prepared for that - think the OR's are so busy they just want to keep things simple
:O)

Queen

If they want a single soa for each of us can someone work out our contributions I am having a tick day and cann't work it out

Queen

So my IPA may be £156 per month

fiveyearplan

I'd leave internet in for work children's homework - some ORs allow some don't.

Queen

Ok does everything else look ok calculated an IPA of 156 this is whilst the mortgage rate is low but as soon as it starts to increase my mortgage will go up. have I missed anything

Queen

Anything that I have missed off SOA

Queen

Anybody!!!!

fiveyearplan

As I mentioned in an earlier post - I'd leave in internet and say you need it for work/study.

Queen

Hi thanks yes I will put £10 back in for internet son does need for school homework, my friend as no internet and I have to print the info off for him, also my older son is in second college doing IT and Media and will go on to do 3rd year in Sept so we will see what they say