Wanting to save to move back home

moppet_217

Hi

A bit of background first. I moved to the UK about 4 years ago from australia. I met my dh over here and we have a 19 month old son together.

We would like to move back to aus in the next few years (before our son starts school), but would like to go back with a large house deposit and enough to live while looking for work.

I would really appreciate some feedback on our SOA. I am not currently working as I left my job when we moved, and decided to stay at home for a while with our son. I am looking at the moment but having no luck.

Please be brutal as I know we are spending too much somewhere.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2300
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2300
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 595
Management charge (leasehold property).. 0
Council tax............................. 180
Electricity............................. 25
Gas..................................... 45
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 25
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 80- high as i am classed as new driver
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 80
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 20
Entertainment........................... 100
Holiday................................. 100
Emergency fund.......................... 50
Toddler classes and swimming ........... 50
Total monthly expenses.................. 2122

Assets
Cash.................................... 3000
House value (Gross)..................... 0
Shares and bonds........................ 1000
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 7000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................2800......60........17
Total unsecured debts..........2800......60........-

Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including HP & secured debts). 2,122
Available for debt repayments........... 178
Monthly UNsecured debt repayments....... 60
Amount left after debt repayments....... 118
Personal Balance Sheet Summary
Total assets (things you own)........... 7,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,800
Net Assets.............................. 4,200
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

gettingbetter

moppet_217 wrote: »

Hi

A bit of background first. I moved to the UK about 4 years ago from australia. I met my dh over here and we have a 19 month old son together.

We would like to move back to aus in the next few years (before our son starts school), but would like to go back with a large house deposit and enough to live while looking for work.

I would really appreciate some feedback on our SOA. I am not currently working as I left my job when we moved, and decided to stay at home for a while with our son. I am looking at the moment but having no luck.

Please be brutal as I know we are spending too much somewhere.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2300
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2300
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 595
Management charge (leasehold property).. 0
Council tax............................. 180

---

spread over 12 months
Electricity............................. 25
Gas..................................... 45
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 25
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500----way to high try OS board
Clothing................................ 50

---

cut for a few months
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 80- high as i am classed as new driver
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 80
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50---again cut back
Haircuts................................ 20
Entertainment........................... 100

---

way to high
Holiday................................. 100
Emergency fund.......................... 50
Toddler classes and swimming ........... 50
Total monthly expenses.................. 2122

Assets
Cash.................................... 3000
House value (Gross)..................... 0
Shares and bonds........................ 1000
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 7000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................2800......60........17
Total unsecured debts..........2800......60........-

Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including HP & secured debts). 2,122
Available for debt repayments........... 178
Monthly UNsecured debt repayments....... 60
Amount left after debt repayments....... 118
Personal Balance Sheet Summary
Total assets (things you own)........... 7,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,800
Net Assets.............................. 4,200
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

am no expert

they will be along later
these jumped out at me

kas xx

~Beanie~

Well the main thing that jumps out at me is £500 on groceries for two adults and a small child :eek: You should be able to halve this.

And if you really want to save hard, cutting the entertainment budget and getting rid of the holiday one would help.

moppet_217

We can't really cut the clothes budget at the moment. Our son has been going through a shoe size a month for the last 4 months so that in itslef is nearly £30 (His shoes must be new). I buy alot of his clothes from nearly new sales and buy ahead a size in the sales but even then he is now growing so quick it is costing us a fortune.

I know we really need to cut groceries alot. I meal plan and make a list but obvisouly not very well.

moppet_217

The holiday is for flights back to aus this year. I have not seen my family since i left. My pop died last month, so we really want to make an effort to get back so older relatives can met my son and I miss my mum.

I know it sounds like I am making excuses but I really need to go back.

mogchops

Hi,

As already mentioned - groceries can definitely be cut back, try meal planning, then only buy what you need for the meals! Lots of ideas on the old style boards for ideas for menus.

Childcare/nursery £80 per month? What is this for, if you are not working and looking after your son full time?

Entertainment - make your own free entertainment!! So much to do that is free - libraries often have childrens activity mornings, & some libraries also rent out DVDs, go for walks, look out for things in local press/online.

Good luck, hope all works out for you!

dangers

Have you a retail outlet near you? My two boys have always worn Clarks shoes, yet the most I've paid is £25 and that is because my oldest is 10 now, so the shoes are bigger. When they were smaller, I'm sure I paid under £20.