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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
SOA - Please Help if you can

gerryjo1984
Posts: 10 Forumite
[tt]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................ 1030
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 390
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 108
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 25
Gas..................................... 0
Oil..................................... 50
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 50
TV Licence.............................. 6
Satellite/Cable TV...................... 36
Internet Services....................... 50
Groceries etc. ......................... 140
Clothing................................ 0
Petrol/diesel........................... 220
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 40
Other travel............................ 0
Childcare/nursery....................... 0
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)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 815
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan ..........................7630......211.8.....0
loan...........................8790......283.5.....0
vanquis........................204.36....10........39.9
cap 1..........................390.37....20........15.9
mint...........................324.......20........16.9
egg............................978.71....40........16.9
barclay........................244.79....10........12.4
Total unsecured debts..........18562.23..595.3.....-
Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 815
Available for debt repayments........... 605
Monthly UNsecured debt repayments....... 595.3
Amount left after debt repayments....... 9.7
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,562.23
Net Assets.............................. -16,562.23
[/tt]
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................ 1030
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 390
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 108
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 25
Gas..................................... 0
Oil..................................... 50
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 50
TV Licence.............................. 6
Satellite/Cable TV...................... 36
Internet Services....................... 50
Groceries etc. ......................... 140
Clothing................................ 0
Petrol/diesel........................... 220
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 40
Other travel............................ 0
Childcare/nursery....................... 0
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)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 815
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan ..........................7630......211.8.....0
loan...........................8790......283.5.....0
vanquis........................204.36....10........39.9
cap 1..........................390.37....20........15.9
mint...........................324.......20........16.9
egg............................978.71....40........16.9
barclay........................244.79....10........12.4
Total unsecured debts..........18562.23..595.3.....-
Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 815
Available for debt repayments........... 605
Monthly UNsecured debt repayments....... 595.3
Amount left after debt repayments....... 9.7
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,562.23
Net Assets.............................. -16,562.23
[/tt]
0
Comments
-
welcome
There are different sorts of SOAs and I am going to be mean. Others may be kinder but this gives you an idea of what is possible.gerryjo1984 wrote: »[tt]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................ 1030
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 390
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 108
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 25
Gas..................................... 0
Oil..................................... 50
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 50 - this is high - cut your package and then consider PaYG
TV Licence.............................. 6 - this is low are you house sharing?
Satellite/Cable TV...................... 36 - get rid and use freeview
Internet Services....................... 50 - this is massive. check bundles and swap, preferably via a cashback site like www.quidco.com.
Groceries etc. ......................... 140 - Ok but for one yoyu could skin a few quid off this in the short term
Clothing................................ 0
Petrol/diesel........................... 220 - do you have to make all these journeys and can you reclaim any from work?
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 40
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 - you need this
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 815
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan ..........................7630......211.8.....0 - ????
loan...........................8790......283.5.....0 ???
vanquis........................204.36....10........39.9 - you pay
every brass farthing off this account and then close it
cap 1..........................390.37....20........15.9
mint...........................324.......20........16.9
egg............................978.71....40........16.9
barclay........................244.79....10........12.4
Total unsecured debts..........18562.23..595.3.....-
Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 815
Available for debt repayments........... 605
Monthly UNsecured debt repayments....... 595.3
Amount left after debt repayments....... 9.7
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,562.23
Net Assets.............................. -16,562.23
[/tt]
You need to cut smalll amounts off your monthly spends and put them all to your most expensive debt -currently vanquis.
Please play with the snowball on www.whatsthecost.com and you will see what effect an extra tenner has over time.If you've have not made a mistake, you've made nothing0 -
gerryjo1984 wrote: »[tt]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................ 1030
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 390
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 108
Management charge (leasehold property).. 0
Council tax............................. 0 should you be paying council tax?
Electricity............................. 25
Gas..................................... 0
Oil..................................... 50
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 50 can this be reduced? go on to payg.
TV Licence.............................. 6
Satellite/Cable TV...................... 36 do you really need this? get freeview or at least go down to the lowest possible tariff
Internet Services....................... 50 really?!? I thought mine was high at £14 per month. You can get integrated packakges with phone, tv etc or just get a cheaper 'net deal.
Groceries etc. ......................... 140 you can reduce this. Have a look at the old style board. Learn to cook from scratch; freeze portions; meal plan; go down a brand when you are shopping. Lots of ways to save here. JOin the grocery challenge.
Clothing................................ 0
Petrol/diesel........................... 220 can you use alternative transport?
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 40
Other travel............................ 0
Childcare/nursery....................... 0
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)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 815
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan ..........................7630......211.8.....0
loan...........................8790......283.5.....0
vanquis........................204.36....10........39.9 make this your priority debt. IT is the smallest and the highest apr - it will feel great when it goes.
cap 1..........................390.37....20........15.9
mint...........................324.......20........16.9
egg............................978.71....40........16.9
barclay........................244.79....10........12.4
Total unsecured debts..........18562.23..595.3.....-
Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 815
Available for debt repayments........... 605
Monthly UNsecured debt repayments....... 595.3
Amount left after debt repayments....... 9.7
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,562.23
Net Assets.............................. -16,562.23
[/tt]
HI
Please see my comments above.
There are ways to shave at least £100 per month.
You should also look at the reasons why you have got into debt. Learn about your spending habits so that you can avoid falling back into the same holes.
Then you need to look at ways to make some cash to throw at the debts. What can you sell? Use ebay/amazon/carboots etc. Can you get over time at work?
Just a few thoughts.
Good luck with your DFW journey.
urg x x0 -
council tax - i live in northern ireland so no.
phone - it can be reduced a bit so i will look into this
satellite/cable - i get setanta and sky so i guess it will have to be reduced
net - i signed up with bt at a previous address just before i moved and they wouldnt change it so i am paying two deals
groceries- i dont do the shop but pay half, will have to see about getting reduced
petrol - i live in a remote area and would have to travel 15 miles by car anyway and save very little anyway. i also work two jobs and the public transport doesnt fit around it.
tv license - yes i house share
a big part of my debt is food related, i spend a lot of money at work on food and drinks.
overtime was available but has now been stopped.0 -
gerryjo1984 wrote: »[tt]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................ 1030
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 390
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 108 - This is cheap, do you share or something?
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 25
Gas..................................... 0
Oil..................................... 50
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 50 - Can be lowered
TV Licence.............................. 6 - Should be more than this unless this is just a share
Satellite/Cable TV...................... 36 - Can be lowered or even cut completely
Internet Services....................... 50 - HOW MUCH????? For what exactly?
Groceries etc. ......................... 140 - Can be cut by about £40
Clothing................................ 0
Petrol/diesel........................... 220
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 40
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 - Should have this
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0 - Don't you get haircuts?
Entertainment........................... 0 - Don't you ever go out? get a takeaway? Buy alcohol? etc etc
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 815
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan ..........................7630......211.8.....0
loan...........................8790......283.5.....0
vanquis........................204.36....10........39.9
cap 1..........................390.37....20........15.9
mint...........................324.......20........16.9
egg............................978.71....40........16.9
barclay........................244.79....10........12.4
Total unsecured debts..........18562.23..595.3.....-
Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 815
Available for debt repayments........... 605
Monthly UNsecured debt repayments....... 595.3
Amount left after debt repayments....... 9.7
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,562.23
Net Assets.............................. -16,562.23
[/tt]
Just a few thoughts above, you seem to have some things missing. Don't you ever get haircuts? And surely there should be something for entertainment?
Sorry, just seen your last post. Where is the food and drink at work included, is this ibn the grocery budget?
Yes, you definately can cut Setanta and Sky!!!
0 -
Rather than buying food and drink at work, take a packed lunch and maybe some juice or something.
Keep a spending diary so that you know where you are spending money e.g. the odd newspaper etc. note it all down.
Get rid of Setanta - there are plenty of free sports channels to watch that are just as good if not better.0 -
i shave my own head so no hair cuts, i guess i would spend something on entertainment but it is very rare when you havent got the money and work upwards on 60 hours a week. the reason i have setanta is i am a celtic fan and you get to see every away match and the way i see it is it would be cheaper watching it in the house than in the pub.0
-
gerryjo1984 wrote: »i shave my own head so no hair cuts, i guess i would spend something on entertainment but it is very rare when you havent got the money and work upwards on 60 hours a week. the reason i have setanta is i am a celtic fan and you get to see every away match and the way i see it is it would be cheaper watching it in the house than in the pub.
Hail hail Gerry!
I'd suggest cancelling Setanta then at the end of the season for the summer (will save you £13/month over the summer) you will also probably be able to take advantage of new deals in the new season and get your subscription for half price for the first few months of the year.
Or if the pub is handy, drive there and just nurse a coke during the game - we're only away 2/3 times a month so that would also work out cheaper than the £13 subscription.0 -
gerryjo1984 wrote: »net - i signed up with bt at a previous address just before i moved and they wouldnt change it so i am paying two deals
BT should have simply done a "house movers" and allowed you to keep the phone line and broadband (or whatever package you have with them).0 -
pubs a little too handy. rolling distance it could be said. i will have to have a think about it as the pub could hold too many temptations0
-
gerryjo1984 wrote: »i shave my own head so no hair cuts, i guess i would spend something on entertainment but it is very rare when you havent got the money and work upwards on 60 hours a week. the reason i have setanta is i am a celtic fan and you get to see every away match and the way i see it is it would be cheaper watching it in the house than in the pub.
There are sites online where you can watch Celltic games that are broadcast on Setanta, Only prob is that if its an important game or an Old Firm game you may be chucked out a a vital moment due to over subscription:mad:
Sorry cant give you the site details yet as my son isnt home just nowcheerio hen0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards