Another SOA

kaylouise

So I've been on a DMP since August, and really starting to struggle with the thought that money can be this tight for the next 7/8 years. CCCS only suggested that I maximise my income, but if I knew how to do that, I woudn't be here today!
Any ideas for improvement on this?

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................ 1138
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1138

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 17
Rent.................................... 316
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 38
Gas..................................... 44
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 14
Mobile phone............................ 35
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 175
Clothing................................ 15
Petrol/diesel........................... 80
Road tax................................ 13
Car Insurance........................... 36
Car maintenance (including MOT)......... 10
Car parking............................. 0
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...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 20
AA membership........................... 7
Car finance (will end early 2011)....... 73
Total monthly expenses.................. 1082


Assets
Cash.................................... 200
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1700


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 68.......(17).......0
Total secured & HP debts...... 68........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................770.......8.........0
Lloyds TSB.....................584.......6.........18.3
Nationwide Loan................2580......23........15.4
Nationwide Overdraft...........680.......14........0
Total unsecured debts..........4614......51........-


Monthly Budget Summary
Total monthly income.................... 1,138
Expenses (including HP & secured debts). 1,082
Available for debt repayments........... 56
Monthly UNsecured debt repayments....... 51
Amount left after debt repayments....... 5

Personal Balance Sheet Summary
Total assets (things you own)........... 1,700
Total HP & Secured debt................. -68
Total Unsecured debt.................... -4,614
Net Assets.............................. -2,914

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

I haven't put an apr on the overdraft or barclaycard becuase they have stopped charging, and although the car is listed as an asset, there's still nearly £2000 left to pay on the finance. "Groceries, etc" includes the food bill for the month (we aim for around £60 on the main shop and top up later if needed) and odds-and-ends - my lunches at work, cat food, extra costs for things like toiletries, pet food/bedding, travel costs if he gets a job interview, and anything else that comes up - about £30 a week is about the allowance for it. I would love to get the mobile phone down, but its a contract and i can't reduce it until July, and then only by £5 a month.

Keeping_Positive

Hello

Have a look at the Up your Income board for ideas. Things like ebay, surveys, mystery shopping etc

Also meal plan and start packed lunches to help.

Good luck

kaylouise

Definitely going to try doing packed lunches next week, see if it saves any money.

Have been through the Up Your Income; actually lost money on Avon in the past, but might try something selling online, if there is anything taking my fancy. Would consider doing typing/CV's on my weekends, if i thought i could get anyone to give me the work!

debrag

can't help with the SOA but how did you get nationwide to stop the interest?

kaylouise

on the overdraft, (unless I've forgotten and they are still cheekily charging) they agreed that it would stop and so long as i keep up the minimum agreed repayments, they would keep reducing the overdraft by £10 a month until it is gone.
I only hear from them when I request any information, because i don't have any accounts with them and nothing extra is being added to show me anyway.
Nationwide are a bit funny, becasue for all that, every time I have increased my payment, i get a letter saying they can't accept because it isn't enough, but nothing ever comes of it and payments go on as always. Even odder, becasue as an overdraft, there was never a set monthly repayment to begin with, so anything i'm paying back good.

debrag

oh good I have £263 with them and want to get rid of it

~Beanie~

You have listed 2 adults but only 1 income, is one person unable to find work? Can you claim any benefits? Do you have stuff you can sell on EBay, complete surveys, Mystery Shopping?

kaylouise

the other adult is my fiance. He is unemployed at the minute, and has been looking for about a year and a half (if not longer) but things are getting harder and harder - even the jobcentre can't find anything at the minute.
We get no benefits - I've had a good old rant on this on another board - he doesn't get jobseekers because I work, we don't get tax credits becuase i'm under 25 and don't qualify for anything else, including housing/council tax benefits.

Surveys are good, but - and without being stuck-up about it - I did some before and it two weeks to earn about £1. If there was actual money to be made, I would consider it, but the amount you make over that kind of time just didn't seem worth it in the end. He tried ebaying a while back - and in fact made good money from selling old and un-released clips/adverts/etc he'd been from tv for the last 15 years for collectors, but had to stop when Granada sued him.
How does mystery shopping work? I've heard about it, but wouldn't know how/where to start.

Fire_Fox

Could your fiancee do surveys, cashback, mystery shopping, matched betting? If he has been looking for a year and a half what help has he been given rewriting his CV or practicing interviews? Has he tried walking round town recently with a massive stack of CVs? Putting cards in shop windows for private gardening, cleaning or decorating? Not in any way saying he isn't trying, but it's v hard to keep up the momentum.