statement of affairs please help

wallbuff

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................ 1200
Partners monthly income after tax....... 600
Benefits................................ 0
Other income............................ 400
Total monthly income.................... 2200

Monthly Expense Details
Mortgage................................ 600
Secured/HP loan repayments.............. 192
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 27
Gas..................................... 31
Oil..................................... 0
Water rates............................. 26
Telephone (land line)................... 28
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 54
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 36
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 400
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 23
Contents insurance...................... 0
Life assurance ......................... 45
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1762


Assets
Cash.................................... 300
House value (Gross)..................... 100000
Shares and bonds........................ 100
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 105400


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 85000....(600)......0
Secured Debt.................. 27000....(192)......0
Total secured & HP debts...... 112000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................1000......65........0
loan...........................3000......72........0
overdraft......................2000......25........0
Total unsecured debts..........6000......162.......-


Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 1,762
Available for debt repayments........... 438
Monthly UNsecured debt repayments....... 162
Amount left after debt repayments....... 276

Personal Balance Sheet Summary
Total assets (things you own)........... 105,400
Total HP & Secured debt................. -112,000
Total Unsecured debt.................... -6,000
Net Assets.............................. -12,600

angelicmary85

Hiya, Welcome to MSE!

You could start by comparing insurance prices on comparison sites and maybe reducing your sky package?

Do you know your APR's?

Tixy

Hello Wallbuff and welcome to DFW.

Is you water metered or unmeasured? If you are not on a meter you may save by moving to one (and if you don't and it costs you more you can switch back to unmeasured for the first year.

Satellite TV costs are really high, considering reducing to a lower package (or even just going for freeview) (assume this also includes broadband?)

No petrol, road tax or car maintenance?

Prescriptions - if this is mostly just for one of you have you considered getting a prepaid voucher?

Is contents insurance in with buildings?

All insurances - have you shopped around recently to check you are getting the best deals (if you renew go through a cashback site like quidco to earn money back)

Nothing for presents or haircuts? you need to budget something here.

It looks like you have £276 left after all expenses? Are you only making minumum amounts or have you been overpaying with this surplus.

If you haven't and you don't feel that you have a surplus then you need to work out where it is going. Start by keeping a spending diary where you write down every single thing you spend from 50p to £50. After a month or so you should be able to work out where the extra is going and either cut it out or revise your budget. Common places for missing money are buying lunch while you are out, takeaways, top up shops for groceries, cigarettes, magazines etc. Could you money be going on any of these?

You need to find out the APRs for your debts - I guess they are not all 0%

Hope this helps a bit I'm sure others will have more suggestions.

Well done for posting you details up - its not easy.