FINALLY my SOA! Pleeease look. Really could do with using it today!

Eupho

Okay guys.. what do you suggest I change?

Please be kind..

vandanfc

Telephone (land line)................... 25
Satellite/Cable TV...................... 27
Internet Services....................... 17

These total £69, can you get a combined package ? Could save you about £30 or so.

Not up on colleges/grants etc, but is there no grant you son can claim ?

http://www.direct.gov.uk/en/EducationAndLearning/14To19/MoneyToLearn/EMA/DG_066951

Can you switch the Cahoot loan elsewhere ?

What about DLA for the youngest, as he needs so much suppoert you may get something.

talana

Pocket money? 3 teens. ................. 60

I hope you make them help around the house for that!
Seriously though, at 17 your eldest is at an age to be looking at weekend jobs and the like rather than pocket money handouts.
He could then gradually start making a modest contribution to the household budget as well.

kindofagilr

Def agree with the kids helping out for pocket money

My mam was a single parent and couldnt afford to just give us money like you

So we got £5 a week if we did housework (that was from the age of 13)

(when we were really little like 7 we got like 5p for doing dishes which we saved up and bought stuff with, mine always went on the beano lol)

angelicmary85

Eupho wrote: »

Okay guys.. what do you suggest I change?

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 450
Partners monthly income after tax....... 0
Benefits................................ 1334 (Rent help £360. WFTC £800. ChB. £184)
Other income............................ 120 (This is 'approx' what I get paid back from my employer 'towards' my fuel each month ~ sorry about the bold font)
Total monthly income.................... 1904

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 140 Gas..................................... 0
Oil..................................... 0
Water rates............................. 62.8
Telephone (land line)................... 25 could you try to cut this?
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 27
Internet Services....................... 17
Groceries etc. ......................... 360 Think you could shed a bit off here...meal plan, look at the old style boards
Clothing................................ 10
Petrol/diesel........................... 160
Road tax................................ 11.5
Car Insurance........................... 35
Car maintenance (including MOT)......... 15
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 cheaper under the pre-paid system?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10 Maybe try not to put into your fund for a couple of months?
Pocket money? 3 teens. ................. 60
My sons college bus fare................ 25 Does he get a bursary? - I went through Skill seekers and they paid my bus fare for me (that cvould just be scotland though - not sure where you are!)
Total monthly expenses.................. 1630.3


Assets
Cash.................................... 0 - Do you not have an emergency fund with cash in it?
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1
Other assets............................ 0
Total Assets............................ 1

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Barclays Overdraft.............2200......12........0
Halifax .......................5400......92........0
HSBC Card......................2250......54........0
Cahoot Overdraft...............478.......10........0
Capital One....................800.......42........0
Morg Stanley Card..............800.......13........0
DFS Sofa.......................1500......44........0
Cahoot Loan ...................6499......160.......23.3
Egg card.......................2500......58........0
Barclaycard....................3700......83........0
HSBC Loan......................3488......176.......14.9
RBOS...........................4200......91........0
B'clays Cashback Card..........402.......8.2.......0
Total unsecured debts..........34217.....843.2.....-


Monthly Budget Summary
Total monthly income.................... 1,904
Expenses (including HP & secured debts). 1,630.3
Available for debt repayments........... 273.7
Monthly UNsecured debt repayments....... 843.2
Amount short for making debt repayments. -569.5

Personal Balance Sheet Summary
Total assets (things you own)........... 1
Total HP & Secured debt................. -0
Total Unsecured debt.................... -34,217
Net Assets.............................. -34,216

Sooo.. what do you think?

:: cringes :::

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

Hiya,

Just a few comments from me,

I think the son that's at college should be paying his own bus fares, I was paying mine at 15 before I got any help aged 16. Look into applying for bursarys or grants.

Eupho

vandanfc wrote: »

Telephone (land line)................... 25
Satellite/Cable TV...................... 27
Internet Services....................... 17

These total £69, can you get a combined package ? Could save you about £30 or so.

Not up on colleges/grants etc, but is there no grant you son can claim ?

http://www.direct.gov.uk/en/EducationAndLearning/14To19/MoneyToLearn/EMA/DG_066951

Can you switch the Cahoot loan elsewhere ?

What about DLA for the youngest, as he needs so much suppoert you may get something.

Hellooo thankyou for your reply

I doubt anyone would give me any other loan to switch Cahoot TOO.

Oo also.. I do have a combined tv/phone/broadband package.. (with SKY) What I listed was the breakdown. the total for them per month is £70 (give or take a £)

I live in an area where so far I can't get Freeview.. also cant get the free broadband some could get .. hence having to pay the £17.

Eupho

talana wrote: »

I hope you make them help around the house for that!
Seriously though, at 17 your eldest is at an age to be looking at weekend jobs and the like rather than pocket money handouts.
He could then gradually start making a modest contribution to the household budget as well.

I agree too... but being a teenager.. trying to get him to do ANYTHING (thats not for himself) .. is virtually impossible. :rolleyes:

Eupho

kindofagilr wrote: »

Def agree with the kids helping out for pocket money

My mam was a single parent and couldnt afford to just give us money like you

So we got £5 a week if we did housework (that was from the age of 13)

(when we were really little like 7 we got like 5p for doing dishes which we saved up and bought stuff with, mine always went on the beano lol)

Ohh mine DO have to do housework for it.

kindofagilr

^^ Could you then change your sky package to a lower package?

kindofagilr

Eupho wrote: »

Ohh mine DO have to do housework for it.

oHHHH I just read my sentance back and I didnt mean it like that, sorry

I didnt mean that you just give them money, I just meant you like my mam couldnt afford to give the kids money

I hope that makes sense

greyteam1959

Just a short one......cant see any CSA payments being made by the father ( s ) of your 3 children ???
Surely he should be contributing ????