And so it begins (SOA)

phil78

Thought as much, thanks. Does anyone have anything to add regarding the expenses on the SOA? It is about as true a reflection on what is acutally spent.

philnicandamy

maxmycardagain wrote: »

Theres a table somewhere showing what you can expect to pay for the 3 year term of the IPO

£99 surplus - nil
£100 surplus - 70% of surplus

you mean this one?

maxmycardagain

what took you so long?...

so the OR will want £310 PCM (for 3 years) plus the tax till next april...

philnicandamy

i've not been well

skylight

phil78 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1238
Partners contribution .................. 550 Is your partner on a low income? Her own bills to pay? Could she reduce this a litte?
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1788
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 495
Management charge (leasehold property).. 0
Council tax............................. 105
Electricity............................. 40 Do you KNOW these utilities are accurate? Not just the direct debit each month, you have actually taken meter readings and they are up to date so you are paying enough? You could still get away with adding £10 each to these.
Gas..................................... 40
Oil..................................... 0
Water rates............................. 26
Telephone (land line)................... 50
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 390 £420
Clothing................................ 28 Up this to £40
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 72 Is this just travel passes? Have you added in the odd taxi journey too? Afterall you still need to shop at Tesco for example, and you need to bring it all home.
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 £15
Pet insurance/vet bills................. 0 £15. (Naughty, but they do not ask for pet proof...)
Buildings insurance..................... 0
Contents insurance...................... 10 This is a bit low. £15pm
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10 £15
Entertainment........................... 0
Holiday................................. 30 £50
Emergency fund.......................... 0
Total monthly expenses.................. 1318

You could add in Dry Cleaning £15 - your work suits need doing.
Are you a member of any union? Or work related magazine subscriptions.

I know its not a brilliant change, but you can push your totals a bit. Let the OR take them down if necessary but if you don't push it before then its too late afterwards.

phil78

Thanks so much for taking a look skylight -

My partner earns roughly the same as me, that figure is around a 50/50 split of rent, ctax, utlilities and "groceries", (she obviously has her own commitments too.) I would assume the OR will want to make sure that the contribution is fair.

The elec/gas figures are based on the last few quarterly bills. I don't pay by direct debit because I want to pay for what I have used, not what they think I will. I always give meter readings once a month. and work it out on a regular basis so I always know roughly what the bill will be when it comes. (I learned this lesson the hard way a few years ago after being shafted by the supplier, some of the debt is because of that). I guess I should add a bit in case of any anomolies that might occur over the year

"Other travel" - I have a monthly bus pass that costs £56, this is mainly to get to work and back but it covers weekends as well. The extra should cover taxis, we don't use them that much at all.

I'll recalculate and see how it looks then... thanks again!

skylight

So your rent is not £495, its £990???? Or do you mean that you have taken her 50% off her contribution???

phil78

No, the rent is £495 total, her half of that is included in her contribution figure.

maxmycardagain

philnicandamy wrote: »

i've not been well

your just getting old....

maxmycardagain

Is this just travel passes? Have you added in the odd taxi journey too? Afterall you still need to shop at Tesco for example, and you need to bring it all home.

Tescos deliver......