My SOA. It's a bit tight - advice gratefully received

NoddingDog

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................ 2200
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 160
Total monthly income.................... 2360

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 600
Management charge (leasehold property).. 70
Council tax............................. 86
Electricity............................. 30
Gas..................................... 40
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 22
Mobile phone............................ 100
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 34
Groceries etc. ......................... 160
Clothing................................ 20
Petrol/diesel........................... 240
Road tax................................ 20
Car Insurance........................... 29.93
Car maintenance (including MOT)......... 30
Car parking............................. 10
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)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1506.93


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly.. .APR
Loan...........................6580.44...191.7.... .0
Loan...........................9988.2....221.9.... .0
Credit Card....................1528.75...39........0
Credit Card....................2159.55...32.2......0
Credit Card....................4446.32...130.......0
Credit Card....................1677.95...37.5......0
Total unsecured debts..........26381.21..652.3.....-


Monthly Budget Summary
Total monthly income.................... 2,360
Expenses (including HP & secured debts). 1,506.93
Available for debt repayments........... 853.07
Monthly UNsecured debt repayments....... 652.3
Amount left after debt repayments....... 200.77

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -26,381.21
Net Assets.............................. -25,881.21

The following Outgoings Have to be added on - £72.00 + £6.75 + 17.45 + £12.95 = £108.85

jt2k6

there will be someone along soon who can help more, but the one thing that jumps out is mobile phone, what network are you on, and do you need it for work.

depending on where you are and who your current supliers are you could get mobile, internet, and landline for £50 (orange in our case)

maybe look at the haircuts if you really want to trim your expenditure :rotfl: a cheap pair of clippers will cost you a tenner then you have free haircuts! (if it's only costing you 5 a month guessing it's not a wash and blowdry with full perm)

what are the extra outgoings that you have put at the bottom, if they are monthly they should be put up the list, if they are one off's you may want to split them over the year, but as i said some one with more knowledge will be along soon

toodle pip
Matt

NoddingDog

Hi Matt,

Thanks very much for your post.

The mobile phone I agree is an issue, and something that I can take in hand by using Skype - the high cost relates to foreign calls.

As for the additional expenses, they are monthly and cover professional affiliation membership, breakdown cover (car not mental), bank account monthly charge, and gym membership.

P.S. I am a previous user of Orange Internet and only just survived, they were simply dreadful.

P.P.S. Phone is with 02, and would cost £45 per month without the foreign calls and texts.

Cheers
NoddingDog

jt2k6

NoddingDog wrote: »

As for the additional expenses, they are monthly and cover professional affiliation membership, breakdown cover (car not mental), bank account monthly charge, and gym membership.

P.S. I am a previous user of Orange Internet and only just survived, they were simply dreadful.

Cheers
NoddingDog

My company pay for my IET membership, but i think if they won't you can claim back some of it, many bank accounts will include breakdown cover (HSBC premier and barclays do) and i know it's a tricky one but is the Gym essential, I got a bike, a cross trainer, and a punchbag for free from freecycle and binned the gym.

I heard a lot of bad things about Orange, but thought very few people take the time to write a good review, only bad, and touch wood they have been great so far. but it does seem i'm in the minority, but i saved myself £40 a months so happy with that

Eupho

NoddingDog wrote: »

Hi Matt,

Thanks very much for your post.

The mobile phone I agree is an issue, and something that I can take in hand by using Skype - the high cost relates to foreign calls.

As for the additional expenses, they are monthly and cover professional affiliation membership, breakdown cover (car not mental), bank account monthly charge, and gym membership.

P.S. I am a previous user of Orange Internet and only just survived, they were simply dreadful.

P.P.S. Phone is with 02, and would cost £45 per month without the foreign calls and texts.

Cheers
NoddingDog

:rotfl: haha :T

Merlinexcalibur

I noticed this before but hoped someone else may have ...

TV Licence.............................. 0

Don't have one?

NoddingDog

my landlord pays it

Merlinexcalibur

Mmm, I thought that. Why I never brought it up before ...

Groceries etc. ......................... 160

I suppose there could be a bit of 'tweaking' here to bring it down?

NoddingDog

..... a bit...........a breadcrumb here.............a tea bag there

homeaway

You can def bring the food bill down, start shopping at Alid or Lidl or if you dont like them go to your normal supermarket and downshift your brand which means buy the supermarket own brand or the one that is just above that , keep the ones you like and ditch the ones you dont like. Things that you can save on are loo rolls, kitchen roll, t bags biscuits just by changing your brand. The cheapest brands are quite often on the lower shelves. I have saved lots by doing this but there are some brands which my family refuse to do without ie ketchup. Plan your menus for the week, boring i know but it saves wasting and also batch cook and freeze. There are lots of ideas on the old style board.
For keeping in touch with relatives abroad you might find it cheaper to sms via skype if you buy credit or use msn or skype chat to keep in touch. Texting gets expensive. Hope to have given you some ideas.

NoddingDog

i'm sure you're right