SOA....can anyone advise...

Merry_Gentry

Powermouse wrote: »

the rent in our area for me for a smaller place could be around 400-500 and if i take off what u highlighted in total £30 for emergency fund and internet that should give me 230 extra to live which would about break even.

Take them off, put the rent down as £450 (ish), take off the debts - what does it look like then?

Powermouse

Took them off changed food to 250 and put rent in at 500 left with about 57.50:

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1300
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 60
Electricity............................. 50
Gas..................................... 30
Oil..................................... 0
Water rates............................. 44
Telephone (land line)................... 30
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 15
Petrol/diesel........................... 70
Road tax................................ 5.5
Car Insurance........................... 22
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 42
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 15
Buildings insurance..................... 17
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1242.5

Assets
Cash.................................... 0
House value (Gross)..................... 109000
Shares and bonds........................ 0
Car(s).................................. 1900
Other assets............................ 0
Total Assets............................ 110900

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 103000...(0)........7
Total secured & HP debts...... 103000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
HSBC CREDIT CARD...............5250......0.........0
TESCO CREDIT CARD..............3800......0.........0
HALIFAX CREDIT CARD............1700......0.........0
HSBC OVERDRAFT.................1088......0.........0
SOLS FEES DIVORCE..............700.......0.........0
HSBC LOAN PERSONAL.............13906.....0.........0
Total unsecured debts..........26444.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,300
Expenses (including HP & secured debts). 1,242.5
Available for debt repayments........... 57.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 57.5
Personal Balance Sheet Summary
Total assets (things you own)........... 110,900
Total HP & Secured debt................. -103,000
Total Unsecured debt.................... -26,444
Net Assets.............................. -18,544

Flowerpot_2

Powermouse wrote: »

YES I HAVE mobile but didn't think u were allowed it.......what is a reasonable figure for food and everything.....i am obviously spending too much.....so if i take out internet and put in mobile that is allowed?

I put one figure down for the land-line, but this included my mbl phone & the Internet. You are allowed a mbl although i think i've read on the Board somewhere that a high tariff contract is not allowed - I'm on PAYG.
I put 400 for groceries etc., (thats for 2 adults) the OR didn't query this amount.
FP x

consultant31

Powermouse wrote: »

YES I HAVE mobile but didn't think u were allowed it.......what is a reasonable figure for food and everything.....i am obviously spending too much.....so if i take out internet and put in mobile that is allowed?

Do you have take-aways a lot? £300 is an enormous amount to spend on food for one person :eek: I shop for 2 adults for around £150 a month and we eat well.

Flowerpot_2

consultant31 wrote: »

Do you have take-aways a lot? £300 is an enormous amount to spend on food for one person :eek: I shop for 2 adults for around £150 a month and we eat well.

yeah but, no but...............
The online form section 7.1 states that its important to be accurate & that you include all necessary expenditure. Rather than 'groceries' it asks for 'Housekeeping (including food & cleaning)'
I agree consultant that 2 adults could eat well (shopping wisely!) for £150 a month but then you have to take into account all the other stuff i.e laundry, cleaning, loo rolls, cat food (2 fussy farts in my case :rolleyes:) ec., etc.,. as I said before, I put £400 for 2 adults on mine & the OR didn't question at all.
FP x