yet another SOA from me...please help me

stopthespends

Hi all
once again im here. and im getting desparet again... i really need your help...im freaking out. again

i need someone to help me sort out how much i have free each month to focus on my debt and also to have a decent life and work towards dealing with the debt.
thanks


Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1850
Partners monthly income after tax....... 0
Benefits................................ 120
Other income............................ 0
Total monthly income.................... 1862

Monthly Expense Details
Mortgage................................ 580
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 24
Mobile phone............................ 35
TV Licence.............................. 11
Satellite/Cable TV...................... 5
Internet Services....................... 0
Groceries etc. ......................... 50
Clothing................................ 20
Petrol/diesel........................... 30
Road tax................................ 0
Car Insurance........................... 24
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 0
Life assurance ......................... 13
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 960


Assets
Cash.................................... 200
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 141200


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 87000....(580)......5.15
Total secured & HP debts...... 87000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
loan1..........................3000......283.......0
loan 2.........................15000.....260.......0
lloyd..........................3000......50........0
virgin.........................1500......50........6
cap 1..........................2000......50........0
hsbc...........................2000......50........4
Total unsecured debts..........26500.....743.......-


Monthly Budget Summary
Total monthly income.................... 1862
Expenses (including HP & secured debts). 960
Available for debt repayments........... 17,660
Monthly UNsecured debt repayments....... 743
Amount left after debt repayments....... 1691

Personal Balance Sheet Summary
Total assets (things you own)........... 141,200
Total HP & Secured debt................. -87,000
Total Unsecured debt.................... -26,500
Net Assets.............................. 27,700

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

gfplux

Hello Louly,

Well done for posting your SOA.
There will be some good people along soon to make detailed comments on it.

For the moment I would ask - Car Tax? Contents Insurance?

Start a spending diary TODAY to find out exactly where your money goes. That knowledge will give you power.


Good Luck

stopthespends

HI and thanks

car tax i usually dont save for i usually just take it out of the monthly wages when its due...i have thought about getting those stamps - do they still exist??
also contents insurence and buildings are toghter for 10 ( got a good deal with sheilas wheels)

i will start a spending diary... i need to learn how to budget and manage a household properly i think that is a big factor in this porblem i have.... a little blinkered!

RAS

Welcome

[QUOTE=louley;23819569

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1850
Partners monthly income after tax....... 0
Benefits................................ 120
Other income............................ 0
Total monthly income.................... 1862

Monthly Expense Details
Mortgage................................ 580
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 24 - you need to reduce your usage
Mobile phone............................ 35 - reduce this and then go PAYG
TV Licence.............................. 11
Satellite/Cable TV...................... 5
Internet Services....................... 0
Groceries etc. ......................... 50 - per month for two people?
Clothing................................ 20
Petrol/diesel........................... 30
Road tax................................ 0 - you need this
Car Insurance........................... 24
Car maintenance (including MOT)......... 0 and this
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 0 - you need this
Life assurance ......................... 13 - good
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 - none with a child?
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 960


Assets
Cash.................................... 200
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 141200


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 87000....(580)......5.15
Total secured & HP debts...... 87000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
loan1..........................3000......283.......0
loan 2.........................15000.....260.......0
lloyd..........................3000......50........0
virgin.........................1500......50........6
cap 1..........................2000......50........0
hsbc...........................2000......50........4
Total unsecured debts..........26500.....743.......-


Monthly Budget Summary
Total monthly income.................... 1862
Expenses (including HP & secured debts). 960
Available for debt repayments........... 902

---

something went wrong here
Monthly UNsecured debt repayments....... 743
Amount left after debt repayments....... 159 - do you actaully have this much left each month

Personal Balance Sheet Summary
Total assets (things you own)........... 141,200
Total HP & Secured debt................. -87,000
Total Unsecured debt.................... -26,500
Net Assets.............................. 27,700

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.[/font][/QUOTE]

You need to add some more amounts into your SOA and then revisit the sums.

stopthespends

thanks i will have another go at it....

gfplux

hello again louly,

one way of managing your money is to total up all your bills that you are paying annually or quarterly such as TV licence, Car road tax, Car, Buildings and Contents insurance, Car maintenance, Holiday and Emergency funds, etc. that you show monthly in your SOA. Then open a savings account and pay in that amount monthly by standing order. Then when those bills come along you have the money for them.

RAS has made some good points why not redo your SOA and repost it.
A SOA is ever changing.

Good Luck

stopthespends

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1850
Partners monthly income after tax....... 0
Benefits................................ 120
Other income............................ 0
Total monthly income.................... 1970

Monthly Expense Details
Mortgage................................ 580
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 24
Mobile phone............................ 35
TV Licence.............................. 11
Satellite/Cable TV...................... 5
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 20
Petrol/diesel........................... 30
Road tax................................ 6
Car Insurance........................... 24
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 5
Contents insurance...................... 5
Life assurance ......................... 13
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1000


Assets
Cash.................................... 200
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 141200


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 87000....(580)......5.1
Total secured & HP debts...... 87000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
hsbc loan......................3000......280.......0
nationwide loan................14000.....260.......0
gold card......................2000......50........4
virgin.........................1500......50........0
cap1 ..........................2000......50........0
lloyds.........................3000......50........0
Total unsecured debts..........25500.....740.......-


Monthly Budget Summary
Total monthly income.................... 1,970
Expenses (including HP & secured debts). 1,000
Available for debt repayments........... 970
Monthly UNsecured debt repayments....... 740
Amount left after debt repayments....... 230

Personal Balance Sheet Summary
Total assets (things you own)........... 141,200
Total HP & Secured debt................. -87,000
Total Unsecured debt.................... -25,500
Net Assets.............................. 28,700

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.[/font]

i think thats right now...

stopthespends

other thing that i need to add on is -
overpaid wages at old employemnet £68 for the next 9 months
and
union £15

stopthespends

hope thats a bit more like it....

the grocery is quite low as daughter eats at my moms or her dads 3 x a week and i have a freezer fiull of food...so i dont tend to by alot in

stopthespends

also if i reduce the telephone package down it affects the internet deal ive got included in it.. i have no bt line so cant get the free orange or sky deals

stopthespends

shameless bump! xx