Can you have a quick look at my SOA please?

desperatetobedebtfree

Please could anyone who is interested have a quick look at my SOA below
I am currently working and have a child still in nappies but with big appetite.

Any improvements or suggestions gratefully received.

desperatetobedebtfree

Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1[b

Monthly Income Details
Monthly income after tax................ 754
Partners monthly income after tax....... 0
Benefits................................ 1010
Other income............................ 0
Total monthly income.................... 1764
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 66
Electricity............................. 50
Gas..................................... 40
Oil..................................... 0
Water rates............................. 46
Telephone (land line)................... 18
Mobile phone............................ 15
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 14
Groceries etc. ......................... 300
Clothing................................ 50
Petrol/diesel........................... 110
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 25
Other travel............................ 0
Childcare/nursery....................... 284
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 3
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1684

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 450
Other assets............................ 0
Total Assets............................ 0


Monthly Budget Summary
Total monthly income.................... 1,764
Expenses (including HP & secured debts). 1,684
Available for debt repayments........... 80
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 80
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

jamesb1239

desperatetobedebtfree wrote: »

Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1[b

Monthly Income Details
Monthly income after tax................ 754
Partners monthly income after tax....... 0
Benefits................................ 1010
Other income............................ 0
Total monthly income.................... 1764
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 66
Electricity............................. 50
Gas..................................... 40
Oil..................................... 0
Water rates............................. 46
Telephone (land line)................... 18 (add mobile and broadband into here £47)
Mobile phone............................ 15 (£0)
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 14 (£0 unless required for school/work)
Groceries etc. ......................... 300 (also maybe a little high but maybe not considering nappies etc dont know how it works with that one)
Clothing................................ 50
Petrol/diesel........................... 110 (Really)
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 10 (for a car with the value of £450 I guess its old, this only allows you approx £80 per year for all repairs & brakes & tyres etc)
Car parking............................. 25 (seems a lot unless required for work)
Other travel............................ 0
Childcare/nursery....................... 284
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 3 (?)
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15 (maybe a little high)
Entertainment........................... 0
Holiday................................. 40 (possibly wont be allowed)
Emergency fund.......................... 0
Total monthly expenses.................. 1684

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 450
Other assets............................ 0
Total Assets............................ 0


Monthly Budget Summary
Total monthly income.................... 1,764
Expenses (including HP & secured debts). 1,684
Available for debt repayments........... 80
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 80
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

Not really any good at these but i thought i would have a go lol, looking at the Common Financial Statement you are allowed for a household with 1 adult & 1 child;
Phone - £47
Travel - £155 (inc petrol, tax, insurance, mot, repairs, parking etc etc)
Housekeeping - £305 (Food & Milk, Cleaning & Toiletries, Nappies, Pet Food etc)
Other Expenditure - £136 (Prescriptions, School/Work Meals, Vet Bills, Haircuts, Internet, Satellite etc)

Hope that at least helps a little

desperatetobedebtfree

Thanks Jay for your help

The Parking is a season ticket for works car park. Parking on the road generally ends up with car vandaled..plus rarely spaces anyway.

How much for you put for Car maintenance. Im not good at estimate. ALthough two tyres just cost me £80. Maybe I should reduce Petrol down....£20-£25 is what I put in a the mo.

Does anyone know how long from going BR to when the OR calls you and then lets you know about car exemption. I would really like to know what the Plymouth OR is like really.

Lightattheend

The OR discounted my presents amount but did allow me something under other child related expenses (I think its about £5 per week per child usually allowed). I'd leave the presents amount in though as its gives them something to remove!

desperatetobedebtfree

Thanks...I will try. Like you said will give them something to remove.

What do you think of the rest. My son is nearly two. Is my grocery too high?

Lightattheend

Meant to add, where figures where a bit high or needed further explanation I added text in Section 13 (hand written) to explain it and the OR seemed to find it very useful (and certainly made my telephone interview short!)

tigerfeet2006

desperatetobedebtfree wrote: »

Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1[b

Monthly Income Details
Monthly income after tax................ 754
Partners monthly income after tax....... 0
Benefits................................ 1010
Other income............................ 0
Total monthly income.................... 1764
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 66
Electricity............................. 50
Gas..................................... 40
Oil..................................... 0
Water rates............................. 46
Telephone (land line)................... 18
Mobile phone............................ 15
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 14 only allowed if essential for work or exams. Lump it in with your land line and mobile under phone
Groceries etc. ......................... 300 this is fine
Clothing................................ 50 £80
Petrol/diesel........................... 110
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 10 £20/30
Car parking............................. 25
Other travel............................ 0
Childcare/nursery....................... 284
Other child related expenses............ 0 £20
Medical (prescriptions, dentist etc).... 0 £20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 3
Presents (birthday, christmas etc)...... 10 most OR's won't allow
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1684

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 450
Other assets............................ 0
Total Assets............................ 0


Monthly Budget Summary
Total monthly income.................... 1,764
Expenses (including HP & secured debts). 1,684
Available for debt repayments........... 80
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 80
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

Have a play with those figures, Make sure your car insurance is fully comp and your contents insurance has accidental damage.

desperatetobedebtfree

Thanks Guys. Also my house insurance is with Lloyds. One of my creditors. Should I switch quickly? i do to increase it to accidental cover.

Off to bed now...doctors given me something to help me sleep..fingers crossed x

tigerfeet2006

Go through Martins guide in the Insurance tab at the top and check whether you can get cashback from the likes of Quidco and Topcashback.

desperatetobedebtfree

Thanks will do that. Worry Lloyds will pull my insurance too.