My SOA

Newdiamond

Hiya all,

Here is my SOA, please could you have a look at it and let me know what you think. One query, we have 1 car in the household but its owned by my OH so when it asks at the bottom 'number of cars' do I include it?

Thanks muchful.

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 368
Partners monthly income after tax....... 500
Benefits................................ 420
Other income............................ 0
Total monthly income.................... 1288
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 68
Electricity............................. 40
Gas..................................... 0
Oil..................................... 50
Water rates............................. 40
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 15
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 40
Petrol/diesel........................... 50
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 11
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 20
Total monthly expenses.................. 1286

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Business Loan..................10000.....250.......7
Credit Card....................6200......125.......7
Credit Card....................2100......72........7
Overdraft......................2500......15........8
Catalogue......................500.......60........14
Credit Card....................1900......68........7
Total unsecured debts..........23200.....590.......-

Monthly Budget Summary
Total monthly income.................... 1,288
Expenses (including HP & secured debts). 1,286
Available for debt repayments........... 2
Monthly UNsecured debt repayments....... 590
Amount short for making debt repayments. -588
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -23,200
Net Assets.............................. -23,200

tigerfeet2006

Newdiamond wrote: »

Hiya all,

Here is my SOA, please could you have a look at it and let me know what you think. One query, we have 1 car in the household but its owned by my OH so when it asks at the bottom 'number of cars' do I include it? If you are the one going BR then no you don't include it. If you use it and pay towards it, it goes under vehicles you have use of.

Thanks muchful.

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 368
Partners monthly income after tax....... 500
Benefits................................ 420
Other income............................ 0
Total monthly income.................... 1288
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 68
Electricity............................. 40
Gas..................................... 0
Oil..................................... 50
Water rates............................. 40
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 15 Not allowed on Soa, must come from surplus.
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 40
Petrol/diesel........................... 50 is this for your use of the car?
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0 £20
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 11
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 20 most OR's won't allow.
Total monthly expenses.................. 1286

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Business Loan..................10000.....250.......7
Credit Card....................6200......125.......7
Credit Card....................2100......72........7
Overdraft......................2500......15........8
Catalogue......................500.......60........14
Credit Card....................1900......68........7
Total unsecured debts..........23200.....590.......-

Monthly Budget Summary
Total monthly income.................... 1,288
Expenses (including HP & secured debts). 1,286
Available for debt repayments........... 2
Monthly UNsecured debt repayments....... 590
Amount short for making debt repayments. -588
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -23,200
Net Assets.............................. -23,200

Just a few comments. That is one tight grocery bill. Are you coping with it?

Newdiamond

Thanks so much for the response. The grocery bill is ok because we grow a lot of our own veg, have chickens etc. The petrol expense is ours, I personally don't contribute to the petrol because I don't use the car much, bit of shopping etc. I work from home so I have little cause to use it frequently. Otherwise is it ok?

dalip

If you work from home and the car belongs to your OH and you don't as such use it then you can not(as far as i know) put any car related expenses down. You put down so much for other travel to cover shopping trips ect. If i was you i would take car off and increase housekeeping.Dx

tigerfeet2006

Exactly Dalip. Take off car expenses as these are your OH's own expenses so should come from his income,put the groceries up to £400+.

Newdiamond

Brill thanks, will do. Getting there slowly.:T