SOA Check needed please...

Sammy3008

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1662
Partners monthly income after tax....... 0
Benefits................................ 723 This is DLA for our son, child benefit and Tax credits.
Other income............................ 0
Total monthly income.................... 2385
Monthly Expense Details
Mortgage................................ 495
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 35
Gas..................................... 58
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 25
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 20
Petrol/diesel........................... 130
Road tax................................ 0
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 15 Buses for me, as don't drive.
Childcare/nursery....................... 0
Other child related expenses............ 35 Child's dinner money and snack money
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30
Entertainment........................... 5
Holiday................................. 10
Emergency fund.......................... 5
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1601

Assets
Cash.................................... 1000 This excludes the back pay our son got from DLA and Tax credits, obviously we'd pay the fees out of this (thought it could be for a rainy day, never mind, we got ourselves in this mess, we have to pay for it!, and the rest will be taken I imagine. Am I ok to leave the back pay from DLA and Tax credits in my account? (which at present is a joint account with DH)
House value (Gross)..................... 69000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 73000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 79092....(495)......0
Total secured & HP debts...... 79092.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................3800......0.........0
Loan...........................13500.....202.......0
Loan...........................9000......0.........0
Loan...........................23800.....0.........0
Loan...........................14000.....0.........0
Loan...........................10000.....0.........0
Total unsecured debts..........74100.....202.......

Monthly Budget Summary
Total monthly income.................... 2,385
Expenses (including HP & secured debts). 1,601
Available for debt repayments........... 784
Monthly UNsecured debt repayments....... 202
Amount left after debt repayments....... 582
Personal Balance Sheet Summary
Total assets (things you own)........... 74,000
Total HP & Secured debt................. -79,092
Total Unsecured debt.................... -74,100
Net Assets.............................. -79,192

Can driving lesson's be added to the SOA, or does this account in your surplus?
Obviously again I've added the DLA, Child Benefit and Child Tax Credits, but not sure when its the real thing whether I need to add these?

Looks as though this is going to have to happen sooner than DH thought

fiveyearplan

Sammy3008 wrote: »

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1662
Partners monthly income after tax....... 0
Benefits................................ 723 This is DLA for our son, child benefit and Tax credits.
Other income............................ 0
Total monthly income.................... 2385
Monthly Expense Details
Mortgage................................ 495
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 35 this looks very low
Gas..................................... 58
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 25
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 30 will have to come out of surplus
Internet Services....................... 10 I'd add this to phone expense above
Groceries etc. ......................... 450 you can try 600
Clothing................................ 20
Petrol/diesel........................... 130
Road tax................................ 0 do you not pay road tax?
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 15 Buses for me, as don't drive.
Childcare/nursery....................... 0
Other child related expenses............ 35 Child's dinner money and snack money
Medical (prescriptions, dentist etc).... 18 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15 not usually allowed but leave in and see
Haircuts................................ 30
Entertainment........................... 5 not allowed
Holiday................................. 10 40
Emergency fund.......................... 5 not usually allowed but leave in and see
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1601

Assets
Cash.................................... 1000 This excludes the back pay our son got from DLA and Tax credits, obviously we'd pay the fees out of this (thought it could be for a rainy day, never mind, we got ourselves in this mess, we have to pay for it!, and the rest will be taken I imagine. Am I ok to leave the back pay from DLA and Tax credits in my account? (which at present is a joint account with DH) I'd take all this money out, as you say you are paying BR fees out of this and the rest will be for normal living expenses but don't leave it in the bank or it could be taken by OR. Is it just one of you going BR or both?
House value (Gross)..................... 69000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 73000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 79092....(495)......0
Total secured & HP debts...... 79092.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................3800......0.........0
Loan...........................13500.....202.......0
Loan...........................9000......0.........0
Loan...........................23800.....0.........0
Loan...........................14000.....0.........0
Loan...........................10000.....0.........0
Total unsecured debts..........74100.....202.......

Monthly Budget Summary
Total monthly income.................... 2,385
Expenses (including HP & secured debts). 1,601
Available for debt repayments........... 784
Monthly UNsecured debt repayments....... 202
Amount left after debt repayments....... 582
Personal Balance Sheet Summary
Total assets (things you own)........... 74,000
Total HP & Secured debt................. -79,092
Total Unsecured debt.................... -74,100
Net Assets.............................. -79,192

Can driving lesson's be added to the SOA, or does this account in your surplus?
Obviously again I've added the DLA, Child Benefit and Child Tax Credits, but not sure when its the real thing whether I need to add these?


Looks as though this is going to have to happen sooner than DH thought

Driving lessons cannot be added to SOA. I'm not sure if the DLA will be taken into account for IPA purposes but I'm sure someone else will be able to answer that.