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My SOA

I'll just do it..... ugh!



Income

Husband 2000
Me* 1634
Child benefit 68
Tax credit 41
DD1 25 car ins

Total 3768
* (new job soon for me, probably by August – between 5-10K per year extra)

Outgoings

20,000 loan 60 months APR 7.4% Dec 2005 397.00
6,400 loan 60 months APR 10.9% Mar 2006 137.21
Mum loan interest free 200.00
Clothes savings account (husband) 20.00
House contents 39.98
Car lease (to end July) 88.91
TV license 8.00
Car loan 12 months remaining 142.85
Apple laptop insurance 9.99
Mobile-me 31.80
Mobile-DD3 22.50
Laptop insurance (DD1) 18.30
Laptop insurance (DD2) 18.30
Mortgage 775.72
(103,894 remaining over 17 years)
Water 37.42
Mortgage cover (for £80K) 19.33
Council tax 135.42
House buildings insurance 29.75
Car insurance-husband 50.33
T mobile 43.40
Sky…husband on phone as I type
(reduced to £25 for three months) 56.25
Hospital cover ins 4.10
Elec 68.00
Gas 66.00
NTL 25.00
Mobile insurance 4.99
Car insurance DD1 (to finish in July) 44.66
O2 23.98
Car insurance - mine 56.51
Food 400.00
(according to first direct tool)
Petrol 80.00
Piano lessons DD3 48.00
Total £3103
Income minus usual outgoings = £665



Other Debts

Mortgage Reserve account. Interest only @ variable rate 63826.35
Amex balance transfers 5.9% life of balance 6997.00

The killers

DD2 uni fees to find. These are for accommodation. She pays fees and food.


August 2006 1238
Jan 2007 988
April 2007 988
Total £3214

DD1 Uni fees. Accommodation. Not sure how it will be claimed yet but know it’s £65 per week over 50 week contract starting July.


Total £3250

My husband’s car is probably worth £14K. We plan to sell and buy a cheaper one and hopefully release £4-6K

I have not accounted for going out, clothes, presents, husband’s golf fees (!) or holidays.

Good news ……. Husband gets lump sum in 2009 of £90K


Bad news…… my adding up for this SOA is probably wrong.
de do-do-do, de dar-dar-dar ;)
«134567

Comments

  • moo842
    moo842 Posts: 446 Forumite
    thats an awful lot of cars but can't see car tax!
    over £90 on mobiles, this needs to be cut
    sky needs to be cut permenently
    how many children do you have at home £400 on food is really high have you looked on the os board
  • Well done hun, I'm proud of you! :kisses3:

    Loads of questions now but here we go!

    Council tax seems high. Is this arrears or do you just live in a high band area?

    Whats T-mobile? Hubbys phone? Are you all on best plans? Loads of free minutes that sort of thing?

    Why did you get loans in Dec and Mar? Don't you know we are against them? :p

    Have you shopped about for the best insurances? Incidentally ditch the laptop ones! Waste of money IMHO!

    Electric and gas seem high? Do you live in a castle? ;) Do you have the heating on but windows open, that sort of thing?

    Get rid of mobile insurance! Thats £60 a year! You can buy one for less than that!

    People will tell you you could halve your food budget. Get over to old style before anyone else spots it! ;)

    Regarding other debts, whats the mortgage reserve account? Sorry don't know what that is! :o

    Hang on a minute! 4 mobiles and 3 laptops! :eek: :rotfl:
  • nelly_2
    nelly_2 Posts: 17,863 Forumite
    10,000 Posts Combo Breaker
    wouldnt laptops be covered under house insurance anyway i know my video camera is even abroad .
  • Council tax seems high. Is this arrears or do you just live in a high band area?

    It is correct. I am posh(fur coat no knickers :D )

    Whats T-mobile? Hubbys phone? Are you all on best plans? Loads of free minutes that sort of thing?

    This one was a mistake. As each contract ends it will be PAYG time.

    Why did you get loans in Dec and Mar? Don't you know we are against them?

    I know that now :o Things were getting grim with the fees and the bank bullied me. The big one was mainly for the car (another mistake... we were going to buy a new one and sell mine but just after we bought the new one my husband lost the use of a company car and so we need two still)

    Have you shopped about for the best insurances? Incidentally ditch the laptop ones! Waste of money IMHO!

    Well they're for the DDs in uni. We've claimed 4 times so far :confused:

    Electric and gas seem high? Do you live in a castle? Do you have the heating on but windows open, that sort of thing?

    I live in a 5 bed, 3 storey house, no turrets but I have a portcullis.

    Get rid of mobile insurance! Thats £60 a year! You can buy one for less than that!

    I agree. I'll do that next week.

    People will tell you you could halve your food budget. Get over to old style before anyone else spots it!

    That £400 was before i started trying. I have a breadmaker/slowcooker etc and I now shop at Lidls :D

    Regarding other debts, whats the mortgage reserve account? Sorry don't know what that is!

    That's like a flexible amount linked to the mortgage account to draw upon. We did! It was mainly building work.


    .... your turn ;)


    This isn't so bad yet :eek:
    de do-do-do, de dar-dar-dar ;)
  • nelly wrote:
    wouldnt laptops be covered under house insurance anyway i know my video camera is even abroad .


    Hiya nelly :D

    Those laptops are in uni with my two daughters :rolleyes:
    de do-do-do, de dar-dar-dar ;)
  • Josie64
    Josie64 Posts: 246 Forumite
    I'll just do it..... ugh!



    Income

    Husband 2000
    Me* 1634
    Child benefit 68
    Tax credit 41
    DD1 25 car ins

    Total 3768
    * (new job soon for me, probably by August – between 5-10K per year extra)

    Outgoings

    20,000 loan 60 months APR 7.4% Dec 2005 397.00
    6,400 loan 60 months APR 10.9% Mar 2006 137.21
    Mum loan interest free 200.00
    Clothes savings account (husband) 20.00
    House contents 39.98
    Car lease (to end July) 88.91
    TV license 8.00
    Car loan 12 months remaining 142.85
    Apple laptop insurance 9.99
    Mobile-me 31.80
    Mobile-DD3 22.50
    Laptop insurance (DD1) 18.30
    Laptop insurance (DD2) 18.30
    Mortgage 775.72
    (103,894 remaining over 17 years)
    Water 37.42
    Mortgage cover (for £80K) 19.33
    Council tax 135.42
    House buildings insurance 29.75
    Car insurance-husband 50.33
    T mobile 43.40
    Sky…husband on phone as I type
    (reduced to £25 for three months) 56.25
    Hospital cover ins 4.10
    Elec 68.00
    Gas 66.00
    NTL 25.00
    Mobile insurance 4.99
    Car insurance DD1 (to finish in July) 44.66
    O2 23.98
    Car insurance - mine 56.51
    Food 400.00
    (according to first direct tool)
    Petrol 80.00
    Piano lessons DD3 48.00
    Total £3103
    Income minus usual outgoings = £665



    Other Debts

    Mortgage Reserve account. Interest only @ variable rate 63826.35
    Amex balance transfers 5.9% life of balance 6997.00

    The killers

    DD2 uni fees to find. These are for accommodation. She pays fees and food.


    August 2006 1238
    Jan 2007 988
    April 2007 988
    Total £3214

    DD1 Uni fees. Accommodation. Not sure how it will be claimed yet but know it’s £65 per week over 50 week contract starting July.


    Total £3250

    My husband’s car is probably worth £14K. We plan to sell and buy a cheaper one and hopefully release £4-6K

    I have not accounted for going out, clothes, presents, husband’s golf fees (!) or holidays.

    Good news ……. Husband gets lump sum in 2009 of £90K


    Bad news…… my adding up for this SOA is probably wrong.

    hi,
    our house ins is with pearl for both contents/buildings at 17 month , just wondering but could you add all the laptop ins onto the house ins, would that be cheaper that having seperate or does ins come with the laptops?

    sky and NTL , can't you get sky , telephone and internet for 30 a month with NTL (only head about this, don't know anyone who has this package ) got Freeview myself and internet broadband 14.99 month

    holidays - we save up tokens from newspaper , had a great holiday for a week for me, hubby and 18yr old son for 38 week last september and that included entertainment passes!
    __________________
  • We plan to spend two weeks in France with friends so ferry only to pay.

    .........I accidentally booked that already:o
    de do-do-do, de dar-dar-dar ;)
  • All I can say is you really do like your insurances don't you!! Nearly £45/month on laptops, £145/month on cars, £30/month on home insurance and £5/month on mobiles. Have you checked the small print for the laptop and mobiles and checked exactly what they pay out for, cos at £540 a year, unless they all go wrong it'd probably be cheaper to buy a new one. For theft they're probably included under your hosuehold insurance, and for DD1&2 most student insurance policies cover laptops at an extra cost (make sure you value them at what they'd cost to replace not what they cost to buy, cos you pay about £8 for every £100 of value, my dad was paying for quadruple what mine was worth!)
    Have you checked your car insurances are the most competitive, including places that offer discounts for having 2 or more cars insured with them? Direct Line are the only ones I can think of, but I'm sure there are more.
    How many mobiles are you paying for, you've got yours and DD3, but also pay O2 and T-mobile every month. Is there any chance that some or all of you could switch to PAYG to cut the cost?
    Just a word of warning although I'm sure you already know it, don't rely on the £90k in 2009, and keep extending your credit cos you know you're getting it, before you realise it you'll have £90k worth of debt if you think like that, and very little to show for it. My sister inherited some money, but it will all have to go on paying back what she spent in anticipation, so she's getting v little fun from it now. In fact without a right nag she'd probably have spent it three time over!
    £2 Coin Savers Club £14 :j (joined 18/2/06)
  • You got a pic of the fur coat no knickers? ;) :rotfl:

    I still think you could cut the electric. Get in the habit of switching things off at the mains and not leaving lights on in rooms you leave perhaps!

    Laptop insurance is costing you £560 a year though! :confused:

    You sure you've got the best deals on car insurance? Mine is less than £400 a year but that is with 5 years no claims (I'm male so instantly a good driver ;) )

    Was internet on there? :confused:

    The loans are a bugg3r coz quite often snowballing is the more affective way but never mind.

    Are you claiming your bank charges back?
  • All I can say is you really do like your insurances don't you!! Nearly £45/month on laptops, £145/month on cars, £30/month on home insurance and £5/month on mobiles. Have you checked the small print for the laptop and mobiles and checked exactly what they pay out for, cos at £540 a year, unless they all go wrong it'd probably be cheaper to buy a new one. For theft they're probably included under your hosuehold insurance, and for DD1&2 most student insurance policies cover laptops at an extra cost (make sure you value them at what they'd cost to replace not what they cost to buy, cos you pay about £8 for every £100 of value, my dad was paying for quadruple what mine was worth!)
    Have you checked your car insurances are the most competitive, including places that offer discounts for having 2 or more cars insured with them? Direct Line are the only ones I can think of, but I'm sure there are more.
    How many mobiles are you paying for, you've got yours and DD3, but also pay O2 and T-mobile every month. Is there any chance that some or all of you could switch to PAYG to cut the cost?
    Just a word of warning although I'm sure you already know it, don't rely on the £90k in 2009, and keep extending your credit cos you know you're getting it, before you realise it you'll have £90k worth of debt if you think like that, and very little to show for it. My sister inherited some money, but it will all have to go on paying back what she spent in anticipation, so she's getting v little fun from it now. In fact without a right nag she'd probably have spent it three time over!


    Very good points.

    I think I will cancel the insurances.
    The phones will be changed asap to PAYG.
    .... and I definitely don't want to borrow any more money.


    That's the main thing that this site has done for me, as I've read the posts.
    I've realised that I need to pay it back! Very simple lightbulb moment :o

    That 90K is for the mortgage.
    de do-do-do, de dar-dar-dar ;)
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