OR interview tomorrow, please comment on my SOA, some questions too

MicheH

Hi, here's my SOA. We have a car, parkers valuation at £2200 so don't know if we can keep that one but husband works 20 miles away and has to open depot at 7.30 am, 2 buses and 1+hour journey will not get him there in time to open up so we need to have a car whether it be a different one.

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1452
Benefits................................ 342 tax credits and child benefit included
Other income............................ 0
Total monthly income.................... 1794
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 132
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 11.5
Mobile phone............................ 40 mine and my husbands mobile costs there
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10 My distance learning course is online i.e all coursework and assessments held online and require a password to access pdf files
Groceries etc. ......................... 400
Clothing................................ 100 2 children, one is 1 year old and growing out of things quickly
Petrol/diesel........................... 100
Road tax................................ 18
Car Insurance........................... 30
Car maintenance (including MOT)......... 21
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 46 school meals, school milk, £5 school trips and £5 playgroup for baby
Medical (prescriptions, dentist etc).... 21
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 12 not sure about this, we surrendering policy we had for mortgage cover and want smaller 'pot' of money if one of us were to go
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 20
Husbands lunch.......................... 50 while working
Distance Learning Centre Access to Midwi 40
Total monthly expenses.................. 1686.5

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
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,794
Expenses (including HP & secured debts). 1,686.5
Available for debt repayments........... 107.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 107.5
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.

What I don't understand is that I have a surplus of £107 but I have added child benefit money there, surely money that is for my children can't be used in an IPA?

If that money isn't taken into account I have a shortfall, don't know what to do

fiveyearplan

I would put the mobile expense in with phone and put £55.
Not sure about the insurance.
Husband's lunches come out of housekeeping but you can up that to £600
If the last thing on there £40 is for travel to to tutorials for your course put it under other travel.

Good luck with it!

MicheH

The £40 is for 'Access to Midwifery' that's my course fees, I stay at home to do it on the internet.

I didn't realise I was allowed £600 for shopping, I'm pleased because I know I underestimated my husbands lunches. I wanted to make him packed lunches but that ends up costing a lot of money for a man. I'd be able to do it if I was allowed to spend £600 on food.

Thank you