Want to see the wood not the trees

andrinaperry

I have started my diary many times but now my desire is just to not fear the postman. I worry everytime I hear the letter box got that is something else to pay.

I am most disorganised and have absolutely no idea how good or bad our financial situation is and I guess I am scared to find out.

I just spend, dont know on what and I am not sure where to start.

HELP!!!!!!

Horace

Hi - perhaps posting your statement of affairs may help and this will show what income you have coming in and where you are spending. It will be scary as you will face your credit card debts etc - you will need the APRs for your cards. the balance outstanding and the amount you pay each month. Also you need to think why you are spending..once you acknowledge that then things will become easier and with the help of the lovely peeps on this board we can help you cut back, not spend and re-use.

https://www.makesenseofcards.com/soacalc.html - follow the instructions on there to format it for MSE and copy and paste it here (removing any web links from the bottom as you will be unable to post those here).

GeorgeUK

First step is to get organised.

You need to get all your financial papers together and just sort them into date order. The last balance is the important one.

You could fill in a statement of affairs (try to make it as accurate as possible) and we can see if there are any savings that can be made in your expenditure.
http://www.makesenseofcards.com/soacalc.html

It might also be worth having a look at your credit file (free at experian if you cancel within 30 days) to see if everything is okay there and that you are listed on the electoral roll at your address.

andrinaperry

First step I have opened evry piece of correspondence into this house and I have sorted the council tax out for this year, one job down

andrinaperry

george and horace thank you for the advice my credit file is way too scarey to look at,

misspoppy

well done for opening the post and sorting out the ct.

Whats next on the list? SOA?

andrinaperry

yes I will try is there a link to make it easy - well easier

misspoppy

yes there is, I'm not sure how to post the link but if you got to the front page of this forum at the top there are "stickies" with details for first time posters and in there is a link to a SOA which can be uploaded onto this thread

andrinaperry

I will give it a go

andrinaperry

SOA

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1335
Partners monthly income after tax....... 2200
Benefits................................ 81
Other income............................ 0
Total monthly income.................... 3616

Monthly Expense Details
Mortgage................................ 1615
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 126
Electricity............................. 100
Gas..................................... 100
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 12.5
Mobile phone............................ 70
TV Licence.............................. 11
Satellite/Cable TV...................... 21
Internet Services....................... 15
Groceries etc. ......................... 480
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 40
Car Insurance........................... 45
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 80
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 25
Contents insurance...................... 0
Life assurance ......................... 35
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 200
Emergency fund.......................... 0
Total monthly expenses.................. 3155.5


Assets
Cash.................................... 0
House value (Gross)..................... 240000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 244000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 190000...(1615).....9.99
Total secured & HP debts...... 190000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
PERSONAL LOAN..................1267......100.......0
PROVIDENT (FROZEN).............8000......40........0
Total unsecured debts..........9267......140.......-


Monthly Budget Summary
Total monthly income.................... 3,616
Expenses (including HP & secured debts). 3,155.5
Available for debt repayments........... 460.5
Monthly UNsecured debt repayments....... 140
Amount left after debt repayments....... 320.5

Personal Balance Sheet Summary
Total assets (things you own)........... 244,000
Total HP & Secured debt................. -190,000
Total Unsecured debt.................... -9,267
Net Assets.............................. 44,733

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

andrinaperry

So where is the excess going,