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Another soa!!!!!!!
dojoman
Posts: 12,027 Forumite
Can anyone please take a look at our SOA and tell me if it is about right?
The child we have at home is 6` 4" and eats more than we do, but I do not know if that is taken in to account. He also needs access to the internet for his college studies.
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.................... 1
Monthly Income Details
Monthly income after tax................ 1525
Partners monthly income after tax....... 0
Benefits................................ 975
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 118
Electricity............................. 112
Gas..................................... 43
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 17
Groceries etc. ......................... 450
Clothing................................ 75
Petrol/diesel........................... 100
Road tax................................ 11
Car Insurance........................... 26
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 63
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1893
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,893
Available for debt repayments........... 607
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 607
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 4,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
The child we have at home is 6` 4" and eats more than we do, but I do not know if that is taken in to account. He also needs access to the internet for his college studies.
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.................... 1
Monthly Income Details
Monthly income after tax................ 1525
Partners monthly income after tax....... 0
Benefits................................ 975
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 118
Electricity............................. 112
Gas..................................... 43
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 17
Groceries etc. ......................... 450
Clothing................................ 75
Petrol/diesel........................... 100
Road tax................................ 11
Car Insurance........................... 26
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 63
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1893
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,893
Available for debt repayments........... 607
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 607
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 4,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!
Life`s Tragedy is that we get OLD too soon
and WISE too late!
0
Comments
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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.................... 1
Monthly Income Details
Monthly income after tax................ 1525
Partners monthly income after tax....... 0
Benefits................................ 975
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 118
Electricity............................. 112 Seems on the high side
Gas..................................... 43 Increase to £60
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 17 May not allow, has to be shown as essential
Groceries etc. ......................... 450
Clothing................................ 75
Petrol/diesel........................... 100
Road tax................................ 11
Car Insurance........................... 26
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 63 O.R. may have an interest in this
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1893
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly.. .APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,893
Available for debt repayments........... 607
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 607
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 4,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
Have made a few comments.
Does your partner work? If so you need to add what contribution they make per month towards bills etc.
My SOA was for 2 adults and 1 child and was very similiar to yours and most things were allowed. OR only allowed me £400 for shopping which was what they used on their formula for expenses.
Your car has to be essential to you to keep it.
0 -
Thanks for the quick reply, no my wife does not work at all. I know the car may have to go, but I am registered disabled and need some sort of transport. Also the LI are both term assurances and do not have any surrender value, am I right in believing we can buy these back?:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
I really dont know the answer to that one, but I'm sure someone with more experience than me will come along shortly with an answer. Good luck.0
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£450 only works out at £4.94 per person per day, I do not think that is too excessive.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
Sorry do not know what has happened here, the above post was in answer to someone else, but for some reason their post has disappeared.
:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
Thanks for the quick reply, no my wife does not work at all. I know the car may have to go, but I am registered disabled and need some sort of transport. Also the LI are both term assurances and do not have any surrender value, am I right in believing we can buy these back?
Yep....you can buy the OR's interest out at the cost of £50 or so per policy
We all die. The goal isn't to live forever, the goal is to create something that will0 -
BUMP,
Would appreciate as many comments as possible please. The SOA you see here was originally for an IVA and was put together by an IP. I am going to contact my electricity supplier tomorrow to see if I can reduce that payment. Apart from the electricity figure how do the others look?:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
dojo I don't know much but I do know that an SOA for a BR compared with one for an IVA have different allowances.
This looks OK for a BR but I would probably up the clothing amount. Even if your "child" has reached his full height there will be a lot of wear and tear over the winter months!
Hopefully somebody else will be along to help you soon.0 -
dojo I don't know much but I do know that an SOA for a BR compared with one for an IVA have different allowances.
This looks OK for a BR but I would probably up the clothing amount. Even if your "child" has reached his full height there will be a lot of wear and tear over the winter months!
Hopefully somebody else will be along to help you soon.
I was allowed £70 and theres one adult one child in my home so you may be able to claim more.0 -
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