Soa

embrace1204

So how do I include him without revealing his income etc? Really confused now. How do I show that he's pays half as do I?

fiveyearplan

Say he makes 1500 per month then show the joint bills in full (say joint bills come to £2000 put his contribution down at £1000) - look through this forum and see how others have done it.

embrace1204

He owns his own home and pays the mortgage and I pay him rent, so do I need to put the rental figure down as the full cost of the mortgage if i'm joining it all together and then showing his contribution?

Sorry for all the questions but i've not found anyone doing a SOA when they have their own home, and their b/f has his own home that they pay rent to.

embrace1204

My current income is £1507 so over £300 less than on the original SOA above.

fiveyearplan

Okay, so now make all the changes to your SOA and post it up again. The way you have it now you would be liable to pay a hefty IPA.

We'll have a new look at it when you've made the changes.

embrace1204

Here's the 'realtime' SOA

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1507
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2157
Monthly Expense Details
Mortgage................................ 603
Secured/HP loan repayments.............. 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 135
Electricity............................. 80
Gas..................................... 0
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 30
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 380
Clothing................................ 25
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 30
Buildings insurance..................... 27
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 2034

Assets
Cash.................................... 0
House value (Gross)..................... 118500
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 118500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 110500...(603)......5.5
Total secured & HP debts...... 110500....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
N Rock.........................24000.....116.......5.5
Hsbc...........................11500.....142.......0
Co-op..........................11500.....137.......19
gus............................600.......18........0
barclaycard....................2500......70........19
hfc............................3500......68........0
Total unsecured debts..........53600.....551.......-

Monthly Budget Summary
Total monthly income.................... 2,157
Expenses (including HP & secured debts). 2,034
Available for debt repayments........... 123
Monthly UNsecured debt repayments....... 551
Amount short for making debt repayments. -428
Personal Balance Sheet Summary
Total assets (things you own)........... 118,500
Total HP & Secured debt................. -110,500
Total Unsecured debt.................... -53,600
Net Assets.............................. -45,600
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.