My Statement Of Affairs

Matchgirl

I don't have any debt, I just don't have any spare money and can't see any more corners to cut.

My son stays every other weekend.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1 alternate weekends
cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 397.8
Mortgage Payment........................ 256
Total monthly income.................... 653.8
Monthly Expense Details
Mortgage................................ 256
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 56
Gas..................................... 56
Oil..................................... 0
Water rates............................. 14
Telephone (land line)................... 16
Mobile phone............................ 14.69
TV Licence.............................. 11.88
Satellite/Cable TV...................... 0
Internet Services....................... 7.5
Groceries etc. ......................... 100
Clothing................................ 0
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).... 10.23
Pet insurance/vet bills................. 0
Buildings insurance..................... 13.63
Contents insurance...................... 13.63
Life assurance ......................... 17.5
Other insurance (Mortgage Endowment).... 54
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10.5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 661.56

Assets
Cash.................................... 0
House value (Gross)..................... 136000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets (Mortgage endowment)....... 48000
Total Assets............................ 184000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 48000....(256)......0
Total secured & HP debts...... 48000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 653.8
Expenses (including HP & secured debts). 661.56
Available for debt repayments........... -7.76
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -7.76
Personal Balance Sheet Summary
Total assets (things you own)........... 184,000
Total HP & Secured debt................. -48,000
Total Unsecured debt.................... -0
Net Assets.............................. 136,000
Created using the SOA calculator at makesenseofcards.com Reproduced on Moneysavingexpert with permission, using Firefox browser.

misspoppy

HI

the only thing I can see is the fuel why do you spend so much if you don't have a job? What is your £54 insurance for? Have you checked you are getting all the benefits you are entitled to?

Matchgirl

The £54 is the mortgage endowment.

That is the monthly costs based on last years usage. I am careful with the amount I use and I don't have my heating on yet.

I'm on IB that's all I get.

RAS

Hi

if your fuel costs are that high, you need to explore what is going on. Have you checked out what support you can get from Warmfront/ Energy Saving trust. Being on IB you would be eligible for an energy efficient boiler if necessary, insulation, draught exclusing work.

If you combine your building and contents insurance can you get a better deal and claim cashback?

What is £48000 other assets?

Matchgirl

The £48000 is the value of the endowment to pay off the mortgage.
The Building and contents are together I just split it to fill the form in.
I've had insulation and draught exclusion done. Will look into replacing the boiler.
I thought my fuel costs were below average, will have to try and cut back. I keep regular meter readings so I look more closely.

Numpty_Monkey

Have a check on http://www.entitledto.co.uk/default.aspx
to see if you are getting full benefits
Why are you paying prescrition charges?
you should get them free, if not ask at Job Centre plus office for a HC1 form

As others have noticed the gas and electric is high, are you paying off arrears?
Check the comparrison sites
have a read of Martins Article
http://www.moneysavingexpert.com/utilities/

Numpty_Monkey

And you can do online surveys and daily clicks for some extra money:D

Matchgirl

It is a monthy dentist charge. I have to go private as there are no nhs dentists taking on new patients round here.

No arrears for the gas or electric, I will look again at the comparison sites again.

On-line surveys sounds interesting. Where do I find out about them?

RAS

Matchgirl wrote: »

I've had insulation and draught exclusion done. Will look into replacing the boiler.
I thought my fuel costs were below average, will have to try and cut back. I keep regular meter readings so I look more closely.

http://www.energysavingtrust.org.uk/Easy-ways-to-stop-wasting-energy/Energy-saving-grants-and-offers

One thing to do might be to go round the house and switch everything off except the freezer. See how much that uses over a couple or hours. Ditto the fridge.

There was a programme where a guy discovered his fridge was using £30 worth of leccie per month. It paid him to get a new AAA one for £120.

Do you have energy saving light bulbs - another £7-12 a year each.

Bagpuss741

To me your groceries seem high at £100 when it's only you in the house the majority of the time. Head over to the old style board they are fab and will help you reduce this. I don't spend this and there's four and a dog to feed:D

http://forums.moneysavingexpert.com/forumdisplay.html?f=33

RAS

Posted this for someone esle but you might find some ideas here

Other things

1. What is there knocking about the house/flat that you can sell on amazon, e-bay or at a car boot sale? - even if it is not a lot.
2. Do you have food in the cupboards/fridge/freezer? Go over to the OLD Style forum and do a store cupboard challenge - live of the stores and only buy milk/bread etc.
3. Learn about cashback sites - you may not get the insurance any cheaper but you may get £50 for swapping supplier.
4. Look for EagerLearner's excellent threads on clicks and survey sites. http://forums.moneysavingexpert.com/....html?t=609037 These do not affect your benefits but could bring you anything upto £30 per month.
5. Check the freebies section on here for stuff for pressies and treats.
6. join www.freegle.co.uk or www.freecycle.com depending on your area for clothes, household goods, electrical gear etc.