Debt Advice Please

Ames

jokemckay wrote: »

Hope this is right,

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................ 1469
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1469
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 213.88
Management charge (leasehold property).. 0
Council tax............................. 119 seems high for such low rent? Could you pay over 12 months instead of 10.
Electricity............................. 42
Gas..................................... 42 These are high, check out uswitch for the best deals then go through quidco to get cashback
Oil..................................... 0
Water rates............................. 0 are you in scotland?
Telephone (land line)................... 15
Mobile phone............................ 27 try to cut your tariff, then go PAYG asap
TV Licence.............................. 12.12
Satellite/Cable TV...................... 30 You can't afford this luxury
Internet Services....................... 38 :eek: you should be able to knock this down to a tenner or less
Groceries etc. ......................... 160 could be cut by batch cooking
Clothing................................ 15 cut down to essentials only, and check out ebay, freegle and charity shops for the little one.
Petrol/diesel........................... 150 make sure you're driving economically
Road tax................................ 15
Car Insurance........................... 40 shop around for the best deal when it's up for renewal and go through quidco
Car maintenance (including MOT)......... 0 you need something here
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 5
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0 as you've got kids there should be something here
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 this can be cut to 10, do kids only and make as much as you can
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 953

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
HBOS...........................6476.34...220.......6.12
MBNA...........................2401.45...83.62.....15.9
Royal Bank Scotland............1665.8....37........16.9
bos............................200.......10........0
HBOS...........................100.......10........0
Very...........................250.......85........0
Tesco..........................2918.42...58........15.9
Bank Of Scotland...............1620.99...16.2......21.9
Total unsecured debts..........15633.....519.82....-

Monthly Budget Summary
Total monthly income.................... 1,469
Expenses (including HP & secured debts). 953
Available for debt repayments........... 516
Monthly UNsecured debt repayments....... 519.82
Amount short for making debt repayments. -3.82
Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -15,633
Net Assets.............................. -15,333

I've put a few thoughts in red. I have a suspicion that maybe you keep your finances seperate, that your OH has her own income and pays some things, like half the rent?