any advice on SOA please

MS_Dolphin

Hi, well done for posting.

Was going to comment on the emergency fund, but your last post beat me to it.

I know from my experience that it took me about 10 goes to get the SOA right, so some of the areas where you are unsure or are going through a change of circumstances - such as husband's new business - really iron them out and get a handle on the figures.

What do you do with the £348 extra you have (or will have when you get paid)? Make a plan for it.

What happens with the credit cards when they come off the 0% rates? You mentioned planning to pay off extra on your mortgage. In terms of most cost effective way to do things, this is fine whilst your short term debt is on 0%, but generally you should look to put any extra payments to higher interest short term debt. Once this is paid then the extra funds can be diverted to the mortgage.

The only expense that seems really out of the range is the clothing figure, I'd try to reduce this and generally really examine all other areas - spending logs and comparison sites etc.

Good luck with it all.

morg_monster

Hiya, I was wondering why you don't have buildings or contents insurance? I was thinking perhaps it was a Sharia thing but then you seem to have a "regular" mortgage so maybe not... It is a condition of most mortgages that the building is insured...

plzhelpmesave!

morg_monster wrote: »

Hiya, I was wondering why you don't have buildings or contents insurance? I was thinking perhaps it was a Sharia thing but then you seem to have a "regular" mortgage so maybe not... It is a condition of most mortgages that the building is insured...

my mistake! hubby took it out the other week at £18 a month for both.

I'd cancelled the previous one a couple of weeks ago when the renewal came through at £20 than the previous year (no claims ever!), went through all the quidco and comparison sites, and it was still coming up expensive.... so i got fed up and left it to him!!

Poosmate - my virgin is on 0% and that's the rate they gave me! have recently transferred it to egg on a 0% and will update SOA when the new amount goes out - not made a payment yet!