Can someone look at my SOA!

fredfedup

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.................... 1

Monthly Income Details
Monthly income after tax................ 1423
Partners monthly income after tax....... 0
Benefits................................ 394
Other income............................ 0
Total monthly income.................... 1817

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 272
Management charge (leasehold property).. 0
Council tax............................. 97
Electricity............................. 65
Gas..................................... 65
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 27
Mobile phone............................ 35
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500
Clothing................................ 100
Petrol/diesel........................... 90
Road tax................................ 13
Car Insurance........................... 41
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 27
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 30
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 0
School Dinners.......................... 43
Child Maintenance....................... 148
Total monthly expenses.................. 1791




Monthly Budget Summary
Total monthly income.................... 1,817
Expenses (including HP & secured debts). 1,791
Available for debt repayments........... 26


Hope someone can check this over and tell us what you think! Any comments very much appreciated.

dottydora

I'm definately no expert, but from what I've read on here previously I guess people will say put the 2 phone ones under landline. School meals sounds cheap for the month, is this correct? I think you can have £10 per adult and £5 per child for haircuts. I'm sure someone else will be along soon, but looks ok to me. J.

In_a_Mess_3

what dotty said about the phones, I have included my mobile under my landline. I put £60, obviously I haven't had my interview yet so don't know if ok or not.

( we are a 2 adult, 2 child family btw)

I have also put £76 for school dinners for the 2 of them, and £150 for clothes.

dottydora

I was only put £105 for clothes for 5 of us so definately try £150, they can only say no! My phone and internet went down at £77 and they said they allow £61. Good Luck.

fredfedup

Thanks for the quick replies. Our littlest is at pre-school, so only one lot of school dinners. Am worried about 'other child related expenses' 2 little girls go to dance class on a saturday morning, and we take them both swimming once a week, do you think the OR will be OK with this? Just having one of my anxious days! Fred

dottydora

I think someone on here said you could allow £5 per child per week for clubs etc. If it isn't allowed then it can come from surplus and still shouldn't result in IPA. Since you have 2 little ones I suggest you look at clothing again because they they grow out of their clothes so quickly! Worth a try.

sizzler

Not very good at these but looks like your getting the right advice.

I will be doing mine and will post later in month.

Well done all

fredfedup

Thanks Dotty. Will certainly look at that. My eldest(5) is in to her second pair of school shoes already, she only started in September!

fredfedup

Bump.. Bump... Bumping along!

caeler

Your energy consumption looks high. I wonder if you can closely monitor your gas and electric for a while and see if that helps. I also wonder about BT, if you have a mobile (with a free minutes deal hopefully!) then you wouldn't make as many calls or does that include broadband? Maybe try and take hair cuts to every 2-3 months? I wonder if theres anything you can do about groceries, hard I'm sure to cut with kids but batch cooking and meal plans might help you cut a few pounds.

Its not clear from your SOA but do you have debts or are you trying to increase your saving ability? Ultimately if you are already debt free and just trying to stretch your earnings, your reward is your holidays.

Hope my thoughts help.

caeler

Sorry just realised the part of forum so ignore my question about current debt.