please can u help me help my mum?

cloverfan

hi everyone, i was wondering if u could look over my mums soa and tell me what u think? any ideas would be appreciated. Mum has never had to do her own finances as Dad took care of everything. Now she is so worried about it and i just want to help her try and make things easier in anyway i can


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 412
Other income............................ 346
Total monthly income.................... 758
Monthly Expense Details
Mortgage................................ 133
Secured/HP loan repayments.............. 87
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 41
Electricity............................. 100
Gas..................................... 0
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
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).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 70
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 783

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(133)......0
Secured Debt.................. 0........(87).......0
Total secured & HP debts...... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
tsb............................0.........30........0
halifax........................0.........30........0
Total unsecured debts..........0.........60........-

Monthly Budget Summary
Total monthly income.................... 758
Expenses (including HP & secured debts). 783
Available for debt repayments........... -25
Monthly UNsecured debt repayments....... 60
Amount short for making debt repayments. -85
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

cloverfan

the other income is my sisters dla, she is dependant on my mum

Ames

cloverfan wrote: »

hi everyone, i was wondering if u could look over my mums soa and tell me what u think? any ideas would be appreciated. Mum has never had to do her own finances as Dad took care of everything. Now she is so worried about it and i just want to help her try and make things easier in anyway i can


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2 I take it the other adult is you?
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 412
Other income............................ 346What's this, your contribution?
Total monthly income.................... 758
Monthly Expense Details
Mortgage................................ 133
Secured/HP loan repayments.............. 87 How long left to run?
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 41
Electricity............................. 100 Ouch this is really high, I live in a one bed all electic flat and mine's 33 a month (I'm disabled so I'm in all day). Use energy saving bulbs, turn everything off at the plug, put a jumper on before the heating, don't use the tumble dryer, and it should come down a lot. Unless there's arrears and that's why it's so high?
Gas..................................... 0
Oil..................................... 0
Water rates............................. 40 If you check your suppliers website there'll be a calculator to see if you'd be better off on a meter. It's free to have one fitted, and if it turns out to be more expensive then you can have it removed for free within a year. This should be a lot cheaper for you.
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200 This can come down a bit, check out the old style board for tips on batch cooking from scratch.
Clothing................................ 0 Probably should be a little something here.
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).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35 Does this include contents?
Contents insurance...................... 0
Life assurance ......................... 70 Shop around on renewal for the best deals for all the insurances.
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 This is way too high and can easily be cut down, only buy for kids, make as much as you can etc.
Haircuts................................ 0 probably should be a little bit here
Entertainment........................... 0 should be a bit here
Holiday................................. 0
Emergency fund.......................... 0and a bit here.
Total monthly expenses.................. 783

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(133)......0
Secured Debt.................. 0........(87).......0
Total secured & HP debts...... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
tsb............................0.........30........0
halifax........................0.........30........0
Total unsecured debts..........0.........60........-

Monthly Budget Summary
Total monthly income.................... 758
Expenses (including HP & secured debts). 783
Available for debt repayments........... -25
Monthly UNsecured debt repayments....... 60
Amount short for making debt repayments. -85
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

There's scope to cut back, but we really need the total amounts of the debts, and if possible the interest rates. I'm guessing they're credit cards?

It's not too bad because with a few tweaks it should balance, but we need the whole picture really.

How fit is your mum, would she be able to do some part time work, dog walking or doing laundry or something?

I'm sure people better than me will be along soon.

Ames

Oops cross posted, I didn't see the bit about your sister. that'll make it harder for your mum to get a job, but not impossible. Does your mum claim everything she can? Check out https://www.entitledto.com (or it could be .co.uk) to see if there's anything else she can claim.

sleepless_saver

How old is your mum? And what are the benefits she is receiving? Sorry to ask, but is your dad deceased, if so when and did your mother claim bereavement benefits?

katsu

I definitely agree re electricity and water bills. Explore the water meter and get the details of the bills to see if the electric bills are over-estimates, significant arrears or if this is correct. If it is correct look online for a cheaper provider (follow the links on the main utilities page) and try to cut down. Tips for that include:

*curtains - everywhere, thick ones from the charity shop. I've hung one on a curtain wire over my uPVC double glazed front door - makes a significant difference somehow!
*go to wilkinsons and buy a flap for the back of the letterbox, cut down on draughts.
*seal gaps around windows, skirting boards etc
*draught excluders around doors - I use old towels, just put down, no need to sew.
*fleece - sold in sewing shops you can buy bigger lengths than blankets. We use a long bit twice the length of our bed, so we get in it under the duvet. Most toasty.
*blanket under bottom sheet (if you are not sleeping in fleece - or maybe also to be extra toasty).
*energy saving lightbulbs - cheap in places like asda.
*line your window curtains - use fleece or thermal curtain linings, frankly anything will help
*put a blanket on the sofa - to sit on all day if surface is cold, and another one to snuggle under.

slummymummyof3

Does your mum have Aldi or Lidl nearby that she could shop in as she would save a considerable amount on her groceries even just on fruit and veg.

Buildings insurance seems steep - does it include contents as well? Look at cash back sites for renewals, ditto for life insurance - although this will obviously depend on her age and any pre-exisisting conditions she may have.

cloverfan

of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2 I take it the other adult is you?no it is my sister
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 412
Other income............................ 346What's this, your contribution?my sisters
Total monthly income.................... 758
Monthly Expense Details
Mortgage................................ 133
Secured/HP loan repayments.............. 87 How long left to run?i think a long while i think it was a recent thing
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 41
Electricity............................. 100 Ouch this is really high, I live in a one bed all electic flat and mine's 33 a month (I'm disabled so I'm in all day). Use energy saving bulbs, turn everything off at the plug, put a jumper on before the heating, don't use the tumble dryer, and it should come down a lot. Unless there's arrears and that's why it's so high?this is on a metre but dad always did it so mum doesnt know she is guessing this one
Gas..................................... 0
Oil..................................... 0
Water rates............................. 40 If you check your suppliers website there'll be a calculator to see if you'd be better off on a meter. It's free to have one fitted, and if it turns out to be more expensive then you can have it removed for free within a year. This should be a lot cheaper for you.
she is on a metre andthey only shower etc...we are going to contact water board as they say its 20 a fortnight no arrears we know of
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200 This can come down a bit, check out the old style board for tips on batch cooking from scratch.i agree but again its an estimate coz dad did it all
Clothing................................ 0 Probably should be a little something here.
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).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35 Does this include contents?yes
Contents insurance...................... 0
Life assurance ......................... 70 Shop around on renewal for the best deals for all the insurances.this is what the bank have done
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 This is way too high and can easily be cut down, only buy for kids, make as much as you can etc.
Haircuts................................ 0 probably should be a little bit here
Entertainment........................... 0 should be a bit here
Holiday................................. 0
Emergency fund.......................... 0and a bit here.
Total monthly expenses.................. 783

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


dad passed away unexpectedly 7 weeks ago, mum is 59 and was claiming incapacity benefit and they had dads pension plus my sisters money(she is disabled and completely reliant on mum). mum has claimed bereavement allowance but has heard nothing back yet but has been told if she is entitled her incapacity will stop. she intends to sell the house and try to move closer to me. then she will pay off loan,cards etc... ideally we are hoping to get some kind of sheltered accomodation so when god forbid something happens to mum my sister can stay there.....on top of everything we are all in deep shock of losing dad......i thank you all so much for your ideas and trying to help us

Nottoobadyet

Hi Clover -

I dont have any wisdom on the MSE angle, but I did want to say that Im very sorry to hear about your loss and that your mum must be very brave indeed getting her life in order so soon after a serious shock like that. It sounds like you're a great support to her and Im sure everything will work out as best it can.

((hugs))

caeler

The home and contents insurance looks expensive. Unless they have any big expensive specific items listed then on renewal shop around. I'm sure they can save at least £10 per month on that.

With the electric - start doing regular meter readings so you can check usuage.

As already mentioned if they are paying that on a water meter but using water by the sounds of it very modestly it might be worth checking if the water meter is not leaking. You need to turn everything off and then check the dials are not moving.

katsu

Good luck with everything.

You say your Dad paid the bills and so your mum does not know what they were - some ideas for that:

*can she/you check old bank statements and see what went out to the utility companies and when (or if you don't have them in the house, go in to the bank, see someone and ask them to print off last 12 months or register for online banking and look them up online).
*contact the utility cos and ask them what your use/payment for last 12 months was.

This could then help you look at if she can save money by switching and also help her budget.