Soa

BellaBeau

I think I have included everything, please let me know if I have missed something.

Two adults and two children in house.
We own one car and one motorbike.

Monthly Income Details
Monthly income after tax................ 2600
Partners monthly income after tax....... 528
Benefits................................ 150 (family allowance)


Total monthly income.................... 3278


Monthly Expense Details
Mortgage................................ 507.00
Secured/HP loan repayments.............. 405.50 3 years left to pay


Council tax............................. 88.00
Electricity............................. 57.00
Gas..................................... 84.00
Water rates............................. 30.55
Telephone (land line)................... 22.5
Mobile phone............................ 49.42
TV Licence.............................. 12.12
Satellite/Cable TV...................... 30.89
Internet Services....................... 4.89
Groceries etc. ......................... 200
Clothing................................ 0 (dont buy clothes if I can avoid it)
Petrol/diesel........................... 200
Car Insurance........................... 37.48
Pet insurance/vet bills................. 8.79
Buildings/contents insurance..................... 28.9
Childrens activitie


Total monthly expenses.................. 1767.04[/b]









Secured & HP Debts
Description....................Debt......Monthly...
Mortgage 60.000 (507)
Secured Debt.................. ........(405.5).




Unsecured Debts
Description....................Debt......Monthly...APR
Cap 1................ .1.500.........50........?
Mint ................250.00........5.........?
EGG................ 6.814.22.......208.7.....26.9%
Overdraft ............5000... this doesnt really get paid off, only when wages get paid in but then used again by the end of the month.

Loan from family.................3.4.......150.......0
Store cards.................0.........38........
Total unsecured debts..........8.4.......451.7.....



Monthly Budget Summary
Total monthly income.................... 3,278
Expenses (including HP & secured debts). 1,782.04
Available for debt repayments........... 1,405.96
Monthly UNsecured debt repayments....... 451.7
Amount left after debt repayments....... 1,044.26 ?????????

I just cant see where the amount after repayments is going to, I think I have included everything here. We did pay for our lunches when we are at work but now take lunch with us everyday. I rarely buy clothes for hubby and me. DS gets hand me downs and DD I have to buy for but only when her clothes no longer fit. Our life insurance and pensions are tied up with hubbys work so I havent included them here. I have absolutley no chance of changing credit card companies to get 0% apr due to bad credit so cant do this.

katsu

Do you need to go through your bank statements/keep a spending diary to find out where else your money goes? No entertainment, haircuts, presents... I think you may be missing bits of your SOA.

Also credit card debts of 0??? Try and find your balances - even if you are not 100% right, last month's statements would be a start.

Lastly - gas of £84! Are you in arrears?

No car/bike maintenance? Your SOA is def incomplete.

BellaBeau

I think that I have had some problems filling this in.
I cut DS and DH hair for them and DD and I get our hair cut as and when I can afford it. Birthdays come more often but I dont have a monthly figure of what to spend, again I will spend what I can afford at the time, so if this is only a couple of pounds then that is all I spend.
DH will try and fix both the bike and the car rather than take to the garage, if it needs fixing at the garage then we have to find the money. Should I have an emergency fund for this? I am not sure how to include this in a monthly expenditure.

As for the gas, it is disgusting. The gas company insist this is the right amount (we are not in arrears) my account goes into credit frequently and I end up asking for it back. I will have to see what the winter use is.
Have amended credit card area on the soa.

brummiebabe

BellaBeau wrote: »

I think I have included everything, please let me know if I have missed something.

Two adults and two children in house.
We own one car and one motorbike.

Monthly Income Details
Monthly income after tax................ 2600
Partners monthly income after tax....... 528
Benefits................................ 150 (family allowance)


Total monthly income.................... 3278


Monthly Expense Details
Mortgage................................ 507.00
Secured/HP loan repayments.............. 405.50 3 years left to pay


Council tax............................. 88.00
Electricity............................. 57.00
Gas..................................... 84.00
Water rates............................. 30.55
Telephone (land line)................... 22.5
Mobile phone............................ 49.42
TV Licence.............................. 12.12
Satellite/Cable TV...................... 30.89
Internet Services....................... 4.89
Groceries etc. ......................... 200
Clothing................................ 0 (dont buy clothes if I can avoid it)but you've got 2 children so you will need to get them clothes/shoes at some point...so might be helpful to budget for it now.
Petrol/diesel........................... 200
Car Insurance........................... 37.48
Pet insurance/vet bills................. 8.79
Buildings/contents insurance..................... 28.9
Childrens activitie -is there an amount missing here?

Birthdays? Christmas? Holidays? Car service/MOT/maintenance etc...these all need to be included to get a true picture of where your money is going.


Total monthly expenses.................. 1767.04[/b]









Secured & HP Debts
Description....................Debt......Monthly...
Mortgage 60.000 (507)
Secured Debt.................. ........(405.5).




Unsecured Debts
Description....................Debt......Monthly...APR
Cap 1................ .1.500.........50........? - think you've got a decimal point in the wrong place? Should it be £500.00
Mint ................250.00........5.........?
EGG................ 6.814.22.......208.7.....26.9% Again - think you need to move decimal point so that figures read properly.
Overdraft ............5000... this doesnt really get paid off, only when wages get paid in but then used again by the end of the month.

Loan from family.................3.4.......150.......0and again
Store cards.................0.........38........
Total unsecured debts..........8.4.......451.7.....



Monthly Budget Summary
Total monthly income.................... 3,278
Expenses (including HP & secured debts). 1,782.04
Available for debt repayments........... 1,405.96
Monthly UNsecured debt repayments....... 451.7
Amount left after debt repayments....... 1,044.26 ?????????

I just cant see where the amount after repayments is going to, I think I have included everything here. We did pay for our lunches when we are at work but now take lunch with us everyday. I rarely buy clothes for hubby and me. DS gets hand me downs and DD I have to buy for but only when her clothes no longer fit. Our life insurance and pensions are tied up with hubbys work so I havent included them here. I have absolutley no chance of changing credit card companies to get 0% apr due to bad credit so cant do this.

It might be helpful to complete it again, don't delete what's irrelevant...just put 0. Hth;)