can anyone help me pls

aka666

ok, this is very hard for me and the wife, but at last i think are admitting we have a proplem, we just dont no where to go from here..
Household Information[/b]
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1000
Benefits................................ 40
Other income............................ 80
Total monthly income.................... 2320
Monthly Expense Details
Mortgage................................ 870
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 60
Gas..................................... 20
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 11
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 380
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 0
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 4
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 70
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1686

Assets
Cash.................................... 6000
House value (Gross)..................... 130000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 137000

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 95000....(870)......0
Total secured & HP debts...... 95000.....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
natwest........................30000.....370...... .0
card...........................1000......70....... .0
card...........................1000......55....... .0
Total unsecured debts..........32000.....495.......-

Monthly Budget Summary
Total monthly income.................... 2,320
Expenses (including HP & secured debts). 1,686
Available for debt repayments........... 634
Monthly UNsecured debt repayments....... 495
Amount left after debt repayments....... 139
Personal Balance Sheet Summary
Total assets (things you own)........... 137,000
Total HP & Secured debt................. -95,000
Total Unsecured debt.................... -32,000
Net Assets.............................. 10,000
allso i pay 30 pound for the gym, i have a couple of proplems with health , that is why life insurrance is high, i used to weight 16 stone have high blood pressure and high cholesterol, now 13 9 but not had any tests on the blood or cholesterol.
also tryed to help our kids they owe us 1000 but i really dont think we are going to get our money off them, today we told them no more help, beleive me that was hard for us to do.

Apricot

aka666 wrote: »

ok, this is very hard for me and the wife, but at last i think are admitting we have a proplem, we just dont no where to go from here..
Household Information[/b]
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1000
Benefits................................ 40
Other income............................ 80
Total monthly income.................... 2320
Monthly Expense Details
Mortgage................................ 870
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 60
Gas..................................... 20
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 11
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 380 This is a lot - look at the Old Style board you should be able to knock £100 off this easily
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 0 Is this Right?
Car Insurance........................... 20
Car maintenance (including MOT)......... 0Is this right?
Car parking............................. 4
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0You really need this
Life assurance ......................... 70
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0No presents ever?
Haircuts................................ 0Do you never have a haircut?
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1686

Assets
Cash.................................... 6000
House value (Gross)..................... 130000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 137000

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 95000....(870)......0
Total secured & HP debts...... 95000.....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
natwest........................30000.....370...... .0
card...........................1000......70....... .0
card...........................1000......55....... .0
Total unsecured debts..........32000.....495.......-

Monthly Budget Summary
Total monthly income.................... 2,320
Expenses (including HP & secured debts). 1,686
Available for debt repayments........... 634
Monthly UNsecured debt repayments....... 495
Amount left after debt repayments....... 139
Personal Balance Sheet Summary
Total assets (things you own)........... 137,000
Total HP & Secured debt................. -95,000
Total Unsecured debt.................... -32,000
Net Assets.............................. 10,000
allso i pay 30 pound for the gym, i have a couple of proplems with health , that is why life insurrance is high, i used to weight 16 stone have high blood pressure and high cholesterol, now 13 9 but not had any tests on the blood or cholesterol.
also tryed to help our kids they owe us 1000 but i really dont think we are going to get our money off them, today we told them no more help, beleive me that was hard for us to do.

I've added a few comments for you here - do you find that you actually have a surplus at the end of the month? If not I think perhaps you need to do a spending diary to see where the surplus is going.
Look at the "Up your income" board for simple things you can do to make a few extra pounds to go towards paying your debts.
Also, does the third adult contribute to the household? If not you need to start charging them something every month.

aka666

hi and thanks.
road tax we pay yearly on credit card
same has Contents insurance,
wife cuts hair and i do all the Car maintenance, allso we take 80 pound a month from son, he has a low paid job, i will take a look at Up your income

Tixy

Hi and well done for posting - its not easy to do

A couple of things I've noticed

Is the 3rd adult a grown up child? are they contributing anything in rent?
What is the £80 other income?

Your elec looks a little high - is this based on acutal readings? have you tried reducing your usage (especially of items such as tumble driers, elec heater, immersion heaters)?
Groceries - some scope to reduce this, try meal planning for the week before you go shopping, try the drop a brand challenge and look on the old style boards for tips on reducing the costs (whilst still eating healthily!). You should be able to easily do for £80pppm but plently on here manage a family of 5 for £200-£250.
How recently have you shopped around for Life Ins? You may get cheaper, especially if you have lost weight. Also check the amount of cover you have and make sure you don't have more than you need.

You are showing a small surplus of £139 but you have ommitted quite a few things from your budget. You need to include 1/12 of the annual cost for items such as road tax, car maint (incl MOT, servicing, tyre cost etc), presents, haircuts etc. Also do you not have B&C insurance? And you need to put the gym cost in (either add a line or put in entertainment) - is this the cheapest gym around? have you tried the local authority one to see if cheaper?

Try to find out the APRs on your debts, so you know which order to try and tackle them. If you haven't already then stop spending on the cards. Is the £30 natwest a loan/ cc or overdraft?
If you also have an overdraft remember to include as a debt.

Why have you £6k in cash and then that level of debts? You will be paying far more in interest on your debts than your are earning on the savings. Maybe keep a small emergency fund but I would recommend paying most of this off your debts.

Hope this helps a bit. Overall are you managing each month to make your repayments or are you getting gradually into more debt each month? That should tell you if you really have a surplus or defecit.

Hope these comments help a bit.

aka666

thank all for the help, its really appreciated,
80 pound off son,
we have payment meters,
local authority gym is 30 pound
370 was for loan to do the house up, a very big mistake on our part. we have 5 years left on it..
you think it is better to pay of credit cards.

Numpty_Monkey

Hi aka :hello:
A few things I noticed ,
are you getting all the benefits you are entitled to , seems low to me
have a look on
http://www.entitledto.co.uk/Default.aspx?AspxAutoDetectCookieSupport=1

My guess is the other income is from a young un who has just left school/started work;):cool:

Electric is High, use low energy bulbs where practicable , turn things off - not standby
Look into swapping providers, use Martins guide(and don't forget the cashback)

Groceries can be reduced, meal planning, drop a brand, The peeps on Old Style MoneySaving
will knock that down:A

There are alot of things missing that you should budget for ,
look at http://www.moneysavingexpert.com/banking/Budget-planning

The savings you have could be better used to pay off the Cards unless they are on 0%
but I'd still clear them

And well done on the wieght loss:T

HTH:A

aka666

thankyou all, yes feeling a lot better with the wieght loss, still got a long way, but really dont want to give gym up, only got 1 chin now .