My SOA - advice and tips welcomed

Eoin_McLove

david_hellier wrote:

Generally you seem ok, if you want more cash, eat less, get rid of the car and do not use CCs. Go digital on terrestrial. Good luck.

The car belongs to my girlfriend. I just pay my share of the petrol and car insurance/tax. Good deal, eh?

I will have to use my Egg Card because I'm balance-transferring my £1,000 overdraft next month before I start getting charged interest.

I'm not sure where you get your figures from either, but annually I will have an income of £12,477, and a total expenditure of £10,821, which leaves me £31.85 per week.

david_hellier

The figures are in my reply.

david_hellier

Correction; I had you down using £80 of inhalers every month!
Using your monthly figures my new weekly figure is £26.37 per week:

income weekly monthly
self 1016.00
partner







total 0.00 1016.00
234.46 divided by 4.33

234.46 total weekly income

spend weekly monthly
rent/mortgage 350.00
council tax 76.17
elec 10.42
gas 10.42
water 7.29
secured loans
TV licence 5.48
fines
dvt loans 87.23
food 173.33
b days/xmas 34.58
petrol 33.33
egg 26.52
mobi 20.00
cable 17.25
car costs 14.17
hair 9.17
books 8.33
house ins 7.67
inhaler 6.65
student l 3.75









total 0.00 901.75
208.10 divided by 4.33

208.10 total weekly spend

Start= income - spend = 26.37 per week

CLAPTON

not sure this matters but 26.37 +(283/52=5.44..return of rent) =31.81
per week
close !

Eoin_McLove

CLAPTON wrote:

not sure this matters but 26.37 +(283/52=5.44..return of rent) =31.81
per week
close !

So the return of the £285 security deposit isn't so insignificant, after all...

lynzpower

WIll you not have to put down another deposit when you move? Or are you getting any relocation packages for that ? If there is one, do try adn get your mitts on it

Eoin_McLove

lynzpower wrote:

WIll you not have to put down another deposit when you move? Or are you getting any relocation packages for that ? If there is one, do try adn get your mitts on it

Fortunately my parents and my girlfriend's mum are going to lend us the money for the deposit, which they should get back in full when we come to move out and get ourselves one of those mortgage things.

raino144

If you're studying to be a CA your firm will probably pay for your books as part of your overall training package (through FTC or BPP these are included - or were with mine!)

Not a lot but frees up a little of your budget!

Eoin_McLove

raino144 wrote:

If you're studying to be a CA your firm will probably pay for your books as part of your overall training package (through FTC or BPP these are included - or were with mine!)

Not a lot but frees up a little of your budget!

I'm doing an ACA so, yeah, my books and study materials will be paid for by my firm. But I'm a geek, so I've allocated £100 to my budget in case I decide that I want to get any other non-BPP books, like 'How to pass your Early Hurdle Exams in seven days.' I have no finance/business educational background, so I'm expecting to have to buy my own books to give me an overview of the whole 'genre'.

raino144

Eoin_McLove wrote:

I'm doing an ACA so, yeah, my books and study materials will be paid for by my firm. But I'm a geek, so I've allocated £100 to my budget in case I decide that I want to get any other non-BPP books, like 'How to pass your Early Hurdle Exams in seven days.' I have no finance/business educational background, so I'm expecting to have to buy my own books to give me an overview of the whole 'genre'.

I found there to be no need - the quality of teaching and support from my tutors in FTC in Manchester (hope I get some cash for that plug! lol) was far above any I had at University. I found that doing general business reading (FT.com, The Times online, BBC Business) gave me the general business background to go with the technical knowledge taught at college.

Remember that the tutors' reputation (and repeat business from your firm) depends much more on your success and therefore they are much more attentive to your needs - everything they do is geared to you passing the exams.


On another note - being a CA trainee brings in some 'benefits' like - reclaiming mileage expenses at 40p per mile tax-free (petrol only costs about 12p) and frequent overtime opportunities (but you get taxed!)

I paid for all my socialising and hols from the extra on expenses (legitimately!) but it is very sporadic - depends on your firm & clients.