Statement of Affairs - Can't Improve it

lisawood78

I drive an import Skyline (Jap supercar) and am also insured with Adrian Flux.
Very good insurance on imports.

Butterfliesarepretty

I am going to stop my mortgage overpayments and also I have a flex account with nationwide, where should I keep my wage paid into? The alliance and leicester? Then move all my direct debits standing orders to flex account?
I get paid 15th of each month but when will have to reset all my direct debits for later dates in the month cause the money will need time to move across to the new account.
I will phone adrian flux up as I have over 8 years no claims and really feel I should only be paying £250 for my car insurance at my age, its a 16 year old car too!

I don't have pet insurance even though I have two cats and they are indoors most of the time. I have two frozen pensions that are not to be touched. I have no other savings apart from a £6.50 one each month for my daughter.
The £115.94 is for child maintenance I pay.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000.17
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000.17
Monthly Expense Details
Mortgage................................ 297.5
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 70
Electricity............................. 23
Gas..................................... 23
Oil..................................... 0
Water rates............................. 13.6
Telephone (land line)................... 15.34
Mobile phone............................ 10
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 7.34
Groceries etc. ......................... 80
Clothing................................ 5
Petrol/diesel........................... 80
Road tax................................ 15.42
Car Insurance........................... 31.92
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 115.94
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 8.5
Contents insurance...................... 8.5
Life assurance ......................... 7.7
Other insurance......................... 0
Presents (birthday, christmas etc)...... 2
Haircuts................................ 3
Entertainment........................... 1
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 870.88

Assets
Cash.................................... 0
House value (Gross)..................... 90000
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 92500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 42000....(297.5)....2.5
Total secured & HP debts...... 42000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Tesco Credit Card..............2000......44........0
Total unsecured debts..........2000......44........-

Monthly Budget Summary
Total monthly income.................... 1,000.17
Expenses (including HP & secured debts). 870.88
Available for debt repayments........... 129.29
Monthly UNsecured debt repayments....... 44
Amount left after debt repayments....... 85.29
Personal Balance Sheet Summary
Total assets (things you own)........... 92,500
Total HP & Secured debt................. -42,000
Total Unsecured debt.................... -2,000
Net Assets.............................. 48,500

Butterfliesarepretty

MrsTine wrote: »

I used to have an import MX5 too - they're great little cars but not the cheapest to maintain unless you're mechanically minded.
That said they're not gas guzzlers - have you shopped around for cheaper car insurance? I found Adrian Flux was pretty good...
Stop overpaying your mortgage - you can't afford to right now. Can you get a second job? Maybe bar work?
And please fill in a full SOA for us

Luckily my car is my hobby and my mechanical work is done by my mx 5 friend who has worked on them for 17 years and treats my car like his own and saves me lots of money. Parts are easy to come by cause I go on mx5nutz.com and the owners club. Its 16 year old and brilliant. they are very cheap to maintain in my opinion.

MrsTinks

LOL that depends on what goes wrong... trust me
If you have someone who can do the work then yes they're cheap - the main problem with them is labour - most garages charge a fortune as a lot of things are time consuming on them Good on you though if you have free labour

I do miss mine from time to time... although the Passat CC has it's own charms :rotfl: Like not having to see my physio all the time because mine had lowered racing suspension and it was ROCK hard... cornered like a dream though *sigh* and she sounded good too...
There are a few other places for parts out there but if you have a good supplier stick with them

£20 a month on food? really? £5 a week? If so I'm impressed!

linz

Do you already have an Alliance and Leicester account or are you opening one? If you are opening one you get £100 plus £45 cashback through Topcashback's site

nalla_2

My heart goes out to you, I'm in exactly the same position as yourself unable to find an easy option out, because I don't have sufficient expendable income to cover any schemes available and have assets that would be taken into account for others.
My car is my only joy too, 14yr xedos 6 (mazda) grp 16 to which I pay £22/mth insurance so maybe some saving in it for you although mine is garaged.

Best of luck,

Allan.

bluebag

Just have a quick look on entitled to, you may be eligible for working tax credits as you are on a low income and are paying child support.

Butterfliesarepretty

MrsTine wrote: »

LOL that depends on what goes wrong... trust me
If you have someone who can do the work then yes they're cheap - the main problem with them is labour - most garages charge a fortune as a lot of things are time consuming on them Good on you though if you have free labour

I do miss mine from time to time... although the Passat CC has it's own charms :rotfl: Like not having to see my physio all the time because mine had lowered racing suspension and it was ROCK hard... cornered like a dream though *sigh* and she sounded good too...
There are a few other places for parts out there but if you have a good supplier stick with them

£20 a month on food? really? £5 a week? If so I'm impressed!

My mx5 has hard bilstein suspension too but great cornering.

£20 a week on food sorry not £5 a week.
Got to get used to these soas.

Butterfliesarepretty

nalla wrote: »

My heart goes out to you, I'm in exactly the same position as yourself unable to find an easy option out, because I don't have sufficient expendable income to cover any schemes available and have assets that would be taken into account for others.
My car is my only joy too, 14yr xedos 6 (mazda) grp 16 to which I pay £22/mth insurance so maybe some saving in it for you although mine is garaged.

Best of luck,

Allan.

Good for you having a mazda at 14 yr old. No mine is not garaged on the street with a laserline immobiliser but intend to get a decent alarm put on it.

Butterfliesarepretty

bluebag wrote: »

Just have a quick look on entitled to, you may be eligible for working tax credits as you are on a low income and are paying child support.

Have already tried that months ago. child support to my daughter though is not a debt because I pay on time every time.
Thanks though.