my soa please comment but please be sensitive as suffering from depression.

maxandmatty

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1460
Benefits................................ 321
Other income............................ 0
Total monthly income.................... 1781
Monthly Expense Details
Mortgage................................ 380
Secured/HP loan repayments.............. 0
Rent.................................... 124
Management charge (leasehold property).. 0
Council tax............................. 108
Electricity............................. 35
Gas..................................... 55
Oil..................................... 0
Water rates............................. 40.64
Telephone (land line)................... 20
Mobile phone............................ 80
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 5
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 150
Road tax................................ 20
Car Insurance........................... 51.53
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 22
Pet insurance/vet bills................. 7.19
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
child trust funds....................... 33
maintenance to husbands ex wife......... 100
watercare............................... 2
homecare................................ 14.06
Total monthly expenses.................. 1464.54

Assets
Cash.................................... 0
House value (Gross)..................... 55000
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 55500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 53500....(380)......0
Total secured & HP debts...... 53500.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
link financial.................20753.....128.4.....0
lloyds overdraft...............4894.18...32.97.....0
lloyds loan....................5204.7....32.97.....0
halifax overdraft..............500.......30........0
lloyds credit card.............8287.86...52.75.....0

Tixy

Hi and welcome

Well done for posting your SoA. Do remember if any comments feel harsh they are meant well and its just because people want to help. Are you being treated for depression? treatment can help people such a lot and some people feel too embarrassed to seek help and its such a hard thing to tackle alone.

You seem to have missed a little off the end of the SoA? Are all your debts listed or have any got chopped off?

Assuming they are all on.
Income 1781
Expenses 1464.54
Left £316.46
minimum payments £277.09

Are you on a DMP? are all the interest rates frozen?

Right on to the expenses -
You have rent and a mortgage - is it a shared ownership home?
Mobile - have you tried to reduce tariffs? or look for a cheaper provider?
Car insurance - have you shopped around at renewal for the best price? do you know about cash back sites and if so did you look to see if you could get cash back? if not then make sure you check next time round.

I'm a bit worried you haven't got B&C insurance listed, do you have this? if not I know it feels like you can't afford it but you can get some basic cover really cheap if you shop around (there is an article on MSE about how to find the cheapest cover).

Is the maintenance a set rate? is is CSA rates on a personal agreement?

What is the homecare cost for? is this for boiler cover etc? you may be able to get cheaper.

Are you getting all the benefits that you should, presumably you should be getting child benefit for 2 children, something for yourself (JSA? ESA?). Are you getting tax credits? you could have a look at entitledto website to check if you may be able to get anything extra.

Just a few thoughts.
Good luck.

savingmummy

maxandmatty wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0 are you planning on going to work?
Partners monthly income after tax....... 1460
Benefits................................ 321
Other income............................ 0
Total monthly income.................... 1781
Monthly Expense Details
Mortgage................................ 380
Secured/HP loan repayments.............. 0
Rent.................................... 124 ? and mortgage
Management charge (leasehold property).. 0
Council tax............................. 108
Electricity............................. 35
Gas..................................... 55 have you looked for cheaper
Oil..................................... 0
Water rates............................. 40.64 this is high
Telephone (land line)................... 20
Mobile phone............................ 80:eek: too high go payg or cut down
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 5
Groceries etc. ......................... 200 try to reduce, drop a brand, stick to a list
Clothing................................ 0
Petrol/diesel........................... 150 can this be reduced?
Road tax................................ 20
Car Insurance........................... 51.53
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 22
Pet insurance/vet bills................. 7.19
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
child trust funds....................... 33
maintenance to husbands ex wife......... 100
watercare............................... 2
homecare................................ 14.06
Total monthly expenses.................. 1464.54

Assets
Cash.................................... 0
House value (Gross)..................... 55000
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 55500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 53500....(380)......0
Total secured & HP debts...... 53500.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
link financial.................20753.....128.4.....0
lloyds overdraft...............4894.18...32.97.....0
lloyds loan....................5204.7....32.97.....0
halifax overdraft..............500.......30........0
lloyds credit card.............8287.86...52.75.....0

Bits missing....

You need to make cutback if you can each month.
You need to know the APR`s so you know what needs going as priority!

On the SOA you have mortgage and rent?

Keeping_Positive

Hello

I know it sounds a bit harsh but I would cancel the £33 child fund payments untill you are back on your feet. The interest gained would be lower than if you pay off debt. Then in couple of years time you can restart.

If any adult pays more than 10 a month on perscriptions then look at pre pay. £10 a month over 10 months for a years cover and can be paid by dd so no having to find it all in one go.

Good luck take a day at a time

misscousinitt

Didn't want to read and run, just wanted to say well done for posting and please listen to these lovely people...they can really help you to cut your expenses.

The things that stand out to me are:

Water, Gas and Mobile.

As Tixy said, check to see if you are entitled to any more benefits.

Good luck and keep posting.

zarazara

Great thread, thanks for posing.
re rent and mortgage, id the house part owned ,part rented? if not then what is the rent for please? the water rates seem high,also the mobile phone.
I think you are doing pretty well, actually, theres more coming in than going out! thats a great place to be. What are you doing with your monthly savings? Building a nest egg/rainy day money? or paying off mortgage or a bit of both

zarazara

Personally I'd look to paying off the overdrafts,the halifax first,to give yourself a boost. then the loans,and cut up those cards!