Help SOA

huskypup

Management fee is compulsary and does not cover drainage from our house to the road, it pays for the green area's and the play parks and the roads that have not been adopted by the local councils (lights, road maintenance).

Our building insurance also includes contents.

Will phone Sky at lunchtime. Though the package we have with them is includes all our phone calls including ones to America which is where my family are.

WASHER

Have a read of Martin Lewis' advice on phone charges etc, go to the tab at the top - ulitities/phones, it may help you find a cheaper provider considering you phone the USA.

huskypup

Have just edited Barclaycard - mind all over the place today

WASHER

May I ask, do you have an overdraft as well, if so, do you use it and how much are you overdrawn, this will give us a better idea of the situation if you include everything.

Can you change your mortgage to interest only for a while (this will not be a long term solution, you need to pay the capital off at some point, but it may help you here and now)

savingmummy

can you not do haircuts yourself? or find someone who comes to you and is reasonable?
I cut my DH and 2 childrens for free!
I get mine done when i can and if i`m lucky once a year on my birthday lol!

Childrens clothing can be nice and cheap! I Don`t and wouldnt buy every month. How old are the 2 children?

You can get phone and internet cheap now by shopping around. I would get rid of sky and pay for content insurance tbh!

WASHER

According to your SOA, you have almost 50K of equity in your home, could you sell it and downsize, that way you could repay a huge amount of the debt. (DO NOT REMORTGAGE YOUR HOME IN ORDER TO REPAY THE DEBT, CONSOLIDATION RARELY WORKS AND COULD END UP COSTING YOU MORE IN INTEREST).

Just a thought.

huskypup

Only have £11k of equity in the house as have a secured loan for £40k on top of the mortgate.

Have just checked out SKy packages - looks like we are paying at least £25 over the top, will def be phoning them at lunchtime.

Tried cutting the HB's hair once - bald patches - will look at stopping the childrens.

We do pay contents insurance its included in our buildings insurance.

The £10 a month on mobile is not every month - both phones are on PAY go and are for when we are in the car.

Will cut back on childrens clothes - Step daughter 16 now has a part time job - so she can buy her own now. Step son is 14.

We have no overdraft.

huskypup

Have recopied SOA with new figures on

Household Information
Number of adults in household........... 2
Number of children in household......... 2(everyother weekend and all holidays)
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1245
Partners monthly income after tax....... 2105
Benefits................................ 0
Other income............................ 360 (part time job)
Total monthly income.................... 3710

Monthly Expense Details
Mortgage................................ 500
Secured/HP loan repayments.............. 418
Rent.................................... 0
Management charge (leasehold property).. 21
Council tax............................. 95
Electricity............................. 47
Gas..................................... 65
Oil..................................... 0
Water rates............................. 27
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 63 (sky/internet and phone) (will cut to £40)
Internet Services....................... 0
Groceries etc. ......................... 200 (will cut to £150)
Clothing................................ 50
Petrol/diesel........................... 200 (need both no public transport to wk)
Road tax................................ 25
Car Insurance........................... 70
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings & contents insurance..................... 20
Life assurance ......................... 20
Other insurance......................... 48 (heating & drainage insurance) (will take off electricals will reduce to 30.
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 20
mess bill............................... 15
csa..................................... 275
Total monthly expenses.................. 2236

Assets[/b]
Cash.................................... 0
House value (Gross)..................... 180000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 182000

Secured & HP Debts[/b]
Description....................Debt......Monthly..
Mortgage...................... 129000...(500)......
Secured Debt.................. 40000....(418)......
Total secured & HP debts. 169000....

Unsecured Debts
Description....................Debt......Monthly.. .
tesco loan me..................10000.....198......
tesco load hb..................17500.....340.......
tesco cc me....................9500......280.......
barclaycard me.................14500....314.....
egg hb.........................9500......228......
egg me.........................5000......133......
tesco cc hb....................3000......75.......
Total unsecured debts..........69000....1568

Monthly Budget Summary[/b]
Total monthly income.................... 3,710
Expenses (including HP & secured debts). 2,125
Available for debt repayments........... 1,585
Monthly UNsecured debt repayments....... 1,568
Money left over £17

Personal Balance Sheet Summary
Total assets (things you own)........... 182,000
Total HP & Secured debt................. -169,000
Total Unsecured debt.................... -69,000
Net Assets.............................. -56000

andys15

Sell house and move into married quarters. Do you not pay CSA. Are you allowed to moonlight in the military.

WASHER

andys15 wrote: »

Sell house and move into married quarters. Do you not pay CSA. Are you allowed to moonlight in the military.

I got the impression it was her second job, not the husband (who is in the military).

OP, Why can you not move back into married quarters and sell up?

Maintenance for the children is already included in the SOA.