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MY SOA- Advice Please!
in_debt24
Posts: 37 Forumite
Ive been posting for a little while now but just realised i've never posted an SOA..........so here it is.
Have put a few notes next to things to help explain.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned...................... 0
Monthly Income Details
Monthly income after tax....................... 1248
Partners monthly income after tax........... 600
Benefits............................................. 0
Other income...................................... 0
Total monthly income.......................... 1848
Monthly Expense Details
Mortgage........................................... 0
Secured/HP loan repayments.................. 0
Rent................................................. 660
Management charge (leasehold property) 0
Council tax............................. 110
Electricity............................. 16 (fixed amount pre paid electric card)
Gas..................................... 10 (We have gas canisters)
Coal/Wood................................ 30 (We live on a boat, this is our main heating)
Water rates............................. 0 (included in rent)
Telephone (land line)................... 12
Mobile phone............................ 30 (£20 contract for me/£10 PAYG for OH)
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 (We have to have unlimited package due to nature of work)
Groceries etc. ......................... 200
Clothing................................... 50
Petrol/diesel............................. 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 338 (2 x zone 1-5 travelcards as we both work in zone 1 and live in zone 5)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1475
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total Debt.....................13000.....239.......0 (This is my DMP)
Total unsecured debts..........13000.....239.......-
Monthly Budget Summary
Total monthly income.................... 1,798 Expenses (including HP & secured debts). 1,305
Available for debt repayments........... 503
Monthly UNsecured debt repayments....... 239
Amount left after debt repayments....... 134 We NEVER have this much left!!
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,000
Net Assets.............................. -13,000
Any advice is much appreciated!
Have put a few notes next to things to help explain.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned...................... 0
Monthly Income Details
Monthly income after tax....................... 1248
Partners monthly income after tax........... 600
Benefits............................................. 0
Other income...................................... 0
Total monthly income.......................... 1848
Monthly Expense Details
Mortgage........................................... 0
Secured/HP loan repayments.................. 0
Rent................................................. 660
Management charge (leasehold property) 0
Council tax............................. 110
Electricity............................. 16 (fixed amount pre paid electric card)
Gas..................................... 10 (We have gas canisters)
Coal/Wood................................ 30 (We live on a boat, this is our main heating)
Water rates............................. 0 (included in rent)
Telephone (land line)................... 12
Mobile phone............................ 30 (£20 contract for me/£10 PAYG for OH)
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 (We have to have unlimited package due to nature of work)
Groceries etc. ......................... 200
Clothing................................... 50
Petrol/diesel............................. 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 338 (2 x zone 1-5 travelcards as we both work in zone 1 and live in zone 5)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1475
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total Debt.....................13000.....239.......0 (This is my DMP)
Total unsecured debts..........13000.....239.......-
Monthly Budget Summary
Total monthly income.................... 1,798 Expenses (including HP & secured debts). 1,305
Available for debt repayments........... 503
Monthly UNsecured debt repayments....... 239
Amount left after debt repayments....... 134 We NEVER have this much left!!
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,000
Net Assets.............................. -13,000
Any advice is much appreciated!
February Grocery Challenge- £140/£200 Spent.
Weekly Spend Challenge- £0/£5 Spent.
Crazy Clothes Challenge- £0/£100 Spent
Total Debt: £13000. Paid off: £500.
Weekly Spend Challenge- £0/£5 Spent.
Crazy Clothes Challenge- £0/£100 Spent
Total Debt: £13000. Paid off: £500.
0
Comments
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Ive been posting for a little while now but just realised i've never posted an SOA..........so here it is.
Have put a few notes next to things to help explain.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned...................... 0
Monthly Income Details
Monthly income after tax....................... 1248
Partners monthly income after tax........... 600 Any scope to increase this? Are you entitled to any benefits?
Benefits............................................. 0
Other income...................................... 0
Total monthly income.......................... 1848
Monthly Expense Details
Mortgage........................................... 0
Secured/HP loan repayments.................. 0
Rent................................................. 660
Management charge (leasehold property) 0
Council tax............................. 110
Electricity............................. 16 (fixed amount pre paid electric card)
Gas..................................... 10 (We have gas canisters)
Coal/Wood................................ 30 (We live on a boat, this is our main heating)
Water rates............................. 0 (included in rent)
Telephone (land line)................... 12
Mobile phone............................ 30 (£20 contract for me/£10 PAYG for OH)
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 (We have to have unlimited package due to nature of work) If you have a landline you should be able to get this far far cheaper, we pay £7.50 a month for o2 which is unlimited downloads
Groceries etc. ......................... 200 can you work on reducing this? Maybe drop a brand or two
Clothing................................... 50 This is a lot when you are in debt - can you wear what you have and only buy essentials, for anything else use ebay?
Petrol/diesel............................. 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 338 (2 x zone 1-5 travelcards as we both work in zone 1 and live in zone 5)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1475
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total Debt.....................13000.....239.......0 (This is my DMP)
Total unsecured debts..........13000.....239.......-
Monthly Budget Summary
Total monthly income.................... 1,798 Expenses (including HP & secured debts). 1,305
Available for debt repayments........... 503
Monthly UNsecured debt repayments....... 239
Amount left after debt repayments....... 134 We NEVER have this much left!! You need to start a spending diary to see where the excess is going. You haven't got anything in your SOA for gifts, entertainment etc, maybe this is where the excess is going?
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,000
Net Assets.............................. -13,000
Any advice is much appreciated!
Hope my comments help a little!x0 -
Clothing- Its high right now because we are both starting 'proper' jobs so we need shirts, trousers, shoes as we dont have these. This will reduce once we have these things.
Partner is up for promotion to duty manager (he's a barman) at work so this should increase in 2-3months time.
Internet- we are tied into a contract with BT so cant change right now i dont think, but i will definately consider 02 if/when i can.
Groceries -we are working on it but my partner is a little bit 'brand fussy'!!!February Grocery Challenge- £140/£200 Spent.
Weekly Spend Challenge- £0/£5 Spent.
Crazy Clothes Challenge- £0/£100 Spent
Total Debt: £13000. Paid off: £500.0 -
Clothing- Its high right now because we are both starting 'proper' jobs so we need shirts, trousers, shoes as we dont have these. This will reduce once we have these things.
Shoes OK, but for clothes hunt round www.freegle.co.uk - like e-bay but you only have to collect it.
Also ferret round charity shops, car boots and the like.If you've have not made a mistake, you've made nothing0 -
Ive been posting for a little while now but just realised i've never posted an SOA..........so here it is.
Have put a few notes next to things to help explain.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned...................... 0
Monthly Income Details
Monthly income after tax....................... 1248
Partners monthly income after tax........... 600
Benefits............................................. 0
Other income...................................... 0
Total monthly income.......................... 1848
Monthly Expense Details
Mortgage........................................... 0
Secured/HP loan repayments.................. 0
Rent................................................. 660
Management charge (leasehold property) 0
Council tax............................. 110 is this spread over 10 or 12 months?
Electricity............................. 16 (fixed amount pre paid electric card)
Gas..................................... 10 (We have gas canisters)
Coal/Wood................................ 30 (We live on a boat, this is our main heating)
Water rates............................. 0 (included in rent)
Telephone (land line)................... 12
Mobile phone............................ 30 (£20 contract for me/£10 PAYG for OH)
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 (We have to have unlimited package due to nature of work)
Groceries etc. ......................... 200 defo reduce i pay £150 for 4!! mine dont notice drops in brand i hid them in branded jars/pots lol!
Clothing................................... 50 try cheaper shops tesco do work shirts etc, and smart work clothing. no need to buy expensive tbh! Once you have what you need STOP this mthly shop!
Petrol/diesel............................. 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 338:eek: (2 x zone 1-5 travelcards as we both work in zone 1 and live in zone 5)
I`m not hot on travel but is there any way of getting a cheaper alternitive ie, oyster card/seasonal ticket anything like that!
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1475
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total Debt.....................13000.....239.......0 (This is my DMP)
Total unsecured debts..........13000.....239.......-
Monthly Budget Summary
Total monthly income.................... 1,798 Expenses (including HP & secured debts). 1,305
Available for debt repayments........... 503
Monthly UNsecured debt repayments....... 239
Amount left after debt repayments....... 134 We NEVER have this much left!!
start a spending diary...really helps to see what your buying inbetween outgoings ie, takeaways, wine, magazines, things you dont need but like
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,000
Net Assets.............................. -13,000
Any advice is much appreciated!
I have left the comments in red of what i think need to change.
Regarding your groceries - stick to a strict list of what you NEED. Make sure you buy enough for the week so you dont need to just pop out for milk etc (this leads to buying other things on top).
BOGOF offers and voucher money off`s.
Now dropping brands is not as bad as people think!! You need to just try them out and see if no good try another! I have found NO difference other then non heinz beans are yuck! Tesco salad cream and tom sauce is exactly the same as heinz.
Pounland do branded sauces, crisps, chocolate/sweets etc
Iceland do 3l branded drinks for £1-£2
Meal plan for the week.
Just to add i buy alot of non branded and put them in branded jars, bottles and boxes NOONE has noticed yet hehehe!! x
Goodluck xDebtFree FEB 2010!Slight blip in 2013 - Debtfree Aug 2014 :j
Savings £132/£1000.0 -
Council tax- 10 months
Clothes- I'm anticipating 1 more month then we will have plenty. We buy as cheap as possible but we literally had to buy a working wardrobe each!
That travel is for 2 monthly oyster travelcards. there is no way of reducing this. Its ALOT chepaer than pay as you go (London travel is so expensive, particularly if you need zone 1)
Groceries- Im all for cheap brands, the OH is a bit more stubborn so might have to get sneaky :-)
Thanks for all the advice!!!February Grocery Challenge- £140/£200 Spent.
Weekly Spend Challenge- £0/£5 Spent.
Crazy Clothes Challenge- £0/£100 Spent
Total Debt: £13000. Paid off: £500.0 -
you can get your council tax changed so you pay 12 monthly - helps a bit each month!
London travel is expensive so i know about that as my father was also paying a bomb
Defo be sneaky, my DH don`t realise i`ve changed the robinson juice for £1 one from iceland, the coco pops/frosties for tesco coco pops/frosties etc etc
It really does help cut costs now.DebtFree FEB 2010!Slight blip in 2013 - Debtfree Aug 2014 :j
Savings £132/£1000.0 -
I use plastic storeage containers - no packaging that way, so you could say it looks after the food better and not have to worry about them seeing the brand on a pack?Debt at highest: £8k. Debt Free 31/12/2009. Original MFD May 2036, MF Dec 2018.0
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Thanks katsu, will do that!
My first 'swap'- nescafe coffee for cheaper coffee! Have got the jar and my OH works in the evening so he wont see ;-)February Grocery Challenge- £140/£200 Spent.
Weekly Spend Challenge- £0/£5 Spent.
Crazy Clothes Challenge- £0/£100 Spent
Total Debt: £13000. Paid off: £500.0
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