SOA is this reasonable ?

Sterlingsilver

Hello,

I have already posted this on another thread in this forum along with other BR Questions, however no replies as of yet. I'm going to fill out the form tonight, and was wondering if you can have a look at this, to see if it’s reasonable.

If I may be honest at age of 24 years old, I have never paid my parents a penny, not because I’m selfish, but I was brought up to not understand the meaning of money or its worth. And my father would buy me anything I needed and more.

On the advice of the CAB adviser, I should start paying board and keep etc, as this will both help me manage my affairs, and help my parents.

Can someone please have a look at this to let me know if it's reasonable? My food shopping is high, as I have special dietary requirements owing to my IBD ( Although similar not to be confused with IBS)

NB: this is based on the assumption that I get a p/t job which I attended an interview for last week. Previously I was in F/T employment, but due to health grounds, I left before they dismiss me.



Would someone be kind enough to take a quick look at my other post, much appreciated.
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Thanking you in anticipation.

Silver xxx

[/FONT][FONT=&quot]Statement of Affairs and Personal Balance Sheet

Household Information[/FONT][FONT=&quot]
Number of adults in household........... 3 However this is for my self only. The other two Adults are my parents, and my siblings.
Number of children in household......... 3
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 640
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 640

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 20
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 5
Mobile phone............................ 15
TV Licence.............................. 4.33
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 80 This jobs ends at 11 pm, so I will need a cab back home.
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 9.33
Life assurance ......................... 13.6
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 707.26


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




Monthly Budget Summary
Total monthly income.................... 640
Expenses (including HP & secured debts). 707.26
Available for debt repayments........... -67.26
Monthly UNsecured debt repayments....... 535
Amount short for making debt repayments. -602.26

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,781
Net Assets.............................. -11,781


Reproduced on Moneysavingexpert with permission, using Firefox browser.[/FONT]

TDMum

Is this what you would actually be spending? You need to show that you can sustain yourself after BR and at the moment you have a small defecit. You may need to cut back on your food if possible or some other area to try and break even at least.

Just as a pointer to go by we were looked upon as a family of 5 and were told max allowance was £435 per month for groceries, my daughter has a milk intolerance and we had put down £520 and were allowed to keep it at this. We filed under "normal" BR not LILA so not 100% sure of the process for that.

Sterlingsilver

TDMum wrote: »

Is this what you would actually be spending? You need to show that you can sustain yourself after BR and at the moment you have a small defecit. You may need to cut back on your food if possible or some other area to try and break even at least.

Just as a pointer to go by we were looked upon as a family of 5 and were told max allowance was £435 per month for groceries, my daughter has a milk intolerance and we had put down £520 and were allowed to keep it at this. We filed under "normal" BR not LILA so not 100% sure of the process for that.

This is for myself only, however I will be living with my parents and three siblings.

This is what I will be spending yes, I guess I can cut back on travel, if I get some one from my new job if I do get it. Also my three siblings are all teenagers, under 16, oldest 15 and youngest 10.

newdawn_2

Hi ya.
I think your SOA has been done wrong.

Your outgoings would be the amount of rent you pay to your parent. If this includes Electric, TV Licence etc it would not be listed elsewhere. If you had to pay for your own calls then this would be listed as well as your mobile

You may be able to include some money for groceries etc.

Sterlingsilver

newdawn wrote: »

Hi ya.
I think your SOA has been done wrong.

Your outgoings would be the amount of rent you pay to your parent. If this includes Electric, TV Licence etc it would not be listed elsewhere. If you had to pay for your own calls then this would be listed as well as your mobile

You may be able to include some money for groceries etc.

Hello -- Thank you for pointing this out,

So just to recap -- I will be living with my parents who have 3 children under the age of 16.I will be a non-dependent, a lodger if you like.

My food I cannot lower any further, as I have IBD and have special dietary needs.


Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 629.03
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 629.03

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 200 Where I live for single room it's about 300 PCM ( Out Side London )
Management charge (leasehold property).. 0
Council tax............................. 4.6 per week (18.4)
Electricity............................. 26 1/3
Gas..................................... 20 1/3
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 4 1/3
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 180
Clothing................................ 40
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50 This will be difficult I may need to up this, if I don't find a car share, as this new job that I may start depending if I get it, ends at 11 pm in a secluded area, therefore a taxi home is 5.90 (Contract) , and Bust pass per month is 41.00 True amount would be ( 94.4 + 41)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 6
Life assurance ......................... 9
Other insurance......................... 5.75 iPod (Gift) Insurance and Monitor
Presents (birthday, Christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 25
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 628.35


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
loan 1.........................4000......160.......8
loan 2.........................264.......12........29.9
loan 3.........................538.......30........39.5
loan 8.........................351.......30........18.9
laon 7.........................1400......50........0
loan 6.........................4320......20........0
loan 5.........................100.......5.........49.5
loan 5.........................600.......200.......3685 (Pay Day Loan)
loan 4.........................300.......100.......3685 (Pay Day Loan)
Total unsecured debts..........11873.....607.......-


Monthly Budget Summary
Total monthly income.................... 629.03
Expenses (including HP & secured debts). 628.35
Available for debt repayments........... 0.68
Monthly UNsecured debt repayments....... 607
Amount short for making debt repayments. -606.32

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,873
Net Assets.............................. -11,873

Created using the SOA calculator at makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Sorry I'm still a bit over, I can;t think of how to reduce this.

sizzler

people here will guide you.

If you pay a third of each put them down as you pay them and simply explain this to the OR.

Best of Luck sizzler:)

Sterlingsilver

Hello Sizzler,

Thank you for your input, this is the amount of my 1/3 if this makes sense. However this is on the suggestion of the CAB adviser, TBH I have never paid this before, as all my out goings were going to my debt.

sizzler

To me it is logical and easy to explain:)

immoral_angeluk

Why are you paying for insurance for someone elses ipod? Also for your monitor?

Sterlingsilver

Hello

Oh sorry, I meant it was gifted to me as a B'day gift, and the monitor was gifted to me by my father. So I never bought them, but continued with the insurance, that they took out for my self. They paid for the first month, and then gave me the option to transfer it to my name.

I need the insurance, as I use both for my studies, I develop ipod applications thus I need the ipod, and Monitor which is an LCD, they are very expensive to fix if broken, it was fixed 3 times just last year.

immoral_angeluk

Ah I see. Fairy nuff then