My SOA Revised.

dojoman

I have gone with Liverpool Victoria @ £13.25 per month.

karend1980

dojoman wrote: »

I have gone with Liverpool Victoria @ £13.25 per month.

Yes they look good.. Do you think I should wait until I have my coop account set up before i do this as i will have to use my halifax account to set this up

karend1980

Trying again

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 4
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 1239
Total monthly income.................... 1239
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 45
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 60
Mobile phone............................ 10
TV Licence.............................. 13
Satellite/Cable TV...................... 21
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 75
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
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 insurance..................... 0
Contents insurance...................... 19
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 75
Emergency fund.......................... 0
Total monthly expenses.................. 959

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
LTSB Loan 1....................10000.....300.......0
LTSB loan2.....................8500......285.......0
LTSB Card......................900.......35........0
Barcleycard....................900.......30........0
Freemans.......................200.......33........0
Empirestores...................200.......30........0
Marshall Ward..................285.......33........0
LTSB Overdraft.................2300......35........0
Total unsecured debts..........23285.....781.......-

Monthly Budget Summary
Total monthly income.................... 1,239
Expenses (including HP & secured debts). 959
Available for debt repayments........... 280
Monthly UNsecured debt repayments....... 781
Amount short for making debt repayments. -501
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -23,285
Net Assets.............................. -23,285
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

welshpony78

I would put something in "other child related expensses" - You are generally allowed one activity per child (£5 each per week) on SOA - say swimming at £20 each per month, I would therefore put £60 down for your 3 older ones.

Also do you wear contact lenses or glasses - £20 per month for this (even if you don't wear them) - I am concerned that you will have over the £99 surplus allowed. I think you could also up your clothing allowance - with 4 growing children and yourself you would need more than £75 - even at £25 per month each that would be £125. Even if you don't spend this, this would allow you to save your surplus for xmas & birthdays etc as you won't have credit and they wouldn't be accepted as a part of your SOA.

Do you not have any transport costs at all? I would allow something here, especailly as there is 5 of you to consider. Maybe also put your holiday fund up to £100.

Hope someone else comes along with more advice, good luck.

karend1980

welshpony78 wrote: »

I would put something in "other child related expensses" - You are generally allowed one activity per child (£5 each per week) on SOA - say swimming at £20 each per month, I would therefore put £60 down for your 3 older ones.

Also do you wear contact lenses or glasses - £20 per month for this (even if you don't wear them) - I am concerned that you will have over the £99 surplus allowed. I think you could also up your clothing allowance - with 4 growing children and yourself you would need more than £75 - even at £25 per month each that would be £125. Even if you don't spend this, this would allow you to save your surplus for xmas & birthdays etc as you won't have credit and they wouldn't be accepted as a part of your SOA.

Do you not have any transport costs at all? I would allow something here, especailly as there is 5 of you to consider. Maybe also put your holiday fund up to £100.

Hope someone else comes along with more advice, good luck.

Thanks for your advice, my children do go to after school activitys like brownies and karate forgot about these. I wear glasses too. I didnt know what to put about transport, its an wxpensive buisness now the 3 biggest are older as i have to pay for them all, so yes i will add that too. thankls for the help.. its the little things i forget.

HappyMJ

If you get housing benefit and council tax benefit's you need to put these down as benefit income and put the actual cost of those into the SOA. It makes it easier to explain a £45 a month rent unless it really is £45.

Any pets? Mice, hamsters, rabbit whatever they all count so put something down for them.

I would put £130 for other travel. Buses, taxis and shared costs in other peoples cars. I've guessed a figure of £10 adult and £5 child per week.

You have to zero the sky figure and the presents figure. They are part of the groceries.

The dentist may be free for you and your kids but I would put something down for it. Mine is £3 per month for 1 person so I'd say £15 for you.

karend1980

HappyMJ wrote: »

If you get housing benefit and council tax benefit's you need to put these down as benefit income and put the actual cost of those into the SOA. It makes it easier to explain a £45 a month rent unless it really is £45.

Any pets? Mice, hamsters, rabbit whatever they all count so put something down for them.

I would put £130 for other travel. Buses, taxis and shared costs in other peoples cars. I've guessed a figure of £10 adult and £5 child per week.

You have to zero the sky figure and the presents figure. They are part of the groceries.

The dentist may be free for you and your kids but I would put something down for it. Mine is £3 per month for 1 person so I'd say £15 for you.

OK thanks for the advice...

karend1980

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 4 AGES 1, 6, 7, 10
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1239 CTC IS CB
Other income............................ 780 HB & CT BENEFIT
Total monthly income.................... 2019
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 705
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 125
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 130
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 19
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 100
Emergency fund.......................... 0
Total monthly expenses.................. 1956

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
LTSB Loan 1....................10000.....300.......0
LTSB loan2.....................8500......285.......0
LTSB Card......................900.......35........0
Barcleycard....................900.......30........0
Freemans.......................200.......33........0
Empirestores...................200.......30........0
Marshall Ward..................285.......33........0
LTSB Overdraft.................2300......35........0
Total unsecured debts..........23285.....781.......-

Monthly Budget Summary
Total monthly income.................... 2,019
Expenses (including HP & secured debts). 1,956
Available for debt repayments........... 63
Monthly UNsecured debt repayments....... 781
Amount short for making debt repayments. -718
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -23,285
Net Assets.............................. -23,285
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

skylight

karend1980 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 4 AGES 1, 6, 7, 10
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1239 CTC IS CB
Other income............................ 780 HB & CT BENEFIT I know another poster has said to put these down, but unless you are paid them into your bank account then I would not. So, if its a HA or council place and you get housing benefit directly then don't put them down. If you get LHA from a private rent, then put it down so that you can match your bank statements.
Total monthly income.................... 2019
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 705
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0 You can add £10 as you have school aged children. Have you applied for your grant for a free laptop yet???
Groceries etc. ......................... 450 This is incredibly low for a family of 5. £550 is much, much nearer the mark.
Clothing................................ 125 Although this is a little high. £100.
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 130
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 0 Optical? Does anyone wear glasses?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 19
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 100 This is on the high side.
Emergency fund.......................... 0
Total monthly expenses.................. 1956

Just my two pennys worth.

At the end of the day, its not an exact science. And as you are on benefits you are not going to get an IPA, but you need to show how you spend and that you are not taking the "p".

karend1980

skylight wrote: »

Just my two pennys worth.

At the end of the day, its not an exact science. And as you are on benefits you are not going to get an IPA, but you need to show how you spend and that you are not taking the "p".

OK thats fair enough. I have just changed ober to the LHA scheme I will get most of my rent paid but I will have it paid to me.. which is a bit scarey.