SOA / Ins and outs

auldblerk

Here is my soa thingy for advice please ..

Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 320
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 60
Gas..................................... 20
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 220
Clothing................................ 10
Petrol/diesel........................... 60
Road tax................................ 10
Car Insurance........................... 22
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
xmas savings............................ 0
Total monthly expenses.................. 930

sniggings

auldblerk wrote: »

Here is my soa thingy for advice please ..

Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 320
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 60 is this not more
Gas..................................... 20 as above
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 25 seems low ,you can have a mobli add it to this
Mobile phone............................ 0 add to phone
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 220
Clothing................................ 10 seems low
Petrol/diesel........................... 60 seems abit low
Road tax................................ 10
Car Insurance........................... 22 is this correct ( fully comp as you dont have funds for replacment of a car)
Car maintenance (including MOT)......... 10 add a bit for up keep
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10 seems low rember thats £10 a month?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30 can be dis allowed
Emergency fund.......................... 0
xmas savings............................ 0
Total monthly expenses.................. 930

should be fine with a few corretion I have pointed out

auldblerk

Thanks for advice, was gettin worried that nobody was gonna comment; the silence was deafening for a moment there lol. I never thought of the fully comp bit, I have 3rd party, fire and theft with breakdown cover. I'm hoping to put what's left between out and in towards a banger to get to work and back (plus the proceedings from junk selling on E-bay) but don't know if the OR will see it that way ?!

sniggings

so you dont havea car yet? I'm a bit confused with what your saying? but yes if you are saying you need a car for work then you can claim fully comp as an expence,without a car you cant work so fully comp is a needed expence.

auldblerk

Have a car but on it's last legs; MOT in June but little chance of it passing it's test and need one to get to work and back. Get through the BR on Monday then have to concentrate on trying to get some money together for another car. Always seem to have something to worry about.

confused76

auldblerk wrote: »

Here is my soa thingy for advice please ..

Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 320
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 60
Gas..................................... 20 seems low is this right?
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 220
Clothing................................ 10
Petrol/diesel........................... 60
Road tax................................ 10
Car Insurance........................... 22
Car maintenance (including MOT)......... 10 i would increase this to 30-40 as this needs to cover you for mot service and any unforseen repairs
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
xmas savings............................ 0
Total monthly expenses.................. 930

couple of comments otherwise looking ok

sniggings

I see now:) the OR will not let you save for a new car but as your income is only £1000 (mine was a very little higher with no iva) then with the correction a have suggested you in all likely hood not get a iva,any new car will have to come out of excess /overtime (ebay) the OR will in most cases let you earn a bit of overtime without affecting you,as long as its not every week and loads of extra money,and rember without a car if it breaks down you will have the petrol - tax etc money to use to save for a replacment.

tech2_2

Bare in mind that when you tell the insurance company for the contents and the car this could rise!

We changed to Tesco and it actually reduced...... result and with better cover than our old insurance...

Tech2

P

nic_santorini

are there any government benefits that you could get to support your wage? I don't know about these, perhaps they are for families with low income?? Maybe worth a look on direct.gov website to find out. You can definitely get your food shopping down, have a look a meal planners on this website, they are very helpful. You could easily get it down to £25 per week for 1 person. This would save you £125 a month.

sniggings

nic_santorini wrote: »

are there any government benefits that you could get to support your wage? I don't know about these, perhaps they are for families with low income?? Maybe worth a look on direct.gov website to find out. You can definitely get your food shopping down, have a look a meal planners on this website, they are very helpful. You could easily get it down to £25 per week for 1 person. This would save you £125 a month.

good advice for AFTER BR not before.

auldblerk

The 'IVA people' took one look at my ins and outs and dropped me like a rock. Didn't realise I would have to contact the house and car insurance people and have always been just over the threshold for any benefits i.e. working tax credits, believe me, the government are cute on that one.