I'm so worried, really need soa advice please!

StarSophie88

I have jsut finished uni for the summer, so no student loan over summer, and will only have my wages, and to be honest i am only working about 10-16 hours a week, as hours have been seriously cut!


Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 410
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 410
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 0
Satellite/Cable TV...................... 5
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 36.6
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 4
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........................... 20
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
driving lessons......................... 160
Total monthly expenses.................. 545.6

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
Store Card 1...................270.......10........28.9
Store Card 2...................190.......10........28
Catalogue......................1530......5.........19.9
Overdraft......................988.97....11.08.....0
Total unsecured debts..........2978.97...36.08.....-

Monthly Budget Summary
Total monthly income.................... 410
Expenses (including HP & secured debts). 545.6
Available for debt repayments........... -135.6
Monthly UNsecured debt repayments....... 36.08
Amount short for making debt repayments. -171.68
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,978.97
Net Assets.............................. -2,978.97
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Tixy

Hi Sophie

StarSophie88 wrote: »

I have jsut finished uni for the summer, so no student loan over summer, and will only have my wages, and to be honest i am only working about 10-16 hours a week, as hours have been seriously cut! any chance of a summer job on top of the current one? could you do anything like tutoring of kids ready for their exams or babysitting for any neighbours kids in the summer holiday daytimes whilst they are at work?


Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 410
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 410
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 0 do you not need this? or is it part of rent?
Satellite/Cable TV...................... 5
Internet Services....................... 0
Groceries etc. ......................... 100 possibly can reduce a little, especially if you have more time, maybe to £80
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 36.6 what is this? is it the cheapest way of getting to work?
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 4
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........................... 20
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
driving lessons......................... 160 this would seem like the obvious place to cut spending, can you cancel these and start them up again in autumn?
Total monthly expenses.................. 545.6

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
Store Card 1...................270.......10........28.9
Store Card 2...................190.......10........28
Catalogue......................1530......5.........19.9 are these all the proper minimums or are you on payment plans?
Overdraft......................988.97....11.08.....0
Total unsecured debts..........2978.97...36.08.....-

Monthly Budget Summary
Total monthly income.................... 410
Expenses (including HP & secured debts). 545.6
Available for debt repayments........... -135.6
Monthly UNsecured debt repayments....... 36.08
Amount short for making debt repayments. -171.68
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,978.97
Net Assets.............................. -2,978.97
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

I would say unless you can increase your income somehow you need to stop the driving lessons (or at least reduce them so you only go fortnightly or whatever).

StarSophie88

Thanks so much for your advice, much appreciated!

I have had a feeling that my lessons are going to have to go. I get 2 a week at £20 each. This is my third time having to stop then restart them now.
My catalogue account is on a buy now pay april 2011 deal, as i had to get new furniture for my flat recently from because of some smoke damage.
I don't pay a tv lisence, as my tv is back home, i just use my laptop to watch tv.

Travel is for a monthly bus pass, which gets to and from work and uni, and to friends houses etc.
I do try and generally buy cheap items when i'm getting the shopping, like the own brand things. But that also covers cleaning stuff and toiletries, and maybe a new top here and there. Asda is the only supermarket near me, there is a Tesco, but it would be such as hassle as it's 2 buses away, and with a load of shopping to carry as well.

Tixy

If you cut down to having one a fortnight that would still save you £120 and would perhaps mean you keep your hand in and don'd forget what you have learnt already?

RAS

StarSophie88 wrote: »

My catalogue account is on a buy now pay april 2011 deal, as i had to get new furniture for my flat recently from because of some smoke damage.

You should have been paid for this by your insurance companty? And to have got stuff via www.freegle.co.uk.

I don't pay a tv lisence, as my tv is back home, i just use my laptop to watch tv.

if you watch programmes at the time they are transmitted you need a licence to watch on your lap-top. I-player is OK.

But that also covers cleaning stuff and toiletries, and maybe a new top here and there.

the odd top has to stop, you cannot afford it.

What do you no longer use and can sell?

Can you get another PT job or some agency work?

StarSophie88

We don't have any insurance on this, as its just a student flat. Stupid flatmate came in drunk and tried to make something to eat, left the hob on with a dishcloth right beside it. And my room is next to the kitchen! So i had to get a new wardrobe, and drawers.

No i don't watch anything live, as all the tv shows i watch are American shows, i watch them via sidereel.com the day after they have been shown in the US.