Soa

sold1234

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1035
Partners monthly income after tax....... 0
Benefits................................ 1000
Other income............................ 0
Total monthly income.................... 2035
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 87
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 47
Telephone (land line)................... 0
Mobile phone............................ 9.99
TV Licence.............................. 11
Satellite/Cable TV...................... 41
Internet Services....................... 9.99
Groceries etc. ......................... 250
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 510
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 14
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 100
Total monthly expenses.................. 1884.98
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
hsbc visa card.................1500......34........0
Total unsecured debts..........1500......34........-
Monthly Budget Summary
Total monthly income.................... 2,035
Expenses (including HP & secured debts). 1,884.98
Available for debt repayments........... 150.02
Monthly UNsecured debt repayments....... 34
Amount left after debt repayments....... 116.02
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,500
Net Assets.............................. -1,500

Hi can anyone give me any advice on were i could make some savings. Thanks:)

tealady

Hi
Theres a sticky at the top. Someone clever will be along soon with a link as I'm useless with computers.

gonzo127

http://www.makesenseofcards.com/soacalc.html

sold1234

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1035
Partners monthly income after tax....... 0
Benefits................................ 1000
Other income............................ 0
Total monthly income.................... 2035
Monthly Expense DetailsMortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 87
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 47
Telephone (land line)................... 0
Mobile phone............................ 9.99
TV Licence.............................. 11
Satellite/Cable TV...................... 41
Internet Services....................... 9.99
Groceries etc. ......................... 250
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 510
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 14
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 100
Total monthly expenses.................. 1884.98
AssetsCash.................................... 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
hsbc visa card.................1500......34........0[
Total unsecured debts..........1500......34........-
Monthly Budget Summary
Total monthly income.................... 2,035
Expenses (including HP & secured debts). 1,884.98
Available for debt repayments........... 150.02
Monthly UNsecured debt repayments....... 34
Amount left after debt repayments....... 116.02
Personal Balance Sheet SummaryTotal assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,500
Net Assets.............................. -1,500

Hi can anyone give me any advice on were i could make some savings. Thanks:)

Tixy

Hi

sold1234 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1035
Partners monthly income after tax....... 0
Benefits................................ 1000
Other income............................ 0
Total monthly income.................... 2035
Monthly Expense DetailsMortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650 is this competative in your area?
Management charge (leasehold property).. 0
Council tax............................. 87 are you claiming 25% discount? so you pay over 10months? some councils will allow you to pay over 12 to help budgeting.
Electricity............................. 40 looks a bit high. For gas & elec have you checked the comparison sites to see if another supplier or another tariff would be cheaper? do you have any arrears? can you try reducing your usage a little? (always switch things off when not in use, limit use of elec heaters, tumble driers, immersion heater etc)
Gas..................................... 40
Oil..................................... 0
Water rates............................. 47 is this meterer or unmeasured? have you looked to see if a meter would be cheaper?
Telephone (land line)................... 0
Mobile phone............................ 9.99
TV Licence.............................. 11
Satellite/Cable TV...................... 41 drop to a lower package? or drop altogether?
Internet Services....................... 9.99 can you not get this free with your sky package above?
Groceries etc. ......................... 250 should be able to reduce this quite a bit. Try meal planning before you shop, try own brand goods (especially for cleaning products, toilet roll etc). Should be able to do for £180 or a little less I would think
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 510 do you get benefits towards this? how old are the kids? (is it likely to decrease if they are soon moving up to school etc)
Other child related expenses............ 0 nothing at all? after school activities? pocket money?
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 14
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 0 nothing ever here?
Holiday................................. 0
Emergency fund.......................... 100 are you saving this each month? do you have anything saved up right now?
Total monthly expenses.................. 1884.98
AssetsCash.................................... 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
hsbc visa card.................1500......34........0[
Total unsecured debts..........1500......34........-
Monthly Budget Summary
Total monthly income.................... 2,035
Expenses (including HP & secured debts). 1,884.98
Available for debt repayments........... 150.02
Monthly UNsecured debt repayments....... 34
Amount left after debt repayments....... 116.02
Personal Balance Sheet SummaryTotal assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,500
Net Assets.............................. -1,500

Hi can anyone give me any advice on were i could make some savings. Thanks:)

Hi

I think there are some saving that can be made that I've mentioned above. But I would also look a the £116 surplus it shows you have, plus the emergency fund money you have put in.
Do you know where you have been spending this money over the last few months? Have you been overpaying the card debt? Or has it just got lost in general spends?
If it has then start a detailed spending diary where you write down everything (even the odd 50p) for a few months so you can track down anything not on your SoA.

sold1234

Tixy wrote: »

Hi



Hi

I think there are some saving that can be made that I've mentioned above. But I would also look a the £116 surplus it shows you have, plus the emergency fund money you have put in.
Do you know where you have been spending this money over the last few months? Have you been overpaying the card debt? Or has it just got lost in general spends?
If it has then start a detailed spending diary where you write down everything (even the odd 50p) for a few months so you can track down anything not on your SoA.

Hi,
Yes the council tax is with a single person reduction. The childcare i get some help from working tax credits which is in the benefits part of my soa. I think the spending diary is a very good idea because i only pay the basic payment on my credit card and i do not no were the rest goes.
And thanks alot for your reply.

Marisco

To be honest, I can't see much of a problem here! You have £216 left after paying everything (that includes emergency fund) But if you really want to save more, then get rid of the Sky and get Freeview. Are there any colleges near you? They sometimes have a "beauty" department and do half price hair do's. Also see about paying the council tax over 12 months - it works out cheaper!! I've been doing that for years!!;)