help help help

loopymadlover

heres my soa please see additional information!!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 3 2 bikes 1 car

Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1100 its not currently this high
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2300

Monthly Expense Details
Mortgage................................ 576
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 54 what it costs
Gas..................................... 23 will go up
Oil..................................... 0
Water rates............................. 20 on meter
Telephone (land line)................... 15 cant change
Mobile phone............................ 55 will go down £20 in august
TV Licence.............................. 12
Satellite/Cable TV...................... 25 we dont go out
Internet Services....................... 17 cant change
Groceries etc. ......................... 275 including dog food
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ 20
Car Insurance........................... 50
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 4
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 18
Life assurance ......................... 18
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1501


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 112000...(576)......4.59repayment ltv 95%ish
Total secured & HP debts...... 112000....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
debt ..........................22373.....750.......0
Total unsecured debts..........22373.....750.......- debts added together paying off by whats the cost snowball calculator will be debt free in 36 months


Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including HP & secured debts). 1,501
Available for debt repayments........... 799
Monthly UNsecured debt repayments....... 750
Amount left after debt repayments....... 49

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -112,000
Total Unsecured debt.................... -22,373
Net Assets.............................. -134,373

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



were a couple living in hull so not much chance of changing jobs as there really are none here.

partner has a car and bike but is going to sell his bike as he doesn't use it and will pay off finance of 2k will the funds.

i have a scooter but learning to drive i have second job to help pay for this, we do smoke but that comes out the food budget just tabacco !

we average 80 +hour a week but paid at almost min wage :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad: :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad: :mad::mad::mad::mad:

any advice greatly appreciated im growing my own veg with some success buy value and food from local frozen shop which is cheap don't socialise other than at friends rarely have dinner out or takeaway but it comes from food budget


:beer::beer::beer::beer::beer::beer::beer:

webitha

you really need to break down your debts hun, with the aprs

Tixy

Hi

loopymadlover wrote: »

heres my soa please see additional information!!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 3 2 bikes 1 car

Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1100 its not currently this high
Benefits................................ 0 what is he earning currently? would he be entitled to tax credits at all?
Other income............................ 0
Total monthly income.................... 2300

Monthly Expense Details
Mortgage................................ 576
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 54 what it costs do you know why you are using so much elec? this is high for 2 people so I would suggest you spend some time working out why you are using a lot. Try to work out which applicances use the most and minimise use of them. Check you don't have an immersion heater switched on all day (should only need to be on a couple of hours). Do you have any arrears in this? have you looked for a cheaper supplier and a cheaper tariff? online tariffs are usualky about 10% cheaper than standard
Gas..................................... 23 will go up why will this go up? do you have arrears?
Oil..................................... 0
Water rates............................. 20 on meter
Telephone (land line)................... 15 cant change why? are you in contract? how long for?
Mobile phone............................ 55 will go down £20 in august
TV Licence.............................. 12
Satellite/Cable TV...................... 25 we dont go out cut back to a lower tariff or combine with broadband
Internet Services....................... 17 cant change why? are you in contract and if so how long for?
Groceries etc. ......................... 275 including dog food this is high - how much is tobaccos? how much is dog food? what is your actually tru grocery spend for the 2 of you?
Clothing................................ 0
Petrol/diesel........................... 200 are these all essential miles? do you fill up at the cheapest place and drive fuel efficently?
Road tax................................ 20
Car Insurance........................... 50
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 4
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 18 B&C look fairly high (though you haven't included your house value) I would suggest you could probably save if you shop around ( egshould be able to get for around £20 combined for a house worth less than £175k)
Life assurance ......................... 18 have you shopped around to ensure its the best deal?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 do you never buy anything for anyone?
Haircuts................................ 0 do you do these yourselves at home?
Entertainment........................... 0 is this realistic?
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1501


Assets
Cash.................................... 0
House value (Gross)..................... 0 how much is it worth?
Shares and bonds........................ 0
Car(s).................................. 0 what are these worth?
Other assets............................ 0
Total Assets............................ 0


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 112000...(576)......4.59repayment ltv 95%ish
Total secured & HP debts...... 112000....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
debt ..........................22373.....750.......0 really need to see this broken down to have an idea as to whether you are managing. Is £750 just minimum payments on any cards/overdrafts etc?
Total unsecured debts..........22373.....750.......- debts added together paying off by whats the cost snowball calculator will be debt free in 36 months


Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including HP & secured debts). 1,501
Available for debt repayments........... 799
Monthly UNsecured debt repayments....... 750
Amount left after debt repayments....... 49

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -112,000
Total Unsecured debt.................... -22,373
Net Assets.............................. -134,373

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



were a couple living in hull so not much chance of changing jobs as there really are none here.

partner has a car and bike but is going to sell his bike as he doesn't use it and will pay off finance of 2k will the funds.

i have a scooter but learning to drive i have second job to help pay for this, we do smoke but that comes out the food budget just tabacco !

we average 80 +hour a week but paid at almost min wage :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad: :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad: :mad::mad::mad::mad:

any advice greatly appreciated im growing my own veg with some success buy value and food from local frozen shop which is cheap don't socialise other than at friends rarely have dinner out or takeaway but it comes from food budget


:beer::beer::beer::beer::beer::beer::beer:

Well done for posting. Are you sure you have included all the costs you need? No presents, haircuts, clothes, entertainment? If these are more than £49 per month then you actually have a shortfall not a surplus.
Plus if OH is not earning that amount currently then are you still managing to meet all your debt repayments without reusing any credit?

Also I would really look carefully at your elec use to find out why it is comparatively high.

loopymadlover

just to update

elec and gas are online tarriff and in arrears of £180 and £130 respectively its also the cheapest for our area

we dont qualify for benefits not sure how but we're managing the payments but we had some compensation money which has dwindled to nothing now. were getting rid of one bike which frees up 100 pcm so debts paid quicker.

the debts are split up on whatsthecost website so paying highest interest rate first then next then next got 4 hp debts one finishes in 02/11 they are all included in the debts this will be 3 once bike has been sold!!!!