SOA and help required

RosieandJim_2

Sorry also forgot to add the children's school lunches and beavers also haven't added eldest school bus travel and wife's bus pass to town for weekly shop etc

RosieandJim_2

Have taken on board the comments and changed SOA to reflect post BR
and remembered kids school lunches and wifes travel and eldest school pass. Can't believe how badly we budgeted and how much we really do spend no wonder we in such a mess.

Thanks again for not judging and being helpful was expecting a good kicking, but all great thanks again

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2392.74
Partners monthly income after tax....... 0
Benefits................................ 230
Other income............................ 0
Total monthly income.................... 2622.74

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 725
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 60
Gas..................................... 60
Oil..................................... 0
Water rates............................. 21
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 580
Clothing................................ 140
Petrol/diesel........................... 250
Road tax................................ 20
Car Insurance........................... 35.35
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 180
Medical (prescriptions, dentist etc).... 39.65
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 14.89
Life assurance ......................... 17.6
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 2540.61


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Provident......................1800......100.......0
Payplan........................10000.....185.......0
PayDayloan.....................1300......1300......0
studio.........................150.......20........0
Total unsecured debts..........13250.....1605......-


Monthly Budget Summary
Total monthly income.................... 2,622.74
Expenses (including HP & secured debts). 2,540.61
Available for debt repayments........... 82.13
Monthly UNsecured debt repayments....... 1,605
Amount short for making debt repayments. -1,522.87

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,250
Net Assets.............................. -12,750

RosieandJim_2

Thanks for the input etc, could someone far cleverer than I have a look at the latest SOA and tell us if it's okay

cheers

JCS1

RosieandJim wrote: »

Have taken on board the comments and changed SOA to reflect post BR
and remembered kids school lunches and wifes travel and eldest school pass. Can't believe how badly we budgeted and how much we really do spend no wonder we in such a mess.

Thanks again for not judging and being helpful was expecting a good kicking, but all great thanks again

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2392.74
Partners monthly income after tax....... 0
Benefits................................ 230
Other income............................ 0
Total monthly income.................... 2622.74

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 725
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 60
Gas..................................... 60
Oil..................................... 0
Water rates............................. 21
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 580
Clothing................................ 140
Petrol/diesel........................... 250 Keep receipts to prove this as it's high
Road tax................................ 20
Car Insurance........................... 35.35
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 180 You might need to break this down, normally allowed is one after school activity per child.
Medical (prescriptions, dentist etc).... 39.65 Might be a bit high, how is this split between prescriptions, dental, opticiains, etc
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 14.89
Life assurance ......................... 17.6 OR will have an interest in this
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 2540.61


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Provident......................1800......100.......0
Payplan........................10000.....185.......0
PayDayloan.....................1300......1300......0
studio.........................150.......20........0
Total unsecured debts..........13250.....1605......-


Monthly Budget Summary
Total monthly income.................... 2,622.74
Expenses (including HP & secured debts). 2,540.61
Available for debt repayments........... 82.13
Monthly UNsecured debt repayments....... 1,605
Amount short for making debt repayments. -1,522.87

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,250
Net Assets.............................. -12,750

Few comments, but more that some of the figures seem high without knowing what they are made up of.

RosieandJim_2

Hi thanks again the child costs are made up of school lunches, and beavers once a week.

The prescription cost is made up of HSA to cover all dental, optical etc for family of 5 and wife's PPC

Also why would OR be interested in life cover as only pays out if either die.

cheers again

confused76

i *think* that the school lunches come out of the groceries budget so don't get listed separately and not in addition

RosieandJim_2

Thanks, so they better swap to pack lunches I guess as this is made up of £2 a day per child. Guess it's sandwiches etc. from now on for them

JCS1

RosieandJim wrote: »

Hi thanks again the child costs are made up of school lunches, and beavers once a week.

The prescription cost is made up of HSA to cover all dental, optical etc for family of 5 and wife's PPC

Also why would OR be interested in life cover as only pays out if either die.

cheers again

Life assurance is an asset in Bankruptcy and the policy will vest in the OR.

Options are:

• keep paying and when something happens even in many years time the money goes to the OR
• Let the policy lapse and take out a new one (preferably after discharge)
• Buy the OR's interest for a one off charge of £50

tigerfeet2006

confused76 wrote: »

i *think* that the school lunches come out of the groceries budget so don't get listed separately and not in addition

No it doesn't Confused. Usually allowed £2 per day per child primary and £3 for secondary.

RosieandJim wrote: »

Thanks, so they better swap to pack lunches I guess as this is made up of £2 a day per child. Guess it's sandwiches etc. from now on for them

See my comments above.

RosieandJim_2

Thanks again for some seriously good advice and on a sunday!! does the rest look okay then Tiger, this is how we see it after BR as we are in so much robbing peter to pay paul type stuff.

just have to find 1200 pounds now!!!, going to talk to CCCS tommorow as well