SOA Help

mennie

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 555
Partners monthly income after tax....... 555
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1110
Monthly Expense Details
Mortgage................................ 485.5
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 114
Electricity............................. 22
Gas..................................... 55
Oil..................................... 0
Water rates............................. 23.23
Telephone (land line)................... 23
Mobile phone............................ 0
TV Licence.............................. 12.12
Satellite/Cable TV...................... 18
Internet Services....................... 10
Groceries etc. ......................... 160
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 7.18
Buildings insurance..................... 20.15
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 70.43 - Mortgage insurances
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1020.61

Assets
Cash.................................... 500
House value (Gross)..................... 160000
Shares and bonds........................ 500
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 161000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 73000....(485.5)....4.95
Total secured & HP debts...... 73000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,110
Expenses (including HP & secured debts). 1,020.61
Available for debt repayments........... 89.39
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 89.39
Personal Balance Sheet Summary
Total assets (things you own)........... 161,000
Total HP & Secured debt................. -73,000
Total Unsecured debt.................... -0
Net Assets.............................. 88,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Hi All, looking for some help with my SOA. Although we have no debt, we are looking at ways to save much more.

This isnt a full SOA and just covers the money we pay into the joint account and the bills that come out of it.

Is there anything obvious that we would be saving on?

Many Thanks in advance

Marisco

Try paying your council tax over 12 months and bundle up your phone internet and satellite. You need to put something in for presents and entertainment even if it's only a tenner each!! Also contents insurance needs something. Have a look at comparison websites for your gas/electric, its probably cheaper with duel fuel.

bottleofred

Hi Mennie,

Definately do what Marisco has suggested, but you also need to include money for car insurance and mot etc. You could definately save money with a combined landline and broadband deal and the gas is very expensive.

mennie

Thanks for the replies.

We do have dual fuel and combined broad band and land line - i just split it for the purpose of the SOA. Cant have tv package lumped in as tied into contract at the moment.

We have separate accounts for ents, presents, clothes etc. The contents and builing insurance are together too. All the car stuff comes from DHs business account. We are just trying to save more in the this account to overpay the mortgage more.

Is my gas high? I chnaged recently, 11 months ago, to N Power, will look at that then.

Will changing the council tax to 12 payments make it cheaper?

HappyMJ

mennie wrote: »

Will changing the council tax to 12 payments make it cheaper?

No, it's a cashflow strategy. I'd much prefer to have 2 months off in Feb/Mar and use the payment to clear any pesky credit card bills or overdrafts from christmas/new year and to clear any extra on the gas bill near the end of of winter.

mennie

Yes, I would too, thanks