My SOA for you to look at please

Annie_99

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 1467
Benefits................................ 400
Other income............................ 0
Total monthly income.................... 2767
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 625
Management charge (leasehold property).. 0
Council tax............................. 99
Electricity............................. 40
Gas..................................... 107
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 40
Mobile phone............................ 60
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 400
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 20
Car Insurance........................... 55
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 60
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10.4
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1721.4

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
next...........................327.26....30........0
rbs loan.......................13,000........269.......0
rbs overdraft..................2000......0.........0
john lewis.....................958.82....40........0
barclaycard....................4134......100.......0
capital one....................487.72....25........0
Total unsecured debts..........7920.8....464.......-

Monthly Budget Summary
Total monthly income.................... 2,767
Expenses (including HP & secured debts). 1,721.4
Available for debt repayments........... 1,045.6
Monthly UNsecured debt repayments....... 464
Amount left after debt repayments....... 581.6
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,920.8
Net Assets.............................. -7,920.8
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

slummymummyof3

Annie_99 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 1467
Benefits................................ 400
Other income............................ 0
Total monthly income.................... 2767
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 625
Management charge (leasehold property).. 0
Council tax............................. 99
Electricity............................. 40
Gas..................................... 107 Wow this is hefty.....do you have a lot owing that you are repaying?
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 40 This is high - can you get a better package?
Mobile phone............................ 60 Can you reduce this as it is extortionate
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 You should be able to get a better deal with a package - check out the cashback sites as well for deals.
Groceries etc. ......................... 400 Where are you shopping? Try Aldi/Lidl, take packed lunches to work and try meal planning
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 20
Car Insurance........................... 55 Are you an inexperienced driver/have convictions as this is horrific - use comparison sites, clear cookies and then try cash back sites when due for renewal
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 60 Can you get involved in a car share scheme?
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10.4
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0 You need life insurance with children!!!!!
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1721.4

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
next...........................327.26....30........0
rbs loan.......................13,000........269.......0
rbs overdraft..................2000......0.........0
john lewis.....................958.82....40........0
barclaycard....................4134......100.......0
capital one....................487.72....25........0
Total unsecured debts..........7920.8....464.......-

Monthly Budget Summary
Total monthly income.................... 2,767
Expenses (including HP & secured debts). 1,721.4
Available for debt repayments........... 1,045.6
Monthly UNsecured debt repayments....... 464
Amount left after debt repayments....... 581.6
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,920.8
Net Assets.............................. -7,920.8
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Have added some ideas in red which should help.

WASHER

Annie_99 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 1467
Benefits................................ 400
Other income............................ 0
Total monthly income.................... 2767
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 625
Management charge (leasehold property).. 0
Council tax............................. 99
Electricity............................. 40
Gas..................................... 107
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 40 - too high each month
Mobile phone............................ 60 - too high
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 400
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 20
Car Insurance........................... 55
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 60
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10.4
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0 - YOU MUST HAVE THIS
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5 - I wouldn't think this would be enough with three children
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1721.4

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
next...........................327.26....30........0
rbs loan.......................13,000........269.......0
rbs overdraft..................2000......0.........0
john lewis.....................958.82....40........0
barclaycard....................4134......100.......0
capital one....................487.72....25........0
Total unsecured debts..........7920.8....464.......-

Monthly Budget Summary
Total monthly income.................... 2,767
Expenses (including HP & secured debts). 1,721.4
Available for debt repayments........... 1,045.6
Monthly UNsecured debt repayments....... 464
Amount left after debt repayments....... 581.6
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,920.8
Net Assets.............................. -7,920.8
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Pleased to see you posted your SOA.

Either you have missed something off your SOA or you are spending unnecessarily, according to this you have over £500 per month surplus.

You could clear Next this month and then Half of JL the next month.

Recheck your figures, otherwise you need a spending diary to see where you are spending the £500 per month.

Do you pay childcare? I noticed both of you worked, just thinking if you have missed something off the SOA.

WASHER.x.

happytails

£20 a month for haircuts :eek:

Gas also seems alot, so does telephone and internet. Also £0 for entertainment with 3 kids?

£110 a month on car ins and other travel combined - this is alot of money for transport, can this be cut any way?

Also £20 a month on clothes? I presume most of this is school uniform?

Groceries, we were paying £250 for family of 3 - we are managing this on £175 now, aiming for £150pm so i think there is room for savings here, try the OS board for tips and batch cooking. Meal plan and try downshifting brands to say money i reckon you could do this for £250 if you were careful.

HTH x