Revised SOA

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 ......................... 8
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1729.4

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.......................13000.....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..........20907.8...464.......-

Monthly Budget Summary
Total monthly income.................... 2,767
Expenses (including HP & secured debts). 1,729.4
Available for debt repayments........... 1,037.6
Monthly UNsecured debt repayments....... 464
Amount left after debt repayments....... 573.6
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -20,907.8
Net Assets.............................. -20,907.8
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

WASHER

Annie,

could I kindly ask you not to keep starting new threads, but please post on your original thread, it is making it difficult to follow your post.

Simply click onto post reply on your original thread and you can post any amendments to your SOA.

WASHER.x.

Annie_99

I wont know what to do as Im dyslexic, i was made up to be even able to do the soa but then have made a mess.
I wont post again as Ill drive you all mad

MFWannabe

Annie_99 wrote: »

I wont know what to do as Im dyslexic, i was made up to be even able to do the soa but then have made a mess.
I wont post again as Ill drive you all mad

Hi Annie

If you need help then please stick around; we can give advice on the above soa.

NorthernLas

Annie - Noo, don't stop now, you've cracked it, you've replied to this thread. So just keep on doing the same when you repost your SOA :rotfl:

Your SOA says that you have over £500 left at the end of the month. Have you forgotten anything, and do you have this money spare???

If not start a spending diary, where you get a notebook and write everything down you spend. Alternatively, use your card for everything and then go through your bank statement to check that what you have written in the SOA matches what you spend.

Also your food for 5 is £400. People on here would say you can reduce that to £300 if you batch cook and drop a brand.

WASHER

Annie, I'm so so sorry, I didn't mean for one minute to upset you.

As NorthernLas has said you have cracked it, you have replied to the post.

We are not here to judge you, on your debt, disability or whatever, but to help you.

Stick around please, especially tomorrow, you will get lots of good advice.

WASHER.x.

Annie_99

I dont think we have 500 spare.. We seem to never have enough so Im gonna sit down with a statement tomorrow and have a look against this soa and compare.

All i know is we need to start making a dent in our debt x

WASHER

Annie,

Can I ask you, to have a look at your bank statement and see how much you withdrew from the cash machine over the past month. I ask you this, because at the beginning of my debt journey I was horrified to see that I took out almost £300 per month out ( £10 a day, doesn't seem much, but it adds up).

MFWannabe

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 - This is very high; try comparison sites to see if you can get cheaper
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 40 - this is high; check what calls are being made and when; would it be cheaper to go to a anytime calls package?
Mobile phone............................ 60 - this is high; try to drop down to a lower tarriff or pay as you go if you can
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 - this is very high; try comparison sites for cheaper deals
Groceries etc. ......................... 400 - You could maybe knock £50 to £100 off this; try dropping down a brand
Clothing................................ 20
Petrol/diesel........................... 40 - Is this correct? It's not a lot for a month; do you really need a car?
Road tax................................ 20
Car Insurance........................... 55 - This is high; again check on comparison sites to see if you can get cheaper
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 60 - What is this for?
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 ......................... 8
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 20 - This is high; unless of course your children are girls and then this is probably about right
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1729.4

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.......................13000.....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..........20907.8...464.......-

Monthly Budget Summary
Total monthly income.................... 2,767
Expenses (including HP & secured debts). 1,729.4
Available for debt repayments........... 1,037.6
Monthly UNsecured debt repayments....... 464
Amount left after debt repayments....... 573.6
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -20,907.8
Net Assets.............................. -20,907.8
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

I've added some comments in your soa above. It states that you have £573 left over; is this correct? If not then try to keep a spending diary; look at where you spend the odd £1 here and there; they soon mount up

Try to find out what the APR's are on the cards and loan; then start by paying off the highest APR card first; then move on to the next highest and so on. You may want to pay off Capital One and Next first as then you would have 2 paid off out of the way

Hope this helps x

NorthernLas

Annie - How old are the children? You have nothing down for childrens activities, entertainment or holidays
Do you really only spend £60 on Christmas and birthdays?
And £40 on petrol?

Do you have bank charges on your overdraft?

Just some ideas ...

Annie_99

Ok, So this morning I need to go through my Bank Statement to see what is happening to our supposed £500 quid spare.

Look at car costs, Insurance and Petrol.
Gas prices
Internet
Phone bills

This is a wake up call because we may be able to make headway once I have a true picture.

Thanks Ill post here later on!!