My Updated SOA - Still struggling

Butterfliesarepretty

bluefuzzybug wrote: »

Good Luck, asking for help is the first step! So many people here have gotten themselves into a better position and I'm sure you can too.

You mentioned that you tried doing overtime but it was too stressful. Is this something you could reconsider? I appreciate you need the rest between weeks and it will be less time to see your daughter but just to boost your income for a bit could you try to find a way to cope?

I was stressful because you were asked every five mins how much work you had done, instead of letting you get on with it. Plus my health has suffered, got shoulder problems and going for physio soon and my dad is ill with cancer too at 73 so need to rest as much as I can and enjoy the free time I have to spend with my friends , daughter and visiting my dad.

caeler

Totally understand. Maybe its worth popping over to the 'up your income' part of the forum and see if there is anything in there that could help. http://forums.moneysavingexpert.com/forumdisplay.php?f=145

HappyMJ

RAS wrote: »

It is only a tiny amount but I think that if your travel to see your daughter costs more than £10, you can ask for the extra to be disregarded (reduce your CSA by that amount).

Check in the Child Supoport forum.

Yep that's £10 per week @ fuel costs only of 15p per mile (assuming petrol engine 1.4 to 2.0 - 37mpg @ £1.20 per litre) plus tolls only. As OP only spend £20 per month it's way under the limit.

As normal visits on a regular basis are usually for most people fortnightly then the PWC needs to live about 70 miles away. Or for a monthly visit 145 miles away. And that's the minimum. Travel costs need to be higher than that to be considered.

shebrett

Overtime can be stressful but it's definately the quickest way to boost your income. Maybe try it on a semi regular basis like once a month or so and then increase it when you start to feel able to? Good luck with everything, sounds like you have a lot going on.

RAS

Butterfliesarepretty wrote: »

My mortgage I have extended on the largest account to 40 years to save money.

This is scary, how old will you be when it ends?

Butterfliesarepretty wrote: »

I dont pay into a pension because I cant afford it, I have got two frozen pension accounts.

Right now you need to sort out your other finances but this has to be a priority.

Butterfliesarepretty wrote: »

I am applying for jobs all the time to earn a lot lot more but cant see how I can improve my income as I work long hours anyway.

Hi you work 40 hours? or 37 and a half if you get lunch-breaks. I know you work long days but you do not work long hours.

Butterfliesarepretty wrote: »

I also have a overdraft of £550 with santander which I always have to use to get by.

Longer term that needs sorting out

Butterfliesarepretty wrote: »

Just now bought my car tax and I will have around £30 left till the 15th october then its my credit card.

What has to come out of that £30?
Go over to the old style forum and ask for help with menu planning, stardrops etc

Butterfliesarepretty wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000.17
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000.17
Monthly Expense Details
Mortgage................................ 192.8
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 72
Electricity............................. 24
Gas..................................... 24
Oil..................................... 0
Water rates............................. 13.39
Telephone (land line)................... 13.99
Mobile phone............................ 10
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 7.5
Groceries etc. ......................... 60 - this is tight for a single person
Clothing................................ 20 - do you put this aside or buy when you can?
Petrol/diesel........................... 60
Road tax................................ 19
Car Insurance........................... 33.53
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 20 - what is this?
Childcare/nursery....................... 0
Other child related expenses............ 130.9
Medical (prescriptions, dentist etc).... 8
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 7.61
Life assurance ......................... 7.7
Other insurance......................... 0
Presents (birthday, christmas etc)...... 2 - is this enough to cover christmas and birthday for your daughter?
Haircuts................................ 6
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 774.54

Assets
Cash.................................... 0
House value (Gross)..................... 90000
Shares and bonds........................ 100
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 92100

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 42000....(192.8)....2.5
Total secured & HP debts...... 42000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Tesco Club Card................1907.85...58........16.9 - this is what you need to hit
Overdraft......................555.......0.........0
Total unsecured debts..........2462.85...58........-

Monthly Budget Summary
Total monthly income.................... 1,000.17
Expenses (including HP & secured debts). 774.54
Available for debt repayments........... 225.63
Monthly UNsecured debt repayments....... 58
Amount left after debt repayments....... 167.63 - do you usually have this left at the end of the month?
Personal Balance Sheet Summary
Total assets (things you own)........... 92,100
Total HP & Secured debt................. -42,000
Total Unsecured debt.................... -2,462.85
Net Assets.............................. 47,637.15
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Butterfliesarepretty wrote: »

But when I travel to chester to pick up my daughter its around £20 goes in the car once a month.
Sometimes I have no money to pick her up.

Hi seeing your daughter is a priority. That means at the start of the month putting £20 into your budgetting account, so that you have the money available later in the month

RAS

Are you paid weekly, fortnightly or monthly?

Butterfliesarepretty wrote: »

I will put the overdraft in as debt, I have no spare stuff to ebay or car boot. I only buy what I need, never been a hoarder like my dad was.

You may need to learn the gentle art of hoarding; it is a bit like budgetting, a way of ensuring that when times get rough, there is something put away to tide you through the month.

Butterfliesarepretty wrote: »

I cant have a lodger at all, as its my daughters bedroom and you have to walk through her bedroom to get to bathroom so no privacy. I live in 2 bed terraced house.

I can imagine the house; one of my friends lived in a Victorian terrace with a front and back room on each floor, the kitchen came off the back room downstairs and the bathroom off the back bedroom. She had a yard with sheds etc out back.

Do you still have the old outside loo in place?

You cannot have a lodger, but you could think about taking people on odd occasions for special events? You have essentially an en-suite bedroom, just it means you have to use the outside loo for a day or two.

You would need to report it as extra income for tax purposes.

Butterfliesarepretty wrote: »

I used to do quidco but dont buy anything until xmas comes thats when I use quidco. I used it for my breakdown cover, but I have got rid of that because I never have any money to renew it.

Hi, it comes down to the budgeting again. Did you put the money aside to cover this

Butterfliesarepretty wrote: »

Online surveys etc I just dont have enough time to do them Im always finishing jobs in the house.

There is nothing in the budget for household maintenance or for improvements? How much have you spent over the last year?

Butterfliesarepretty wrote: »

My cv is being looked at the moment so the only way I can improve my situation is to be in a better paid job, thats the big problem. I have always budgeted, never behind on bills, gas and electric always in credit for winter.

I hope you do not mind the tough love, but as Happy point out, much of the time you are not budgetting MSE style.

Your car tax, petrol money to see your daughter and breakdown cover should never have been unavailable if you budget.

If you have read Martin's books you will have heard the story about his friend reeling from the impact of Chrsitmas because she had not put aside money to pay for it through the year?

You need to put the money for car tax, visiting your daughter, breakdown cover, clothing and entertainments/holidays aside in advance every payday, so that you can pay them when they happen. In time you should aim to include your house and contents insurance as well, because if you pay for the whole year, you get a cheaper deal.

Right now, your dad is very ill, how much do you need to put aside each month to visit him?

I note from other posts that you sometimes go away for the weekend. OK it is camping but you need to save a small amount, even £10 per month towards ents/holidays. Then you will have your petrol money when you need it.

This may all sound all very anal but what it is about is getting in control of your money, so that you are not reeling from one crisis (not enough for tax) to another (not enough to pay the MOT and cover the trip to Chester) and being abkle to take advantage of deals (having £40 in the clothing budget to get a pair of shoes and a new bra in the sales).

Right now life is very much half empty and with what is going on re your dad, that is not surprising. But if you budget, it will be a lot less stressful.

Butterfliesarepretty

RAS wrote: »

Are you paid weekly, fortnightly or monthly?

I am paid monthly on the 15th.



You may need to learn the gentle art of hoarding; it is a bit like budgetting, a way of ensuring that when times get rough, there is something put away to tide you through the month.

I dont buy things I dont need sorry to save money.



I can imagine the house; one of my friends lived in a Victorian terrace with a front and back room on each floor, the kitchen came off the back room downstairs and the bathroom off the back bedroom. She had a yard with sheds etc out back.

Do you still have the old outside loo in place?

No outside loo, was knocked down before I moved in. there is no back room just lounge then stairs then kitchen then yard.

You cannot have a lodger, but you could think about taking people on odd occasions for special events? You have essentially an en-suite bedroom, just it means you have to use the outside loo for a day or two.

You would need to report it as extra income for tax purposes.
I dont have an ensuite bedroom, friends do not stay over or are not interested in coming to see me. My bedroom has one 2 year old double bed, no bedside cabinets, one old falling to bits pine set of drawers and one ten year old pine single wardrobe.



Hi, it comes down to the budgeting again. Did you put the money aside to cover this

I dont think you quite understand that when my bills go out whatever is left is for food which I always budget on and petrol. I am currently getting a budget card from the post office to put £20 on a month for car tax.



There is nothing in the budget for household maintenance or for improvements? How much have you spent over the last year?
No the mtce on it was £30 for some roof tiles. My house was re-wired and replastered two years ago so hardly anything goes wrong. only thing I have not done this year is service the boiler which is ten years old.



I hope you do not mind the tough love, but as Happy point out, much of the time you are not budgetting MSE style.

If I budget any more I will not be able to do anything. Xmas I buy five presents for my daughter and that is it. I dont get presents off my parents so I dont buy them or my brother or sister, I use the spare money I have to give myself little treats.

Your car tax, petrol money to see your daughter and breakdown cover should never have been unavailable if you budget.

If you have read Martin's books you will have heard the story about his friend reeling from the impact of Chrsitmas because she had not put aside money to pay for it through the year?

You need to put the money for car tax, visiting your daughter, breakdown cover, clothing and entertainments/holidays aside in advance every payday, so that you can pay them when they happen. In time you should aim to include your house and contents insurance as well, because if you pay for the whole year, you get a cheaper deal.

Please understand I do not have a single holiday away, never go to cinema, clothing I buy cheap from primark. eg it was my birthday june and I had a spare £50 to get some new clothes. I needed them and they came first. not bought any since.

Right now, your dad is very ill, how much do you need to put aside each month to visit him?

He is at home now. Visited today only £2 in the car approx.

I note from other posts that you sometimes go away for the weekend. OK it is camping but you need to save a small amount, even £10 per month towards ents/holidays. Then you will have your petrol money when you need it.

I went to southport camping sat till sun, only cost me the petrol not far away. thats once a year. No saving needed for holidays as I cant afford them.

This may all sound all very anal but what it is about is getting in control of your money, so that you are not reeling from one crisis (not enough for tax) to another (not enough to pay the MOT and cover the trip to Chester) and being abkle to take advantage of deals (having £40 in the clothing budget to get a pair of shoes and a new bra in the sales).

Right now life is very much half empty and with what is going on re your dad, that is not surprising. But if you budget, it will be a lot less stressful.

Thanks for the input but a few years ago I always budgeted the same as I do now and had enough money to go away. So I know the answer is to get a job with more satisfaction and more money.

My mortgage I extended in april until dec then it goes back to normal 17 years. Its a short term thing. I am not worried about the mortgage, its always been a good deal with nationwide.

Butterfliesarepretty

RAS wrote: »

This is scary, how old will you be when it ends?

Its a short term thing.



Right now you need to sort out your other finances but this has to be a priority.



Hi you work 40 hours? or 37 and a half if you get lunch-breaks. I know you work long days but you do not work long hours.

they are long days and tiring for a 43 year old. I worked on flexi time in my last job for 22 years so it feels different to me.



Longer term that needs sorting out



What has to come out of that £30?
Go over to the old style forum and ask for help with menu planning, stardrops etc

I use stardrops etc, i have already done the menu planning, i buy practical foods that I can use, pasta, eggs, pastry, reduced meat, I dont eat a lot of meat so use tinned stuff too. fresh veg but at a decent price and use my calculator all the way through the shop and usually only spend £25.





Hi seeing your daughter is a priority. That means at the start of the month putting £20 into your budgetting account, so that you have the money available later in the month

yes it is a priority but i work one sat a month and sometimes she does not visit due to seeing friends. I have put £15 away in the piggy bank ready for that. I have just been given a free bike for her to use and come cycling on the cycling paths. I never take her out unless i can afford to and dont like spending on her as I already pay £130 a month and her dad does not give her spending money ready to spend when with me.

Butterfliesarepretty

Also pension to me is not a priority, as I intend to change jobs and the pension scheme at this place I do not trust.
I will take another pension out when I get a better prospects paid job. I have paid into my pension since I was 18 and the BT one was frozen in 2002. the other is frozen too as I left the outsourcing co in 2008. I also have abbey national account which is linked to the pension with BT for add vol contributions and that has over 3k in it and collects interest each year. I cant move it.

elfen

Everyone keeps telling you the same thing; you CAN get working person's tax credit as you are, essentially, low paid. I can understand the stigma of this ,but look at is as extra to tide you over until you get a better paid job, not long-term 'oh i have to rely on the social to get through'. You pay tax, you work hard, I 'd say you're entitled to it as you need the wiggle room or you will go under if something goes wrong (I know, I have been there and I'm still recovering) See WPTC as a stop-gap; this is how my mum and dad see it too.