Help & Advice Required

Bestthingsinlifearefree

Hi !

welcome to MSE you are in the right place for good free advice and support.

Read this link.

http://forums.moneysavingexpert.com/showthread.html?t=107280

and then post a statement of affairs (SOA).

That's the first step.

I_Know_I'm_Not_Alone

Okay, here's my SOA, which was done with the help of CCCS.

INCOME
Monthly Salary - £2444
Wife's Contribution - £177
TOTAL - £2,621

EXPENDITURE

Mortgage - £1053
Water - £32
Gas - £40
Electricity - £78
Building & Contents Insurance - £15
Home Phone/NTL package/mobile - £39
TV Licence - £11
Life Assurance - £26 (paying off mortgage if me or wife dies)
Spares/Servicing on car - £25
Road tax - £11
Car Insurance - £40
RAC breakdown cover - £10
Fuel & Parking - £250
Food/toiletries - £300
Meals at work - £43
Clothing and footwear - £52
Hairdressing - £15
Opticians - £18
Entertainment - £40
Childrens Pocket Money - £10
Emergencies - £20
TOTAL - £2,268

Available for creditors - £353p/m

lynzpower

is it just you and the wife at home? Or do you have kids?

I_Know_I'm_Not_Alone

Sorry, me and the wife, with a two year old son - own house.
Wife know about the debts but works part-time and her money goes on son's childcare.

biglad

sure others will help more, but your food seems high and surely the work meals could be cut.

could you shave your head like i did and do it yourself lol

lynzpower

OK

Mortgage - £1053 ( is this repayment)
Water - £32
Gas - £40
Electricity - £78 :eek: what!! are you paying off arrears? Look at https://www.saveenergy.co.uk get everytihng off at the wall you dont use, dont leave your mobile chargers plugged in, energy saving lightbulbs, use pan lids all the time and preserve energy, it saves a fortune!
Building & Contents Insurance - £15
Home Phone/NTL package/mobile - £39 ( can you break this down for us)
TV Licence - £11
Life Assurance - £26 (paying off mortgage if me or wife dies)
Spares/Servicing on car - £25 (does this go away every month- what APR is there on the account where this goes, how much is in there)
Road tax - £11
Car Insurance - £40 ( is this the cheapest? go via Quidco.com to get cashback on alternate insurers)
RAC breakdown cover - £10 ( do you NEED this)
Fuel & Parking - £250 ( this is a killer, do you absolutely HAVE to drive- its costing you well over 300a month, if not near on 350, would a train pass be cheaper? Do you do miles for work can you claim mileage back?)
Food/toiletries - £300 ( this can be halved, by savvy shopping, using vouchers and not wasting any thing, head over to the old style board)
Meals at work - £43 ( this can go take sarnies - or some other delicious food from home!)
Clothing and footwear - £52 ( you dont need all of this at the mo do you)
Hairdressing - £15 ( every month)
Opticians - £18 ( every month, is this contacts, you can probably get these cheaper asda is reported to be cheap)
Entertainment - £40 ( im sorry this could go too, do free stuff , parks picnics, free cinema tickets etc )
Childrens Pocket Money - £10( I thought your child is a toddler???)
Emergencies - £20 ( where is this saved? Whats the apr?)
TOTAL - £2,268

Just a few thoughts from me there

What have you got to sell kids cothes, maternity clothes, books, cds dvds? You can raise a LOT of money through car booting, ebay, amazon loot etc

All the best
lynz

I_Know_I'm_Not_Alone

The work meals are fairly high but I put that in as an estimation only - truth is, if I forget to make sandwiches, I just don't eat at work.

Food bills can be quite high, but the little man is still in nappies and he also only has soya milk as he has a lactose intolerance, so that costs me a bit! Again, I've merely estimated at this stage.

I_Know_I'm_Not_Alone

lynzpower wrote:

OK


Mortgage - £1053 ( is this repayment - yes, tied in to a fixed term at the mo, so can't chang this)
Water - £32
Gas - £40
Electricity - £78 :eek: what!! are you paying off arrears? Look at https://www.saveenergy.co.uk get everytihng off at the wall you dont use, dont leave your mobile chargers plugged in, energy saving lightbulbs, use pan lids all the time and preserve energy, it saves a fortune! Yes, £400 in arrears, but this is slowly being reduced.
Building & Contents Insurance - £15
Home Phone/NTL package/mobile - £39 ( can you break this down for us -) £25 package for phone & cable, calls on top.
TV Licence - £11
Life Assurance - £26 (paying off mortgage if me or wife dies)
Spares/Servicing on car - £25 (does this go away every month- what APR is there on the account where this goes, how much is in there)
Road tax - £11
Car Insurance - £40 ( is this the cheapest? go via Quidco.com to get cashback on alternate insurers) yes cheapest
RAC breakdown cover - £10 ( do you NEED this) - 9 yr old car, 114K miles, so I'd prefer to have it, yes.
Fuel & Parking - £250 ( this is a killer, do you absolutely HAVE to drive- its costing you well over 300a month, if not near on 350, would a train pass be cheaper? Do you do miles for work can you claim mileage back?) 60 miles round trip, public transport much longer and more expensive. I do need to consider getting a diesel car.
Food/toiletries - £300 ( this can be halved, by savvy shopping, using vouchers and not wasting any thing, head over to the old style board)
Meals at work - £43 ( this can go take sarnies - or some other delicious food from home!)
Clothing and footwear - £52 ( you dont need all of this at the mo do you) - for my son as well, who's growing all the time!!
Hairdressing - £15 ( every month) - for my son too
Opticians - £18 ( every month, is this contacts, you can probably get these cheaper asda is reported to be cheap) Will look into this - yes, contacts.
Entertainment - £40 ( im sorry this could go too, do free stuff , parks picnics, free cinema tickets etc )
Childrens Pocket Money - £10( I thought your child is a toddler???) Child Trust Fund top-up.
Emergencies - £20 ( where is this saved? Whats the apr?)
TOTAL - £2,268

Just a few thoughts from me there

What have you got to sell kids cothes, maternity clothes, books, cds dvds? You can raise a LOT of money through car booting, ebay, amazon loot etc

All the best
lynz

Thank - made a few comments and I know I need to be a bit more savvy!

beverleyhills

How much do you pay for Council Tax?

I_Know_I'm_Not_Alone

Oops, forgot that, it's £130.