My SOA

david_hellier

Hi and well done on posting your SOA. According to my figures you are overspending by £81.03 per week. This excludes food and charities. In order to eat you need to earn an extra £100 to £130 per week. Could you take in a lodger? You are not in a position to give to charity. I note no water or car insurance in the figures.

You probably need a DMP through the CCCS. Alternatively maybe sell up, payoff and then rent. Stop using credit cards and never make the minimum repayments.

The figures are as follows, good luck:

income weekly monthly
self 1247.00
partner







total 0.00 1247.00 divided by 4.33
£287.77

£287.77 total weekly income

spend weekly monthly
rent/mortgage 355.81
council tax 55.00
elec 29.00
gas 16.60
water
secured loans 455.96
TV licence 10.99
fines
petrol 30.00
car tax 16.00
mot 3.30
mobile 10.00
landline 8.00
int 14.99
house ins 18.41
life 25.23
mbna 11.05
sains cc 109.40
bc 230.00
egg cc 198.40










total 0.00 1598.14 divided by 4.33
£368.80

£368.80 total weekly spend

Start= income - spend = -£81.03 per week

malvena_2

Thanks David

Think the time has come to be completely ruthless.

I am determined to beat this but at the moment it feels like my head is about to explode. It helps being on here though

M

itsarichmansworld

Malvena welcome and well done for making the right steps forward.

Lose the broadband try get a free one https://www.uswitch.com

I think you need to lose the charity payment too Charity begins at home and you need to look after yourself just now hun
Shop about for your h&c ins you could save some off that to

Best of luck

malvena_2

Thanks itsarichmanworld

Feels good to be here and not alone. some good advice on here.:T

Prudent

I think you are living as carefully as you can on the money. As op's have stated the only real saving (other than saving a little of gas /elec) is friends of the earth, and that is not significant. Tend to agree with pp that a lodger might be an option, or if you like your personal space, a second job.

Prudent

Just noticed internet. I pay £9.99 for aol broadband (though I know a lot of people don't like aol). The two savings together could give you an extra £10 per month.

chapmag

Hi M,

I used to "rent a room" from a family in SW1.

As I understood it they could rent out 1 room in their house to a non-family member for up to a set amount £275(?) per month without incurring Income Tax.

Could make a major difference to your situation!!

malvena_2

Once again thanks everyone.:beer:

I definately think the lodger is the only way to go. Every bit will help.

whatatwit

The tax allowance on the Rent-a-Room used to be equal to the basic Personal Allowance. Double check on the government web site, or phone your tax office, they used to do a leaflet on it.

Mics_chick

Don't know if you need any more furniture for you spare room but freecycle website might be a starting point?