Realistic figures for SOA - help

BB&B

Determined wrote: »

Question though, does the OR not get suspicious of SOAs that have an exact surplus of 0? Or is that just my suspicious mind lol??

Yes - people who work in the IS DO get suspicious of exact figures and especially figures that exactly match the cost of living figures.

When this happens the examiners look a LOT deeper, and it is normally these that get whole chunks cut from their allowable expenses!!

Everyone is different so an examiner sat with five files and all five have the same expenditure means the examiner is gonna have fun!

:cool:

Tim

mum2one

Determined wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 550
Partners monthly income after tax....... 1890 This is based on 70% of his income which I calculated as his proportion toward joint household expenses - is this right?
Benefits................................ 178
Other income............................ 300 - child maintenance
Total monthly income.................... 2918

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 1250
Management charge (leasehold property).. 0
Council tax............................. 179
Electricity............................. 55
Gas..................................... 85
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 27
Mobile phone............................ 22
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 50
Petrol/diesel........................... 200 - only my car not OHs
Road tax................................ 17.5 - this should have been £21
Car Insurance........................... 37
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 70
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 40
Total monthly expenses.................. 2860.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 700 - this is only my car not OHs
Other assets............................ 0
Total Assets............................ 700

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,918
Expenses (including HP & secured debts). 2,860.5
Available for debt repayments........... 57.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 57.5

Personal Balance Sheet Summary
Total assets (things you own)........... 700
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 700

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Hi

Sorry just noticed that you have not put anything in for presents? x

tigerfeet2006

Most OR's will not allow presents on your SoA. Odd one will but they are far and few between.