My SOA please be kind!

Mumof2needshelp

Thanks! THis is just for me! my husband pays the rest of our bills

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 160
Total monthly income.................... 1210
Monthly Expense Details[/b]
Mortgage................................ 300
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 50
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 9
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 10
Satellite/Cable TV...................... 10
Internet Services....................... 10
Groceries etc. ......................... 100
Clothing................................ 30
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 80
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 30
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 10
Emergency fund.......................... 10
Total monthly expenses.................. 899

Assets
Cash.................................... 0
House value (Gross)..................... 166000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 168000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 144000...(300)......0
Total secured & HP debts...... 144000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Egg............................1700......66........0
Co-op..........................3500......76........0
Virgin.........................6200......200.......0
Mothercare.....................550.......22........0
Dorothy Perkins................450.......16........0
Halifax........................400.......20........0
Aqua...........................750.......30........0
Capital one....................2400......90........0
Tesco..........................2900......58........0
Total unsecured debts..........18850.....578.......-

Monthly Budget Summary
Total monthly income.................... 1,210
Expenses (including HP & secured debts). 899
Available for debt repayments........... 311
Monthly UNsecured debt repayments....... 578
Amount short for making debt repayments. -267
Personal Balance Sheet Summary
Total assets (things you own)........... 168,000
Total HP & Secured debt................. -144,000
Total Unsecured debt.................... -18,850
Net Assets.............................. 5,150

Tixy

Hi and welcome

Is your husband aware of all your debts? Have you also done a joint budget so that what you each contribute works out fairly compared to your incomes etc?
Are most of the household costs you have put in half of the total amount? its a bit difficult to judge if you can make savings without seeing the total cost.

Mumof2needshelp wrote: »

Thanks! THis is just for me! my husband pays the rest of our bills

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0 does your husband have the child benefit etc go into his account? have you looked to see if you can claim any tax credits?
Other income............................ 160
Total monthly income.................... 1210
Monthly Expense Details[/b]
Mortgage................................ 300 is this exactly half?
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 50 is this half?
Electricity............................. 20
Gas..................................... 20 have you tried shopping around recently to see you are with a cheap supplier and on a good tariff?
Oil..................................... 0
Water rates............................. 9
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 10
Satellite/Cable TV...................... 10 use freeview instead?
Internet Services....................... 10 look for a combined deal with phone & internet - should work out cheaper?
Groceries etc. ......................... 100
Clothing................................ 30 is this for just you or for the whole family?
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 10 is £120pa enough to cover servicing, MOT, new tyres etc?
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 80
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 10 do you check these at renewal time?
Life assurance ......................... 30 have you shopped around for this recently?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 10
Emergency fund.......................... 10
Total monthly expenses.................. 899

Assets
Cash.................................... 0
House value (Gross)..................... 166000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 168000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 144000...(300)......0
Total secured & HP debts...... 144000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Egg............................1700......66........0
Co-op..........................3500......76........0
Virgin.........................6200......200.......0
Mothercare.....................550.......22........0
Dorothy Perkins................450.......16........0
Halifax........................400.......20........0
Aqua...........................750.......30........0
Capital one....................2400......90........0
Tesco..........................2900......58........0
Total unsecured debts..........18850.....578.......-

Monthly Budget Summary
Total monthly income.................... 1,210
Expenses (including HP & secured debts). 899
Available for debt repayments........... 311
Monthly UNsecured debt repayments....... 578
Amount short for making debt repayments. -267
Personal Balance Sheet Summary
Total assets (things you own)........... 168,000
Total HP & Secured debt................. -144,000
Total Unsecured debt.................... -18,850
Net Assets.............................. 5,150

You need to find out all the APRs for your debts. What is your current position? are you up to date with minimum payments? have you had the £267 shortfall for sometime or have you had a change in circumstances recently?

You say your husband pays for the rest of the bills but you seem to have some cost allocated to most areas - what else is he paying for? does he earn a similar amount to you?

If we can understand your finances a bit better it will be easier to give you some tips and suggestions.