No money!!!!

sophiasmummy

Well here it is, I'm ready to answer questions!
Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1060
Benefits................................ 793
Other income............................ 0
Total monthly income.................... 1853

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 93
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 114
Electricity............................. 60
Gas..................................... 65
Oil..................................... 0
Water rates............................. 48
Telephone (land line)................... 12
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 45
Internet Services....................... 5
Groceries etc. ......................... 150
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1199


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


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 3019....(93)......31%.MINE updated
Total secured & HP debts...... 3534......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR

Welcome Loan...................8290......184.......MINE (Not sure about this-I haven't made a pmt since Oct 09 and have moved
so not heard from them. My experian report says balance £0, passed to outside agency last updated 02/01/2010. Was originally 48pmts @£184 and i made 4 pmts so just worked out a rough balance)

La Redoute Catalogue...........374.......0.........MINE
Lowell.........................323.......0.........MINE
Barclays Loan..................11500.....200.......PARTNERS
M&S Money......................11000.....300.......PARTNERS
Total unsecured debts..........31487.....684.......-


Monthly Budget Summary
Total monthly income.................... 1,853
Expenses (including HP & secured debts). 1,199
Available for debt repayments........... 654
Monthly UNsecured debt repayments....... 684
Amount short for making debt repayments. -30

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -3,534
Total Unsecured debt.................... -31,487
Net Assets.............................. -35,021

sophiasmummy

Thanks Dollybeads, I actually have masses of baby clothes but have agreed to split them between two friends that are expecting soon and I've said they don't need to give us any money! Think this may be why we are always poor. lol x

[Deleted User]

sophiasmummy wrote: »

Well here it is, I'm ready to answer questions!
Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1060
Benefits................................ 793
Other income............................ 0
Total monthly income.................... 1853

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 93
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 114
Electricity............................. 60 (this is high)
Gas..................................... 65 (this is also high - check on comparison sights that you are on the cheapest tariff )
Oil..................................... 0
Water rates............................. 48
Telephone (land line)................... 12
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 45 (can you cut this down or remove - it's very expensive)
Internet Services....................... 5
Groceries etc. ......................... 150
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 (maybe you should have something here)
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 (you definately need this)
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 0 (don't you spend anything here?)
Holiday................................. 0
Emergency fund.......................... 0 (perhapse start putting a little here)
Total monthly expenses.................. 1199


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0 (If you have a car it should be here)
Other assets............................ 0
Total Assets............................ 0


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 3534.....(93).......NaN (you should check what the APR is)
Total secured & HP debts...... 3534......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR (Again, you should check what the APR's are and once you are in a position to any over payments should be made to the debt that is charging you the most)
Welcome Loan...................8290......184.......NaN
La Redoute Catalogue...........374.......0.........NaN
Lowell.........................323.......0.........NaN
Barclays Loan..................11500.....200.......NaN
M&S Money......................11000.....300.......NaN
Total unsecured debts..........31487.....684.......-


Monthly Budget Summary
Total monthly income.................... 1,853
Expenses (including HP & secured debts). 1,199
Available for debt repayments........... 654
Monthly UNsecured debt repayments....... 684
Amount short for making debt repayments. -30

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -3,534
Total Unsecured debt.................... -31,487
Net Assets.............................. -35,021

It looks like you could break even if you make a few cutbacks - the most obvaious area to cut back on is Satelite/cable tv (SKY?). I've made some comments above for other things.

Hope it's of some help.

sophiasmummy

Hi thanks for your advice, the gas/elec is high. I am on a discounted rate with Scottish Power who i changed to in Oct. I missed Nov and Dec pmts to them so am paying off arrears..have been told its's the cheapest they can do and only if I stay until March 2012. Will be reviewed in 3 months.
Have literally just set up sky contract as I prevously had BT vision/BB/Landline and was costing over £100pm. The package is a bit higher because my partner HAS to have Sky sports. (I would have just bought a freeview box!)
The car is on a lease agreement so the payment leaves my partners wages before he is taxed, it is insured, taxed etc all we pay for is diesel.
Yes I agree we need contents insurance, will look into that and will try and find out the APR's on the debts.
I don't pay for prescriptions/dental care as I had my baby girl 5 months ago (free until she is one)
Never go out either due to reason above lol.
I am determined to get some savings together, am sick of days when we literally have no money and I get stressed out! I also want to be able to show my daughter a good example when she is older, I never want her to struggle with money as I have.
Thanks xx

MFWannabe

sophiasmummy wrote: »

Well here it is, I'm ready to answer questions!
Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1060
Benefits................................ 793
Other income............................ 0
Total monthly income.................... 1853

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 93
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 114 - See if you can pay over 12 months instead of 10
Electricity............................. 60 - you have stated this is high because of arrears
Gas..................................... 65 - you have stated this is high because of arrears
Oil..................................... 0
Water rates............................. 48
Telephone (land line)................... 12
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 45 -
Internet Services....................... 5
Groceries etc. ......................... 150
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 - check comparison sites and also go through a cashback site if you can; such as Quidco
Life assurance ......................... 0 - check comparison sites and also go through a cashback site if you can; such as Quidco
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1199


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


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 3534.....(93).......MINE
Total secured & HP debts...... 3534......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR

Welcome Loan...................8290......184.......MINE (Not sure about this-I haven't made a pmt since Oct 09 and have moved
so not heard from them. My experian report says balance £0, passed to outside agency last updated 02/01/2010. Was originally 48pmts @£184 and i made 4 pmts so just worked out a rough balance)

La Redoute Catalogue...........374.......0.........MINE - do you pay anything on this?
Lowell.........................323.......0.........MINE - do you pay anything on this?
Barclays Loan..................11500.....200.......PARTNERS
M&S Money......................11000.....300.......PARTNERS
Total unsecured debts..........31487.....684.......-


Monthly Budget Summary
Total monthly income.................... 1,853
Expenses (including HP & secured debts). 1,199
Available for debt repayments........... 654
Monthly UNsecured debt repayments....... 684
Amount short for making debt repayments. -30

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -3,534
Total Unsecured debt.................... -31,487
Net Assets.............................. -35,021

Hi
I've made some comments above; you might be able to make up the £30 shortfall with a squeeze; but you have a very tight budget.
Make sure you are getting all benefits you are entitled to as your partners income seems low. Is there any chance of overtime? Would he consider a second job? Especially if he 'has' to have luxuries such as sky sports; which really you cannot afford.

sophiasmummy

The situation is we are paying nothing towards our debts, obviously this cannot go on hence why I am on here. We have moved house and creditors don't know our new address so I need to contact them to advise them we have moved and to reinstate some form of payment to them. My partner is considering a 2nd job or looking for a better paid main job.
I did a debt remedy on CCCS and it recommended BR, this seems like a sensible option as I cannot see our income increasing significantly until my daughter is in school and our credit rating is !!!!!!ed anyway. Possibly BR for my partner and then sort out my debts as best we can?
I really appreciate your thoughts, thanks

bluejeans53

Hiya, I did not want to read and go.

I have been where you are, many many many times. At least all your bills are up to date (mine were not :eek:).

I pawned household items, with cash generator or similar, when I was was desperate for money. This is not an ideal situation but its an idea if things get real tight. At least You can get it back rather than sell it. They were gifts that I pawned, so needed to get them back, in case friends queried me not using them.

If you can borrow off family it is better, but I do understand you not wanting to do that. I had borrowed off family and friends. I hated it, every time I saw them I felt as if it was there righting the middle of us. I personal chose to pawn and pay the interest or roll it over, than have the feeling i had when facing people I owed money too.

I will keep an eye on you thread.....post everyday if you can, this is the best site on the net and the support is second to none. Usually someone can always see a way around something.

Good Luck

bluejeans53

whoops missed the post, that said you had borrowed from your mum. That is the best option, no interest to pay.

Roll on the 28th for you. Thats all I ever seemed to do, wish and wait for paydays to come around.

sophiasmummy

thanks bluejeans will keep you posted

dollybeads

sophiasmummy wrote: »

Thanks Dollybeads, I actually have masses of baby clothes but have agreed to split them between two friends that are expecting soon and I've said they don't need to give us any money! Think this may be why we are always poor. lol x

I know its not easy and quite embarrassing, but you could try to explain to your friends that money is very tight currently and unfortunately you now need to sell some of your things to raise a bit of money. It is hard, but you will be surprised at how understanding and sympathetic friends can be, and they will probably be in a similar boat so will understand. Even keeping some of the things to sell would be a help. I am always amazed at how fast baby things go. If your friends complain or are upset, perhaps that might tell you something about the friendship. Really good friends will understand and may even offer to help you at a car boot or similar.

Just a suggestion.

Keep your chin up Dolly x