where do i start? help please?

djdido2

hi there


i have been meaning to try and get my finances sorted for quite a while. i am in such a tizzy i don't even no where to start.

tried doing the SOA but as i am inbetween buying a house and living in rented accomodation i don't know how to work things out. got my wits about me but i just get confused with it all.

i dont have any debts but have two bank loans and i am working and in receipt of wtc/ctc!

any help just to make a start would be very much appreciated.

cheers

d:o

yung

well you just need to try and post a rough S.O.A of your income and expenditure. then the good folks can help you

moozie_2

Hey djdido2 and welcome!

I guess the easist thing to do would be to list everything that has come in and gone out of your bank account(s) over the last month. That will give you an idea of your position. Then when you move, you can update the figures with the changed ones.

This comment is interesting

djdido2 wrote:

i dont have any debts but have two bank loans

Loans are debts, aren't they?

Southerscouser's sticky at the top of the forum is a great help for putting an soa together. Take a look

CLAPTON

remind us about yourself...OH, children?

tells us your (family) income

tells us what you think you will be spending in the new house, yes somethings will need to be estimated but some will be similar to when you rented...so food, travelling, socialising, mobiles, work expenses, should be pretty similar, but mortgage, utilities etc will need estimating,
make sure you include all the 'new costs' of the house...redecorating, furniture, white goods etc.
also make sure you include everything you will spend over the next 12 months (divide all the yearly things by 12 and include in the monthly budget) ...so any holidays planned, clothes, presents, xmas, and annual car type costs etc .



you say you have no debts but only two loans...now what does that mean? anyway tell us what the debts/loans are, what the APRs are and how much the monthly repayments

even better if you can total your inocme, total your spending and total the debts and debt repayments.

djdido2

yeah sorry i know they are debts. no oh. been saving every last penny towards my mortgage deposit so been avoiding spending. i will try tackle SOA and if i get stuck i will ask for help.

thanks for your help and support.

djdido2

didn't explain myself very well i meant i dont have any debt apart from the two bank loans.

i'll do the SOA lol!

i'll be back.

thanks