My SOA - any advice please?

CH27

Tink_04 wrote: »

EEEk no that must be a typo its only mortgage - dunno why that has appeared twice!!!!!
RAS id get nothing for not working as DH works we aparently ear too much for most benifits - this i would get £200 a month at the very most - if we were lucky (the way the system is changing i doubt we would get that!) plus when DD starts school i can work more and not have to find a job after being unemployed for x long!

You need to repost your SOA as that will make a massive difference.

Tink_04

OH *&^%£$£( that took me most of the day to make lol!!!

RAS

Tink_04 wrote: »

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................ 530
Partners monthly income after tax....... 950
Benefits................................ 500
Other income............................ 0
Total monthly income.................... 1980

Monthly Expense Details
Mortgage................................ 458
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 97
Electricity............................. 35
Gas..................................... 45
Oil..................................... 0
Water rates............................. 29.31
Telephone (land line)................... 11
Mobile phone............................ 51.7
TV Licence.............................. 12.37
Satellite/Cable TV...................... 55
Internet Services....................... 0
Groceries etc. ......................... 125
Clothing................................ 10
Petrol/diesel........................... 70
Road tax................................ 2.5
Car Insurance........................... 65.61
Car maintenance (including MOT)......... 9
Car parking............................. 0
Other travel............................ 46.5
Childcare/nursery....................... 470.8
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 8.99
Buildings insurance..................... 25
Contents insurance...................... 0
Life assurance ......................... 32.79
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1685.57


Assets
Cash.................................... 0
House value (Gross)..................... 85000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 87000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 90000....(458)......4.7
Total secured & HP debts...... 90000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................4500......159.2.....7.9
loan...........................2000......100.......7
Credit card....................1000......50........NaN
credit card....................1050......20........19.9
Total unsecured debts..........8550......329.2.....-


Monthly Budget Summary
Total monthly income.................... 1,980
Expenses (including HP & secured debts). 1685.57
Available for debt repayments........... 294.43
Monthly UNsecured debt repayments....... 329.2
Amount short for making debt repayments. - 34.77

Personal Balance Sheet Summary
Total assets (things you own)........... 87,000
Total HP & Secured debt................. -90,000
Total Unsecured debt.................... -8,550
Net Assets.............................. -11,550

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

reworked without the second housing cost.

That make a major difference.

If you reduce the phone and SKy, you are getting very close.

i thibnk your food budget is too low.

curlytop12

Tink_04 wrote: »

EEEk no that must be a typo its only mortgage - dunno why that has appeared twice!!!!!
RAS id get nothing for not working as DH works we aparently ear too much for most benifits - this i would get £200 a month at the very most - if we were lucky (the way the system is changing i doubt we would get that!) plus when DD starts school i can work more and not have to find a job after being unemployed for x long!

you don't have such a big shortfall then!mortgage is calculated twice-you are £548 better off!

RAS

Tink_04 wrote: »

OH *&^%£$£( that took me most of the day to make lol!!!

Hit the edit button and use the sums I have done above.

curlytop12

gem68 wrote: »

you don't have such a big shortfall then!mortgage is calculated twice-you are £548 better off!

cross-posted!

Tink_04

Hi ive just done another one on another post as i was confused!!!! dunno if i can merge them together now???

[Deleted User]

You are in a much better position than thought previously. You can easily make up the small shortfall, and even make a few further cutbacks to get yourself out of debt much sooner.

If you can reduce your mobile phones by £20, reduce SKY to minimum package (saving £25), you have made up the shortfall (without too much change), to overpay try any ensure that all the household utilities, bills and expenses are the cheapest available to you (electric, gas, insurances, etc) and hopefully you will have a bit extra (no matter how small) to over pay with. And make any additional payments you can to the CC that's charging you 19.9% (as this is costing you the most in interest).

HTH

D9

Tink_04

Thanks everyone im hoping i can use an account just for DD and bills and pay into it each month then use what is left for anything else ect think im getting more organised its taken me nearly a month to go through all our bills and am still in the process of moving money around thinks the SOA may need tweaking ove the next few months but all the big stuff is on here so onwards and upwards!!!!