Come on, sock it to me! S.O.A

Mimi_Arc_en_ciel

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................ 667.51
Partners monthly income after tax....... 281.67 (Job seekers)
Benefits................................ 87.96 (Doesnt include WTC and CTC - being calculated)
Other income............................ 196.36 (Maintainence)
Total monthly income.................... 1233.5
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 297
Management charge (leasehold property).. 0
Council tax............................. 102 (Waiting on discount to be applied)
Electricity............................. 43
Gas..................................... 43 (Hopefully going down now summers here!)
Oil..................................... 0
Water rates............................. 21
Telephone (land line)................... 30.39 (Includes internet)
Mobile phone............................ 85 (I know! but unfortunatley neither of us can break contract yet)
TV Licence.............................. 12.37
Satellite/Cable TV...................... 19.5
Internet Services....................... 0
Groceries etc. ......................... 200 (Not happy with this, will be cutting down)
Clothing................................ 0
Petrol/diesel........................... 170 (Unfortunatley can not get to work or supermarket without using the car)
Road tax................................ 14.17
Car Insurance........................... 23.14
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 281.67 (OH is not working but is due to start mid apr. Trying to keep DD in nursery otherwise she'll lose her placement and I wont have the childcare there for me to go to work when OHn is no longer around to babysit)
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 13.32
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1355.56

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Next...........................388.......36.55.....0
Studio.........................173.94....10.73.....0
Dad............................900.......0.........0
Total unsecured debts..........1461.94...47.28.....-

Monthly Budget Summary
Total monthly income.................... 1,233.5
Expenses (including HP & secured debts). 1,355.56
Available for debt repayments........... -122.06
Monthly UNsecured debt repayments....... 47.28
Amount short for making debt repayments. -169.34
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,461.94
Net Assets.............................. 38.06
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Added a few bits of info - Go on, give me hell !

Tixy

Well obviously it looks like you have a big shortfall at the moment but when do you hope to have info on what tax credits you will get? is this likely to cover your shortfall?
How much will OH be earning from april - again will that cover the shortfall?

Your expenses don't look too bad, but if you want to work on cutting them down.

Electricity............................. 43 is this just the estimated split between elec & gas? cos it looks very high for elec. Might be worth shopping around to see if you can find a cheaper supplier or a better tariff with your existing supplier?
Gas..................................... 43 (Hopefully going down now summers here!)
Telephone (land line)................... 30.39 (Includes internet) possibly can get a little cheaper incl internet - I think they start around £25 if you happen to live in the right area, but doesn't seem bad price
Mobile phone............................ 85 (I know! but unfortunatley neither of us can break contract yet) have you tried asking if you can drop down a tariff with either (or both)?
TV Licence.............................. 12.37
Satellite/Cable TV...................... 19.5 consider stopping (or threatening to stop and trying to get a half price deal?)
Internet Services....................... 0
Groceries etc. ......................... 200 (Not happy with this, will be cutting down)
Clothing................................ 0
Petrol/diesel........................... 170 (Unfortunatley can not get to work or supermarket without using the car) do you drive 'efficently' (slow and boring!) - there is an article here, maybe some of those tips would be useful? Cheap Petrol & Diesel

Car maintenance (including MOT)......... 0 probably need to budget for this for servicing, mot, new tyres etc)

Presents (birthday, christmas etc)...... 0 might need to budget for these items
Haircuts................................ 0
Entertainment........................... 0

RAS

can you use www.turn2us.org.uk to estimate what benefits you will get?

Mimi_Arc_en_ciel

Thank you for the reply.

OH is currently on Job seekers. He's been offered a job but needs to have a CRB etc so although he knows he's passed it and got the job I dont want to reply on it.

When he starts work he'll be on £18k p.a (Plus bonuses) before deductions.

Tax credits. Thats been fun today! They had our household income as £19,500 EXTRA than what it was so have actually been under paying us, BUT currently the system is showing they have overpaid us so they've stopped everything to assess it. They said it should be "a few days to a few weeks, there's no official time limit" :eek:
Hopefully - fingers crossed - should be sorted!

Council - They have everything they need, just dragging their heels. They said that we'll pay £79 council tax instead of current figure and will get help paying rent but can't tell me an amount.

The electric and gas - We put on average £10 on each meter every week. I didnt like the direct debit way of paying - we got in trouble last time so prefer the meter. Last i checked we was on the right tariff but will look again.

Telephone - it's come down a little, was £45. We actually live in a small village where ther is no fibre optic cables so if we changed company we would still have to pay BT

Sky - It's already discounted, threatened to leave in Dec and they knocked it down to £19.50 (basic package) I would get rid of sky as we dont generally watch channels that arent on freeview but rely heavily on sky plus.

Mobile Phone - I have just changed tariff. At the moment we get inc texts, 50 pics, 600 mins and unlimited net and they're insured for £36 each. We do use ALOT of mintutes and texts to keep in touch with family and friends.

Petrol - I do actually drive slow I fill the petrol tank once a week - usually its anything between £30 and £50. I can normally get 400 miles out of the tank. i go to work 3 days a week which is 120 miles. Shopping is approx 20 miles but then I visit my friend in Birmingham once a month, she has huntington's - is in a are home and has no family. There's only me and one other friend who visit her so can't really stop those visits. Ther's nothing in the boot of the car, I dont sped, dont break harshly if I can help it but dont coast.

MOT. I'm really lucky that my dad and best friend are mechanics. I only ever pay for parts and this is at lower price. :T MOT itself. never put money away for this - I just pay when its ready. Car sailed through MOT this year, no advisoriers! (spelling!):T:T

Presents - Well, OH has just celebrated his Birthday (big 3-0) so we went away for the weekend. DD's birthday isnt until Sept. What I normally do is any change in my purse goes in a tin, this gets used for birthday. I have already brought xmas presents (jan sales!) and only need to buy the "big" present nearer the time but she'll be 4 this year so its not too bad, Rest can go whistle - if i cant afford it i cant afford it lol

My friend cuts mine and DD's hair as and when neded - normally once every few months. OH can make do with a bowl! hehe

To be fair - the tax credit and council tax have hiccuped me this month. I was relying on the payments so am now panicing. We aren't getting help for DD's nursery as obviously OH isnt at work right now but i'm trying to pay it as I dont want her to lose her place. Hopefully, when he goes back to work it'll all settle down again.

dancingfairy

Hmm it's difficult to tell with out all the figures but it sounds like it might just be a temporary hiccup then.
Suggestions:
1) have a clear out/car boot/ebay
2) borrow more from your dad
3) see if you can do a storecupboard challenge and stretch things as far as humanly possible.
4) hassle the council and benefits people to get things sorted as soon as possible.
5) try and shuffle payments- ie pay them later in the month or even pay half - I don't know if the nursery will wait if you explain or will accept sort of half now, half later?

Hopefully you will get over this and can get back on an even keel.
df

d-van

Hi,
I can't comment on anything else but you said that :

Mobile Phone - I have just changed tariff. At the moment we get inc texts, 50 pics, 600 mins and unlimited net and they're insured for £36 each. We do use ALOT of mintutes and texts to keep in touch with family and friends.

That seems a lot to be paying for your mobile. I've got O2 Pay as you go Unlimited texts, 600 minutes and internet for £15 a month. No picture messages included but i find it's more than enough allowance. You might want to consider it, it doesn't tie you down

dancingfairy

Woa - that was harsh Hannah. Shred it to bits there why don't you.
Let's hope Mimi takes it in good spirit and the manner in which it was no doubt intended.
Mimi - don't forget you may be eligible with council tax benefit?
df

Hannah_10

dancingfairy wrote: »

Woa - that was harsh Hannah. Shred it to bits there why don't you.

Bloody hell, seriously? :eek:

I thought I was just being thorough. I actually put several categories UP. Forget it. I've deleted it.

God, what is it about me. I either get PM's telling me how nice/considerate/understanding I am, or people posting on the board to say what a cow!

I'm logging off and walking away for a few days. I was trying to help. Obviously no one believes this.

Mimi_Arc_en_ciel

dancingfairy wrote: »

Hmm it's difficult to tell with out all the figures but it sounds like it might just be a temporary hiccup then.
Suggestions:
1) have a clear out/car boot/ebay Done this lol have £74 in paypal but dont want to transfer money until they have left positive feedback.
2) borrow more from your dad dont really want to do this if i can help it
3) see if you can do a storecupboard challenge and stretch things as far as humanly possible. lol I said same to OH an hour ago!
4) hassle the council and benefits people to get things sorted as soon as possible. Done this today - will start again tomorrow!
5) try and shuffle payments- ie pay them later in the month or even pay half - I don't know if the nursery will wait if you explain or will accept sort of half now, half later? Im going to try and pay everything in full. will borrrow money off dad after doing everything i can then I only owe 1 person if that makes sense.

Hopefully you will get over this and can get back on an even keel.
df

d-van wrote: »

Hi,
I can't comment on anything else but you said that :

Mobile Phone - I have just changed tariff. At the moment we get inc texts, 50 pics, 600 mins and unlimited net and they're insured for £36 each. We do use ALOT of mintutes and texts to keep in touch with family and friends.

That seems a lot to be paying for your mobile. I've got O2 Pay as you go Unlimited texts, 600 minutes and internet for £15 a month. No picture messages included but i find it's more than enough allowance. You might want to consider it, it doesn't tie you down

But wouldnt i have to pay rest of the contract with Orange?

Hannah_10 wrote: »

Bloody hell, seriously? :eek:

I thought I was just being thorough. I actually put several categories UP. Forget it. I've deleted it.

God, what is it about me. I either get PM's telling me how nice/considerate/understanding I am, or people posting on the board to say what a cow!

I'm logging off and walking away for a few days. I was trying to help. Obviously no one believes this.

Hannah - please dont, I'm pretty thick skinned, i dont mind the harshness

crafty*kate

Hello mimi...I don't normally comment on people's SOAs but I had a thought as I was reading yours...if you use your Sky mostly for Sky+, might it be worth getting a Freeview box that can record? (I think it's called Freeview+?) I used to have one of these and it was brilliant for pausing programmes or recording them.

Also - check if your mobile phone is covered on your home contents insurance, because you are paying for insurance separately on your phone.

Kate x

Mimi_Arc_en_ciel

Hi - Thanks for that Kate. At the moment I cant afford the freeview box but when im back on my feet i'll buy one. Didnt know you could record!

(Am actually baking my own flipping bread rather than go and spend £2 at shop lol)

Mobile isnt covered in insurance for accidental cover - To be honest this is the first year i've insured my contents so wanted to keep costs down. Will add accidental cover in renewal in June.