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

[Deleted User]

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)- as another poster has suggested, check turntous.org.uk
Other income............................ 196.36 (Maintainence)
Total monthly income.................... 1233.5

Monthly Expense Details
Rent.................................... 297
Council tax............................. 102 (Waiting on discount to be applied)Ask if you can spred the payment over 12 instead of the usual 10 months
Electricity............................. 43
Gas..................................... 43 (Hopefully going down now summers here!)Check that you are on the cheapest tariff for your are - often online duel ffuel tariffs are cheapest (check somewhere like USwitch), and if cheaper to switch check cashback sites (like Quidco, onepollcash, topcashback) for incentives
Water rates............................. 21
Telephone (land line)................... 30.39 (Includes internet)we're with talk talk and home phone and internet is just a little over £20
Mobile phone............................ 85 (I know! but unfortunatley neither of us can break contract yet)Try and see is they will allow you to drop a tariff or two for now (when are you out of contract?) - when out of contract look at SIM only and PAYG deals - I have seen TESCO mobile have some great deals at the minute, but shop around when you're able to change
TV Licence.............................. 12.37
Satellite/Cable TV...................... 19.5 If out of contract cancel and go freeview/freesat - if not cut back to the minimum you can for now
Internet Services....................... 0
Groceries etc. ......................... 200 (Not happy with this, will be cutting down)- drop brands, meal plan, batch cook etc - check the old style board for help with this
Petrol/diesel........................... 170 (Unfortunatley can not get to work or supermarket without using the car) - Try and combine journeys where possible
Road tax................................ 14.17
Car Insurance........................... 23.14
Car maintenance (including MOT)......... 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) - will your OH get childcare vouchers as part of his works package when he starts there? It won't help now, but might be worth asking
Contents insurance...................... 13.32
Total monthly expenses.................. 1355.56

Assets
Car(s).................................. 1500
Total Assets............................ 1500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR What are the APR's? And are these the minimum payments?
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 I am sure that once your benefits are sorted then this will not be a problem - until then just make sure that you are on the cheapest tariffs for all your household bills and expenses.

As your OH will be in work soon,try and get your groceries down over the next month or two at least until his first pay comes through (living ultra frugally should be sufferable short term at least) - perhapse visit the old style board and list all that you have in your cupboards and they will help you to make the most of them (they really do have the ability to make lovely tasty meals from very few ingredients!!)

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

Hi,

made some comments above,

HTH

D9

Mimi_Arc_en_ciel

Domino9 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................ 667.51
Partners monthly income after tax....... 281.67 (Job seekers)
Benefits................................ 87.96 (Doesnt include WTC and CTC - being calculated)- as another poster has suggested, check turntous.org.uk ACCORDING TO THAT SITE WE'RE ONLY ENTITLED TO £42 A WEEK WHICH I KNOW ISNT RIGHT?
Other income............................ 196.36 (Maintainence)
Total monthly income.................... 1233.5

Monthly Expense Details
Rent.................................... 297
Council tax............................. 102 (Waiting on discount to be applied)Ask if you can spred the payment over 12 instead of the usual 10 months IDEALLY I COULD BUT TO BE HONEST ITS NICE HAVING THOSE 2 MONTHS "FREE"
Electricity............................. 43
Gas..................................... 43 (Hopefully going down now summers here!)Check that you are on the cheapest tariff for your are - often online duel ffuel tariffs are cheapest (check somewhere like USwitch), and if cheaper to switch check cashback sites (like Quidco, onepollcash, topcashback) for incentives I'VE ASKED OH TO LOOK INTO THIS. I'M SURE BRITISH GAS IS CHEAPER BUT IT CONFUSES ME
Water rates............................. 21
Telephone (land line)................... 30.39 (Includes internet)we're with talk talk and home phone and internet is just a little over £20 BECAUSE OF WHERE WE LIVE, NO MATTER WHO WE GO WITH WE STILL NEED TO HAVE THE BT LINE IT WAS £45, I GOT IT DOWN TO THIS BUT WILL PHONE THEM AGAIN - WORTH A TRY!
Mobile phone............................ 85 (I know! but unfortunatley neither of us can break contract yet)Try and see is they will allow you to drop a tariff or two for now (when are you out of contract?) - when out of contract look at SIM only and PAYG deals - I have seen TESCO mobile have some great deals at the minute, but shop around when you're able to change NOT OUT OF CONTRACT FOR ANOTHER YEAR (18 MONTH CONTRACT) WE'VE JUST DROPPED OUR TARIFFS - MY BILLS USED TO BE £70+ JUST FOR ME!! IM TERRIBLE ON MY MOBILE!
TV Licence.............................. 12.37
Satellite/Cable TV...................... 19.5 If out of contract cancel and go freeview/freesat - if not cut back to the minimum you can for now IM NOT SURE ABOUT THE CONTRACT - BUT £19.50 IS LOWEST THEY OFFERED ME - IS THERE A LOWER PACKAGE?
Internet Services....................... 0
Groceries etc. ......................... 200 (Not happy with this, will be cutting down)- drop brands, meal plan, batch cook etc - check the old style board for help with this THIS IS OH'S FAULT. HE USED TO WORK IN RESTAURANTS SO IS PICKY ABOUT FOOD! HE IS GETTING BETTER - BUT HE DOES LIKE HIS "NICE" FOOD. HE USED TO HATE WHEN WE LIVED APART BECAUSE I LIVED OFF FROZEN PIZZA'S LOL WE'RE GROWING OUR OWN VEGETABLES NOW AND I'VE JUST MADE HOME-MADE BREAD. IM NOT SURE WHAT OUR MONTHLY "EXPENSE" SHOULD BE SO NOT SURE WHAT TO AIM FOR?
Petrol/diesel........................... 170 (Unfortunatley can not get to work or supermarket without using the car) - Try and combine journeys where possible I USUALLY DONT MAKE THAT MANY JOURNEYS, ITS JUST THE LENGTH OF THE ONES IM CURRENTLY MAKING. WE GET PETROL SAME TIME AS SHOPPING. NOT REALLY MUCH I CAN CHANGE WITH FRIEND/WORK
Road tax................................ 14.17
Car Insurance........................... 23.14
Car maintenance (including MOT)......... 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) - will your OH get childcare vouchers as part of his works package when he starts there? It won't help now, but might be worth asking AFTER THE FIRSTYEAR HE IS - UNTIL THEN NO. I'M ENTITLED TO - WELL, IM MEANT TO BE. IM GOING TO SPEAK TO MY BOSS WHEN HE GETS BACK FROM HIS HOL (ALSO AFTER A CHEEKY PAY RISE!)
Contents insurance...................... 13.32
Total monthly expenses.................. 1355.56

Assets
Car(s).................................. 1500
Total Assets............................ 1500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR What are the APR's? And are these the minimum payments? NO IDEA OF APR - YES, THE FORM ASKED FOR MINIMUM PAYMENTS BUT I TRY AND PAY MORE IF I CAN
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 I am sure that once your benefits are sorted then this will not be a problem - until then just make sure that you are on the cheapest tariffs for all your household bills and expenses.

As your OH will be in work soon,try and get your groceries down over the next month or two at least until his first pay comes through (living ultra frugally should be sufferable short term at least) - perhapse visit the old style board and list all that you have in your cupboards and they will help you to make the most of them (they really do have the ability to make lovely tasty meals from very few ingredients!!)

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

Hi,

made some comments above,

HTH

D9

Hi - my replies are in blue capitals (sorry! not shouting!) just wanted them to stand out a bit better.

Thanks

x

Tixy

Regarding your groceries - perhaps try to aim for 160 this month? If you can do that you could then try dropping another 10 or 20 each month to see how low you can go without being miserable eating! I'd say 120 would be really good and 160 would be not bad if that helps give you an idea/target?
If trying the drop a brand challenge don't forget to do this for cleaning/toiletries as well as these are usually quite easy things to change without noticing much difference - eg puppy dog toilet rolls are not much different to the supermarket ones, the best cleaning liquids are not much better than stardrops or own brand for cleaning floors, work surfaces etc.

Mimi_Arc_en_ciel

To be honest - I havent brought cleaning products for a while, I have a huge stock lol Its mainly washing powder and fabric conditioner each month. OH LOVES scouring the reduced aisle - he calls it his "stig" aisle. I'm hoping he'll love his "new" challenge lol he's the one that sneaks in the muffins etc that i dont see until check out! Is there anything that we shouldnt ever down grade? (cant really think of anything but you never know!) I'll try £160 in April. Thanks!

Mandamoo_3

Hey mimi

good luck, I too have not long started and the grocery challenge is a way you really see some savings, However.......I will not downgrade on coffee, lifes too short for bad coffee

Good luck and keep smiling

Mandamoo

Mimi_Arc_en_ciel

ooo - i didnt even think about coffee!

Thanks for the reminder! x

Superbiatch

I've got sky basic package, broadband and phone (evening and weekends free) including my line rental for £31 a month. Sky use your BT line, but you pay Sky which is a tad cheaper than paying BT.

Regards to coffee, Asda currently have refill bags of Gold Blend for £2 (and Tetley teabags x 160 for £2 also)

Mandamoo_3

Trust me cheap coffee is better for cleaning toilets with oh and toilet roll I cannot be doing with the cheapy cheap but then I dont go for the puppies loo roll either.

Keep smiling

chrissie52

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.

Hi, just wanted to say your not stuck with BT, you can pay telephone line to Sky. I have a Sky package which is: Sky plus £20.50 ( I have bottom package plus one), Line rental £11.25, Sky talk £5.00 (most calls included but I don't call mobiles, 'cos they cost. ) Broadband is no charge ( as I have Sky talk ), has 2gb allowance per month which is plenty for me. So £36.75 per month, very rarely have to pay extra on that for phone calls. Also found they are OK for customer service.

Whoops! missed your post Superbiatch...doh!

Mimi_Arc_en_ciel

well we've been with BT since we moved in, which was about 2 years ago - but they're saying we are in contract because we changed our plan last year?

Is this right?