New SOA what do you guys think ?

battyboimatt

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1115
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1115

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 30
Electricity............................. 20
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 150
Clothing................................ 20
Petrol/diesel........................... 200
Road tax................................ 20
Car Insurance........................... 50
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 8
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 998


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Various Debt...................24000.....800.......28
Total unsecured debts..........24000.....800.......-


Monthly Budget Summary
Total monthly income.................... 1,115
Expenses (including HP & secured debts). 998
Available for debt repayments........... 117
Monthly UNsecured debt repayments....... 800
Amount short for making debt repayments. -683

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -24,000
Net Assets.............................. -23,500

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Okay people, I need your help again, after negotioan and rejuggling does this seem fine to you or any areas you say I need to bump up. Thanks

battyboimatt

I should say out of the 3 adults, one does no pay anything as she is a house wife and has never worked since about the age of 16 so does not contribute anything and just recives and allowance from my dad as housekeeping. Thanks

Ineedaname

Forgive me if I'm remembering this wrong today. But you are paying your parents rent and these are your expenses towards the household costs? So no need to include 3 people in the house, only yourself, your income and your expenses.

I take it the car is yours?

Does your rent actually include bills or do you give your parents the money for bills separately? If included then don't list them separately. This includes internet services unless you pay for that for your own use and your parents don't use it at all.

Is the pet yours or your parents? Who is responsible for those costs?

Presents not allowed, put the figure in Holiday instead.

battyboimatt

Hi Indeedanme

I am paying board i live with my mam and dad and these are my costs towards the house, it was decided and discussed that to get me standing on my own to feet I should contribute to all bills, hence council tax and gas elc just as if i was renting my own place, the rent does not include bills hence why listed serperatly.

Yes the car is mine which i need for work etc, the internet is just mine, my dad uses it sometimes but its for the wii which i hope the OR wont be intrested in and for the household pc which im on most of the time.

Yes the cat is my companion no one else will have me so have to settle for the cat it was a rescue cat any more questions let me know.

Also I thought I had to declare three people in the household because there is, I cant just say there is me when two other people live there can I ?

dojoman

Hi, I didn`t want to read and run but whilst I generally have a reasonable understanding of SOA `s I am having difficulty with this one. If possible, it may be best if you could get an appointment with CAB and sit down with one if their advisors face to face and explain your position!

kepar

As stated on a previous post, as you are giving all this money to your parents I hope they are declaring it to the tax man. You are paying your parents £430 a month, the limit is £4250 a year or just over £354 a month before notifying the HMRC.

battyboimatt

Kepar, but im not giving them £430 a month, the £350 is for the board, the other is for the bills, I see the bills that come and my dad pays alot more than I contribute. So they are not keeping this money, with regards to HMRC i dont know im not my paretns, im just trying to pay my own fair way, if I had my own place it would be even more.

battyboimatt

Well I have decided not to post any more, all pay seem bothered about is are my paretns declaring the baord I pay them to the tax man, so much for support when people feel down, no wonder people top themselves over debt. So dont worry people you wont hear off me again, I'm leaving MSE for good.

dojoman

Please don`t give up on the board, it is supposed to be non judgemental ,but you will always get the odd person who does not try and help you, there are loads of genuine posters who will try and help if they can. That is why I suggested a face to face with CAB:)

tigerfeet2006

battyboimatt wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1115
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1115

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 30
Electricity............................. 20
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 20 Only allowed on the SoA if needed for work. Otherwise you will have to find it from surplus.
Groceries etc. ......................... 150 £200
Clothing................................ 20 £40
Petrol/diesel........................... 200 start keeping reciepts just in case the OR asks for proof.
Road tax................................ 20
Car Insurance........................... 50
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 8 £20
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5 not allowed
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0 £25
Emergency fund.......................... £10
Total monthly expenses.................. 998


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Various Debt...................24000.....800.......28
Total unsecured debts..........24000.....800.......-


Monthly Budget Summary
Total monthly income.................... 1,115
Expenses (including HP & secured debts). 998
Available for debt repayments........... 117
Monthly UNsecured debt repayments....... 800
Amount short for making debt repayments. -683

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -24,000
Net Assets.............................. -23,500

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

Okay people, I need your help again, after negotioan and rejuggling does this seem fine to you or any areas you say I need to bump up. Thanks

Have a play with those figures. Just make sure you balance.

JCS1

kepar wrote: »

As stated on a previous post, as you are giving all this money to your parents I hope they are declaring it to the tax man. You are paying your parents £430 a month, the limit is £4250 a year or just over £354 a month before notifying the HMRC.

This limits apply to letting room to a lodger under the HMRC scheme, not to a person paying board to parents.