My SOA

davidjwest

I've posted my SOA before but no harm having a review every so often, any thoughts?

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2210
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 50 (Websites)
Total monthly income.................... 2260

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 35
Gas..................................... 54
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 33 (includes Internet and TV)
Mobile phone............................ 22 (PAYG)
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15 (Webhosting, my sites generate more than this in income)
Groceries etc. ......................... 345
Clothing................................ 20
Petrol/diesel........................... 275 (long commute, this should be coming down as I am car sharing next month)
Road tax................................ 13
Car Insurance........................... 25
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 5
Childcare/nursery....................... 40
Other child related expenses............ 303 (maintenance)
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 6
Contents insurance...................... 6
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 35
Holiday................................. 25
Emergency fund.......................... 20
Total monthly expenses.................. 1442


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
Credit Cards...................25899.....360.......0 - creditors current freezing interest and taking reduce payments
Total unsecured debts..........25899.....360.......-


Monthly Budget Summary
Total monthly income.................... 2,210
Expenses (including HP & secured debts). 1,442
Available for debt repayments........... 768
Monthly UNsecured debt repayments....... 360
Amount left after debt repayments....... 458

Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -25,899
Net Assets.............................. -24,399

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

It certainly doesn't feel like I have £458 "spare" every month but it has been tough recently with court fees (getting divorced and sorting out contact with children) and the boiler has also just broken down too!

Thanks for any ideas!

Dharma_Bunny

Mortgage/rent?

What about benefits?

davidjwest

No benefits, mortgage or rent.

Dharma_Bunny

What about Child Benefit?

davidjwest

My ex-wife gets that.

Dharma_Bunny

SOA says 4 children in household, are they the ones with your ex-wife?

davidjwest

No, my partner has 3 children who live with us most of the time, my 2 stay with me about a third of the time so I put it as being 4 children to avoid complication.

Dharma_Bunny

HAve you not included your partners income/benefits in your SOA?

davidjwest

No - I pay the bills and she pays the mortgage etc, we've no joint accounts as my credit rating would affect hers adversly if we did. So the SOA is just for me.

CH27

Keep a detailed spending diary for a month & you will soon see where the cash is frittered away.

Dharma_Bunny

Ah, that makes sense now.

Tbh, it doesn't look that bad, so keeping a strict spending diary to check where the spare is going would seem necessary to me.