Sparkerly's SOA

pleasedelete

Apologies if you are offended.

I wasn't intentionally being negative . I was trying to be honest and state the obvious. I only saw the first brief mention of looking for a job- no mention of rejections etc.

Whatever else these boards may offer they have to offer honesty and people looking at what is posted from an objective viewpoint. Isn't that why we all ask for advice?

Lots of people have both partners working full time and still can't make ends meet. They have few options. You are lucky- you have the option of increasing your income as a way to make ends meet.

I hope that you get a job soon. I wasn't suggesting a minimum wage job- just that sometimes we have to take jobs that wouldn't be our 1st choice for the bigger good.

Sparkerly

Thank you for the apology. Yes I did come here for honesty and know that I am in a lucky position of being able to increase my income, but I was in the situation that I needed help now in the short-term until I was able to get a job. I know that working is going to make a huge difference to our situation, and I will find something.

beanielou

You are off to a flying start.
Keep plodding & keep posting.
Wishing you lots of positive vibes for your job hunting.

snookey

Hi how about working from home. Lots of companies look for people to do data input ect. Maybe an idea.

Swans1912

Your 1st SOA states roughly £1700ish mortgage but the second states on £700ish?

binnie

Thats what I thought. I'm confused with those figures too.

binnie

It is very hard to get a job, I understand. I've been unemployed since January and have applied for well over 60 jobs, but out of them, I have had about three interviews. They all say how good I am, and my personality is good, but then they give the job to someone else.
I'm now just working for an agency, but sometimes only get work one day a week. It is very hard out there. Jobs aren't that easy to get anymore. I have applied for all diffferent kinds, from office work, shop work to cleaning. Everybody seems to be going for the jobs I go for, and they are only minimum wage.
I wish you luck in finding a job, and hope your finances get easier. We are in the same boat, but my husband doesn't earn that amount yours does, but don't we all live beyound our means?
All the best. xxx

mum2one

Sparkerly wrote: »

Using the link provided, here is my updated SOA - very scary reading.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 4501
Benefits................................ 0
Other income............................ 115
Total monthly income.................... 4616
Monthly Expense Details
Mortgage................................ 788
Secured/HP loan repayments.............. 1382.1
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 42
Electricity............................. 78 - those lot better
Gas..................................... 79
Oil..................................... 0
Water rates............................. 29.36
Telephone (land line)................... 12.5
Mobile phone............................ 20.58
TV Licence.............................. 12.37
Satellite/Cable TV...................... 63.83 - sorry this still needs dealing with
Internet Services....................... 18.53
Groceries etc. ......................... 450 - try to reduce it, even if you aim for £50 for the 1st month, - downgrade a brand, - if you go shopping the same day of the week, - move it forward by 1 day each week, so at the end of 8 weeks, you've saved a weeks grocery money
Clothing................................ 50
Petrol/diesel........................... 20
Road tax................................ 0
Car Insurance........................... 16.25
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 145
Medical (prescriptions, dentist etc).... 45
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 15
Life assurance ......................... 323.27 - can you see if you can twiddle any figures here.
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 45 - could you stretch out the hair cuts to say 6 weeks, over 3 months save £45.
Entertainment........................... 289 - sorry thats a major reduction, needs to be at least half.
Holiday................................. 0
Emergency fund.......................... 0
School fees............................. 725.5
Total monthly expenses.................. 4715.29

Assets
Cash.................................... 0
House value (Gross)..................... 450000
Shares and bonds........................ 5000
Car(s).................................. 2000
Other assets............................ 3500
Total Assets............................ 460500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 132345...(788)......0
Secured Debt.................. 12255....(322.5)....0
Hire Purchase (HP) debt ...... 3242.62..(117.6)....0<
Mortgage (2)...................215256...(942)......0
Total secured & HP debts...... 363098.6.-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
HSBC CC (self).................4868......120.......11.9
HSBC CC (OH)...................7374......180.......11.9
HSBC OD........................5000......0.........11.9
First Direct OD................1000......0.........14.85
Total unsecured debts..........18242.....300.......-

Monthly Budget Summary
Total monthly income.................... 4,616
Expenses (including HP & secured debts). 4,715.29
Available for debt repayments........... -99.29
Monthly UNsecured debt repayments....... 300
Amount short for making debt repayments. -399.29
Personal Balance Sheet Summary
Total assets (things you own)........... 460,500
Total HP & Secured debt................. -363,098.62
Total Unsecured debt.................... -18,242
Net Assets.............................. 79,159.38
Reproduced on Moneysavingexpert with permission, using IE browser.[/i]

Still got to find out my APRs for one of the loans and the mortgages.

My OH does make a bit extra money by DJ-ing, but as its not regular I have not included it.

Going to show this to OH tonight over a glass of wine and TELL him we are cancelling a few things!

Ok, its better than the original one, and you've done some brilliant cost cutting, but for the moment it needs to be drastic measures, even just short term.

Need to find £400 pm.
Entertainment (was £289) needs to be £140 - saves £149
Sky - (63.83) even half is being generous £30 - save £33
Haircuts (£45) needs to be £30 - save £15
Groceries (£450) start at £400 - save £50
Th
THats £250 saved with a few strokes of the pen as they say. Ok that leaves £150 pm, -
Ebay, boot sales, consider some mystery shopping, surveys, clicks. Every extra penny will help.
x

mum2one

Apologies, just caught up with the rest of the thread, that is brilliant news with all the changes, and that you now have OH on board, what I would suggest is get a notebook and put in the SOA that you have done, from the start, and redo a new one showing all the differences, - by having it wrote in a book it will motivate you both, as he will be able to part of it, (even thou u've done all the chopping and changing)

List your outgoings, I'd also suggest a once a month review, not a heavy going discussion, more a chat over a glass of wine, and you can check, the figures, it may not be the 1st month, but maybe the 2nd your find that there is a "free amount" and yes whilst it should be going on the debts, maybe once in a blue moon use that as a treat, I know it may seem like the carrot and the donkey, but what ever method works.

Good luck, be following your diary, (if u don't mind)xx

NeverAgain_2

...Your 1st SOA states roughly £1700ish mortgage but the second states on £700ish?...Thats what I thought. I'm confused with those figures too...

Both of the OP's budgets show a total of about £2,000 for secured loan repayments.

The second one divides this into two mortgages and a secured loan, but the totals are the same, so the budgets do agree.