Firstbuy, I don't understand it

Flibsey

no. where we live right now is not our choice we're stuck here basically. there is literally nothing in walking distance of my daughter's school... Like I mentioned, I can't work due to illness. I also can't drive for the same reason and am not willing to mess up her life and potentially harm her education by changing schools and then possibly having to change again when we finally get a council place.
No. Wait. Tell a lie. I checked again. there's one rental flat available in the area we'd need. same price as this house; so we'd have to find a deposit and first month's rent (and no, getting our deposit back off this landlord will not be easy. we've not mistreated the house in any way, but he WILL stall us at every opportunity). the flat is in a high rise block so we'd lose the garden too. No lifts either, so that's it out for me as well. and although we don't have official parking here, there is not enough road space aorund those flats to guarantee a space... we do have a car, I can't drive it. it's hubby's for commuting.

I'm not asking you to find me an option. all I asked for originally was information on the firstybuy scheme.

poppysarah

Flibsey wrote: »

I agree with poppysarah.



Can I please have a house that's not mouldy? with some insulation and windows that don't whistle in the wind? can I please have a house where the person who owns it actually does something to maintain the place and doesn't demand exthortionate amounts of money for a place he's basically ignoring? somewhere where PERHAPS we'd not have to fight tooth and nail and threaten legal action if something safety critical goes wrong? perhaps even somewhere we couldn't be chucked out of with a couple of month's notice if we happen to annoy the landlord? maybe? please?

There's a local landlord here who has serious ongoing issues with properties being damp, poorly insulated and badly maintained.
He charges more than average but because they're on nice streets people are reluctant to complain EVEN when it puts their family's health at risk.


It should be easier to get landlords to do neccessary work.

Flibsey

yes it should! we're lucky I suppose, there are things we can do like hold most of the mould at bay with polycell mould remover (I need shares in that company!), put tape over the windows etc but the thing is that we shouldn't HAVE to.

mildred1978

Flibsey wrote: »

no. where we live right now is not our choice we're stuck here basically. there is literally nothing in walking distance of my daughter's school... Like I mentioned, I can't work due to illness. I also can't drive for the same reason and am not willing to mess up her life and potentially harm her education by changing schools and then possibly having to change again when we finally get a council place.
No. Wait. Tell a lie. I checked again. there's one rental flat available in the area we'd need. same price as this house; so we'd have to find a deposit and first month's rent (and no, getting our deposit back off this landlord will not be easy. we've not mistreated the house in any way, but he WILL stall us at every opportunity). the flat is in a high rise block so we'd lose the garden too. No lifts either, so that's it out for me as well. and although we don't have official parking here, there is not enough road space aorund those flats to guarantee a space... we do have a car, I can't drive it. it's hubby's for commuting.

I'm not asking you to find me an option. all I asked for originally was information on the firstybuy scheme.

Post up an SOA - people on here are brilliant at finding ways to save money.

Flibsey

what's an SOA please? still kind of new to MSE lol.

mildred1978

Flibsey wrote: »

what's an SOA please? still kind of new to MSE lol.

Statement of affairs. Shows what you have coming in and what goes out.

http://www.makesenseofcards.com/soacalc.html

Just make sure you use the "MSE" button at the end.

Flibsey

ok, well here's the breakdown...

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................ 0
Partners monthly income after tax....... 1833
Benefits................................ 120
Other income............................ 0
Total monthly income.................... 1953

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 700
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 60
Gas..................................... 60
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 19.22
Mobile phone............................ 35
TV Licence.............................. 15
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 50
Petrol/diesel........................... 300
Road tax................................ 15
Car Insurance........................... 41
Car maintenance (including MOT)......... 100
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 11
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 10
Entertainment........................... 13.75
Holiday................................. 0
Emergency fund.......................... 0
unsecured loan.......................... 140
Total monthly expenses.................. 2054.97


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 800
Total Assets............................ 2300

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................300.......8.........15
Total unsecured debts..........300.......8.........-


Monthly Budget Summary
Total monthly income.................... 1,953
Expenses (including HP & secured debts). 2,054.97
Available for debt repayments........... -101.97
Monthly UNsecured debt repayments....... 8
Amount short for making debt repayments. -109.97

Personal Balance Sheet Summary
Total assets (things you own)........... 2,300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -300
Net Assets.............................. 2,000

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

I added the loan repayment onto the household payments rather than an extra debt because it's a fixed payment per month and if we repaid to change to another company, we'd be in for some hefty costs.

our supermarket bills have dropped dramatically in the last month since I've been MSEing it and taking charge rather than wandering aimlessly. Have taken to shopping online for food recently because I don't overspend on crap like donuts.

not added an internet cost as it's included in the home phone costs (another MSE triumph there, the call your current company and complain advice lol)

the £120 benefits is child benefit and tax credits. we don't get anything else and arn't eligible. I had to guess car maintenance, and also card costs because although it's currently £300, we pay it off in full every month and then start again; so we're always behind.

mildred1978

Flibsey wrote: »

ok, well here's the breakdown...

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................ 0
Partners monthly income after tax....... 1833
Benefits................................ 120
Other income............................ 0
Total monthly income.................... 1953

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 700
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 60 this seems high
Gas..................................... 60 this seems high
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 19.22
Mobile phone............................ 35 could you swap for cheaper contracts?
TV Licence.............................. 15
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250 £200 should be plenty for 3 of you
Clothing................................ 50 do you really need these every month?
Petrol/diesel........................... 300 how many miles do you get for that?
Road tax................................ 15
Car Insurance........................... 41
Car maintenance (including MOT)......... 100 surely not right. £1200 maintenance per year on a £1500 car?
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 50 what is this?
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 11
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 10
Entertainment........................... 13.75 what is this?
Holiday................................. 0
Emergency fund.......................... 0
unsecured loan.......................... 140
Total monthly expenses.................. 2054.97


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 800
Total Assets............................ 2300

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................300.......8.........15
Total unsecured debts..........300.......8.........-


Monthly Budget Summary
Total monthly income.................... 1,953
Expenses (including HP & secured debts). 2,054.97
Available for debt repayments........... -101.97
Monthly UNsecured debt repayments....... 8
Amount short for making debt repayments. -109.97

Personal Balance Sheet Summary
Total assets (things you own)........... 2,300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -300
Net Assets.............................. 2,000

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

I added the loan repayment onto the household payments rather than an extra debt because it's a fixed payment per month and if we repaid to change to another company, we'd be in for some hefty costs.

our supermarket bills have dropped dramatically in the last month since I've been MSEing it and taking charge rather than wandering aimlessly. Have taken to shopping online for food recently because I don't overspend on crap like donuts.

not added an internet cost as it's included in the home phone costs (another MSE triumph there, the call your current company and complain advice lol)

the £120 benefits is child benefit and tax credits. we don't get anything else and arn't eligible. I had to guess car maintenance, and also card costs because although it's currently £300, we pay it off in full every month and then start again; so we're always behind.

Comments in purple

Svenena

If this SOA is accurate, you're in serious trouble, as your outgoings are higher than your incomings. This means you will get into more and more debt with every month that passes. I would recommend posting this on the Debt-Free Wannabee board for some advice, before things get worse.

Flibsey

the £50 child expenses are school sundries; trips,other things the school demands donations for, the occasional school dinner. this WILL be changing. as she doesn't need the school dinners.

£13.75 is how much it costs for me to take sophie to the cinema on a cheap day. we dont do this every month but i thought it best to put it in here.

supermarket shopping: not as high as it used to be, but is still high. unfortunately the supermarkets like to hike things like specialist foods... we're a lactose free household, so have to pretty much go dairy free on some things. but since making proper meal plans, writing lists an doing the shopping online it's been so much better.

the £1200 maintenance on the car was based on the last year; a lot of catastrophic things happened to the poor volvo including the front wheel coming off, shirring off the bottom swivel, part of the suspension, brake line, aircon, knackering the tyre and damaging the front wing in the centre of london when hubby was on his way home last summer. He managed to do most of the work himself, and we're not fixing the dented wing as it's just cosmetic. we're not getting rid of this car until we've paid off the loan we took out to buy it (it was £3500 three years ago, it's since then done 75000 extra miles and has a massive dent down one side). Hubby needs to commute by car, train is far more expensive even with Rail Staff PRIV card and takes twice as long.

for the £300 in diesel we get an average of around 1400 or so miles per month. that's hubby's longish distance commuting and small local trips.

I based the clothing cost on last year's spending. and no, we don't lol. even sophie's "new" uniform this year has been thrifted.

no, we can't swap for cheaper contracts. we're on the cheapest we can get on t mobile and are very happy with them. recently renewed but tweaked somewhat. it was £45 per month two months ago and this is for two phones.

I have to admit, the electricity and gas were guesses... but this is about what we were paying in the winter. over the summer it's been much less. we have a combined bill once a month and it's done on usage not on average/estimations which is nice. once a month we give meter readings. with E.On, including an electricity meter checker thingyummy and if things are getting too high, I go round annoying the family by turning things off!

does this clear it up a bit?