Risen from the ashes ...

rising_from_the_ashes

This may actually explain quite a lot!

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 1324
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1324

Monthly Expense Details
Mortgage................................ 276
Secured/HP loan repayments.............. 0
Mobile insurance.................................... 6 Need to find cheaper - downgraded my bank account & saved £10/month but now paying for the mob ins
Estate maintenance charge ........................... 11
Council tax............................. 94 Over 12 months
Electricity............................. 30 See below
Gas..................................... 40 See below
Bank Account Fee................. 6.5
Boiler insurance............................. 18.85 Ends Oct as boiler too old:eek: Will have to try to put this away in case it breaks down
Telephone (land line)................... 12.49 Line rental paid yearly in advance to get discount, which covers the cost of "anytime" calls
Mobile phone............................ 21 Cashback contract - cost overall is £8.50
TV Licence.............................. 12.5
Satellite/Cable TV...................... 21.5 I know ....... this is my entertainment!
Internet Services....................... 12.99 Currently 1/2 price until May
Groceries etc. ......................... 140 Overspending on this
Clothing................................ 25
Petrol/diesel........................... 150 Estimate for new car - currently more than this but not coming home should balance things out a bit. Was down as less previously which will account for another bit of the overspend
Road tax................................ 8.5 Increased for new car
Car Insurance........................... 20 Currently paying £23.50 + saving £20 so a bit of saving made here
Car maintenance (including MOT)......... 35 Should be OK to leave this as is as new car service etc not due until March (current car is Jan)
Breakdown cover............................. 3.5 New car brochure states 5 years cover provided (was only 1 year when I got my current one) but not sure if you get the remainder if you buy the car 2nd hand?
Charity ............................ 9
Cats insurance....................... 18.75 They do have a "top of the range" policy - have done a couple of quotes and comes out cheaper, just need to research the companies before changing (see below)
Dog insurance ............ 23.5
Medical (prescriptions, dentist etc).... 30 incl massage
Window cleaner ................. 5
Buildings insurance..................... 18.5
Dog ...................... 40 dog walker costs removed - was another £45
Cats ......................... 50
Income protection insurance......................... 23
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 50 This is my "anything else" budget - stuff for the house, garden etc (kettles, fence etc). In reality, it's not happening:(
Monthly savings ................................. 25 Gets put away - should get £300 back in December time (will be going to pay a bit off the new car!)
Emergency fund.......................... 25Was raided last month to try to balance bank account
Total monthly expenses.................. 1277.58


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 7500
Other assets............................ 0
Total Assets............................ 7500


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(276)......0
Total secured & HP debts...... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,324
Expenses (including HP & secured debts). 1,277.58
Available for debt repayments........... 46.42
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 46.42 Ohhhhhhh dear! I had £98 left off the last one but knew a couple of bits were missing (massage, mobile insurance etc). As this is technically +£45 as the dog walker's been removed, fuel costs were underestimated before & I'd not incl the £20 being saved for the car insurance ...... no wonder things haven't been balancing the past couple of months :eek:

Personal Balance Sheet Summary
Total assets (things you own)........... 7,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 7,500

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

Gas & Elec Just had a notification from my G&E Co that they're putting up my DD from £64 - £88:eek: - have disputed as my account balanced by the end of this year. However, they like you being in credit over the winter and want you to pay more then & less in the summer - surely one of the advantages of having DD is that it's a regular payment so you know what you're paying! :mad:

Cats insurance pet insurance is a minefield - you can't move if your pet has an existing condition or it'll not be covered, there's an exclusion period, some policies valid for 12 months (useless if they get an ongoing condition) with others for life (better but more expensive). Some companies are to be totally avoided and others are OK - but I know someone who switched in Feb and had to make a claim in April and they're still waiting for the payment..... meanwhile there's several £000 on their cc and they'll not get the interest back

rising_from_the_ashes

Knitting_Nora wrote: »

*snort* F1 indeed...I'm doing the same thing - but with Jane Austen's Emma and a pack of minstrels...

Hi Nora:D *sigh* ...... minstrals ........ *sigh*

Might just have to go & make a cup of WW hot choc & have a pack of their cookies

Knitting_Nora

rising_from_the_ashes wrote: »

Satellite/Cable TV...................... 21.5 I know ....... this is my entertainment!
Internet Services....................... 12.99 Currently 1/2 price until May

You won't get me arguing (there's something in all of this about quality of life, isn't there?) but have you considered the two together, or approaching the satellite company to see whether they can give you a better price? Alternatively, have you reeeeeaaally considered what aspects of the tv package you use and whether it can be offered via freeview and (for example) a dvd postal/streaming service?

Groceries etc. ......................... 140 Overspending on this
Fair enough - but the point is that you already know why *pats Rising on the back* So what should this be?

Income protection insurance.............. 23
I'm a lover of insurance - just take some time to think about what you really need it for, and then read the small print on all of your policies and make sure they actually do what you need them to - and that the excess is affordable (you'd be amazed how many policies don't do what you'd expect, or have excess levels so high as to render them useless!).

Gas & Elec Just had a notification from my G&E Co that they're putting up my DD from £64 - £88:eek: - have disputed as my account balanced by the end of this year. However, they like you being in credit over the winter and want you to pay more then & less in the summer - surely one of the advantages of having DD is that it's a regular payment so you know what you're paying! :mad:

It's your money - speak to them again, and explain that you can't afford the higher payments. Make it clear that by hiking up the DD the firm is causing you financial difficulties (use that term). Since you aren't in debt, then I'd be interested to hear why they think they can take more money than is necessary.

rising_from_the_ashes wrote: »

Hi Nora:D *sigh* ...... minstrals ........ *sigh*

Might just have to go & make a cup of WW hot choc & have a pack of their cookies

Be rude not to...

Knitting_Nora

Also meant to ask whether you're paying for your bank account (there's a note for £6.50 in your SOA). If so, take a bit of Martin's advice and check that it's still worth it for you rather than a standard free account.

After all, that's £78 over the year....

rising_from_the_ashes

Thanks Nora:A

Knitting_Nora wrote: »

You won't get me arguing (there's something in all of this about quality of life, isn't there?) but have you considered the two together, or approaching the satellite company to see whether they can give you a better price? Alternatively, have you reeeeeaaally considered what aspects of the tv package you use and whether it can be offered via freeview and (for example) a dvd postal/streaming service?

I have a big Sky debate every so often - it is expensive (just have basic package) but I rarely go out (can't afford to!) and being in the house by myself I think I'd go nuts if I didn't have it.

I love documentaries etc which you don't get a lot of on "normal" tv or even the Freesat channels - I have tried to live with just the Freesat ones (I have this upstairs so know which ones I'd get) but TBH would struggle.

Unfortunately, where I live I'm in a "market 1" line area which means I'm very limited in broadband choice.

I could get Sky b/band but it's £17.50 / month - even having the TV, as I can't get the high fibre thing or something like that:(

Will keep pondering on it ......

Knitting_Nora wrote: »

Groceries etc. ......................... 140 Overspending on this
Fair enough - but the point is that you already know why *pats Rising on the back* So what should this be?

it should be £140! If you look at my sig, you'll see that I'm usually not too far off (£50 overspend in the first 1/2 of the year which isn't bad!:)) - it just went really wrong in August!

Knitting_Nora wrote: »

Income protection insurance.............. 23
I'm a lover of insurance - just take some time to think about what you really need it for, and then read the small print on all of your policies and make sure they actually do what you need them to - and that the excess is affordable (you'd be amazed how many policies don't do what you'd expect, or have excess levels so high as to render them useless!).

Another frequently debated one - I've had it for a couple of years as my job's really insecure (hate to think how much I've paid into it:()

I've put off cancelling as I'd never be able to get another one which covered redundancies (which is my big worry) as there have now been redundancies where I work and one of the clauses is that you're not aware of any reason etc that you might be made redundant. ETA I had it before any redundancies happened / were talked about so am OK on this policy.

On that basis, I've kept it - I nearly cancelled it this March (and last!) as I've survived each redundancy round but would be absolutely ****** without it if it did happen:(

Think I'll leave it until the end of the financial year again and then have another think.

I do need to look at the other insurances too as I seem to have an awful lot!

Knitting_Nora wrote: »

It's your money - speak to them again, and explain that you can't afford the higher payments. Make it clear that by hiking up the DD the firm is causing you financial difficulties (use that term). Since you aren't in debt, then I'd be interested to hear why they think they can take more money than is necessary.

Thanks - I've sent them an email today so will see what they say (offices are really helpfully only open when I'm at work).

Their reasoning - as they did actually say in the letter that they appreciated my account was in credit! (just) - was to cover winter usage and the payments will decrease after that. Doesn't help tho' as where do they expect people to find the extra for that period!:mad:

Knitting_Nora wrote: »

Be rude not to...

It was rather yum! Only 3 points for both and a really nice treat mid-afternoon!:)

Knitting_Nora wrote: »

Also meant to ask whether you're paying for your bank account (there's a note for £6.50 in your SOA). If so, take a bit of Martin's advice and check that it's still worth it for you rather than a standard free account.

After all, that's £78 over the year....

I recently downgraded my account (was paying around £17 before) as I didn't use most of the features. I do use these ones as I get stuff like extra warranty on new appliances - new oven (3 years), washing machine (2 years), fridge/freezer (last Xmas) .... will have another look at the benefits (I also get an interest free OD which can be handy sometimes).

Thanks Nora, much appreciated


Well - better take Maisie to the woods (think the beach will be too busy as it's lovely out ) - she's been huffing and puffing for the last hour or so while I've been watching the race.:)

beanielou

I wouldent cancel income protection if I was you.
23 isent going to make that much difference either way but worth its weight in gold if anythything happens IYSWIM?

rising_from_the_ashes

beanielou wrote: »

23 isent going to make that much difference either way but worth its weight in gold if anythything happens IYSWIM?

Ohhhhh I do:) ........ and really the reason I've kept it so far.

It doesn't cover my full outgoings (couldn't afford the premium!) - but it does cover the absolute essentials like the various insurances (all house ones, car, pets etc), mortgage *, gas & elec, tv licence (not sky tho!) etc which would make a huge difference if the worst did happen.

* I think I'd probably get the interest paid on this for 12 months? but I'd really like to make up the difference if at all poss as I don't wanting any longer than it has to! (already runs until I'm 69:eek:)

Well, thinking I may head off for an early(ish) night - Maisie's flat out (and snoring!!) & have a few wee bits to do upstairs.

rising_from_the_ashes

Ohhhhh meant to say:o - just got my car insurance sorted:T

£230 for the year - have started a new policy with a different co (not impressed with current insurer - they changed underwriters this year & tried to charge me £40 to switch my car to a courtesy car for 6 hours!!!)

It was £27.50 to cancel the policy but £26.50 to make any changes so....

It also means that I can reduce the costs a bit (as won't have the monthly payment & saving one as well) and it's cheaper than my current one!:)

Didn't quite have the full amount saved yet (wasn't due to renew until Dec) but was at £180, so will borrow the extra from the car maintenance/tax fund (nothing due out of there until next year).

These pots are really making a difference

beanielou

Great :j :j

Have a good week.
Not long til Tuesday

rising_from_the_ashes

Just a quickie (really behind!)

She's home:D and is lovely:j - will take a bit of getting used to as a totally different way of driving but *sigh* it's sooooooo easy to drive