Our SOA

sugarplum10

mildred1978 wrote: »

£1920 per year going into emergency fund but no cash?

£900+ money "spare" per month but paying minimum payments on CCs and no cash?

£2400 into savings accounts for kids per month but no cash?

£60 per month on hairdressing? Really?

£1560 per year on presents and Christmas?! Really?

im sorry but i thought this site was for support and putting really??? after whats she has been honest about is really patronising.
constructive criticism would be more helpful!:o

ntb1

Jan not so good, but have managed to get debt down a bit further, ended up spending too much over christmas on nights out etc.. but aimimg to pay another 1k of the debt in feb.

ntb1

Unsecured Debts
Description....................Debt......Monthly...APR
Car Loan.......................908.8......227.2.....8.8
CC1............................1850 ......30........0
CC2............................950 ......35........0
Total unsecured debts..........3708.80......292.2.....-

getting there slower than i'd hoped but moving in the right direction never the less

RAS

Actaually quite mpressive given the short time span.

ntb1

Thought should update this, we've done alright but just had a holiday so back a liitle bit but heres the current state of play.

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................ 1896
Partners monthly income after tax....... 1037
Benefits................................ 134.8
Other income............................ 45.41
Total monthly income.................... 3113.21

Monthly Expense Details
Mortgage................................ 118
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 156
Electricity............................. 30
Gas..................................... 60
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 35
Mobile phone............................ 5
TV Licence.............................. 12.43
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 340
Clothing................................ 100
Petrol/diesel........................... 40
Road tax................................ 15
Car Insurance........................... 22
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 12
Contents insurance...................... 0
Life assurance ......................... 55.55
Other insurance......................... 60.51
Presents (birthday, christmas etc)...... 60
Haircuts................................ 33
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0
Gas Cover............................... 0
Plumb Cover............................. 10
DD1 Savings CIS......................... 101
DD2 Savings............................. 100
Total monthly expenses.................. 1520.49


Assets
Cash.................................... 2800
House value (Gross)..................... 250000
Shares and bonds........................ 21000
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 278800


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 77000....(118)......1.6
Total secured & HP debts...... 77000.....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
Car Loan.......................Paid Off
CC1............................1000......30....... .0
CC2........was paid off but now 1100 ......35....... .0
Total unsecured debts..........2100......65.....-


Monthly Budget Summary
Total monthly income.................... 3,113.21
Expenses (including HP & secured debts). 1,520.49
Available for debt repayments........... 1,592.72
Monthly UNsecured debt repayments....... 65.00
Amount left after debt repayments....... 1,527.52

Personal Balance Sheet Summary
Total assets (things you own)........... 278,800
Total HP & Secured debt................. -77,000
Total Unsecured debt.................... -2,100
Net Assets.............................. 198,900

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

aim will be to pay off the holiday money quickly as OHs money drops in september.

ntb1

tallyhoh

Splendid! pay off cc1 this month & cc2 next month & still have £500 left each month.

Well done.

whiteguineapig

could you try aldi if you have one nearby?
we have just started going ourselves and the fruit and veg is very good quality and very very cheap (i am comparing with tesco which is where i used to buy it)

Gilly1976

Other income............................ 45.41 what's this? Any way to increase? child tax credit. i do also get a bonus twice a year but have left this out as one its not guarnteed and two it would pay for a holiday next year if no other option

Have you accurately completed your renewal - My wife and I have a similar income to you and we have not qualified for child tax credit for last year and the current tax year. You may want to double check this to make sure there is no nasty surprise from HMRC looking to reclaim any overpayments.

ntb1

Gilly1976 wrote: »

Other income............................ 45.41 what's this? Any way to increase? child tax credit. i do also get a bonus twice a year but have left this out as one its not guarnteed and two it would pay for a holiday next year if no other option

Have you accurately completed your renewal - My wife and I have a similar income to you and we have not qualified for child tax credit for last year and the current tax year. You may want to double check this to make sure there is no nasty surprise from HMRC looking to reclaim any overpayments.

you are right, will adjust thanks

brummiebabe

"Have you accurately completed your renewal - My wife and I have a similar income to you and we have not qualified for child tax credit for last year and the current tax year. You may want to double check this to make sure there is no nasty surprise from HMRC looking to reclaim any overpayments."


Agree with this advice - we have a similar income & now earn way over the threshold - and we have 3 children, not 2. I would make sure this is correct so that they don't hit you for over payments!!