Single mums SOA

mazzymoo3

Sorry here it
The benefits is a mixture of child benefit and tax credit, with both i am not sure how long I will be getting them.

Also at the moment i work 11/12hrs days but if ex has children overnight then i can do more overtime.

I know the swimming lessons are expensive but its something they enjoy and I see it as a life skill which i can support by working overtime.

The mortgage is high but ex fixed it prior to splitting up and now to get out of it and to take advantage of low base rate ING want me to pay 4K to get out of it which i cant do.
Also I have put car maintance as £400 as that was the last garage bill (lesson to self for buying the flaming thing on Ebay)

Statement of Affairs and Personal Balance SheetHousehold Information[/b]
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1800
Partners monthly income after tax....... 0
Benefits................................ 580
Other income............................ 0
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 670
Secured/HP loan repayments.............. 236
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 30
Gas..................................... 31
Oil..................................... 0
Water rates............................. 28.4
Telephone (land line)................... 15
Mobile phone............................ 35
TV Licence.............................. 10.62
Satellite/Cable TV...................... 42
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 216
Car Insurance........................... 500
Car maintenance (including MOT)......... 400
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 550
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 56
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 12
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Children swimming lessons............... 175
Total monthly expenses.................. 3622.02

Assets
Cash.................................... 0
House value (Gross)..................... 165000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 165800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 124000...(670)......4.79
Secured Debt.................. 12000....(211)......7.9
Hire Purchase (HP) debt ...... 2000.....(25).......0
Total secured & HP debts...... 138000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Virgin credit card.............3000......25........0
Total unsecured debts..........3000......25........-

Monthly Budget Summary
Total monthly income.................... 2,380
Expenses (including HP & secured debts). 3,622.02
Available for debt repayments........... -1,242.02
Monthly UNsecured debt repayments....... 25
Amount short for making debt repayments. -1,267.02
Personal Balance Sheet Summary
Total assets (things you own)........... 165,800
Total HP & Secured debt................. -138,000
Total Unsecured debt.................... -3,000
Net Assets.............................. 24,800

Pantera_Fan

Hi,

You shouldn't be as bad off as it first looks as you have put the road tax, car insurance and maintenance annual figures instead of the monthly figures. Correcting this takes off £1023 from your monthly expenditure straight away.

According to your figures you are paying £2,100 a year on swimming lessons! Can they go less often or get free lessons with the school?

You could probably reduce the grocery bill by dropping a brand, bulk cooking etc.

Buildings cover looks high and I assume this includes contents as well. Unless you have a poor claims history or are in a high flood, subsidence or theft area you could reduce this by shopping around on comparison sites. Don't forsake cover for price though.

mildred1978

Why have you started a new thread? We're all answering you on your original one!

mazzymoo3

sorry no idea how i managed to a second thread ! ignore this one