here's my soa - would appreciate help / comments

mrslawrence2003

ok, i've been here a while but havent really posted an soa. currently looking at ways to cut back so would appreciate suggestions / idea on further reducing bills.

Monthly Bills / Outgoings

Rent £910.00
Council tax £81.00
Water rates £24.92
Gas & Elec £57.00
Contents insurance £14.49
Life insurance £31.00
TV Licence £11.00
Vodafone / ESTIMATE £35.00
O2 / ESTIMATE £35.00 (work contribute £20/month to my bill)
O2 insurance £7.50
Broadband £17.99
Egg Loan £251.10
Lloyds Loan £192.36
Student Loan £169.00
Lloyds card £100.00
Barclaycard £65.00
BT phone line £10.00
Overdraft interest APPROX £15.00 (just opened A&L 0% o/d so this will go)
travel (bus pass/oyster card) - £165.99
Food - £300 (have overestimated quite a bit - have lots of allergies so slowly working on reducing this)

total outgoing - £2,495.36

total income - £3,605 (for 2 of us, both of us have just had a payrise that's made approx £400 difference)

hair/clothes/entertainment/christmas/birthdays - in the run up to christmas was putting by £50. but not sure now how best to split the remaining as would like to overpay on the debts.

thanks!

Skint_Catt

What about food, petrol, cars/transport etc?

How many people live with you?

S_C

justmarried06

Hi MrsL - well done for posting the dreaded SOA!!

There's a few things missing though and without them we may not be able to help as much as otherwise - there's no mention of food, petrol, car maintenance costs (ie car tax) (if you have a car hehe), socialising, hair cuts, birthday/christmas presents or other sundries?

JM x

justmarried06

Oops, cross posted, sorry

mrslawrence2003

have just amended a bit!

Skint_Catt

I'm guessing your in London if you have an Oyster card? That prob means you couldn't get cheaper rent?
See the Old Style board for receipe and household cleaning tips!

What are your APR's and balances on your cards/loans/debts?

S_C

mrslawrence2003

Skint_Catt wrote:

I'm guessing your in London if you have an Oyster card? That prob means you couldn't get cheaper rent?
See the Old Style board for receipe and household cleaning tips!

What are your APR's and balances on your cards/loans/debts?

S_C

we probably could get cheaper rent - but we looked around last year and tbh, the flats we were seeing were still about £800 a were much smaller/grottier than our current flat (we were paying £1,000 but i negotiated it down last year).

debts asf:

Student Loan £8,360.00 2.20%
Lloyds C. Card £2,900.00 7.70% LOB
Egg Credit Card £0.00 16.90%
Lloyds Loan £1,878.00 6.90%
Egg Loan £15,083.00 7.70%
Lloyds O/draft £1,200.00 18.90%
Barclaycard £2,800.00 4.90% LOB

O/draft - interest rate was 16.9% - i asked Lloyds to reduce my interest rate or i would defect to A&L, pointed out had been a customer of lloyds for 12 yrs, always run accounts in exemplary manner etc. imagine my surprise this week when i discovered that not only had lloyds failed to reduce, but they had actually increased it to 18.9%!!!!!! have applied and been accepted for A&L interest free o/d but not sure what the o/d limit will be. have also just applied for M&S card for their LOB offer but not heard back yet.

karry1412

I don't really have any advice but well done on posting & addressing the issue

chevalier

My comments are in blue[QUOTE=

Monthly Bills / Outgoings

Rent £910.00
Council tax £81.00
Water rates £24.92
Gas & Elec £57.00I know you are renting, but can you check if these are the cheapest suppliers. Then if you need your landlords permission to swap you would have the reduced figures ready to pursuade him. Check on https://www.quidco.com to see if your cheapest provider is doing cash back. Some energy providers do
Contents insurance £14.49Is this the cheapest again check as above
Life insurance £31.00Is this for both of you? If not it seems expensive
TV Licence £11.00
Vodafone / ESTIMATE £35.00could you go pay as you go?
O2 / ESTIMATE £35.00 (work contribute £20/month to my bill)
O2 insurance £7.50check your contents insurance, your phone may already be covered.
Broadband £17.99
Egg Loan £251.10
Lloyds Loan £192.36
Student Loan £169.00
Lloyds card £100.00
Barclaycard £65.00
BT phone line £10.00
Overdraft interest APPROX £15.00 (just opened A&L 0% o/d so this will go)
travel (bus pass/oyster card) - £165.99
Food - £300 (have overestimated quite a bit - have lots of allergies so slowly working on reducing this)If you meal plan, and cook from scratch you can still get this down if it is for two of you only. Cooking from scratch also means you avoid things which set off your allergies. Have they been diagnosed by a doctor? If so you may be able to get some allergy basics on prescription (and maybe free but am not sure). For example I get lactose free milk powder for my son as he is allergic

total outgoing - £2,495.36can either of you get a second job?

total income - £3,605 (for 2 of us, both of us have just had a payrise that's made approx £400 difference)

hair/clothes/entertainment/christmas/birthdays - in the run up to christmas was putting by £50. but not sure now how best to split the remaining as would like to overpay on the debts.

thanks![/QUOTE]
If you cannot get another job, then there are many sites on the web that either pay you for completing surveys (https://www.lightspeed.com eg) or pay for you to do click throughs (eg quidco as above, but also mutualpoints, pigsback, etc), which could bring in some cash or vouchers (to use as xmas presents in themselves, or to buy christmas presents with.

Do you have a tesco/nectar etc card? You could save up the vouchers for either days out or to pay for christmas.:j

Go for the minimalist look and sell everything you haven't used for a year on ebay!!!!:D
Hope this helps and sorry it is so long
chev

lynzpower

hiya!

From your travel card costs, Im thinking are you in zone 5? only it does seem a lot? if you are that far out im fairly sure you can get a cheaper rent too? We have just got a 2 bed cottage in zone 3 for 733pcm - gorg area.

Also everytime you are delatyed on the tube for 15 mins, you get £4 back. but you must fill out the forms called customer charter you can get from tube stations. Get a stack- and keep a few in your handbag, fill em in on the tube, and job done, they send you a credit you can take to the tube station when you buy your tickets ( eg for OHs it was £4 for a single) Do this on every tube journey and you might find that your travel card end up being half price!

Skint_Catt

chevalier wrote:

Go for the minimalist look and sell everything you haven't used for a year on ebay!!!!:D

Exactly what I'm doing, though even things I have used, but don't really need are going! :rolleyes:

S_C