Soa

vicky1001

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 1160
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1960

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 102.74
Electricity............................. 47
Gas..................................... 47
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15.33
Mobile phone............................ 60
TV Licence.............................. 12.37
Satellite/Cable TV...................... 15.33
Internet Services....................... 34
Groceries etc. ......................... 365
Clothing................................ 20
Petrol/diesel........................... 80
Road tax................................ 130
Car Insurance........................... 62.75
Car maintenance (including MOT)......... 54
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 28
Pet insurance/vet bills................. 64
Buildings insurance..................... 0
Contents insurance...................... 14.08
Life assurance ......................... 26
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 22
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 15
HDC overpayment......................... 40
Gregory pennington dmp.................. 123
fraud prevention........................ 8
bank fees............................... 28
mobile insurance........................ 9
dongle broadband........................ 19
education open uni...................... 110
rentals................................. 65
charity donations....................... 6
Total monthly expenses.................. 2157.6


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 3000
Total Assets............................ 7000

No Secured nor Hire Purchase Debts

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


Monthly Budget Summary
Total monthly income.................... 1,960
Expenses (including HP & secured debts). 2,157.6
Available for debt repayments........... -197.6
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -197.6

Personal Balance Sheet Summary
Total assets (things you own)........... 7,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 7,000

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.






we have seperate bank accounts

here what goes in and out of mine with the SOA tried to add it together



wage 800

management - 13
Ace life cover - 18
just giving -6
hughs rentals - 65
phone cover - 5
petplan - 40
pet club care plan - 24
fraudlock-8
3 mobile - 30
3 broadband - 19
lovefilm - 15
ics - 70
open uni - 35
food - 365



here what out of partner account

wage paid weekly but if 4 wk month 1160

think insure contents - 14.08
npower - 94
rent -500
water -33
life cover - 8
3 mobile - 30
admerial car - 52.92
bt package tv/phone/bb - 46.60
rac- 9.83
healthcare - 28
council tax - 102.74
phone insure - 4
DMP- 123
HDC overpayment - 40

this per month

would love help on budget the little things - hair cuts about 22 month

but petrol he would like 30pm and said mot like 50 when it needs it , car tax is 77 for 6 months runs out may 12 mot run out may 12 too

Hovel_lady

Just a quick comment for now - is road tax really £130 a month? If it's a year your figures will look better

McKneff

Your gas and electric are way too high for just the two of you. Look for a cheaper tariff

You could look at your grocery bill too, you should really be able to shave a third off it. Do you buy ready made things,
like mashed potato, coffee at work, buy lunches,

vicky1001

McKneff wrote: »

Your gas and electric are way too high for just the two of you. Look for a cheaper tariff

You could look at your grocery bill too, you should really be able to shave a third off it. Do you buy ready made things,
like mashed potato, coffee at work, buy lunches,

hi its all monthly - apart from road tax and stuff im dyslexic and not good working out both totals of what our house outgoings are- anyone good at maths? what on the bottom is true statement of both our bank accounts

rising_from_the_ashes

Hi Vicky, well done for getting it all down & a few comments form me below which I hope may help

vicky1001 wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 1160
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1960

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 102.74
Electricity............................. 47
Gas..................................... 47
Oil..................................... 0
Water rates............................. 0 Are you in Scotland or NI? If not, need something here
Telephone (land line)................... 15.33
Mobile phone............................ 60 When do the contracts end? Switch to PAYG & use for emergencies / urgent things only (£5/month should be enough for each of them)
TV Licence.............................. 12.37
Satellite/Cable TV...................... 15.33 Sorry but not an essential .....
Internet Services....................... 34 This is high on top of your landline & cable - as a comparison I only pay £10.99/month
Groceries etc. ......................... 365:eek:Sorry but this is huge! Pop over to the Old Style board & try the grocery challenge - a great bunch of people (families of 4 manage on £220/month incl toiletries, cleaning & baby stuff). Loads of tips to cut down & some fab recipes
Clothing................................ 20
Petrol/diesel........................... 80
Road tax................................ 130 I think this should be £12.83 judging on what you say below - £77 x 2 / 12
Car Insurance........................... 62.75 Check comparison sites at renewal time
Car maintenance (including MOT)......... 54 Try to look back at spending over the last year to get an accurate figure ... was confused by £50 when it needs it (sorry)
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 28 What's this?
Pet insurance/vet bills................. 64 How many / types of pets? Does this incl food etc?
Buildings insurance..................... 0
Contents insurance...................... 14.08 Seems high, I pay £15 for buildings & contents - again try comparison sites are renewal time
Life assurance ......................... 26
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 22 Try to cut in 1/2 - student nights, an extra week between cuts etc
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 15
HDC overpayment......................... 40Think this should be in your debt list?
Gregory pennington dmp.................. 123 and this?
fraud prevention........................ 8
bank fees............................... 28 quite high - any chance of downgrading the account?
mobile insurance........................ 9
dongle broadband........................ 19:eek: Sorry but added to your internet charges that's over £50/month....
education open uni...................... 110
rentals................................. 65 What kind of rentals? Sorry but expensive for every month (on top of Sky/cable, internet etc)
charity donations....................... 6
Total monthly expenses.................. 2157.6


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 3000 What are these? Could you use to clear some debts?
Total Assets............................ 7000

No Secured nor Hire Purchase Debts

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


Monthly Budget Summary
Total monthly income.................... 1,960
Expenses (including HP & secured debts). 2,157.6
Available for debt repayments........... -197.6
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -197.6

Personal Balance Sheet Summary
Total assets (things you own)........... 7,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 7,000

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

I think you've included your debts in your outgoings rather than the debts list - is this because your on a DMP? (sorry bit confused).

Your two areas that could easily be cut back are Groceries & your Internet .... and rentals.

Is there any chance you could get a joint account to cover the bills/household expenditure - it may be easier to keep track of and then you'd know what each of you have left each month.


HTH:)

wannabee_in_credit

I think there's room to save on mobile phones and internet. You have a lot going out on that.
Also, there seems to be a lot spent on pet stuff. Do you have a lot of pets? I honestly don't know because I don't have pets.
Definitely room for cutting back on groceries - I have a family of four and we're working to a budget of £50 a week.
There's lots of room to cut back there, and I don't think that it will be too tough. Not read all of your other threads but have you looked into moving your dmp to either cccs or payplan. Then all the money you pay will go to clearing your debt rather than paying their fees.

Mikazaru

vicky1001 wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 1160
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1960

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 102.74
Electricity............................. 47 See if you can get a bit cheaper.
Gas..................................... 47
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15.33
Mobile phone............................ 60 See if you can drop a tariff
TV Licence.............................. 12.37
Satellite/Cable TV...................... 15.33 Get rid.
Internet Services....................... 34 Can halve.
Groceries etc. ......................... 365 Can definitely reduce for two people.
Clothing................................ 20
Petrol/diesel........................... 80
Road tax................................ 130
Car Insurance........................... 62.75
Car maintenance (including MOT)......... 54
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 28
Pet insurance/vet bills................. 64
Buildings insurance..................... 0
Contents insurance...................... 14.08
Life assurance ......................... 26
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 22
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 15 Do you have this saved?
HDC overpayment......................... 40
Gregory pennington dmp.................. 123 Drop and go with Payplan or another free company
fraud prevention........................ 8
bank fees............................... 28 Can you swap to a free one?
mobile insurance........................ 9 Cancel
dongle broadband........................ 19 Do you really need this? You're spending £54 just on internet?
education open uni...................... 110
rentals................................. 65 What's this for?
charity donations....................... 6
Total monthly expenses.................. 2157.6


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 3000
Total Assets............................ 7000

No Secured nor Hire Purchase Debts

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


Monthly Budget Summary
Total monthly income.................... 1,960
Expenses (including HP & secured debts). 2,157.6
Available for debt repayments........... -197.6
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -197.6

Personal Balance Sheet Summary
Total assets (things you own)........... 7,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 7,000

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Some suggestions above. You're over spending by £197 a month but that should be easy to make up with cut backs.

Hiddenidenity

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 800 Can you up this?
Partners monthly income after tax....... 1160
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1960

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 102.74
Electricity............................. 47 Too high
Gas..................................... 47 Same as above
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15.33 This with tv and net is way too high
Mobile phone............................ 60 Way too high cut down contracts/switch to pay as you go
TV Licence.............................. 12.37
Satellite/Cable TV...................... 15.33 see above
Internet Services....................... 34 see above
Groceries etc. ......................... 365 Too high for 2 of you mines less than half of this for me and 2 children in nappies and formula. Pop over to oldstyle
Clothing................................ 20
Petrol/diesel........................... 80
Road tax................................ 130 :eek: A MONTH!
Car Insurance........................... 62.75
Car maintenance (including MOT)......... 54 Do you really put this away?
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 28 Is prepaid certificate not cheaper for you
Pet insurance/vet bills................. 64 this is shocking :eek:
Buildings insurance..................... 0
Contents insurance...................... 14.08
Life assurance ......................... 26
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 22
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 15 Do you actually have this
HDC overpayment......................... 40
Gregory pennington dmp.................. 123:eek: Switch to a free sservice
fraud prevention........................ 8
bank fees............................... 28
mobile insurance........................ 9
dongle broadband........................ 19 Why this and net services?
education open uni...................... 110
rentals................................. 65 Whats this
charity donations....................... 6 Sorry but why you have such a shortfall stop this
Total monthly expenses.................. 2157.6


Assets
Cash.................................... 0 Wheres the emergancy fund and car money?
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 3000
Total Assets............................ 7000

No Secured nor Hire Purchase Debts

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


Monthly Budget Summary
Total monthly income.................... 1,960
Expenses (including HP & secured debts). 2,157.6
Available for debt repayments........... -197.6
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -197.6

Personal Balance Sheet Summary
Total assets (things you own)........... 7,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 7,000

vicky1001

wannabee_in_credit wrote: »

I think there's room to save on mobile phones and internet. You have a lot going out on that.
Also, there seems to be a lot spent on pet stuff. Do you have a lot of pets? I honestly don't know because I don't have pets.
Definitely room for cutting back on groceries - I have a family of four and we're working to a budget of £50 a week.
There's lots of room to cut back there, and I don't think that it will be too tough. Not read all of your other threads but have you looked into moving your dmp to either cccs or payplan. Then all the money you pay will go to clearing your debt rather than paying their fees.

thanks guys - will try and classify - can anyone work out how much our total outgoing is month?

Nope as below my soa -water 33 pm

-Food is all bought from farm but most month come to 300
- internet - dongle is for uni and tv/phone/bb all in one split by 3 is around 15 each pm

dmp debt plan is 123 month

have 2 dogs 40 insurance and 24 vet fees installments month

vicky1001

Hard to work out soa - see under it this is what we both have going out our banks a month just cant add it up and work out car stuff if need- mots etc road tax and emergency fund

wage 800

management - 13
Ace life cover - 18
just giving -6
hughs rentals - 65
phone cover - 5
petplan - 40
pet club care plan - 24
fraudlock-8
3 mobile - 30
3 broadband - 19
lovefilm - 15
ics - 70
open uni - 35
food - 365



here what out of partner account

wage paid weekly but if 4 wk month 1160

think insure contents - 14.08
npower - 94
rent -500
water -33
life cover - 8
3 mobile - 30
admerial car - 52.92
bt package tv/phone/bb - 46.60
rac- 9.83
healthcare - 28
council tax - 102.74
phone insure - 4
DMP- 123
HDC overpayment - 40

this per month

would love help on budget the little things - hair cuts about 22 month

but petrol he would like 30pm and said mot like 50 when it needs it , car tax is 77 for 6 months runs out may 12 mot run out may 12 too

rising_from_the_ashes

vicky1001 wrote: »

Hard to work out soa - see under it this is what we both have going out our banks a month just cant add it up and work out car stuff if need- mots etc road tax and emergency fund

wage 800

management - 13
Ace life cover - 18
just giving -6
hughs rentals - 65 What is this?
phone cover - 5
petplan - 40
pet club care plan - 24 What does this cover (annual jabs etc?) - how long left to pay?
fraudlock-8
3 mobile - 30
3 broadband - 19
lovefilm - 15 Sorry but not essential - esp with Sky/Cable & "rentals"
ics - 70 Have you checked if you can get any help with the fees?
open uni - 35 as above
food - 365 as comments in SOA



here what out of partner account

wage paid weekly but if 4 wk month 1160

think insure contents - 14.08
npower - 94
rent -500 Sorry but I'm confused as why this shows in your SOA ....
water -33 but the water doesn't? (I think it should as it's an outgoing like all the rest)
life cover - 8
3 mobile - 30
admerial car - 52.92
bt package tv/phone/bb - 46.60 This is still expensive - as a comparison I pay £15 line rental & £10.99 internet ... the TV bit isn't an essential
rac- 9.83
healthcare - 28
council tax - 102.74
phone insure - 4
DMP- 123
HDC overpayment - 40

Sorry Vicky, I'm also confused about why you need to pay extra for internet for studying on top of your line rental/internet charges (I would understand if you didn't have these - but don't see how they can ask you to pay that much each month).

What does the dongle do? (I have one but it doesn't cost me any extra on top of my ISP charges @ £10.99)

I'm also confused that if the TV/internet/landline split down into roughly £15 / month each (as above) - why does the internet charge in your SOA say £34 / month?