Help with SoA

poppy10_2

drwho2011 wrote: »

Tried 2 different digital aerials and use a signal booster, its fine if you like channels that start from 6pm like the Food Network but kinda naff for any of the kids programs.

Its good for BBC1, BBC2, BBC3, BBC4 and ITV2+1, thats about it other than channels that we don't get a reception or wouldn't watch.

The kids don't need a specialist TV channel just for them. There are children's programmes broadcast on the main channels.

Regarding the Freeview reception issue, you can cancel your Sky subscription and still be able to view the 'free' channels on your Sky box.

drwho2011

poppy10 wrote: »

The kids don't need a specialist TV channel just for them. There are children's programmes broadcast on the main channels.

Regarding the Freeview reception issue, you can cancel your Sky subscription and still be able to view the 'free' channels on your Sky box.

We use virginmedia not sky, the big difference between the 2 companies is with virginmedia you never own your box as it is rented.

Tbh we did fine without a TV till 2009 so I guess that can go.

quintwins

drwho2011 wrote: »

We use virginmedia not sky, the big difference between the 2 companies is with virginmedia you never own your box as it is rented.

Tbh we did fine without a TV till 2009 so I guess that can go.

bbc iplayer and youtube are great things my kids are always asking to watch video's and songs on youtube

i also don't work because childcare would be too much, and it's ok saying there will be £69 a month left but she might buy the odd lunch out (ok she should bring her own but sometimes things don't go to plan), or it might be someones birthday and she has to put a few £ in the pot, and then theres xmas work do's, little things add up

drwho2011

quintwins wrote: »

bbc iplayer and youtube are great things my kids are always asking to watch video's and songs on youtube

i also don't work because childcare would be too much, and it's ok saying there will be £69 a month left but she might buy the odd lunch out (ok she should bring her own but sometimes things don't go to plan), or it might be someones birthday and she has to put a few £ in the pot, and then theres xmas work do's, little things add up

Very true, £18 cab fare (normally would be £13) yesterday because the night buses weren't running.

drwho2011

Ok so are a long hard talk with my wife we've come up with a solution.

I will take over the bulk of the expenses and she'll cover food, her phone, life insurance and debt repayments out of the Child Tax Credits/Child Benefit we receive it will be tight but I couldn't see any other way.

If she does some part time work she'll use some of it to pay down her loan and credit cards.

In meantime I will concentrate on clearing the debts jointly accumulated so have created a personal SoA

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....................

Monthly Income Details
Monthly income after tax................ 1363
Partners monthly income after tax....... 0
Benefits................................ 50
Other income............................ 0
Total monthly income.................... 1413

Monthly Expense Details
Mortgage................................ 787
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 45
Gas..................................... 34
Oil..................................... 0
Water rates............................. 43
Telephone (land line)................... 5
Mobile phone............................ 25
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 60
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 31
Contents insurance...................... 0
Life assurance ......................... 23
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1066


Assets
Cash.................................... 0
House value (Gross)..................... 170000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 170000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 140555...(787)......4.6
Total secured & HP debts...... 140555....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
CC1............................2200......60........17.9
CC2............................1600......49........12.9
CC3............................766.......23........17.5
Loan...........................3000......150.......0
Total unsecured debts..........7566......282.......-


Monthly Budget Summary
Total monthly income.................... 1,413
Expenses (including HP & secured debts). 1,066
Available for debt repayments........... 347
Monthly UNsecured debt repayments....... 282
Amount left after debt repayments....... 65

Personal Balance Sheet Summary
Total HP & Secured debt................. -140,555
Total Unsecured debt.................... -7,566


Using the snowball calculator I've decided to pay of the debts with every penny available

Debt.................Start Balance(£).................Interest.................Payment.................(£)End Balance
CC1.................2200..................................0..................................126..................................2074
CC3.................766..................................0..................................22.98..................................743.02
CC2.................1600..................................0..................................48..................................1552
Loan.................3000..................................0..................................150..................................2850


I should be debt free Dec 2013, in 23 months.

jayss

Best of luck.

amorge

Good luck, you've not included your child benefit which is approx 134 in your SOA....(I don't think!)

drwho2011

amorge wrote: »

Good luck, you've not included your child benefit which is approx 134 in your SOA....(I don't think!)

Its paid to my wife so not in my SoA.

chevalier

Hmm I think that splitting your money maybe a mistake. You had a negative value when you were having a joint SOA. now you have enough to pay your debts, but does she? Somehow you can't have just found the missing money by splitting your finances. Does this mean you might have missed something out?

dancingfairy

To be honest I would look at clearing one of the cards. You say you've got 600 in savings - well this would almost wipe out one of the cards. IF an emergency did pop up you could probably just put it back on the card?
Can you get a mortgage holiday for a month or 2 just to hammer the debts?
Best of Luck
df