here is my soa :(

specialkthefirst

i am 21, a single mum and a full time student..... and i just dont know what to do!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1i need this to get to uni and drop and collect son from nursery

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 500
Other income............................ 130get this from sons dad (£30 a week)
Total monthly income.................... 630

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 155
Rent.................................... 0 council pay this
Management charge (leasehold property).. 0
Council tax............................. 0get this free as im a full time student
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 12.5
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 160
Clothing................................ 10
Petrol/diesel........................... 40
Road tax................................ 10
Car Insurance........................... 55
Car maintenance (including MOT)......... 0
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 6.5
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15
Entertainment........................... 25
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 735


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 250
Other assets............................ 0
Total Assets............................ 250


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 0........(155)......0
Total secured & HP debts...... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
k and co.......................300.......38.5......0this was for a laptop i needed for uni
Total unsecured debts..........300.......38.5......-


Monthly Budget Summary
Total monthly income.................... 630
Expenses (including HP & secured debts). 735
Available for debt repayments........... -105
Monthly UNsecured debt repayments....... 38.5
Amount short for making debt repayments. -143.5

Personal Balance Sheet Summary
Total assets (things you own)........... 250
Total HP & Secured debt................. -0
Total Unsecured debt.................... -300
Net Assets.............................. -50

McKneff

What are 'other child related expenses'

How much does the father earn, you may be as well going through the CSA - he will have to pay 15% of his earnings.

A water meter, if yo are allowed may save you a tenner a month.

specialkthefirst

Other child expencises are things like nappys wipes and a top of to this nursery (uni pays most but there is a shortfall)

Its so frustrating! I am trying to study to get a good job to provide but I feel like I'm banging my head agaisnt a brick wall! If I didn't go uni I wouldn't have all the extra expence that comes with it like the need for a car and the childcare ect. I would be better off just being a stay at home mum...but then ill never get a good job and get out of this mess?!!!

specialkthefirst

His dad doesn't earn a lot he gives me more money than he has to x

paulwellerfan

do you really spend 160 on clothes?
And only 1 on food?

squif33

Have you tried applying to your college/uni's hardship fund?

McKneff

paulwellerfan wrote: »

do you really spend 160 on clothes?
And only 1 on food?

I think probably just a transposition, thats why I didnt say anything.

specialkthefirst

Oops that was a typo! 160 on groceries and 10 on clothes

I have applied but bcos its nearly the end of the year they are all out of budget. I will beable to apply in the new year (september) to the bursery find x

I have tried to up my income with eb@y ect and made a bit but I have run out of stuff to sell lol! X

Debt-Free-Dave

What's your long term career plan and how is your current education going to help achieve this?

rising_from_the_ashes

specialkthefirst wrote: »

Other child expencises are things like nappys wipes and a top of to this nursery (uni pays most but there is a shortfall)

If your groceries are £160 then this should be more than enough to cover other things like nappies as well.

Try popping over to the Old Style Board and look at the Grocery Challenge for tips - families of 4 can manage on £220 (incl toiletries, cleaning stuff & nappies) so I'm sure you'd be able to shave a bit off this.

Al*di nappies are apparently brilliant - much better than either sm own brand or the "real" branded ones & cheap!

Also, car maintenance - you need to put something in here to cover servicing, repairs & MOT etc. Is there no public transport where you are as (I'm sorry to say) that trying to afford a car when a f/t student on benefits is a big problem.

Also missing is contents insurance which is a must (and will only be a few £s).

Haircuts you should be able to get down a bit, ask a friend/relative or you could cut your child's hair and switch to an easy/low maintenance cut for you so it doesn't need done as often.

I've seen several people on various threads in similar situations to you and they have been given laptops to study through the Uni - maybe something you could look into (but not sure if you can return the one you have?)

Above all, try to keep plodding on - I know it must feel never ending just now, but finishing your course and securing a better job and future for yourself and your child will be worth it in the long run.

Do you have any friends/relatives that could maybe watch the LO in the evenings so you could get a p/t job?

squif33

Ah that's such a shame- September is a long time to wait . The only other thing that came to mind was trying for a grant from Family Action. http://www.family-action.org.uk/section.aspx?id=1037

Family Action Grants Programme

Family Action offers educational funding through the following grants programmes:
Family Action’s Educational Grants
There are a range of educational grants available through Family Action’s grants programme. Applicants must be studying at a college or university that is affiliated to EGS (Educational Grants Service).
Grants are primarily targeted at families and individuals with low incomes, particularly those living on benefits. Preference will be give to those studying courses likely to lead to improved employment prospects.
Grants are available to those who are British nationals by birth (this means those who at birth had British Citizenship) OR asylum seekers, refugees and those with leave to remain.
Grants are available to people living across the UK. While there are no set limits, in general grants are made for £200 to £300. Please note that we can only consider one educational grant application from the same applicant per academic year.

There should also be someone within the uni who you can talk to about this e.g. a welfare advisor. I would expect that it is having a negative impact on your studies and they may be able to advise on other ways to reduce the debts/ increase your income.

Hope this helps, and good luck with your studies. (I am also a single parent and I graduated last year) Claire x