Statement of Affairs and Personal Balance Sheet

[Deleted User]

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 565
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 565

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 65
Electricity............................. 30
Gas..................................... 0
Oil..................................... 0
Water rates............................. 29.49
Telephone (land line)................... 6.79
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 9.5
Groceries etc. ......................... 50
Clothing................................ 20
Petrol/diesel........................... 30
Road tax................................ 11.25
Car Insurance........................... 49.49
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 7.55
Contents insurance...................... 7.55
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 393.62


Assets
Cash.................................... 300
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 800

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card 1..................2202......100.......39.9
Credit Card 2..................1183.18...45........39.9
Credit Card 3..................699.27....20........26.9
Total unsecured debts..........4084.45...165.......-


Monthly Budget Summary
Total monthly income.................... 565
Expenses (including HP & secured debts). 393.62
Available for debt repayments........... 171.38
Monthly UNsecured debt repayments....... 165
Amount left after debt repayments....... 6.38

Personal Balance Sheet Summary
Total assets (things you own)........... 800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -4,084.45
Net Assets.............................. -3,284.45

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

Tixy

Hi

Are you entiltled to any benefits at all?
How many hours do you work? is there any scope to increase your hours at this job? or to get a second job as well?

Deleted_User wrote: »

ent.................................... 0 do you not pay any rent? or is it paid by benefits.
Management charge (leasehold property).. 0
Council tax............................. 65 can you claim any benefits towards this?
Electricity............................. 30
Gas..................................... 0
Oil..................................... 0
Water rates............................. 29.49 this looks very high for someone who lives alone. is this unmeasured? can you switch to a meter?
Telephone (land line)................... 6.79
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 9.5
Groceries etc. ......................... 50
Clothing................................ 20
Petrol/diesel........................... 30 you are not doing many miles a month, is a car essential? would it be cheaper/possible to use public transport?
Road tax................................ 11.25
Car Insurance........................... 49.49
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 7.55 do you rent somewhere? or own a property? if you rent how come you pay buildings ins?
Contents insurance...................... 7.55
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 393.62


Assets
Cash.................................... 300 is this saved for something in particular? it would be better paid towards one of your very high APR debts.
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 800

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card 1..................2202......100.......39.9
Credit Card 2..................1183.18...45........39.9
Credit Card 3..................699.27....20........26.9
Total unsecured debts..........4084.45...165.......-
Are you just paying the minimums on all these?

Monthly Budget Summary
Total monthly income.................... 565
Expenses (including HP & secured debts). 393.62
Available for debt repayments........... 171.38
Monthly UNsecured debt repayments....... 165
Amount left after debt repayments....... 6.38

[Deleted User]

Tixy wrote: »

Hi

Are you entiltled to any benefits at all?
How many hours do you work? is there any scope to increase your hours at this job? or to get a second job as well?

I'm currently working only my contracted hours. There is no other available hours at my work at the moment. Although I have done plenty of overtime in the past. I would do a second job if I can find one.

I've not fully checked up on benefits but I did run a test once for Working Tax Credits but it said I wasn't entitled.

do you not pay any rent? or is it paid by benefits.

I live in a house I inherited. Half own with my sister.

can you claim any benefits towards this?

I get single persons council tax discount. Not applied for any more benefits yet.

this looks very high for someone who lives alone. is this unmeasured? can you switch to a meter?

Unmetered water rates.

you are not doing many miles a month, is a car essential? would it be cheaper/possible to use public transport?

I start work early before the first bus runs. Work is 5 miles away. Also use car for visiting friends/family.

do you rent somewhere? or own a property? if you rent how come you pay buildings ins?

Insurance for is combined for building and contents. I just split it for the SOA.

is this saved for something in particular? it would be better paid towards one of your very high APR debts.

Not saved for anything but my savings used to be alot bigger. I try to keep some money back for emergencies.

Are you just paying the minimums on all these?

Yep, just min payments or there abouts.

awayinchina

have you tried to contact the credit card to see if they can offer 0% for a 6 month period etc? then you might get a chunk paid off?

[Deleted User]

awayinchina wrote: »

have you tried to contact the credit card to see if they can offer 0% for a 6 month period etc? then you might get a chunk paid off?

Not yet but I'm going to with the biggest one (Vanquis).

asparagus1968

hi,any chance you could rent a room or two to help with debts?
you can earn quite a bit from this before you need to pay any tax.
look up "rent a room scheme"

paulmapp8306

Get a push bike for work? 5 miles isnt far by bike and it helps keep you fit as well. That would save you over £100/month plus give you a little (from selling the car) to pay off some debts Ditch the mobile - go PAYG which will save £20/month.

you need to budget some for emergencies though.