Please help - really need to sort myself out **SOA ADDED**

Tabatha_Kitten

rachymoo wrote: »

I just have no idea how to make it clearer, these separate finances make it all very confusing.

I think this is where you are going wrong.
I will never understand all this "her money, his money, her debts, his debts"
You're a couple.
A team.
You share a house.
You have had children together.
You need to sit down together and work your problems through as a team.

mum2one

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.................... 1 (my partner's)
Monthly Income Details
Monthly income after tax................ 1028
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1028
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 540
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 40 (see below)- even consider pay and go, - there are some gd deals out there, we're in process of changing to gaff gaff - even if you put on £15 per month, (maximum) youre get fab deals
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 10 -that looks really low for clothes
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 35 (will increase to 100 in September)- I'd class that as £100 now, get into pratice
Other child related expenses............ 15 - does that cover everything
Medical (prescriptions, dentist etc).... 0 - you have no costs for here
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10 - that seems really low - £120 per year for everything
Haircuts................................ 5
Entertainment........................... 20 -that seems really cheap
Holiday................................. 0 - whether its holiday or day trips u should have something here
Emergency fund.......................... 0
Total monthly expenses.................. 675

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly.. .APR
Next...........................314.63....25.85.... .25.99
Grattan........................515.92....25.8..... .29.9
Littlewoods....................971.74....15.8..... .0 (see note below)
Vanquis........................1074.22...65.58.... .39.9 (need to check this)
Capital One....................495.11....17.53.....29.9 (need to check this)
Total unsecured debts..........3371.62...150.56....-

Monthly Budget Summary
Total monthly income.................... 1,028
Expenses (including HP & secured debts). 675
Available for debt repayments........... 353
Monthly UNsecured debt repayments....... 150.56
Amount left after debt repayments....... 202.44
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,371.62
Net Assets.............................. -3,371.62
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

without adding in Littlewoods you should have over £200 per month spare, what I would suggest is keep a spending diary even for a couple of weeks or a month, even if its a little notepad, and write down everything you spend, whether its 50p on a packet of chewing gum or £2 for the bus.

Maybe in a months time redo the SOA as this should give a more accurate figure.

Just a thought but do you have to put any extra towards the household bills as that may be eating into the "spare" xx

mildred1978

rachymoo wrote: »

.

I don't have any travel costs as I travel to and from work with my partner, and his petrol costs are paid by his employer


x

That isn't usually allowed. Hope he's paying the tax on that!!

gizmo111

Groceries are 0?