My SOA...

Q1122

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1300

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 11.5
Groceries etc. ......................... 50
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 80
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 300
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 276.5


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


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 300......(0)........0
Total secured & HP debts...... 300.......-.........-

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


Monthly Budget Summary
Total monthly income.................... 1,300
Expenses (including HP & secured debts). 276.5
Available for debt repayments........... 1,023.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 1,023.5

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

rising_from_the_ashes

Sorry but not quite sure what the issue is?

Your outgoings are very low - do you live at home?

Aside from that - there are lots of things missing but you only have £300 of debt according to the SOA so what's your query?

mildredalien

Well, you have plenty of disposable income if your SOA is correct as you have few outgoings!

What is your secured debt?

HappyMJ

And this is why I would charge my adult child at least £40 a week in rent/board. As per my previous threads on this matter. More disposable income than me. Although if my daughter was on about £300 a week I'd up the board to about £60 a week at least.

Pay your parents more and share the real costs of living.

reallyAnnoyed_2

You have put £300 for entertainment alone YET your total monthly expense is coming to £276.50! Should it not be £576.50?

Q1122

Yes.. sorry, I added the entertainment after I used the SOA Calc..

mildredalien

Still not sure what your query is - you have £300 of debt which you could pay off within one month. Do you actually have £700 left each month? You never buy anyone a present, buy clothes or get a haircut?

wobblylemon

Q1122 wrote: »

Hi,

I keep going into my overdraft each month to approx £500.00.

I am going to try and cut this down but does anybody have any good ideas on how to clear an overdraft?


Thanks!

This ^^^ is what you have said in a different thread but your SOA doesn't reflect this.

I'm not sure what you are hoping people will help with?

redpete

In August last year you were advised to cut the £300 entertainment bill - what else do you expect to be told now?

mrsh2012

Out of curiosity what is the 300 entertainment money spent on?