Statement of affairs, where can I cut back?

BrettMorganxD

I am not in debt, I would just like to know how to reduce my outgoings so more of my income can go into savings.

Income - anywhere from £860 - £1,000 net. Average being £980

Outgoings:

Rent - £220

Gas - £50 winter £20 summer. Put away in an envolope pay at post office evewry 3 month. Direct debit not possible as everyone gets paid different dates but it is in my name (one of the two roommates is yet to pay anything in 6 month fukin !!!!!).

Savings - £300

littlewoods - £50 but soon to go down to £20

Food - £40 for a month online shopping

Driving lessons - £80 per month.

Where could I cut back or alternativly generate more income. The driving lessons are compulsory so I can keep my job and move back in with my dad as my job is 40 mins away and no public transport gets me to work on time

sistafromanothermista

http://www.makesenseofcards.com/soacalc.html
Here is the link to the SOA calculator. If you post in this format it's a little easier to read....

McKneff

Brett, you need to do a proper SOA.

Someone will be kind enough to post a link.

But you really need to get this other person up to date with their payment, you are paying for this with yours.

BrettMorganxD

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 950
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 950

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 21
Rent.................................... 220
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 50
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 40
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).... 15
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........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 426


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
Hire Purchase (HP) debt ...... 120......(21).......0
Total secured & HP debts...... 120.......-.........-

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


Monthly Budget Summary
Total monthly income.................... 950
Expenses (including HP & secured debts). 426
Available for debt repayments........... 524
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 524

BrettMorganxD

McKneff wrote: »

Brett, you need to do a proper SOA.

Someone will be kind enough to post a link.

But you really need to get this other person up to date with their payment, you are paying for this with yours.

She will be evicted soon she hasn't bothered to pay her bloody rent either!.

£20 a month is what I asked off her and she still hasn't paid which is why i took it off direct debit, despite a discount I manage better when all monies go in an envolope then I pay at post office. She won't backdate anyway. It is either she is behind with rent has no money. Has to send money to her son back home.

Thing is she is an african full-time nurse they earn loads

BrettMorganxD

add to the above £300 which goes to savings automatically

McKneff

I dont think there is anything you can cut down on there to be honest.

You have over £500 disposable income.

Are ou sure you only pay £40 a month on groceries.

Do you not have any kind of insurance, contents for your home, etc

Do you rent rooms froma a landlord or something like just share a house.

Who is going to evict her, how are you going to get the fuel money.

BrettMorganxD

McKneff wrote: »

I dont think there is anything you can cut down on there to be honest.

You have over £500

Are ou sure you only pay £40 a month on groceries.

Do you not have any kind of insurance, contents for your home, etc

no. for some reason though the 200 left after savings of 300 is always hard to live on.

BrettMorganxD

McKneff wrote: »

I dont think there is anything you can cut down on there to be honest.

You have over £500 disposable income.

Are ou sure you only pay £40 a month on groceries.

Do you not have any kind of insurance, contents for your home, etc

Do you rent rooms froma a landlord or something like just share a house.

Who is going to evict her, how are you going to get the fuel money.

Probably not at all now.

It is through an estate agent rent is room for room in a houseshare

KxMx

BrettMorganxD wrote: »

no. for some reason though the 200 left after savings of 300 is always hard to live on.

Keep a spending diary and track every penny- newspapers, cans of coke ets, write it all down so you can see where it's going.

BrettMorganxD

the estate agent is evicting