SOA need to get mortgage back on track

Mortgage figures in this SOA is for paying interest only and i would dearly love to get this back on track , any advise on the best way to achieve this would be greatly appreciated
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,550.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 1,733.33
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 226.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58.33
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.64
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 387.84
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.45
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 1,060.00
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110.94
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.56
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87.46
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,509.33

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,764.34

Replies

  • R_P_WR_P_W Forumite
    1.5K Posts
    Ninth Anniversary 1,000 Posts Combo Breaker
    ✭✭✭
    What are you asking advice on? You monthly expenses are less than your income = good.
  • £700+ spare a month? Doesn't look like a problem unless your SOA is inaccurate.

    My suggestion is to keep a spending diary and re-do the SOA when you know where your money is really going.
    Thinking critically since 1996....
  • saver03saver03 Forumite
    651 Posts
    Part of the Furniture Combo Breaker Debt-free and Proud!
    ✭✭
    Hi your figures look good as you have so much left each month after your expenses. But how many people live in your house? You food and household shopping is way too high!
    LBM 14/12/06 £21,947.17 DEBT FREE 12/04/09
    MFW - December 2010 £76,199 - 4th February 2021 £37,360.90
  • SpiggleSpiggle Forumite
    1.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭
    pennywise2 wrote: »
    Mortgage figures in this SOA is for paying interest only and i would dearly love to get this back on track , any advise on the best way to achieve this would be greatly appreciated

    Need some info on family size, ages, etc.

    Statement of Affairs and Personal Balance Sheet
    Monthly Income Details
    Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,550.00
    Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 1,733.33 Does there need to be something put aside each month to cover tax, etc?
    State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 226.00
    Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Monthly Expense Details
    In Your Home
    Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45.00 How many? This seems high.
    TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
    Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 No cost here?
    Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58.33
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.64
    Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 387.84
    Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.45
    Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 1,060.00 This is an astronomical amount of money to be spending monthly on groveries. Check out the Grocery Challenge threads on the Old Style Boards.
    Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110.94
    Motoring & Public Transport
    Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480.00 How many cars/vehicles? Seems very high to me.
    Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.56
    Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87.46 Have you shopped around? This seems huge, I pay a less than a quarter of this for one car.
    Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ????? You obviously have a car so do you maintain it yourself? Parts would still cost money.
    Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Debt Repayments
    Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270.00 Interest rate? Total outstanding? May be better to clear before OPing the mortgage.
    Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Savings & Investments
    Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Family
    Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Entertainment
    Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00 This is high
    Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
    DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    Clothes, Health & Beauty
    Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00 Every month?
    Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    Education & Courses
    University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.00
    Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Big One Offs
    Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Odds & Sods
    Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00 As above, there needs to be something in here.
    Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,509.33

    Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,764.34


    Hi Pennywise2,

    I think there are some items you haven't fully considered so the advice to keep a spending diary is good. Also comments above on what in my humble opinion can be looked at for cutting.

    All the best,
    Spigs
    Mortgage Free October 2013 :T
  • samtobysamtoby Forumite
    2.4K Posts
    Eighth Anniversary 1,000 Posts Combo Breaker PPI Party Pooper
    ✭✭✭✭
    It's very hard to accurately give advice when we don't know how many are in your household and indeed your debts and interest rates.

    The food bill jumped out at me! :eek: is all I can say!
    3 Children - 2004 :heart2: 2014 :heart2: 2017 :heart2:
    Happily Married since 2016
  • Apologies folks for the slow reply , I,ve been out all day and many thanks for the responses .
    Family of 5 so hopefully this justifies the food bill a little .
    In the mortgage section of my SOA the figure quoted only includes paying interest only on a repayment mortgage , i feel i need to renegotiate a mortgage payment that will suit my budget ie possibly extending the amount of years to pay back in full .
    Might not be explaining myself properly here but hopefully this makes sense
    regards gixer08
  • [Deleted User][Deleted User] Forumite
    0 Posts
    MoneySaving Newbie
    perhapse repost your SOA after formating it for MSE?

    - Also, don't you pay Council tax?

    In addition to this there seems to be a few things missing from your SOA
  • Originally Posted by pennywise2 viewpost.gif
    Mortgage figures in this SOA is for paying interest only and i would dearly love to get this back on track , any advise on the best way to achieve this would be greatly appreciated

    Need some info on family size, ages, etc.

    Statement of Affairs and Personal Balance Sheet
    Monthly Income Details
    Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,550.00
    Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 1,733.33 Does there need to be something put aside each month to cover tax, etc?
    State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 226.00
    Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Monthly Expense Details
    In Your Home
    Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45.00 How many? This seems high. 2 phones
    TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
    Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 No cost here?incuded in sky
    Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58.33
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????live in n ireland , no water charges yet
    Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.64
    Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 387.84
    Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.45
    Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 1,060.00 This is an astronomical amount of money to be spending monthly on groveries. Check out the Grocery Challenge threads on the Old Style Boards.
    Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110.94
    Motoring & Public Transport
    Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480.00 How many cars/vehicles? Seems very high to me.2 vehicles
    Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.56
    Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87.46 Have you shopped around? This seems huge, I pay a less than a quarter of this for one car.1 car 1 van commercial
    Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ????? You obviously have a car so do you maintain it yourself? Parts would still cost money.your quite right i will adjust this
    Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Debt Repayments
    Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270.00 Interest rate? Total outstanding? May be better to clear before OPing the mortgage.on 2 cards i will check the interest rate on these thanks
    Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Savings & Investments
    Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Family
    Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Entertainment
    Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00 This is high includes sky , house phone and internet
    Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
    DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????dont drink out
    Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????your right i overlooked takeaways , will revise this
    Clothes, Health & Beauty
    Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00 Every month? for 4 of us
    Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 ?????
    Education & Courses
    University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.00
    Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Big One Offs
    Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Odds & Sods
    Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00 As above, there needs to be something in here.tax is deducted at source at 20 %
    Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,509.33

    Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,764.34
  • Domino9 wrote: »
    perhapse repost your SOA after formating it for MSE?

    - Also, don't you pay Council tax?

    In addition to this there seems to be a few things missing from your SOA

    No council tax to pay , live in n ireland .
    Could you explain the formatting of SOA for MSE a little more

    thanks gixer08
This discussion has been closed.
Latest MSE News and Guides