My S.O.A

sweetpea26

Thats brilliant braddy

Keep selling what you don't need and you will see great results very quickly.

braddy970

Thanks sweetpea x I've got 50 items on e3ay atm, going to try and put more on this weekend or re list the ones that don't sell x Only 2 with bids on so far but you never know xx

Aria`s_Tail

Might sound a bit odd but have you had your gas and electric meters checked for previous debt? Sometimes they take money off every topup and you don't even notice it?

braddy970

Hi Aria's Tail, there was debt on the gas meter of around £80 which we paid and then received the money back later but that was all xx

braddy970

Wow havn't been on here for a while so thought I would update everyone.. I got myself a job woop woop, I had all the interviews in March/April and then started at the end of April so I have been very busy with that, I am only part time but there has been lots of hours going this month so I have doubled my wage ready for Christmas. I managed to pay off the argos and wonga, still have halifax and mbna, the mbna is on 0% until July and I have been sending extra where I can How is everyoe else?

Verbatim

Well done. Things look much better. Are you saving for something special?

asparagus1968

wow, you have done well, but then you seem to have a great attitude.
have a lovely christmas

braddy970

Thanks guys, part of the savings is the £500 emergency fund that I read on here was a good place to start, I actually have to update my signature sometime today, we was going to try and save for a house deposit while paying off the debts, which seems to be working well for us.. nothing has defaulted etc we've managed to pay the minimum and extra each month so my noodle report says we're both on 3/5, which I suppose isn't too bad at the moment. Hopefully as the total balances decrease that number will increase. The only thing I seem to struggle on is that I get paid monthly and my partner gets paid weekly, if he was paid monthly I think it might be easier to budget things and put money aside. I may update my S.O.A some time today x

Verbatim

Thanks for updating. It's lovely to see a young couple doing so well.

braddy970

Here is my new S.O.A - tried to be as honest as possible etc

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

Monthly Income Details
Monthly income after tax................ 600
Partners monthly income after tax....... 1740
Benefits................................ 183.8
Other income............................ 0
Total monthly income.................... 2523.8

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 80
Gas..................................... 40
Oil..................................... 0
Water rates............................. 45.52 (this is weekly £11.38, I believe I get a few months break)
Telephone (land line)................... 45 (This is for unlimited broadband, line rental, and a tv service which was £10 that my partner wanted, I rang up when my contract ended as I was paying nearly £60 for just linerental and u/l broadband so they gave me a discount)
Mobile phone............................ 27.5 (This is for 2 mobile phones just sim cards now a big reduction from before.. My partners is £12.50 and mine is £15)
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 160 (Just under £40 per week at ALDI, with nappies, wipes lunches etc everything .)
Clothing................................ 10 (this goes into savings)
Petrol/diesel........................... 160
Road tax................................ 20
Car Insurance........................... 125.66
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 6.66
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 40( very frugal atm, we don't spend this but I have put £40 down as £10 a week but we havn't been out in weeks/months so I could say it is £10 for the telly that the kids watch for the movies:)
Holiday................................. 0
Emergency fund.......................... 250
Total monthly expenses.................. 1772.46


Assets
Cash.................................... 900
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000 - around this amount with the tyres and all the work it's had done.
Other assets............................ 1000 - A classic car and a tractor
Total Assets............................ 2900
(I have alot around the house, 2 laptops for work,1 main and one spare.. my old laptop that the son uses and lots of other things that could make a fair bit)

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
mbna...........................3099.99...55........0 (I know this has gone up since my last s.o.a but it was needed at the time and got us out of a sticky hole so I am trying to send a fair chunk each month to this.)
halifax........................847.......45........0
Total unsecured debts..........3946.99...100.......-


Monthly Budget Summary
Total monthly income.................... 2,523.8
Expenses (including HP & secured debts). 1,772.46
Available for debt repayments........... 751.34
Monthly UNsecured debt repayments....... 100
Amount left after debt repayments....... 651.34

Personal Balance Sheet Summary
Total assets (things you own)........... 2,900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,946.99
Net Assets.............................. -1,046.99

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