My SOA

nbryan1764

Can anyone please help or advise. I was made redundant six months ago and I now no longer get any JSA. My SOA is below and as you can see there is far more going out than coming in. Any advice would be really appreciated as I feel I dont know where to turn any more. The creditors have not been too sympathetic.

Statement of Affairs and Personal Balance Sheet[/b]
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 130
Other income............................ 0
Total monthly income.................... 1180
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 216
Rent.................................... 200
Management charge (leasehold property).. 0
Council tax............................. 94
Electricity............................. 90
Gas..................................... 70
Oil..................................... 0
Water rates............................. 65
Telephone (land line)................... 20
Mobile phone............................ 70
TV Licence.............................. 10
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 200
Clothing................................ 25
Petrol/diesel........................... 80
Road tax................................ 15
Car Insurance........................... 65
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 110
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)...... 50
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1445

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 4500.....(216)......10
Total secured & HP debts...... 4500......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
cc.............................6000......100.......18
cat............................3000......50........26
Total unsecured debts..........9000......150.......-

Monthly Budget Summary
Total monthly income.................... 1,180
Expenses (including HP & secured debts). 1,445
Available for debt repayments........... -265
Monthly UNsecured debt repayments....... 150
Amount short for making debt repayments. -415
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -4,500
Total Unsecured debt.................... -9,000
Net Assets.............................. -9,500

bodmil

Those bills can't be right, gas, elec and water are very high! Likewide mobile phone!

Rylynn

Can I ask what the other travel is?

nbryan1764

The gas and electric combined is £160 and water rates are £65

Other travel is for my partners bus pass for work

Rylynn

bodmil wrote: »

Those bills can't be right, gas, elec and water are very high! Likewide mobile phone!

The mobile phone I agree is too high, but my gas is £70 and there are three of us in a three bedroomed house and believe me we are really careful. The electric does seem very high, and mine was, but I got one of those meter things and when we saw how much it went up when certain things were turned on, or left on like lights with no one in the room our bill came down, as even my teenage son was shocked.

Also you have nothing against hair cuts? not that you need to add anything if you do not have hair cuts.

Rylynn

Okay so you partner buses to work, can I ask what the car is used for and could you not sell it and buy something much cheaper? I take it you owe money for the car, if you sold it would you get enough to pay this off?

bodmil

Gosh my gas and elec us £45 combined and we are very careful also, blankets on the beds and for watching telly etc, but that is with an electric shower also. £160 a month sounds very wrong!

Trajal

You have listed travel for partner's bus pass but also listed as your partner doesn't earn anything.

TV License is likely to be £12ish not £10 - stick to using proper numbers initially without rounding up or down. They can add up and leave you in a difficult situation some months.

Definitely need to talk to your mobile provider about the tarif you are on.

Check the gas and electric provider with the MSE energy club to ensure you are getting the best possible deal for your consumption.

£50 a month seems high for presents, I'd suggest a token saving of £5 a month until you're in a better position. This will cover cards and postage which is about as far as you can go while you're in financialy difficulty (and even then, questionable).

You do need to budget for haircuts, entertainment etc in my view, again even a token £5 or so a month will do it but it should be included.

Likewise something for prescriptions, and definitely a small amount each month towards an emergency fund which will act as a buffer for anything you forget.

You can't really afford sky at this point - you should ask them if you can cancel and take advantage of freeview if possible.

Rylynn

bodmil wrote: »

Gosh my gas and elec us £45 combined and we are very careful also, blankets on the beds and for watching telly etc, but that is with an electric shower also. £160 a month sounds very wrong!

Really who are you with, I need to contact them as mine is over £100 for both.

I also think the mistake has been made that the partner does work as this person has been made redundant, well that is how I read his or her post.

Just a thought do you get working and child tax credits each month? if not should you not be claiming them?

gizmo111

Income is quite low so you should be entitled to some child tax credits.

Rylynn

gizmo111 wrote: »

Income is quite low so you should be entitled to some child tax credits.

That Gizmo is what I thought. I take it the other benefit shown is Child Benefit?