My SOA

NewtUK

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 227.00
Other income............................ 0
Total monthly income.................... 227.00

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 15.00
Electricity............................. 16.00
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 19.99
Mobile phone............................ 15.00
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100.00
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
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 ......................... 5.65
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15.00
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 186.64

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts

Unsecured Debts[/b]
Description....................Debt......Monthly...APR
Welcome (old)..................1700......1.........0
Vodafone (not paying)..........113.......0.........0
Provedent(not paying)..........261.......0.........0
Total unsecured debts..........2074......1.........-


Monthly Budget Summary[/b]
Total monthly income.................... 227
Expenses (including HP & secured debts). 186.64
Available for debt repayments........... 40.36
Monthly UNsecured debt repayments....... 1
Amount left after debt repayments....... 39.36

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,074
Net Assets.............................. -2,074
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You will notice I have put my rent as 0. This due to my rent being £261 every 4 weeks and the money I get from the housing is £261 every 4 weeks too. My rent used to be £340 a month. But as my landlord is a friend he accepts £261 every 4 weeks as it covers
his morgate....just!

Council tax: This covers the current year and my council debts.

Electricitry: I understand this is very low. But it is correct. £16 a month max. Normally a little less.

Gas: I do have gas in the house. But stopped using it in February of this year to save money. Now I am paying £0 a month due to no standing charge.

Water: I do not have mains water anymore. I asked to be turned off in May of this year to save money too. I get free bottled water to flush the loo and have strip down washes.

TV Licence: None due to having no "live" TV in the house. I use catchup for everything I watch.

Internet: This is £0 as it's in with my home phone.

Entertainment & clothing are £0. This is due to me earning Amazon vouchers online and I use these vouchers for t-shirts, jeans & my DVD's all from Amazon.
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I don't know where to put this so i will say it here. I am self employed working from home. I do not pay myself and I live on £227 working tax credit. The company is trading at a £40 a month loss and I am putting £40 every 4 weeks into the company account. just to brake even. I have not including this £40 in my SOA as I didn't know where to stick it. BUT it is in my own spreadsheet budget.

Last year the company was trading as a £60 a month loss. This year it's a £40 a month loss and my accountant said next year we will brake even so i will not be putting any money into it myself.

Vodafone

Hi NewtUK,

I'll reply to the Vodafone sides of things here in a moment.

Thanks,

Lee

Web Relations

Vodafone UK

happycamel_2

The obvious answer (I know that's not the same as it being easy) is to up your income. Can you make changes to your business so it turns a profit, is your business plan realistic?

Can you get a job alongside or instead of your business? Depending on your skill set you might be able to work in the same field as your business but for someone else, alternatively delivery driving is flexible. Walking down my high street today several of the shops were advertising vacancies and my local Tesco's always want internet order pickers.

19lottie82

Would you not be better chucking the towel in with this company and trying to get a job that will pay you a living wage?

Until then ditch the £15 a month for presents and £5 off for life insurance. Why do you need the latter anyway?

somethingcorporate

Landline looks pricey, are you sure it's £20pm?

datlex

Elec doesn't seem too low. I'm guessing you have become an expert in energy efficiency. Do you have solar panels? My elec is similar each month to what you are paying and I have those.