7.5k to pay off by 2016..fingers crossed!

nicnacnoo

well aren't I rubbish with this!

Im no better off and not much less in debt but im happy and have yet another SOA to work off. I originally thought I would be debt free in 2016 but my snowball tells me that it will actually be 27/03/2017.
Ill put my SOA on here for my reference, not much has changed apart from revised APR's, more child expenses because they are doing more out of school now they are older and DD's sperm donor isnt regular with CSA payments so I dont count that anymore so when it arrives its a bonus!

nicnacnoo

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 430
Partners monthly income after tax....... 180
Benefits................................ 987
Other income............................ 134
Total monthly income.................... 1731

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 340
Management charge (leasehold property).. 0
Council tax............................. 25
Electricity............................. 37
Gas..................................... 54
Oil..................................... 0
Water rates............................. 19
Telephone (land line)................... 20
Mobile phone............................ 40
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 9
Presents (birthday, christmas etc)...... 80
Haircuts................................ 5
Entertainment........................... 40
Holiday................................. 50
Emergency fund.......................... 20
saves/lottery........................... 28
uniform................................. 40
overdraft charges....................... 12
my pocket money......................... 80
school dinners.......................... 40
uniform................................. 40
sw...................................... 20
Total monthly expenses.................. 1301.12


Assets
Cash.................................... 194.51
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 194.51

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................3513.65...138.......15.7
card...........................2173.29...60........0
overdraft......................1000......0.........18.3
overdraft2.....................500.......100.......18.3
Total unsecured debts..........7186.94...298.......-


Monthly Budget Summary
Total monthly income.................... 1,731
Expenses (including HP & secured debts). 1,301.12
Available for debt repayments........... 429.88
Monthly UNsecured debt repayments....... 298
Amount left after debt repayments....... 131.88

Personal Balance Sheet Summary
Total assets (things you own)........... 194.51
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,186.94
Net Assets.............................. -6,992.43

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

ViolaLass

nicnacnoo wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1 Should this be two?
Number of children in household......... 2
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 430 could you do more hours?
Partners monthly income after tax....... 180 could your partner do more hours?
Benefits................................ 987 You haven't said how old your children are (and you don't have to) but have you thought about which of your benefits you may lose eventually e.g. when they hit 18?)
Other income............................ 134
Total monthly income.................... 1731

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 340
Management charge (leasehold property).. 0
Council tax............................. 25
Electricity............................. 37
Gas..................................... 54
Oil..................................... 0
Water rates............................. 19
Telephone (land line)................... 20
Mobile phone............................ 40 For one phone? Four? Could cut this but depends how many you're covering.
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0 If you're running a car, why nothing in these next few categories?
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 9 covering what?
Presents (birthday, christmas etc)...... 80 still £1000 a year!
Haircuts................................ 5
Entertainment........................... 40
Holiday................................. 50 £600 on a holiday? Needed?
Emergency fund.......................... 20
saves/lottery........................... 28 Ditch
uniform................................. 40 £500 a year? how come?
overdraft charges....................... 12
my pocket money......................... 80
school dinners.......................... 40
uniform................................. 40
sw...................................... 20 What is this?
Total monthly expenses.................. 1301.12


Assets
Cash.................................... 194.51
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 194.51

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................3513.65...138.......15.7
card...........................2173.29...60........0
overdraft......................1000......0.........18.3
overdraft2.....................500.......100.......18.3
Total unsecured debts..........7186.94...298.......-


Monthly Budget Summary
Total monthly income.................... 1,731
Expenses (including HP & secured debts). 1,301.12
Available for debt repayments........... 429.88 Do you really have this much left over each month? Are you throwing it all at the debt?
Monthly UNsecured debt repayments....... 298
Amount left after debt repayments....... 131.88

Personal Balance Sheet Summary
Total assets (things you own)........... 194.51
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,186.94
Net Assets.............................. -6,992.43

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

Comments in the text above.