Please help with budgeting ...

welshsarah1

Hi in a nutshell. My nan passed away. me and my dad never got on... my nan brought me up since I was 7. The last yr I took care of her, taking her to her appointments. The funeral came to 2500, I organised it. I wasnt thinking at the tie just wanted to give her a good send off. I applied for DWP and because my Dad wasnt distant from my nan. They denied me anything towards it. Iv asked my dad to help out but he said he couldnt afford anything. so we had a credit card out and paid for it on that.... so I owe 2500. Its a lot of money. the credit card is 18 months no interest so if I pay it off by then it wont cost me interest at least. Im a SAHM, hubby works 30+ hours a week (was on 40 but made redundant and grabbed anything available). Anyone got a statement of allowances link I can crack on with? xxx Thanks x

matttye

http://www.stoozing.com/calculator/soa.php

welshsarah1

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 852
Benefits................................ 1317
Other income............................ 0
Total monthly income.................... 2169

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 40
Electricity............................. 60
Gas..................................... 70
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 20
Internet Services....................... 5
Groceries etc. ......................... 400
Clothing................................ 100
Petrol/diesel........................... 80
Road tax................................ 17
Car Insurance........................... 42
Car maintenance (including MOT)......... 35
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 90
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................................ 25
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1602


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................2500......139.......0
Total unsecured debts..........2500......139.......-


Monthly Budget Summary
Total monthly income.................... 2,169
Expenses (including HP & secured debts). 1,602
Available for debt repayments........... 567
Monthly UNsecured debt repayments....... 139
Amount left after debt repayments....... 428

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,500
Net Assets.............................. -2,000

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

matttye

Do you actually have £400+ left after debt repayments? If so, along with your £139, you should be able to pay off the credit card in 5 months - well within the 18 month period.

theoretica

If you don't have the £400 left you coud look at your past bank statements to see where your SOA doesn't match reality.

dancingfairy

Do you think you might get anything from the estate? It seems harsh that you have ensured that she is taken care of but have been landed with this debt. Even if you weren't due to inherit, normally funeral bills come out of the estate so one would hope that family members would act reasonably and offer to pay the bill before the estate is settled (but it doesn't sound like they will in your case?).
I'm sorry things are so rubbish for you and hope you can take comfort in your memories and the knowledge that you have done the right thing for her.
Do you have anything you can sell to help at all? Any old childrens toys in good condition or childrens clothes?
df

Ninno820

Hi - check out this free trial piece of software - it should help with your budgeting


https://www.youneedabudget.com/

[Deleted User]

welshsarah1 wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 852
Benefits................................ 1317
Other income............................ 0
Total monthly income.................... 2169

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 40 - This seems low. Is it the total amount, or your half?
Electricity............................. 60 - This seems high. Check U-Switch for a better deal.
Gas..................................... 70 - This seems high. Check U-Switch for a better deal.
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 20 - Dump and go Freeview/Freesat.
Internet Services....................... 5
Groceries etc. ......................... 400 - Seems a bit high. Try to reduce a bit.
Clothing................................ 100 - £1,200 per year is a lot. Try to reduce.
Petrol/diesel........................... 80
Road tax................................ 17
Car Insurance........................... 42 - Is there a reason why this is so high (new/young driver, recent claims etc.)? Check comparison sites at renewal.
Car maintenance (including MOT)......... 35
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 90
Medical (prescriptions, dentist etc).... 0 - Never?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 - You need this. Cost about £10.
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 25
Entertainment........................... 0 - Never?
Holiday................................. 40
Emergency fund.......................... 0 - You need something in here.

Total monthly expenses.................. 1602


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................2500......139.......0
Total unsecured debts..........2500......139.......-


Monthly Budget Summary
Total monthly income.................... 2,169
Expenses (including HP & secured debts). 1,602
Available for debt repayments........... 567
Monthly UNsecured debt repayments....... 139
Amount left after debt repayments....... 428

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,500
Net Assets.............................. -2,000

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

As stated above, gas an electric seem a bit high, at £1,560 per year.

Try to get a better deal, and/or reduce usage, eg. always turn off lights in empty rooms, turn thermostat down a few degrees, dry laundry on running radiators.

Batch cooking, dropping a brand, etc. will help reduce grocery costs.

For clothing, buy at discount stores, Ebay, etc. If possible, hand me downs between children, etc.