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Our Situation SOA

amileigh
Posts: 17 Forumite
Hi everybody, I'm new to all of this and have enjoyed reading all the threads, thought I'd post my SOA to see if there's anywhere we can improve. I am 32 weeks pregnant with my first child, unemployed and living with my partner who works full time. We've always bought smart price/own brand food and got most clothes second hand but still manage to find ourselves short on money. I suppose we live comortably we don't have much debt but would really like to start saving since we're about to be a family.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1 Expected
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1000 Varies as he's on a rota but this is average
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 152
Electricity............................. 40
Gas..................................... 20
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 80
TV Licence.............................. 0
Satellite/Cable TV...................... 40 Virgin with internet inc.
Internet Services....................... 0
Groceries etc. ......................... 150 Again, varies but this is avg
Clothing................................ 20 Average monthly on ebay
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 We have a cat so would like to start getting insurance!!
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 952
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
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 1,000
Expenses (including HP & secured debts). 932
Available for debt repayments........... 68
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 68
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1 Expected
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1000 Varies as he's on a rota but this is average
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 152
Electricity............................. 40
Gas..................................... 20
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 80
TV Licence.............................. 0
Satellite/Cable TV...................... 40 Virgin with internet inc.
Internet Services....................... 0
Groceries etc. ......................... 150 Again, varies but this is avg
Clothing................................ 20 Average monthly on ebay
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 We have a cat so would like to start getting insurance!!
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 952
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
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 1,000
Expenses (including HP & secured debts). 932
Available for debt repayments........... 68
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 68
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
0
Comments
-
Also just discovered a debt my partner had been hiding from me of £800 for council tax in the past which needs paying off ASAP!0
-
Hi
I'll have a quick look through your SOA but you'll only be using this budget for the next 8 weeks or so no?
Once the baby is born you'll be able to factor in £82 CB bad Tax Credits since you will be classed as low income.
One thing I would suggest if your partner has a variable income. Always budget on his lowest possible wage. That way anything about this is a bonus and can be put towards saving/debt repayment.
N x0 -
I've noticed you have nothing in there for benefits but you're unemployed? No income support/JSA. You rent so no assistance with housing benefit?
N x0 -
That's right, we'll have to factor in nappies, formula etc but hopefully it won't be too much of a struggle with child benefit. I haven't kept track of where our money goes I'm very unorganised! We have nothing in the bank til fiance is paid on Friday but luckily we have enough food in
Thankyoux
0 -
I can't claim JSA as I don't have enough stamps for contribution based and we're in the middle of sorting out a Universal Credit claim but they're all over the place so not sure what will become of that, hopefully a big help0
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Hiya,
definitely look into the satellite package, for example, I have a freeview box (my old sky box) so free channels .then I have a package with talktalk -landline and broadband for about £20 a month .i don't use the landine phone for outgoing calls (unless they are Freephone numbers) I use my inclusive mobile minutes.
mobiles -you cannot afford to be spending this, try pay as you go, you'd probably halve that amount.Obviously you need to be a bit mindful of how you use them, ie, sometimes a text works out cheaper than a call etc.
think you may want to look into contents and life insurance, esp with a little one on the way. If anything happened to your OH, what would you do?
What would you do If you had fire/flood and had to replace things like beds/bedding, clothing, prams etc ?.even when renting you'd need a fair whack of cash to replace these things. Think the cat insurance isn't as important as these other two.
look on freecycle sites for cots and prams etc, and often facebook and netmums have baby equipment and clothing at good prices.
have you sorted out a payment plan for the council tax?
could you maybe do some work from home? have a look at the "up your income " board. Are you planning to work after little one is here?
good luckLIVE SIMPLY * GIVE MORE * EXPECT LESS * BE THANKFUL0 -
It was very stupid of us taking out the mobile contracts, all we can do is keep on top of them until the end, we do actually make good use of them I'd be lost without my iphone! But definitely sticking to PAYG once the contracts are up. The Virgin is also on a contract but was thinking of just having freeview and broadband when that finishes as we don't use all of the channels anyway. I have quite bad anxiety which makes work difficult for me but will be looking for work once baby is old enough for nursery. I didnt realise how careless we've been in terms of insurance, we'd be so screwed if anything big happened :eek: Are there any threads suggesting insurance policies etc? And the council tax we'll be paying off 100 odd every month until paid off, can't remember the exact amount.
Thanks so much for your advice really appreciate it x0 -
COuld you do surveys if you are at home? There is a thread called "boost your income" for suggestions.
Onepoll
Valued Opinions - it all helps:rotfl:0 -
:rotfl:0
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I thought all those survey sites were scams? Are they actually worthwhile? Will check that now, thanks again! x0
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