Partner works but struggling to get by because of me.

forgotmyname

£76 a month on mobiles... Should be easy to reduce that by at least £20 a month.

£50 a month on TV. Watch the stuff online for free.

£115 a month on Gas/Electric is high.

£260 on groceries. £50 - £100 knocked off that after reading the old style boards and other money saving ideas.

£230 a month car tax? I presume thats a year so only £20.

As mentioned your figures look OK and leave you enough to save and have a good time. Why are you struggling?

Items not listed?

lolls89

lazer wrote: »

Is your husband claiming all his allowable expenses on the SA form?


My husband, is also in the building industry working under CIS, and he generally gets a refund of £2k - £3k each year, as the 20% deduction is taken off all income and doesn't allow to travel costs etc.


This refund could be used to repay some of your debts.


In terms of your SOA - the debt section doesn't really make sense, you have included the minimum repayments but not the actual debt amount.


In terms of the car - it is only worth £2k but repayments are £390 a month - is that right?

Yeah he gets his tax rebate every year, usually about 2k but last year it paid account fees on an old bank account and paid some missed payments.

I wasn't sure of the amounts, just what he pays them. I've filled some bits in wrong so my partners re doing it now.

Technically it's two loans with the same company (ones a car loan).

Thank you for your reply

lolls89

FBaby wrote: »

I'm surprised that on that income, you are still entitled to tax credits for 1 child with no childcare. Are you sure that is correct?

Yes, but my partners just corrected me as we have just renewed,we don't get that amount any more. He's redoing the SOA.

lolls89

Helpmeoutofthismess wrote: »

Hi, hopefully your deficit won't be so much if your road tax figure is a mistake, would your mum be able to give you a bit longer to pay while you get back on your feet?

H x

Yeah that was a mistake, sorry.
We've been paying her £100 instead if £200 for a couple of months but she's on our back now for the agreed payments as it's on her cc.

lolls89

forgotmyname wrote: »

£76 a month on mobiles... Should be easy to reduce that by at least £20 a month.

£50 a month on TV. Watch the stuff online for free.

£115 a month on Gas/Electric is high.

£260 on groceries. £50 - £100 knocked off that after reading the old style boards and other money saving ideas.

£230 a month car tax? I presume thats a year so only £20.

As mentioned your figures look OK and leave you enough to save and have a good time. Why are you struggling?

Items not listed?

Mines £20 and my partners is around £56 as he has unlimited everything as he uses it for work calls. But i will look at trying to reduce that. We both have contacts so would we still be able to reduce the amount?

£50 is for TV, broadband and landline.

Great I'll take a look at that, I find it really hard to budget shop at the minute, so hopefully I should be able to find some good tips.

Yes that was an error, sorry.

There was a few bit I had missed out, my partner has redone it. But even on that one it was showing -232, fair enough that's the amount I put for car tax but that still leaves us -20? Or have I missunderstood?


Thank you for your reply, it was really helpful and has gave me some things to look at.

lolls89

blondebubbles wrote: »

I would agree, threshold is £26,000 for one child.

We are under the £26,000.
Although he is on a good wage on paper we don't get holiday pay and the company close down for 2 weeks at Xmas, is he's ever sick he doesn't get paid, and the company lay him off a couple of times a year when works slow and he doesn't get paid for that either.
He's only been on this amount since may I think it was.

lolls89

My partner has redone it as he knows our incomings and outgoings better than me.


Statement of Affairs and Personal Balance Sheet

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................ 2177
Partners monthly income after tax....... 0
Benefits................................ 161.5
Other income............................ 0
Total monthly income.................... 2338.5

Monthly Expense Details
Mortgage................................ 346.5
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 125
Electricity............................. 62
Gas..................................... 53
Oil..................................... 0
Water rates............................. 35.26
Telephone (land line)................... 0
Mobile phone............................ 76
TV Licence.............................. 12.18
Satellite/Cable TV...................... 50
Internet Services....................... 0
Groceries etc. ......................... 260
Clothing................................ 0
Petrol/diesel........................... 87
Road tax................................ 19.17
Car Insurance........................... 66
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 13.46
Contents insurance...................... 0
Life assurance ......................... 12.62
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
NI repayments........................... 68
NI...................................... 10.6
Total monthly expenses.................. 1326.79


Assets
Cash.................................... 0
House value (Gross)..................... 90000
Shares and bonds........................ 0
Car(s).................................. 1995
Other assets............................ 0
Total Assets............................ 91995


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 70828.4..(346.5)....0
Total secured & HP debts...... 70828.4...-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................4500......25........0
Home shopping..................12000.....20........0
Nationwide.....................7000......20........0
Overdraft......................2000......20........0
Overdraft......................3000......25........0
Money Shop.....................350.......80........0
Water..........................352.42....25........0
Mum............................3000......200.......0
Gas and Electric...............942.88....100.......0
Debt recovery..................350.......216.7.....0
Car Loan.......................3000......390.......0
Wescot Credit..................1800......200.......0
Total unsecured debts..........38295.3...1321.7....-


Monthly Budget Summary
Total monthly income.................... 2,338.5
Expenses (including HP & secured debts). 1,326.79
Available for debt repayments........... 1,011.71
Monthly UNsecured debt repayments....... 1,321.7
Amount short for making debt repayments. -309.99

Personal Balance Sheet Summary
Total assets (things you own)........... 91,995
Total HP & Secured debt................. -70,828.4
Total Unsecured debt.................... -38,295.3
Net Assets.............................. -17,128.7

Created using the SOA calculator at
Reproduced on Moneysavingexpert with permission, using other browser.

lolls89

nannytone wrote: »

so your mpnthly income is £2377 and your outgoings, including mortgage is $1537...
why are you struggling?

toy wont get benefit to help you to repay money you owe your mother!

I don't want benefir to repay my mum! I want some help and advice to help me out of this mess and if I am entitled to anything as I am struggling to work.

Thank you for your reply anyway.

lolls89

blondebubbles wrote: »

What was the income you declared to tax credits for 2013/14?

I'm not sure, I'll dig my paperwork out in a bit and have a look.

Money_maker

For the budgeting side, you ought to repost your SOA on the debtfree wannabee board where the regular peeps can help shave the £££'s off your outgoings. They probably wont see this post on this board.