2015 soa

asparagus1968

This is mainly to keep me on track, think I am pretty ok.Had years of scrimping/wasting/unnecessary spending, this is my balanced life budget!


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 0
Benefits................................ 415
Other income............................ 531
Total monthly income.................... 1846

Monthly Expense Details
Mortgage................................ 345.2
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 91
Electricity............................. 25 (just switched this with martin lewis' guide)
Gas..................................... 30 (as above, saving £20 a month)
Oil..................................... 0
Water rates............................. 28
Telephone (land line)................... 20 (landline and broadband)
Mobile phone............................ 20 (2xMobile phones)
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0(included in telephone package)
Groceries etc. ......................... 250 inc pet food,toiletries,cleaning products
Clothing................................ 20
Petrol/diesel........................... 100
Road tax................................ 2
Car Insurance........................... 30
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 90(trains for ds)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 10
Buildings insurance..................... 5
Contents insurance...................... 5
Life assurance ......................... 9.87
Other insurance......................... 4.99(boiler cover)
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 50
Holiday................................. 100
Emergency fund.......................... 100
union.................................... 16.40
car loan................................ 115.76
ISA..................................... 100
Ds savings............................. 25
sofa.................................... 42.79(finishes july)
laptop lease.................................. 24.37
Tuition fees...............................40.00
Ds Music Lessons.....................15.00
Total monthly expenses.................. 1817.69

Assets
Cash.................................... 1250
House value (Gross)..................... 115000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 121250


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 52000....(345.2)....3.59
Total secured & HP debts...... 52000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........(listed car loan under monthly bills)

Monthly Budget Summary
Total monthly income.................... 1,846
Expenses (including HP & secured debts). 1817.69
Available for debt repayments........... 28.31
Monthly UNsecured debt repayments....... 0

Amount left after debt repayments....... 28.31
Personal Balance Sheet Summary
Total assets (things you own)........... 120,250
Total HP & Secured debt................. -52,000
Total Unsecured debt.................... -0
Net Assets.............................. 68,250


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

National_Debtline

Good stuff, asparagus. Hope you find the budget a useful tool in your debt-free journey.


Out of interest, how are you using the leftover £86? Rainy day savings? Mortgage overpayments? A few treats?


Dennis
@natdebtline

Tixy

Looks pretty good.

How long does the car loan last? In terms of getting/staying debt free is the plan to save up for if/when you need a replacement car?

asparagus1968

thanks you two.
I was actually totally debt free except mortgage a couple of years back, at my worst point I had about £4000 unsecured debt ,not a lot to some people I know,but it was to me. A few ups and downs since then, and also new windows to house but back in control now
my goals are:
get savings built up, yes Tixy,to include new car (but hopefully this one will last another 10 years or so)and to make over payments to mortgage as often as possible. Think on pay day I should see what is left in the account and put that to mortgage.
Can't imagine what I would have done without Martin Lewis and all the MSE'ers on here, my lovely virtual comrades.