SOA, suggestions welcome

andyfromotley

Red-Squirrel wrote: »

Where did you manage to get £8 a month for phone and broadband? Is it a reliable connection? As soon as I can I want rid of the sky TV contract, I don't even watch it that much, but I've been really impressed by the broadband after a few years with BT which was terrible!

Plusnet have a deal on via MSE at the mo. If you can pay your line rental up front (£160 ish) BB. £2.50 pm Plus £100 cash back equals out as £7.60 ish a month. (however plus net is part of BT so maybe not for you.)

Grapes

Hi Red-Squirrel,

Welcome to the forums. On the same journey and wanted to wish you luck in your DFW journey.

Had to say that I get breakdown cover for my car included in my car insurance. Have you read through your documents to see if this is included?

I had to add a premium to my insurance to get it, but when I broke down (pun not intended) the cost on a monthly basis it was one of the easiest decisions to make.

If you don't have it, call up and see if this could get added to your insurance until it expires, or if it's due up soon, get this included in your insurance.

Red-Squirrel_2

Thanks Grapes, I'm pretty sure its not on there now but I'll double check, and will definitely look into it at renewal in July.

MallyGirl

I got UK & Europe breakdown for £59 pa with £5 c/b through TCB. Never had to use it so can't comment on the service - thankfully

getmore4less

Red-Squirrel wrote: »

Thanks Grapes, I'm pretty sure its not on there now but I'll double check, and will definitely look into it at renewal in July.

Our insurances have ended up with direct line after comparsons and cash back searches.

I think they have breakdown as an option.

rising_from_the_ashes

andyfromotley wrote: »

(however plus net is part of BT so maybe not for you.)

I'm with Plusnet and honestly can't fault their customer service - absolutely no comparison with BT!

I've been with them several years now (I'm in a restricted area & it's really only BT or Plusnet that I can have ) - but they've been good and if you a couple of months after your deal has ended, they'll generally negotiate a new deal :T

Red-Squirrel_2

Hello again!

I've come back to this thread to post an updates SOA, mostly to show how amazing this site is and how posting on here and reading all your fantastic advice and experiences has helped me turn my finances around.

I will admit, I am very lucky in that I was sitting on equity in my flat that has allowed to move to a nice little house, pay off the most expensive credit card, and still have some cash in the bank to refurbish it (needs a lot doing!). Even before that though (I only moved last month) my finances had been completely transformed by this site and by you lovely people.

I started using YNAB, which is incredible and I can't recommend highly enough. Since the day I started using it I haven't gone a penny into my overdraft on my main account and I was in it every month before.

I still have some debt, but thanks to what I've learned from this site it isn't stressing me out anymore, or costing me anything in interest. I've become a proud rate tart!

So here's the new SOA, I know there are always improvements to be made so am still open to suggestions!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1550

Monthly Expense Details
Mortgage................................ 397
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 85
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 16
Mobile phone............................ 36
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 8
Groceries etc. ......................... 200
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 9.62
Car Insurance........................... 26
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 4
Pet insurance/vet bills................. 50
Buildings insurance..................... 7
Contents insurance...................... 6
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment........................... 50
Holiday................................. 50
Emergency fund.......................... 25
Professional registration fee........... 10
Union membership........................ 14
Total monthly expenses.................. 1345.74


Assets
Cash.................................... 20500
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 171500


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 106441...(397)......2.78
Total secured & HP debts...... 106441....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard CC.................4576.75...100.......0
Halifax CC.....................732.2.....15........0
Total unsecured debts..........5308.95...115.......-


Monthly Budget Summary
Total monthly income.................... 1,550
Expenses (including HP & secured debts). 1,345.74
Available for debt repayments........... 204.26
Monthly UNsecured debt repayments....... 115
Amount left after debt repayments....... 89.26

Personal Balance Sheet Summary
Total assets (things you own)........... 171,500
Total HP & Secured debt................. -106,441
Total Unsecured debt.................... -5,308.95
Net Assets.............................. 59,750.05

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