SOA if I go it alone

chelseablue

Hi everyone


Can I post a hypothetical situation please? It's not actually happened yet but if I were to split from my partner I would like some advice on my SOA to see if I would be able to manage alone.


Please be as brutally honest as you like


My SOA as a singleton would be:


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................ 1,887
Partners monthly income after tax....... 0
Benefits................................ 82
Other income............................ 230 This is child maintenance. I rang the child maintenance people to check how much my partner would have to give if he left
Total monthly income.................... 2199
Monthly Expense Details
Mortgage................................ 479
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 78
Council tax............................. 93 This is with the single person discount
Electricity............................. 31.33 This is what the D/D is at the moment for a 2 bed all electric flat.
Gas..................................... 0
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 0
Mobile phone............................ 33
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 200 For everything (nappies, cleaning stuff, toiletries, packed lunch for work)
Clothing................................ 20
Petrol/diesel........................... 120
Road tax................................ 17.5
Car Insurance........................... 25
Car maintenance (including MOT)......... 20
Car parking............................. 2.08 £25 a year for a parking permit for my road
Other travel............................ 0
Childcare/nursery....................... 760
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0 Included in the management charge
Ground rent................................ 20
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 2029.91

Assets
Cash.................................... 42872
House value (Gross)..................... 210000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 254872

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 92000....(479)......2.29
Total secured & HP debts...... 92000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................600.......5.........0
Total unsecured debts..........600.......5.........-

Monthly Budget Summary
Total monthly income.................... 2,199
Expenses (including HP & secured debts). 2,029.91
Available for debt repayments........... 169.09
Monthly UNsecured debt repayments....... 5
Amount left after debt repayments....... 164.09
Personal Balance Sheet Summary
Total assets (things you own)........... 254,872
Total HP & Secured debt................. -92,000
Total Unsecured debt.................... -600
Net Assets.............................. 162,272
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

chelseablue

Re the mobile phone, I can't do anything until September next year.
Then I could hopefully get it down to £10 a month SIM only plan

anna_1977

chelseablue wrote: »

Hi everyone


Can I post a hypothetical situation please? It's not actually happened yet but if I were to split from my partner I would like some advice on my SOA to see if I would be able to manage alone.


Please be as brutally honest as you like


My SOA as a singleton would be:


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................ 1,887
Partners monthly income after tax....... 0
Benefits................................ 82
Other income............................ 230 This is child maintenance. I rang the child maintenance people to check how much my partner would have to give if he left
Total monthly income.................... 2199
Monthly Expense Details
Mortgage................................ 479
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 78
Council tax............................. 93 This is with the single person discount this can be changed to pay over 12 months if not already...
Electricity............................. 31.33 This is what the D/D is at the moment for a 2 bed all electric flat.
Gas..................................... 0
Oil..................................... 0
Water rates............................. 41are you on a meter? If so this will prob decrease with one less person
Telephone (land line)................... 0
Mobile phone............................ 33
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 18seems high, is it possible to shop about?
Groceries etc. ......................... 200 For everything (nappies, cleaning stuff, toiletries, packed lunch for work)
Clothing................................ 20
Petrol/diesel........................... 120do you work far from home? sounds quite a lot if not
Road tax................................ 17.5
Car Insurance........................... 25
Car maintenance (including MOT)......... 20
Car parking............................. 2.08 £25 a year for a parking permit for my road
Other travel............................ 0
Childcare/nursery....................... 760can you get any tax relief/vouchers via work for this?
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0 Included in the management charge
Ground rent................................ 20
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 20
Emergency fund.......................... 0try and put even just £10 a month away
Total monthly expenses.................. 2029.91

Assets
Cash.................................... 42872
House value (Gross)..................... 210000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 254872

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 92000....(479)......2.29
Total secured & HP debts...... 92000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................600.......5.........0
Total unsecured debts..........600.......5.........-

Monthly Budget Summary
Total monthly income.................... 2,199
Expenses (including HP & secured debts). 2,029.91
Available for debt repayments........... 169.09
Monthly UNsecured debt repayments....... 5
Amount left after debt repayments....... 164.09
Personal Balance Sheet Summary
Total assets (things you own)........... 254,872
Total HP & Secured debt................. -92,000
Total Unsecured debt.................... -600
Net Assets.............................. 162,272
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Hi,
Please see my comments above, are you entitled to any child tax or working family tax credits? Are you married, if so will you claim any spouse maintenance?

Make sure that when things like house/car insurance are up for renewal you shop about and buy everything from through cashback websites.

Good luck, what a hard decision you have to make
x

Pixie5740

Would you be able to claim more in benefits such as tax credits if you flew solo?

mum2one

Just a thought re child maintance, - I dont know what the oh i like, but it may take some time for it to be sorted through the cms, is he liable to pay on time? x

missbiggles1

anna_m wrote: »

Hi,
Please see my comments above, are you entitled to any child tax or working family tax credits? Are you married, if so will you claim any spouse maintenance?

Make sure that when things like house/car insurance are up for renewal you shop about and buy everything from through cashback websites.

Good luck, what a hard decision you have to make
x

Spousal maintenance is really rare this days - fortunately.

missbiggles1

mum2one wrote: »

Just a thought re child maintance, - I dont know what the oh i like, but it may take some time for it to be sorted through the cms, is he liable to pay on time? x

Is he likely to pay at all?

anna_1977

missbiggles1 wrote: »

Spousal maintenance is really rare this days - fortunately.

Really, most people I know who are divorced claim it - I chose not to personally, it wasn't about the money....

chelseablue

Council tax............................. 93 This is with the single person discount this can be changed to pay over 12 months if not already... Over 10 at the moment, I would ask if I can pay over 12

Water rates............................. 41are you on a meter? If so this will prob decrease with one less person No not on a meter

Internet Services....................... 18seems high, is it possible to shop about? Yes after June I can


Petrol/diesel........................... 120 I work in my home town. £120 is a worst case figure, £45 normally lasts a couple of weeks. I drive a 1.6 automatic so I think they use more petrol than a manual?

Childcare/nursery....................... 760can you get any tax relief/vouchers via work for this? Not currently claiming vouchers, I thought this scheme was closed now for new claimants?


Emergency fund.......................... 0try and put even just £10 a month away
Total monthly expenses.................. 2029.91

Assets
Cash.................................... 42872
House value (Gross)..................... 210000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 254872

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 92000....(479)......2.29
Total secured & HP debts...... 92000.....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
Barclaycard....................600.......5........ .0
Total unsecured debts..........600.......5.........-

Monthly Budget Summary
Total monthly income.................... 2,199
Expenses (including HP & secured debts). 2,029.91
Available for debt repayments........... 169.09
Monthly UNsecured debt repayments....... 5
Amount left after debt repayments....... 164.09
Personal Balance Sheet Summary
Total assets (things you own)........... 254,872
Total HP & Secured debt................. -92,000

chelseablue

I would say that yes he would pay.


If he does leave he would move back to his mums house and his life wouldn't be worth living if he didn't pay.


Plus if he ever didn't pay I'd go round there on pay day and sit there until he transferred it to me :rotfl:

chelseablue

I think I would be entitled to tax credits to help with the childcare, but aren't they cutting the tax credits from April?