Bekibun's Soa (it Took Ages To Work Out!)

Bekibuns

At long last, despite joining the DFW club last week, finally worked out what I was doing and attach my very long State of Affairs - all help gratefully received................ Cheers Bekibuns x

BEKIBUN’S EXPENDITURE STATE OF AFFAIRS – (SOA)

Monthly Income:

Child Maintenance for eldest children £900.00
Housekeeping (husband supports me) £800.00
Child Benefit £169.20
MONTHLY TOTAL: £1869.20 = YEARLY INCOME TOTAL: £22, 430.40
Actual Outgoings (have worked out as near as possible per month based on budget over year ie. Christmas/haircuts/car tax etc.)

For eldest two children (10 yr old boy/12 yr old girl)

Haircuts £20
Personal Toiletries £10.00
Clothes £132.00
School Uniform £50.00
Shoes £20.00
Bus Fares (1 child only) £53.75
Mobile Phone (pay as you go) £15.00
Presents for Friends at parties etc. £16.66
Birthday presents £5.00
Christmas presents £8.32
School trips £58.32
Holidays (ie. Activities/camps/swimming etc.
for the 12 weeks of school holidays) £266.66
Drum Lessons (son) £33.25
Rugby club membership (son) £6.25

Monthly Children (eldest 2) Total: £695.21

2 year old son

Nursery fees (two mornings per week from September during term time) £89.25
Birthday £2.50
Christmas £4.16
Going out (swimming/fun-time gym etc.) £15.00
Clothes & Shoes £16.66

Monthly 2 year old Total: £127.57

My Personal

Dentist £2.50
Eye Test £1.50
Mobile Phone (PAYG) £10.00
Loan (Alliance & Leicester 11% APR) £227.00
Credit Card (Virgin % APR) £100.00
Cash ISA (have started saving for pension as I don’t have one) £50.00
Prescription for medication £7.00
Greenpeace £3.00
Phyliss Tuckwell Hospice £4.00
Haircuts £8.33
Clothes (only shop in charity shops for myself) £25.00
Going Out £50.00
Presents for friends/family etc. £33.33

Monthly My-Personal Total: £522.16

Family Costs

Weekly Food Shop (includes nappies/wipes etc. £430.00
Family Railcard £1.66
Youth Hostel Membership £1.91
TV Licence £11.50
Broadband £15.99
Holiday Fund (would like to be budgetting £100 per month for this) £50.00
Christmas Fund £41.66
Cleaner (2 hours per week) £14.00

Monthly Family Costs: £566.72

Car

Tax £15.83
MOT £4.16
Insurance £33.00
Car Service £16.66
Breakdown Cover £2.83
Fuel (have converted to Veggie Oil but use a little diesel aswell) £30.00

Monthly Car Total: £102.48

TOTAL MONTHLY OUTGOINGS: £2014.14
= YEARLY OUTGOINGS: £24169.68

EEEEK! ALREADY A SHORTFALL OF £1,739.28 PER YEAR (£144.94 PER MONTH):eek:

This is a very scary SOA considering that I do not even pay any of the bills or mortgage etc. Thankfully!

Current Debts:

Alliance & Leicester Loan - £12,539.45 over 55 months @11.9% APR paying off as detailed above at £227.00 per month

Virgin Credit Card – Transfer Balance transferred to 13 months 0% to pay off EGG C Card) of £2,300.00/Current Total on credit card due to spending = £2,688.52 (intend to NOT spend any more money on the credit card).

Alliance & Leicester Overdraft on Current Account (0% interest on o/d up to £800.00) – Normally go fully into overdraft and often go over incurring bank charges and bounced cheques (intend to not go over the overdraft limit from September onwards).

CURRENT DEBT TOTAL: £16,027.97

help!

PointerOO

Bekibuns wrote: »

At long last, despite joining the DFW club last week, finally worked out what I was doing and attach my very long State of Affairs - all help gratefully received................ Cheers Bekibuns x

BEKIBUN’S EXPENDITURESTATE OF AFFAIRS – (SOA)

Monthly Income:

Child Maintenance for eldest children £900.00
Housekeeping (husband supports me) £800.00
Child Benefit £169.20
MONTHLY TOTAL: £1869.20 = YEARLY INCOME TOTAL: £22, 430.40
Actual Outgoings (have worked out as near as possible per month based on budget over year ie. Christmas/haircuts/car tax etc.)

For eldest two children (10 yr old boy/12 yr old girl)

Haircuts £20 This seems high to me
Personal Toiletries £10.00
Clothes £132.00 WAY too high for a monthly spend
School Uniform £50.00 Again £50 per month is way too high for school uniform
Shoes £20.00
Bus Fares (1 child only) £53.75
Mobile Phone (pay as you go) £15.00
Presents for Friends at parties etc. £16.66
Birthday presents £5.00 Is this money you put away for their birthday presents?
Christmas presents £8.32
School trips £58.32 £58 a month for school trips? :O
Holidays (ie. Activities/camps/swimming etc.
for the 12 weeks of school holidays) £266.66
Drum Lessons (son) £33.25
Rugby club membership (son) £6.25

Monthly Children (eldest 2) Total: £695.21 This really needs to be cut imo, could you try talking to your kids and explaining the financial situation?

2 year old son

Nursery fees (two mornings per week from September during term time) £89.25 Why does the little one go to nursery 2 mornings per week?
Birthday £2.50
Christmas £4.16
Going out (swimming/fun-time gym etc.) £15.00
Clothes & Shoes £16.66

Monthly 2 year old Total: £127.57

My Personal

Dentist £2.50
Eye Test £1.50
Mobile Phone (PAYG) £10.00
Loan (Alliance & Leicester 11% APR) £227.00
Credit Card (Virgin % APR) £100.00
Cash ISA (have started saving for pension as I don’t have one) £50.00 I would pay off debt with this rather than saving it, you are paying more interest on your debt than the interest you are earning on this £50.
Prescription for medication £7.00
Greenpeace £3.00 This needs to go ASAP.
Phyliss Tuckwell Hospice £4.00 Ditto.
Haircuts £8.33
Clothes (only shop in charity shops for myself) £25.00
Going Out £50.00 Cut this down if you are serious about becoming debt free.
Presents for friends/family etc. £33.33 Ditto.

Monthly My-Personal Total: £522.16

Family Costs

Weekly Food Shop (includes nappies/wipes etc. £430.00 This seems VERY high indeed, even considering you have 3 kids.
Family Railcard £1.66
Youth Hostel Membership £1.91
TV Licence £11.50
Broadband £15.99
Holiday Fund (would like to be budgetting £100 per month for this) £50.00 Again, you would be better off paying off some additional debt with this money.
Christmas Fund £41.66 Ditto.
Cleaner (2 hours per week) £14.00 Seriously? A cleaner? He/She needs to go immediately.

Monthly Family Costs: £566.72

Car

Tax £15.83
MOT £4.16
Insurance £33.00
Car Service £16.66
Breakdown Cover £2.83
Fuel (have converted to Veggie Oil but use a little diesel aswell) £30.00

Monthly Car Total: £102.48

TOTAL MONTHLY OUTGOINGS: £2014.14
= YEARLY OUTGOINGS: £24169.68

EEEEK! ALREADY A SHORTFALL OF £1,739.28 PER YEAR (£144.94 PER MONTH):eek:

This is a very scary SOA considering that I do not even pay any of the bills or mortgage etc. Thankfully!

Current Debts:

Alliance & Leicester Loan - £12,539.45 over 55 months @11.9% APR paying off as detailed above at £227.00 per month

Virgin Credit Card – Transfer Balance transferred to 13 months 0% to pay off EGG C Card) of £2,300.00/Current Total on credit card due to spending = £2,688.52 (intend to NOT spend any more money on the credit card).

Alliance & Leicester Overdraft on Current Account (0% interest on o/d up to £800.00) – Normally go fully into overdraft and often go over incurring bank charges and bounced cheques (intend to not go over the overdraft limit from September onwards).

CURRENT DEBT TOTAL: £16,027.97
help!

Good luck on cutting your debt, you are in a great position if you do not have to pay any bills/mortgage. I guess you just need to look at your SOA and decide how badly you want to reduce your debt and therefore how many of the "luxury" activities you cut out of yor life.

Gemmzie

Hi Bekibuns, well done for posting My comments are below

Bekibuns wrote: »

At long last, despite joining the DFW club last week, finally worked out what I was doing and attach my very long State of Affairs - all help gratefully received................ Cheers Bekibuns x

BEKIBUN’S EXPENDITURESTATE OF AFFAIRS – (SOA)

Monthly Income:

Child Maintenance for eldest children £900.00
Housekeeping (husband supports me) £800.00
Child Benefit £169.20
MONTHLY TOTAL: £1869.20 = YEARLY INCOME TOTAL: £22, 430.40
Actual Outgoings (have worked out as near as possible per month based on budget over year ie. Christmas/haircuts/car tax etc.)

For eldest two children (10 yr old boy/12 yr old girl)

Haircuts £20 This seems a lot for children's haircuts, could they have it cut every six weeks?
Personal Toiletries £10.00
Clothes £132.00 This is very high
School Uniform £50.00 Are they at private school? This is an extremely high average
Shoes £20.00
Bus Fares (1 child only) £53.75
Mobile Phone (pay as you go) £15.00
Presents for Friends at parties etc. £16.66
Birthday presents £5.00
Christmas presents £8.32
School trips £58.32
Holidays (ie. Activities/camps/swimming etc.
for the 12 weeks of school holidays) £266.66 You can't really afford this
Drum Lessons (son) £33.25
Rugby club membership (son) £6.25

Monthly Children (eldest 2) Total: £695.21

2 year old son

Nursery fees (two mornings per week from September during term time) £89.25
Birthday £2.50
Christmas £4.16
Going out (swimming/fun-time gym etc.) £15.00
Clothes & Shoes £16.66

Monthly 2 year old Total: £127.57

My Personal

Dentist £2.50
Eye Test £1.50
Mobile Phone (PAYG) £10.00
Loan (Alliance & Leicester 11% APR) £227.00
Credit Card (Virgin % APR) £100.00
Cash ISA (have started saving for pension as I don’t have one) £50.00
Prescription for medication £7.00 Do you use a pre-payment certificate?
Greenpeace £3.00 You can't afford this, if it must stay then the holiday budgets need to be cut
Phyliss Tuckwell Hospice £4.00 Ditto
Haircuts £8.33
Clothes (only shop in charity shops for myself) £25.00
Going Out £50.00 Same with this, £50 a month is a lot
Presents for friends/family etc. £33.33

Monthly My-Personal Total: £522.16

Family Costs

Weekly Food Shop (includes nappies/wipes etc. £430.00
Family Railcard £1.66
Youth Hostel Membership £1.91 What is this for?
TV Licence £11.50
Broadband £15.99
Holiday Fund (would like to be budgetting £100 per month for this) £50.00
Christmas Fund £41.66
Cleaner (2 hours per week) £14.00

Monthly Family Costs: £566.72

Car

Tax £15.83
MOT £4.16
Insurance £33.00 When it's time to switch, use comparisons sites and Quidco to knock this down
Car Service £16.66
Breakdown Cover £2.83
Fuel (have converted to Veggie Oil but use a little diesel aswell) £30.00

Monthly Car Total: £102.48

TOTAL MONTHLY OUTGOINGS: £2014.14
= YEARLY OUTGOINGS: £24169.68

EEEEK! ALREADY A SHORTFALL OF £1,739.28 PER YEAR (£144.94 PER MONTH):eek:

This is a very scary SOA considering that I do not even pay any of the bills or mortgage etc. Thankfully!

Current Debts:

Alliance & Leicester Loan - £12,539.45 over 55 months @11.9% APR paying off as detailed above at £227.00 per month

Virgin Credit Card – Transfer Balance transferred to 13 months 0% to pay off EGG C Card) of £2,300.00/Current Total on credit card due to spending = £2,688.52 (intend to NOT spend any more money on the credit card).
This worries me, have you spent on the card since you've done the 0% transfer?

Alliance & Leicester Overdraft on Current Account (0% interest on o/d up to £800.00) – Normally go fully into overdraft and often go over incurring bank charges and bounced cheques (intend to not go over the overdraft limit from September onwards).

CURRENT DEBT TOTAL: £16,027.97
help!

You're debt needs to be shifted before you can start saving for luxuries, your basic budget shows £1687.14 before debt repayment. Leaving £182.06 for debt, which doesn't cover the minimums.

You also say that you're into your O/D every month so you're spending more than is just listed there. Best way to address that is a spending diary. Write down every penny you spend in a small notebook (keep it in your handbag).


Hope that helps

MRSMCAWBER

Hi there

Is the £430 for food supposed to be monthly? or are you actually spending that a week ?

floss2

£58.32 a month for school trips = £699.84 - 25% of your cc balance.

£266.66 a month for "activities" = £738 over the 12weeks - almost all of your overdraft or another 25% of the cc balance - i'm sorry, but you appear to be a stay at home mum - why do they need this?

£132 a month for clothes = £1584 - way too much for children (and yes, I DO know how quickly they grow as mine are 19 & 21) - I wouldn't dream of spending half of that amount a year on myself even now I am debt free!

£89.25 for nursery fees - I appreciate that you need time to yourself, but that is too expensive in your current situation. Do you have any friends with whom you can swap babysitting for a morning?

£14 for a cleaner - again, sorry if it's rude, but why?

£430 on food - get over to the Old Style board to help you reduce this.

You need to look at cutting back on ALL the items that you may feel are necessary, as quite a few are luxuries when you are in your current situation.
Most of us would be very happy to have £22k income in our hands to play with, even if it meant repaying the debts you have.

redballoon_2

THIS IS WHAT YOU NEED TO DO TO SAVE £1961.66




Haircuts £20 - Have hair cuts every other month
Personal Toiletries £10.00 - Surley they dont NEED this every month
Clothes £132.00 - minimum spend half of this, Only buy what they need, ie replacements of grown out clothes, shop on ebay, sell thier old clothes, shop in charity shops
Holidays (ie. Activities/camps/swimming etc.
for the 12 weeks of school holidays) £266.66 - Are there free activites during the six weeks that they could join in with?

Monthly Children (eldest 2) Total: £695.21 SAVING £361.66 per month


Greenpeace £3.00
Phyliss Tuckwell Hospice £4.00 -stop giving to charity until you have sorted yourself out
Haircuts £8.33 - Go to local college and have hair cut every other month
Clothes (only shop in charity shops for myself) £25.00 - try and reduce this, perhaps go out shopping every other month
Going Out £50.00 - cut to bear minimum,half it or every other month
Presents for friends/family etc. £33.33 - Half this, buy things in charity shops, make gift hampers, jam's etc..Give them favour's where possible, eg. "a homemade cake when ever you would like", "babysitting" etc...

Monthly My-Personal Total: £522.16 SAVING £80

Family Costs

Weekly Food Shop (includes nappies/wipes etc. £430.00 - REDUCE!!!! It could be about £300 a month if you shop carefully. you are spending £1720 a month on food!!!!! Dont buy wipes, use flannels, check on old style board for ideas, meal plan, buy what you NEED not what you WANT.

Family Railcard £1.66 - Do you use this??

Youth Hostel Membership £1.91 - Do you use this??

Holiday Fund (would like to be budgetting £100 per month for this) £50.00 - Dont think about holidays until you can afford them, they are a luxury not necessity, go camping instead

Christmas Fund £41.66

Cleaner (2 hours per week) £14.00 - Do the cleaning yourself, give children chores in return for thier pocket money/treats/drum lessons etc...

SAVING £1484



Total Saving: £1961.66 !!!!!!

quantumleap

Bekibuns wrote: »

At long last, despite joining the DFW club last week, finally worked out what I was doing and attach my very long State of Affairs - all help gratefully received................ Cheers Bekibuns x

BEKIBUN’S EXPENDITURESTATE OF AFFAIRS – (SOA)

Monthly Income:

Child Maintenance for eldest children £900.00
Housekeeping (husband supports me) £800.00
Child Benefit £169.20
MONTHLY TOTAL: £1869.20 = YEARLY INCOME TOTAL: £22, 430.40
Actual Outgoings (have worked out as near as possible per month based on budget over year ie. Christmas/haircuts/car tax etc.)

For eldest two children (10 yr old boy/12 yr old girl)

Haircuts £20
Personal Toiletries £10.00
Clothes £132.00 (How on earth can this be justified - way too much!)
School Uniform £50.00 (Again, surely over £600 a year on uniforms is REALLY high)
Shoes £20.00
Bus Fares (1 child only) £53.75
Mobile Phone (pay as you go) £15.00
Presents for Friends at parties etc. £16.66 (Be more inventive when giving gifts)
Birthday presents £5.00
Christmas presents £8.32
School trips £58.32 (Too much in your circumstances)
Holidays (ie. Activities/camps/swimming etc.
for the 12 weeks of school holidays) £266.66 (add this to trips and it's a whopping amount per annum)
Drum Lessons (son) £33.25
Rugby club membership (son) £6.25

Monthly Children (eldest 2) Total: £695.21

2 year old son

Nursery fees (two mornings per week from September during term time) £89.25 (You'll have to consider giving this up for a period of time at least)
Birthday £2.50
Christmas £4.16
Going out (swimming/fun-time gym etc.) £15.00
Clothes & Shoes £16.66

Monthly 2 year old Total: £127.57

My Personal

Dentist £2.50
Eye Test £1.50
Mobile Phone (PAYG) £10.00
Loan (Alliance & Leicester 11% APR) £227.00
Credit Card (Virgin % APR) £100.00
Cash ISA (have started saving for pension as I don’t have one) £50.00
Prescription for medication £7.00
Greenpeace £3.00
Phyliss Tuckwell Hospice £4.00
Haircuts £8.33
Clothes (only shop in charity shops for myself) £25.00
Going Out £50.00
Presents for friends/family etc. £33.33 (again be more inventive with gifts - you can't afford to spend this sort of money)

Monthly My-Personal Total: £522.16

Family Costs

Weekly Food Shop (includes nappies/wipes etc. £430.00 (Shocking, it really is!!)
Family Railcard £1.66
Youth Hostel Membership £1.91
TV Licence £11.50
Broadband £15.99
Holiday Fund (would like to be budgetting £100 per month for this) £50.00
Christmas Fund £41.66
Cleaner (2 hours per week) £14.00 (Ridiculous under the circumstances)

Monthly Family Costs: £566.72

Car

Tax £15.83
MOT £4.16
Insurance £33.00
Car Service £16.66
Breakdown Cover £2.83
Fuel (have converted to Veggie Oil but use a little diesel aswell) £30.00

Monthly Car Total: £102.48

TOTAL MONTHLY OUTGOINGS: £2014.14
= YEARLY OUTGOINGS: £24169.68

EEEEK! ALREADY A SHORTFALL OF £1,739.28 PER YEAR (£144.94 PER MONTH):eek:

This is a very scary SOA considering that I do not even pay any of the bills or mortgage etc. Thankfully!

Current Debts:

Alliance & Leicester Loan - £12,539.45 over 55 months @11.9% APR paying off as detailed above at £227.00 per month

Virgin Credit Card – Transfer Balance transferred to 13 months 0% to pay off EGG C Card) of £2,300.00/Current Total on credit card due to spending = £2,688.52 (intend to NOT spend any more money on the credit card).

Alliance & Leicester Overdraft on Current Account (0% interest on o/d up to £800.00) – Normally go fully into overdraft and often go over incurring bank charges and bounced cheques (intend to not go over the overdraft limit from September onwards).

CURRENT DEBT TOTAL: £16,027.97

help!

I appreciate I've been a tad harsh with some of my comments but to be honest this is one of the most unbelievable SOA's I've ever seen. You really do spend so much money on so many things it's incredible.

I really wich you well and I hope you aren't offended as that isn't my intention, but I have to be honest.

Soprano

Are you sure you have worked out your SOA correctly? Has there been a per week/per month mix up??

Your SOA is off the chart!

shell_girl

Well done for posting. I do hope that you'll take all comments as constructive criticism- we're not judging- we really are trying to help.

At the moment you are spending an obscene amount of money on your children.

I seriously hope that your clothing/school uniforms and holiday amounts are mistakes in your SOA. At the moment your SOA implies that just holidays and activities just for your kids are costing you on average £266 per month every month, £120 per year per child on shoes, £300 per year per child on school uniforms, and over £1500 per year on their clothes.

With respect, I hope you don't mind me pointing out that I live (pay mortgage, bills, food, shop, car, and EVERYTHING) on the same money that you spend on your 3 children and your cleaner each month.

Kevicho

Hey beki, well done in posting.

Thats a pretty comprehensive SOA, and i think every item has already been covered, so I wont go into cutbacks.

I think one area you may look at doing is see if your younglings (omg ive turned into someone offf lord of the rings) could maybe get a paper round, to pay towards things such as drum lessons etc.

I think its nice you do so much for your kids, and id have loved that as a kid, but maybe they are not learning the true value of money here.

One thing you could look at is maybe selling off some unnecessary items though ebay and carboots to get you started?
This may cut your debt repayment time drastically, as you will be paying less interest overall.

Another thing i would do with your SOA is there seems to be a lot of seasonal expenses, which only occur once.

I have a spreadsheet set up with calculates things monthly (ie one off expenses come out of running totals, all very complicated, but looks good) and i think you would benefit from something like this.

I would be glad to help in this way if you would like a copy setting up.


Other than that welcome to the board and good luck with clearing your debt.

Burlesque_Babe

Not sure I can add much to this other than the expenditure on the older 2 children is incredibly and eye wateringly high.

I'm also presuming (and hoping!!!!) your shopping should read monthly not weekly.