Not sure what our best move is.....

Dinglehopper31

Sorry just realised I did some figures at there annual figure, not monthly

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................ 1406
Partners monthly income after tax....... 2074
Benefits................................ 82.8
Other income............................ 0
Total monthly income.................... 3562.8

Monthly Expense Details
Mortgage................................ 1009
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 149
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 26.5
Mobile phone............................ 81
TV Licence.............................. 147
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 390
Clothing................................ 0
Petrol/diesel........................... 90
Road tax................................ 15.41
Car Insurance........................... 15.58
Car maintenance (including MOT)......... 16.66
Car parking............................. 0
Other travel............................ 185
Childcare/nursery....................... 66
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 8.5
Buildings insurance..................... 15
Contents insurance...................... 2.5
Life assurance ......................... 12.25
Other insurance......................... 38.88
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 32.98
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2466.26


Assets
Cash.................................... 3492
House value (Gross)..................... 320000
Shares and bonds........................ 8000
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 337492


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 240000...(1009).....0
Total secured & HP debts...... 240000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................4300......98........0
Loan...........................6800......165.......0
Total unsecured debts..........11100.....263.......-


Monthly Budget Summary
Total monthly income.................... 3,562.8
Expenses (including HP & secured debts). 2,466.26
Available for debt repayments........... 1,096.54
Monthly UNsecured debt repayments....... 263
Amount left after debt repayments....... 833.54

Personal Balance Sheet Summary
Total assets (things you own)........... 337,492
Total HP & Secured debt................. -240,000
Total Unsecured debt.................... -11,100
Net Assets.............................. 86,392


Reproduced on Moneysavingexpert with permission, using other browser.[/i]

Lucylocks

I really hope your road tax, insurance and car maintenance is wrong - if not what on earth do you drive???

Debtslayer

Dinglehopper31 wrote: »

Where do I get a full SOA?

The one you've done. We cross posted

PurpleFairy26

I think you have put in an annual costs for tv licence, so go back and edit so it's accurate. Don't worry, it always takes a few goes.

You should plan to put away for presents and 1/12th of anything occurred annually so you don't have to dip in to savings when they crop up.

Lucky_Duck_2

TV license is, I assume, the annual cost rather than monthly

(Haven't had one for quite a while...)

Debtslayer

Dinglehopper31 wrote: »

Sorry just realised I did some figures at there annual figure, not monthly

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................ 1406
Partners monthly income after tax....... 2074
Benefits................................ 82.8
Other income............................ 0
Total monthly income.................... 3562.8

Monthly Expense Details
Mortgage................................ 1009
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 149
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 26.5
Mobile phone............................ 81 - this is really high, are you in contract? Change to sim only
TV Licence.............................. 147 - surely this is yearly amount?
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 390
Clothing................................ 0
Petrol/diesel........................... 90
Road tax................................ 15.41
Car Insurance........................... 15.58
Car maintenance (including MOT)......... 16.66
Car parking............................. 0
Other travel............................ 185
Childcare/nursery....................... 66
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 8.5
Buildings insurance..................... 15
Contents insurance...................... 2.5
Life assurance ......................... 12.25
Other insurance......................... 38.88 - what is this for?
Presents (birthday, christmas etc)...... 0 - you need to put a figure here
Haircuts................................ 0 - you never have your hair cut?
Entertainment........................... 32.98
Holiday................................. 0 - you need to put a figure here
Emergency fund.......................... 0
Total monthly expenses.................. 2466.26


Assets
Cash.................................... 3492
House value (Gross)..................... 320000
Shares and bonds........................ 8000
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 337492


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 240000...(1009).....0
Total secured & HP debts...... 240000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................4300......98........0 - you need to enter APR's
Loan...........................6800......165.......0 - what is the APR?
Total unsecured debts..........11100.....263.......-


Monthly Budget Summary
Total monthly income.................... 3,562.8
Expenses (including HP & secured debts). 2,466.26
Available for debt repayments........... 1,096.54
Monthly UNsecured debt repayments....... 263
Amount left after debt repayments....... 833.54

Personal Balance Sheet Summary
Total assets (things you own)........... 337,492
Total HP & Secured debt................. -240,000
Total Unsecured debt.................... -11,100
Net Assets.............................. 86,392


Reproduced on Moneysavingexpert with permission, using other browser.[/i]

Hi
I've made some comments above. I think one of your problems stems from not budgeting for everything including holidays and then you end up putting it on credit cards. You need to budget for absolutely everything.

Dinglehopper31

yeah this is what I have just been trying to explain to the OH. But its literally someones birthday every blinking week arh, we've cut back on presents now but even the cards add up! We used to save each month for insurances etc but just got out the habit I guess.

just so infuriating to be in a mess, which I know isn't that bad, certainly been in worse but seems harder and slower to get us out of it now a days.

x

System

Agreed. Several of the columns with a £0 put down as the value is most likely where your money is going.

Also...£3 a day spent on a Costa/Starbucks that you probably don't even think about buying racks up to over £1000 a year. My lad would get the odd drink and pack of crisps during the day at work not thinking about it and when we totalled it up he was spending around £40 a week.

Dinglehopper31

i dont know the APRs for the debt....the credit card is 0% for some but about £1500 has some APR. The loan is really low as we have looked to move it but never found a rate lower.

added hair cut to new SOA.

Mobiles is 2 phones (mine and OH)

38.88 insurance is my husbands redundancy insurance

Dinglehopper31

Tarambor wrote: »

Agreed. Several of the columns with a £0 put down as the value is most likely where your money is going.

Also...£3 a day spent on a Costa/Starbucks that you probably don't even think about buying racks up to over £1000 a year. My lad would get the odd drink and pack of crisps during the day at work not thinking about it and when we totalled it up he was spending around £40 a week.

This is not so much of an issue for me on the days I work, free coffee and I take packed lunch. On the days I am home with bubba I tend to have lunch out at least one of those days, but will spend less then a fiver, but yes this is not "budgeted" for x