Wandering on

Poor_Single_lady

You are doing loads you. Sounds like you need some Ramble-time to recharge. Sounds like it is going well tho. xxx

System

Hi everyone.
Been a busy week or so - it never really stops.
Thought it was time I got honest and posted an SOA. so here goes.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2088
Partners monthly income after tax....... 800
Benefits................................ 82.8
Other income............................ 41.23
Total monthly income.................... 3012.03

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 153
Electricity............................. 61
Gas..................................... 0
Oil..................................... 75
Water rates............................. 39.95
Telephone (land line)................... 0
Mobile phone............................ 0
TV Licence.............................. 12.25
Satellite/Cable TV...................... 6
Internet Services....................... 29
Groceries etc. ......................... 350
Clothing................................ 50
Petrol/diesel........................... 180
Road tax................................ 16.62
Car Insurance........................... 40.66
Car maintenance (including MOT)......... 150
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 86
Other child related expenses............ 200
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 34.96
Buildings insurance..................... 0
Contents insurance...................... 9.09
Life assurance ......................... 0
Other insurance......................... 9
Presents (birthday, christmas etc)...... 100
Haircuts................................ 50
Entertainment........................... 100
Holiday................................. 500
Emergency fund.......................... 200
(Unnamed monthly expense)............... 0
Pet food................................ 30
SS extra expense savings................ 40
Daughter extra expense savings.......... 40
House savings........................... 200
Cleaner + cleaning/ washing expenses.... 40
Total monthly expenses.................. 2812.53


Assets
Cash.................................... 50000
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 51000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Pr*............................10867.....51........0
Arr*w..........................6733......31.6......0
T*sco..........................3670......17.4......0
Bca*rd.........................522.28....20........16.57
Total unsecured debts..........21792.28..120.......-


Monthly Budget Summary
Total monthly income.................... 3,012.03
Expenses (including HP & secured debts). 2,812.53
Available for debt repayments........... 199.5
Monthly UNsecured debt repayments....... 120
Amount left after debt repayments....... 79.5

Personal Balance Sheet Summary
Total assets (things you own)........... 51,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -21,792.28
Net Assets.............................. 29,207.72

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

In addition to the above - I have the following savings pots with balances as follows:

Household savings: £200
Emergency Fund: £481.71
Christmas and Gift: £80 (although SS b'day this weekend so this will go down a bit as going out for tea, plus £30 present)
Car maintenance pot: £150
Holiday savings £327.50
Full & Final settlement pot: £100.43
We're also owed £400 by someone.
Barclaycard pay off pot: £250
Total: £1989.64

I'm going to clear the barclaycard and cancel it after payday this month, so savings will drop down and I haven't decided which other pots I will take the balance out of yet (prob household and emergency fund)

I know you'll probably be giving me a ticking off about the holiday savings - we've got a 2 week holiday in July - camping in France. We've got £500 to pay for campsite, and then I'm currently working on £350 for fuel, and £100 a day budget - which is loads. My aim is to not spend this and come back with some, but I also want us to be able to go out and have a nice time if we want to. Once the holiday is done, this will drop down to £200 a month, leaving a further £300 for saving - and my aim will be to throw this at my F&F pot - I want to save pay off the lowest debt in full by the end of the year

I also get travel expenses for work - ranging from £50 a month to £150 - but last few months have been low so not factoring this in.

We don't currently pay any rent, but pay all bills. This will not go on forever and at some point, we will have to move, and probably rent, but long term house savings are for getting us back on the ladder later on. However as our cash in the bank starts to grow, I will review debt repayment / Vs increasing house deposit with the mortgage people and see what's better (my credit score is shot, so my feeling is, even if I have paid debts down in full or go for partial settlements, I'm going to get worse rate offers anyway, so when the time come I'll try to figure out best approach.)

Be kind with me - it's taken me about 7 years to build up the courage to do an SOA! and in that time we've rollercoasted with income!
and my mission is to live and pay things off - but not get into further debt.

louby40

Well done for sharing your SOA, I know it's not always easy seeing the numbers.

It's so hard saving, paying down debts and living too! It's my constant everyday battle.

System

Oh yes indeed Louby. Even though I am much richer now than ever before, and lower bills, because I have divided the money around all the jobs it has to do, I still feel broke!!! But in reality, I am not broke - I am saving up!!! Mind set shift needed!!

System

It's PAYDAY!!!!!!! and payrise day! Yay. Actually thought I was going to be worse off in my take-home pay as I had increased my pension, but it was about £50 better than expected.

So here's how things stand for now.

• Barclaycard has been completely paid off
• 2018 Challenge Debt buster pot total is currently £148.64, which is 4.2% towards £3670 goal
• EF is at £500 (+£400 on loan due back in at some point)
• Holiday pot is at £775/2372 (32%)
• Car pot is at £200 (been underfunded this month due to B'card payoff)
• House deposit pot is at £259 (been underfunded as well)
• Christmas and gift pot has £137 in it. MIL b'd day this month so this will go down a bit (£20-£30)
• Grocery budget has been set to £300 with an entertainment/ eat out pot of £100. Last month we did £444, so hoping to bring this down. NEED TO MEAL PLAN -

Income to come in later in the month is child benefit and work expenses, and interest payment - so might try and swerve some of this into house and car pot, as well as debt bust down pot - hoping I might be able to tilly tidy this to a £100 ish this month.

I've also got something nice to look forward to - I am taking my mum to have lunch and an aromatherapy facial (already paid for facial) and have money saved for lunch, plus some spending money for clothes shopping (£150 in all)

System

I did a meal plan, and wrote a shopping list!!!!!!
and then of course forgot it when I went shopping!

Got the DD some clothes and shoes today - all within budget.
Did a BIG shop, but lots of store cupboard filling stuff.

Off to update YNAB. Happy Friday one and all.

Poor_Single_lady

I love a big shop and full cupboards. Makes me so happy to have a fully stocked kitchen. Hope you enjoy it. Xx

pidge04

Thank you for recommending tilly tidying to me! I have managed to find a couple of quid. I am surprised!

I have been reading your diary. Love your lists and love your focus!

System

ramblehan wrote: »

[*]Car pot is at £200 (been underfunded this month due to B'card payoff)
[/LIST]

3. New. Tyres. Urgh. Also bought a digital tyre thingy so I can keep checking and making sure tyres are OK. So car pot is completely empty. Have also had to book it in for next week as a warning light on and they need to run diagnostics. So that's got to come out of the EF. Cars!!!!!

Still - at least I had £200 in the pot - better than nothing. I'll start again next month!

System

pidge04 wrote: »

Thank you for recommending tilly tidying to me! I have managed to find a couple of quid. I am surprised!

I have been reading your diary. Love your lists and love your focus!

Lists help sometimes - but always need more focus!

TTFN