Debts up to my eyeballs

WannabeFree

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................ 2052.08
Partners monthly income after tax....... 1173.35
Benefits................................ 149.07
Other income............................ 267
Total monthly income.................... 3641.5

Monthly Expense Details
Mortgage................................ 426
Secured/HP loan repayments.............. 960 How long left on this?
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 165 Over 10 or 12 months? Sometimes asking to pay over 12 months helps with budgeting
Electricity............................. 100 :eek: Check what you can do to cut this down
Gas..................................... 50
Oil..................................... 0
Water rates............................. 100 :eek:
Are you on a water meter?
Telephone (land line)................... 60 Too expensive. Shop around
Mobile phone............................ 140 :eek:
too expensive. When do your contracts end? Switch to sim only.
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 9
Groceries etc. ......................... 500 This could easily be cut down, even as far as by half!
Clothing................................ 60 Every month?
Cut back to basics I mean real basics until you're in a better position
Petrol/diesel........................... 160
Road tax................................ 38
Car Insurance........................... 30
Car maintenance (including MOT)......... 40 Do you save this for when it's needed?
Car parking............................. 40
Other travel............................ 160
Childcare/nursery....................... 120
Other child related expenses............ 160
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 40 Make sure you shop around and use cashback sites at renewal
Buildings insurance..................... 30
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 20
Presents (birthday, christmas etc)...... 20 Is this realistic?
Haircuts................................ 20
Entertainment........................... 10 Again is this realistic with children?
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 3510
Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 140000

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 73000....(426)......5.75
Secured Debt.................. 36000....(960)......31.77
Total secured & HP debts...... 109000....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
Unsecured lending..............47417.....0.........0
Total unsecured debts..........47417.....0.........-

Monthly Budget Summary
Total monthly income.................... 3,641.5
Expenses (including HP & secured debts). 3,510
Available for debt repayments........... 131.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 131.5 Do you actually have this left?

Comments in red. I'm guessing you need to put in the unsecured lending whatever you are paying your DMP?

The good thing is there is a lot of room to cut back.

JuniperPanda

Top Cash Back! buying things I had to buy anyway, even at a discounted price and currently have almost £40 pending. This is marvellous

JuniperPanda

Sorry I missed your comments when i posted

ive revisited the budget and its a lot better now.

The payment to step change will be 404 pounds a month

The grocery shopping and the clothing allowance was what the advisor gave me. Ill post a new one once they send me a finalised copy

JuniperPanda

Moved one of the mobiles onto a cheap plan- saving 11 quid a month. Another one can be moved in 22 days, reminder in calendar.