SOA budget for 2 adults?

hbp2008

Hi all, me again! My brain has been running wild with all bankruptcy questions and worries.

I know it will differ from different parts of the UK for rent etc but what is a ‘normal’ SOA budget that is acceptable for two adults and 2 cats for food, mobiles etc?

Are we at risk of losing our pets? I know this will sound stupid to some but I honestly don’t know what to expect, I’ve read every help guide there is and still feel like I have questions!

Thank you! X

debt_doctor

Hi,

Your pets are safe!
£500 pm for a couple (with no children) for housekeeping is reasonable.

Put up your SOA on here and we will make our comments and suggestions.

http://www.stoozing.com/calculator/soa.php

DD

hbp2008

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget Summary Amount(£)
Total monthly income 1,687
Monthly expenses (incl. HP & secured loans) 1,717.4
Available for debt repayments -30.4
UNsecured debt repayments 0
Amount short for making debt repayments -30.4
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 0
Total Secured & HP Debt -0
Total Unsecured Debt -0
Net Assets 0
Income, Expense, Debt & Asset Details

Income Amount(£)
Monthly income after tax 1375
Partners monthly income 0
Benefits 312
Other income 0
Total monthly income 1687
Expenses Amount(£)
Mortgage 0
Secured/HP loan payments 0
Rent 595
Management charge (leasehold property) 0
Council tax 133
Electricity 53
Gas 54
Oil 0
Water Rates 30
Telephone (land line) 19
Mobile phone 65
TV Licence 12
Satellite/Cable TV 0
Internet services 17.5
Groceries etc. 320
Clothing 20
Petrol/diesel 150
Road tax 12
Car Insurance 70
Car maintenance (including MOT) 19
Car Parking 28
Other travel 20
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 20.4
Pet Insurance/Vet bills 15
Buildings Insurance 0
Contents Insurance 9.5
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.) 10
Haircuts 30
Entertainment 0
Holiday 0
Emergency Fund 15
Total monthly expenses 1717.4
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 0 (0) 0
Secured & HP Debt totals 0 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
Unsecured Debt totals 0 0 -
Asset Description Value (£)
Cash 0
House Value (Gross) 0
Shares and bonds 0
Car(s) 0
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 0

hbp2008

Thank you, I hope that helps

debt_doctor

Your SOA is absolutely fine and there is no justification at all for an IPA (Money taken from your income).

DD

hbp2008

Just to check, does £65 for both mobile phones sound acceptable, and £320 for food, cleaning products, pet food etc sound okay?

Thanks

luvchocolate

Thats all fine , you can trust our very own Debt Doctor.......he knows his stuff!!