My God, has my life changed

vintagegirl

I have been in debt for my whole 20s and a single mum.
Now in the last 8 months, I met the love of my life on Tinder, got engaged, travelled the world and bought a house that we moved into.
we were paying a fortune in rent and now have a mortgage that's so cheap as a starter house.
I am ridiculously happy.
we borrowed £12k from family to put down a deposit and cleared any credit cards we had.
I was clearing mine anyway and my boyfriend didn't really have any so we bought everything we needed and are paying it back at £500 a month interest free.


I want this to be cleared a lot sooner, and we don't have to make any payments until September as we are going to USA before then but I want to start this month so we are ahead and any extra, put it in.
this is a joint soa but we keep our finances separate apart from the joint bills.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1670
Partners monthly income after tax....... 1727
Benefits................................ 0
Other income............................ 80
Total monthly income.................... 3477
Monthly Expense Details
Mortgage................................ 244
Secured/HP loan repayments.............. 613.75
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 116
Electricity............................. 28
Gas..................................... 28
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 135
TV Licence.............................. 0
Satellite/Cable TV...................... 77
Internet Services....................... 0
Groceries etc. ......................... 303.33
Clothing................................ 0
Petrol/diesel........................... 140
Road tax................................ 16.62
Car Insurance........................... 23.44
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 247.1
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 22
Contents insurance...................... 0
Life assurance ......................... 40.77
Other insurance......................... 0
Presents (birthday, christmas etc)...... 86.15
Haircuts................................ 0
Entertainment........................... 160
Holiday................................. 0
Emergency fund.......................... 0
ICLOUD STORAGE.......................... 4.98
SAVINGS................................. 400
gym..................................... 20
Total monthly expenses.................. 2731.14

Assets
Cash.................................... 0
House value (Gross)..................... 65000
Shares and bonds........................ 0
Car(s).................................. 1
Other assets............................ 0
Total Assets............................ 0

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 58500....(244)......2.94<
FAMILY LOAN....................12000....(500)......0<
TV.............................579.99...(47.75)....0<
COUCH..........................2298.....(66).......0
Total secured & HP debts...... 73377.99..-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 3,477
Expenses (including HP & secured debts). 2,731.14
Available for debt repayments........... 745.86
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 745.86
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -73,377.99
Total Unsecured debt.................... -0
Net Assets.............................. -73,377.99
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

comeandgo

You have entered your outstanding mortgage but not the value of your house, that is your asset, you also have car expenses but no car as asset.

vintagegirl

thank you, do you know how I can edit ?

vintagegirl

done it now thanks a lot

Mnd

For a moment there I thought it said mobiles £135!!

That is enormous

redofromstart

Just popping in to say hello and good luck with your journey :hello:

The_Moo

Congrats on the new house!

For your SOA you need to account for the TV licence. Do you pay for water where you live?

You should have contents insurance (unless this is included with the buildings insurance?)

If you're going on holiday, how are you paying for it if there's no allocation of funds for holidays?

Mobile phone costs has got to be an error?

Good luck!

vintagegirl

hi thanks for all your replies, the mobiles are big but tied in until next year then going to sim only.
the holiday is paid for