My SOA

Kimberley

Can someone check this? I know I will have an IPA. That is not a problem but I just cannot afford the minimum payments on my CC anymore. They anounted to over £550 a month and that was just the minimum payment.
I’ve had to do this by hand as I have no computer to do this the other way.

Basic Wages fluctuate between £380-£410 a week after tax
£60 a month from Son (works part time)
£125 a month from Daughter (moving out soon)

£1705 approx a month income

Animal Healthcare (vets) 13.40
British Gas (soon going up) 138.00
Pet Insurance. 31.37
Work Union. 10.00
Car tax. 13.12
EE broadband. 32.39
Car Service/MOT 18.10
Car Ins. 41.56
02 (mine). 55.01
Sky. 10.00
Water. 34.98
Home contents Ins. 9.14
TV license. 12.37
Rent. 484.36
Council Tax. 121.00
Prescriptions (2 lots) 14.00
Pet food. 13.00
Groceries. 320.00
Petrol. 110.00
Clothes. 20.00
Medical/Dentist 15.00
Presents. 20.00
Haircuts/Colour (Every 6 weeks) 20.00
Entertainment. 15.00
Work lunch. 14.00

Total. 1749.31



Assets 1 Car worth 850 as private poor

Debts

Halifax 4,128
MBNA. 8,342
Lloyds. 6,465
Tesco. 2,626
Barclaycard 7,688
Natwest. 1,184
Natwest OD. 1,200
Argos. 628
Debenhams/Newday. 1,175

Total debts although will be more now with missed payments 33,446 approx

Kimberley

I have questions too

Do they check kids income?
I need car to drive to East London as i help sister to look after my mum in my rest days. How do i prove this?
Do they want receipts on everything you buy?
Do they want card payments only or are you allowed to take cash out and if so do they want you to prove where you spent that cash?
How often do they ask for bank statements?
How do they check you are spending according to your SOA?

luvchocolate

Hi just a couple of points.
doubt if lotto will be allowed gambling is frowned on...if son is working part time and paying board maybe he should pay his own mobile phone?
Hairdressing is a little high but groceries could go up a bit.

Once a S.O.A is approved its up to you how you spend your allowances, they have not got the time to check what you actually spend it on.

My examiner looked back over 2 years bank statements and 1 year credit card statements but they can go back as far as they need to.

Kimberley

luvchocolate wrote: »

Hi just a couple of points.
doubt if lotto will be allowed gambling is frowned on...if son is working part time and paying board maybe he should pay his own mobile phone?
Hairdressing is a little high but groceries could go up a bit.

Once a S.O.A is approved its up to you how you spend your allowances, they have not got the time to check what you actually spend it on.

My examiner looked back over 2 years bank statements and 1 year credit card statements but they can go back as far as they need to.

Lotto has been cancelled. I forgot to add pet ins. Hair cut is £55 every 6 weeks. How much should it be then?

Craig1981

i would look at:
prescriptions - yearly one is £104 for as many as is needed, you currently pay £158
garden - £480 a year
haircuts - ££470 odd a year
mobile phones - son needs to do his own if he is a non-dependnand and working - yours needs to decrease - sim only or payg

Kimberley

Craig1981 wrote: »

i would look at:
prescriptions - yearly one is £104 for as many as is needed, you currently pay £158
garden - £480 a year
haircuts - ££470 odd a year
mobile phones - son needs to do his own if he is a non-dependnand and working - yours needs to decrease - sim only or payg

Mobiles are contracts so how does that work?
I have two prescriptions a month. How do I get them cheaper?
Garden is needed as I can’t do it myself
I need my hair cut. Where can I get it cut cheaper?

Placitasgirl

With regards to cutting the cost of hair cuts. Do you have a hair and beauty college nearby that you could get to? If so these offer cut price services in return for you allowing the trainees to cut, colour etc your hair whilst under full supervision from a tutor. I use our local college for massages and beauty services with final year students and they have often been better than some fully qualified therapists/hairdressers I've used in the past.

Alternately do try your local salons; many have "training days" or sessions and ask for models who pay a much reduced price for their services. Once again your appointment should be supervised by a senior member of staff to ensure you're happy with the result. Another option would be to "downgrade" the level of sylist who cuts your hair, ie if I dropped one level from "Designer" to Senior Stylist at the salon I use it would save me over £500 a year.

Hope these suggestions may be of help and wish you luck with your savings journey.

madvicker

Kimberley wrote: »

Mobiles are contracts so how does that work?
I have two prescriptions a month. How do I get them cheaper?
Garden is needed as I can’t do it myself
I need my hair cut. Where can I get it cut cheaper?

What they mean is:
- When your contract comes to an end, switch to a SIM only deal and ignore the brand new phone upgrade.
- You can get an annual prescription for £108 which covers any prescriptions you need
- What kind of garden do you have? Are you sure you need to spend that much? Can you reduce the number of times you have it done?
- See post just below yours

Kimberley

Okay thanks. Never realised in BR you are made to reduce your living costs. So how do they ask you to reduce the costs of everything else? Will i be made to go on a pre payment meter for fuel? Will i be told I have to have a cheaper pet insurance etc etc??

normanna

Surely, this is a joke? You didn't realise you would have to cut your living costs?

Many people paying their debts on time and in full each month make a choice to pay their bills or have luxuries - sounds like you want your cake and eat it. Large mobile phone bills, expensive hairdressers, gardeners are all luxuries.

Kimberley

normanna wrote: »

Surely, this is a joke? You didn't realise you would have to cut your living costs?

Many people paying their debts on time and in full each month make a choice to pay their bills or have luxuries - sounds like you want your cake and eat it. Large mobile phone bills, expensive hairdressers, gardeners are all luxuries.

How dare you. You do not know me at all to make those assumptions. I have not said I want to live a life of luxury. If I need to cut back I will but many on here have said they give you a reasonable living allowance so i’m asking for help to get my SOA to a level where it will be acceptable.

I’m also aware i’d get an IPA. I’m not trying to avoid paying my debts, I just cannot afford to pay them. I was paying over £500 a month on just the minimum payment without the actual debt decreasing.