Debtline numbers don't match my Excel numbers? (reposted with corrected info)

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twicedivorced
twicedivorced Posts: 8 Forumite
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in Debt-free wannabe
I'm probably being a bit daft (i was blonde once upon a time!) but I've just spent time putting my numbers into the Debtline system, and their "total outgoings" figure is different to mine, as are the figures in the SOA template (below). Are things like gifts / clothing / savings added into the committed spending figure, or are they amounts one would be expected to forgoe for debt repayment?

For info:
I have a lease car through work with all maintenance & insurance included.
I live in a shared ownership property with 25% owned outright and 25% on mortgage with buildings insurance included in the service charge.
I have NHS death in service so no life insurance, and I have term income protection starting when I would go to half pay if off long term sick.
Entertainment includes pocket money & quiz league subs / a drink every week.

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 1625
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1625

Monthly Expense Details
Mortgage................................ 199
Secured/HP loan repayments.............. 0
Rent.................................... 301
Management charge (leasehold property).. 41
Council tax............................. 81
Electricity............................. 60
Gas..................................... 40
Oil..................................... 0
Water rates............................. 24
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 13.5
Satellite/Cable TV...................... 17
Internet Services....................... 25
Groceries etc. ......................... 200
Clothing................................ 25
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 31.75
Buildings insurance..................... 0
Contents insurance...................... 14.5
Life assurance ......................... 0
Other insurance......................... 26.65
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 100
Holiday................................. 300
Emergency fund.......................... 50
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1614.4


Assets
Cash.................................... 350
House value (Gross)..................... 120000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 120350


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 19850....(199)......1.65
Total secured & HP debts...... 19850.....-.........-   

Unsecured Debts
Description....................Debt......Monthly...APR
Natwest........................5010......110.......19.6
New Day........................2854......29........0
Tesco..........................6390......64........0
First Direct...................8440......154.......14.2
Virgin.........................4011......41........0
MBNA...........................5162......52........0
Total unsecured debts..........31867.....450.......-  

Monthly Budget Summary
Total monthly income.................... 1,625
Expenses (including HP & secured debts). 1,614.4
Available for debt repayments........... 10.6
Monthly UNsecured debt repayments....... 450
Amount short for making debt repayments. -439.4

Personal Balance Sheet Summary
Total assets (things you own)........... 120,350
Total HP & Secured debt................. -19,850
Total Unsecured debt.................... -31,867
Net Assets.............................. 68,633

Comments

  • RAS
    RAS Posts: 32,759 Forumite
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    twicedivorced said:
    I'm probably being a bit daft (i was blonde once upon a time!) but I've just spent time putting my numbers into the Debtline system, and their "total outgoings" figure is different to mine, as are the figures in the SOA template (below). Are things like gifts / clothing / savings added into the committed spending figure, or are they amounts one would be expected to forgoe for debt repayment?

    For info:
    I have a lease car through work with all maintenance & insurance included.
    I live in a shared ownership property with 25% owned outright and 25% on mortgage with buildings insurance included in the service charge.
    I have NHS death in service so no life insurance, and I have term income protection starting when I would go to half pay if off long term sick.
    Entertainment includes pocket money & quiz league subs / a drink every week.

    Statement of Affairs and Personal Balance Sheet

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

    Monthly Income Details
    Monthly income after tax................ 1625
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1625

    Monthly Expense Details
    Mortgage................................ 199
    Secured/HP loan repayments.............. 0
    Rent.................................... 301
    Management charge (leasehold property).. 41
    Council tax............................. 81
    Electricity............................. 60
    Gas..................................... 40
    Oil..................................... 0
    Water rates............................. 24
    Telephone (land line)................... 0
    Mobile phone............................ 10
    TV Licence.............................. 13.5
    Satellite/Cable TV...................... 17
    Internet Services....................... 25
    Groceries etc. ......................... 200 possibly acceptable but you could certainly cut this by 50 and there are folk here working on 100 for 2 people
    Clothing................................ 25
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 20
    Pet insurance/vet bills................. 31.75
    Buildings insurance..................... 0
    Contents insurance...................... 14.5
    Life assurance ......................... 0
    Other insurance......................... 26.65
    Presents (birthday, christmas etc)...... 20
    Haircuts................................ 15
    Entertainment........................... 100 this is way too high; perhaps £30-50
    Holiday................................. 300 - also way too high. Likely to be accepted about the same as the entertainment - unless it is already booked and cancelling would cost more than going.
    Emergency fund.......................... 50
    (Unnamed monthly expense)............... 0
    Total monthly expenses.................. 1614.4


    Assets
    Cash.................................... 350
    House value (Gross)..................... 120000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 120350


    Secured & HP Debts
    Description....................Debt......Monthly...APR
    Mortgage...................... 19850....(199)......1.65
    Total secured & HP debts...... 19850.....-.........-   

    Unsecured Debts
    Description....................Debt......Monthly...APR
    Natwest........................5010......110.......19.6
    New Day........................2854......29........0
    Tesco..........................6390......64........0
    First Direct...................8440......154.......14.2
    Virgin.........................4011......41........0
    MBNA...........................5162......52........0
    Total unsecured debts..........31867.....450.......-  

    Monthly Budget Summary
    Total monthly income.................... 1,625
    Expenses (including HP & secured debts). 1,614.4
    Available for debt repayments........... 10.6
    Monthly UNsecured debt repayments....... 450
    Amount short for making debt repayments. -439.4

    Personal Balance Sheet Summary
    Total assets (things you own)........... 120,350
    Total HP & Secured debt................. -19,850
    Total Unsecured debt.................... -31,867
    Net Assets.............................. 68,633
    It's not clear how you only have to fund 50% of a house???????????  Do you live with someone else?

    Some other initial thoughts. You could easily make £350 payments towards your debts based on your budget.

    How have you managed to overspend by £32K over the last few years?
    The person who has not made a mistake, has made nothing
  • twicedivorced
    twicedivorced Posts: 8 Forumite
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    The house is shared ownership, I own 25% outright, have a mortgage on 25% and rent 50%.

    The holiday figure should be £30, there are random zeros in that template & I can't edit my post

    "Entertainment" includes my pocket money, quiz league subs & a drink at that quiz every week, it also includes my cinema pass at £10 a month and NT membership which both get used. 

    How can you see £350? 

    As to "overspend" - a £15k divorce bill (the loan) 5 months unemployed while single & relocating, storage costs while buying house, renovation, furnishing, new boiler, unknown £3k roof issue, 2 replacement doors & 1 window, previous car costs, vet bills for PTS cat (pre-insurance) and a blown-up oven
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,304 Forumite
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    RAS Could see £350 by removing £300 holiday and reducing entertainment to £50.

    So you have explained that holiday should be £30 but entertainment wants reducing.
    If you go down to the woods today you better not go alone.
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,304 Forumite
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    Go over to the Old Style board to help you reduce your food bill.

    Old style MoneySaving — MoneySavingExpert Forum

    You do need to realize that you will have to reduce your expenditure to go towards clearing the debts.
    If you go down to the woods today you better not go alone.
  • RAS
    RAS Posts: 32,759 Forumite
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    edited 2 August 2022 at 4:57PM
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    twicedivorced said:

    Statement of Affairs and Personal Balance Sheet

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

    Monthly Income Details
    Monthly income after tax................ 1625
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income....

    Assets
    Cash.................................... 350
    House value (Gross)..................... 120000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 120350


    Secured & HP Debts
    Description....................Debt......Monthly...APR
    Mortgage...................... 19850....(199)......1.65
    Total secured & HP debts...... 19850.....-.........-   

    Unsecured Debts
    Description....................Debt......Monthly...APR
    Natwest........................5010......110.......19.6
    New Day........................2854......29........0
    Tesco..........................6390......64........0
    First Direct...................8440......154.......14.2
    Virgin.........................4011......41........0
    MBNA...........................5162......52........0
    Total unsecured debts..........31867.....450.......-  

    Monthly Budget Summary
    Total monthly income.................... 1,625
    Expenses (including HP & secured debts). 1,294.4 amended to cover "reduced" holiday and entertainment
    Available for debt repayments........... 331.6 adjusted
    Monthly UNsecured debt repayments....... 450
    Amount short for making debt repayments. -118.4 actual deficit

    Personal Balance Sheet Summary
    Total assets (things you own)........... 120,350
    Total HP & Secured debt................. -19,850
    Total Unsecured debt.................... -31,867
    Net Assets.............................. 68,633
    Ok have adjusted this; the sums may not be perfect but....
    The person who has not made a mistake, has made nothing
  • twicedivorced
    twicedivorced Posts: 8 Forumite
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    Thank you. It's confusing as there are so many categories in the template.

    I still don't understand why the Debtline total was different - do they disegard things like personal expenditure & clothing?
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