10 years later yikes

1stTimer

I managed to get £2500 from the shares so If AI is right my new term should now be 27 months and
£2,620.33
interest saved 👍
I won’t know for certain until Monday as it’s the weekend but it’s been paid so all good

1stTimer

God know what happened to the format of that message, I did try to edit it 🤦‍♀️

1stTimer

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 4200
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 4200

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 235.5
Rent.................................... 1430
Management charge (leasehold property).. 0
Council tax............................. 153
Electricity............................. 58
Gas..................................... 37.94
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 14.95
Satellite/Cable TV...................... 39
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
(Amazon/Temu Pot)
Petrol/diesel........................... 0
(Car Pot)
Road tax................................ 0
(Annual Bills Pot)
Car Insurance........................... 0
(Annual Bills Pot)
Car maintenance (including MOT)......... 27.99
Car parking............................. 0
(Car Pot)
Other travel............................ 0.
(Car Pot)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 57.67
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 35
Annual Bills Pot........................ 125
Dog Pot................................. 300
Car Pot................................. 125
Tobacco................................. 150
Netflix................................. 5.99
Lottery................................. 25
Amazon/Temu Pot.............................. 100
Total monthly expenses.................. 3232.04

Assets
Cash.................................... 23293
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 10000
Other assets............................ 0
Total Assets............................ 33293

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 10793..(235.5)....11.8
Total secured & HP debts...... 10793...-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
PRA............................3213.22...0.........0
PRA............................1019.19...0.........0
Intrum.........................5201.16...0.........0
Intrum.........................3480.33...0.........0
Total unsecured debts..........12913.9...0.......

Monthly Budget Summary
Total monthly income.................... 4,200
Expenses (including HP & secured debts). 3,232.04
Available for debt repayments........... 967.96
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 967.96

Personal Balance Sheet Summary
Total assets (things you own)........... 33,293
Total HP & Secured debt................. -10,793
Total Unsecured debt.................... -12,913.9
Net Assets.............................. 9,586.1

Created using the SOA calculator at www.LemonFool.co.uk.
Reproduced on Moneysavingexpert with permission, using other browser

1stTimer

That took way more time than I intended! I first try to add this next to the Original from May to see a comparison but the new formatting did not like it. I tried a few different ways and just decided I would do a straight up paste from Lemonfool in the end but wasted about an hour!

This SOA is from Dec, looking at it and comparing to the May one when I first started posting again it would explain why I felt so demotivated in January as my Net assets hasn’t changed and it felt like I had gone backwards…

I now know that is not the case as if I was to do one from today my car loan would be a lot lower which would make my Net assets look better. However after spending all that time trying to do the post I have given up for the day and will do it at a later date.

The car situation did unfortunately put me back a fair bit after all the progress I had made in 2025 but such is life and now fingers crossed it will see me through for a good few years and I don’t get derailed again.

The debts all come off my credit report this year starting in Feb so once they have gone I am hoping I will be in a better position to offer a final settlement figure and they may just accept it now.

Smudgeismydog

£300pm for the dog pot? Is that right? You spend £100pm less than that on groceries!

£150pm on tobacco? I have never smoked, so admit it’s hard for me to empathise, but you only spend £200pm on groceries, so that figure looks staggering

Even lottery at £25pm stands out, honestly your chances of winning are so low. You would be better off sticking that into your emergency fund.

ellenvan

As the previous poster says you really need to try and reduce

Dogs, lottery and tobacco.

Maybe shop around for dog food, play lottery just once a month.

Tobacco - health and wealth will improve with a reduction.

1stTimer

Hello @Smudgeismydog

Thanks for taking a look at it, a fresh pair of eyes is always good to have.

Yes £300 for the dog, his dog walker is £40 a week and his food is £150 every 2 months so I put £75 a month in. The rest is used when he needs fleaing worming, grooming etc. Anything left rolls over and sits there until needed like what happened in Dec when he was injured and the insurance wouldn’t pay out.

Tobacco is something I have been actually hiding from my SOA’s as I know it’s the one thing everyone will comment on, but I figured if I am going to do this I may as well just bite the bullet and post it going forward. Lol

I like smoking and it works for me so not willing to give it up

Yes I know the lottery is a lost cause and I will never win bin, maybe this year I will cancel it if things start getting rough. What wasn’t on the SOA is the £925 a month I put into regular savers but I did add the totals to the cash assets.

Smudgeismydog

Ultimately, it’s down to what do you want to achieve?

You have more in savings than debt, and all of your unsecured debt looks to be on 0%. I believe you are now in your 40’s, are you looking to buy rather than continue renting?

ellenvan

Life can't always just be essentials.

Ultimately your priorities are exactly that, Yours.

Just because someone else thinks something is excessive, if it's essential to you, that's all that matters.

But sometimes our priorities change.

1stTimer

Thanks again both for the inputs it helps to see other points of view.

I will consider cancelling the lottery as it really isn’t needed. The dog is non negotiable unfortunately, his life will not change because I have decided to have new goals. And the tobacco I will accept was never going to land well which is why I always hid it previously.

I think when I look back to the start of this thread and also to my 1st SOA then I’ve done quite well but there is still room for improvements obviously and that’s where it helps when others spot the pain points so thank you