my SOA

amanndajane

incomings

wages £355.00
Tax Credit £450.00
Child Benefit £ 72.40
Child Support £140.00(if Ex Pays Up)
Students £320.00(if I Have Them)

total=£877.40/£1337.40

outgoings

mortgage £373.03
Council Tax £ 85.00
Gas £ 31.00(reduced Down From 48.00)
Electric £ 43.00(looking To Reduce)
Tv Licience £ 11.61
Virgin/tv/phone/bb £ 55.00
Denplan £ 22.90
INSURANCE 35.64(BUILDINGS/CONTENTS)
INSURANCE £32.23(LOOKING INTO WHAT THIS IS FOR)
INSURANCE £7.03(LOOKING INTO WHAT TJIS IS FOR
INSURENCE£5.48(LOOKING INTO WHAT THIS IS FOR)
MOBILE £29.99
GYM £14.00(WORKS OUT LESS THAN 50P A DAY)
WATER £10.64
SEWERAGE £14.73
PETROL £40.00
FOOD £160.00(DEPENDING ON STUDENTS)
TOTAL=£976.28

CREDIT CARDS
NATIONWIDE CREDIT LIMIT £7710 BALANCE £2194
ABBEY CREDIT LIMIT £2660 BALANCE £1864
BUT &FLY CREDIT LIMIT £2300 BALANCE £1966
A & L CREDIT LIMIT £1000 BALANCE £939

HOPE THIS ALL MAKE SENSE AND THAT I`VWE DONE IT RIGHT

poorandindenial

Hi amandajane

Well done for posting, at first glance there seem to be a couple of things that might be missing:

Could you also add details about your debts (that are listed in your signature, current balances, minimum monthly payments and APRs)

What about transport, do you take buses/trains or do you have a car?? If yes to either then you should list these in here, as well as food, cosmetics/toiletries, budgeting for birthdays and one offs, also costs for the kid(s) such as bus fares, school trips etc

You have a mortgage but you haven't listed any insurance for the house or contents.

If you can also give us all this it will help people to spot where you can make savings

You can edit your post above to add this info in so that it is all in one place

skint_spice

Hi AmandaJane,

I make your outgoings as £626.54 - is that right? Also there is no money for food, travel or insurance do you have these to add in? and your minimum payments to debts.

once these are in it'll be easier to see how much you've really got left at the end of the month.

Tiglet

Hi Amandajane,


Is your council tax paid over 10 months or 12? If it's 10 months, then you're due two months without payments - so make sure you use it to pay an extra £170 off your most expensive credit card. After that, you can change it to 12 months - that should reduce your bill to £71 per month, saving another £14 per month.

amanndajane

hi tiglet
my council tax is £85.00 for 10 months, it`s quite nice having 2 months free, i usually put that to pay for the car tax that comes in march.

hi skint
i`ve got my outgoings listed as £976.28 food £160 petrol £40 and there is a long list of insurances lol
i tend to pay the car insurance in full when it comes in

CREDIT CARDS
NATIONWIDE CREDIT LIMIT £7710 BALANCE £2194
ABBEY CREDIT LIMIT £2660 BALANCE £1864
BUT &FLY CREDIT LIMIT £2300 BALANCE £1966
A & L CREDIT LIMIT £1000 BALANCE £939

skint_spice

amanndajane wrote: »

hi skint
i`ve got my outgoings listed as £976.28 food £160 petrol £40 and there is a long list of insurances lol
i tend to pay the car insurance in full when it comes in

:rotfl: you sound like me when I started sorting things out - couldn't work out what the insurances were for at all! Have you used quidco? it's a good way of getting some cash back when you do get car/house insurance.
If you put the minimum payments against the debts that'll be the final step in working out how much you actually need as a minimum each month.

Well done on getting started.

amanndajane

skint_spice wrote: »

:rotfl: you sound like me when I started sorting things out - couldn't work out what the insurances were for at all! Have you used quidco? it's a good way of getting some cash back when you do get car/house insurance.
If you put the minimum payments against the debts that'll be the final step in working out how much you actually need as a minimum each month.

Well done on getting started.

minimum payments seem to change every month, i`ve been trying to throw money more at the nationwide as i owe the most on that one, and i think the apr is the highest on that one too, abbey next as thats not 0% either but the other two are still 0% so only doing min payments on them A&L is a fiver and buy and fly is normally around £40

amanndajane

amanndajane wrote: »

minimum payments seem to change every month, i`ve been trying to throw money more at the nationwide as i owe the most on that one, and i think the apr is the highest on that one too, abbey next as thats not 0% either but the other two are still 0% so only doing min payments on them A&L is a fiver and buy and fly is normally around £40

also i think some of those insurances might be ppi or mpi so need to look into that this week and work out if they are worth keeping !!

tealady

Hi. If you look at the Old style board there are loads of cheap money saving ideas which should help you shave a bit off your food and cleaning budgets.

joeblack066

Have you applied for Council Tax Benefit? I understand that HB is nigh on impossible with a mortgage but you may be entitled to CT benefit.

MaggieBear

Have you anything you could sell on ebay/Amazon to fling a bit more at those debt totals and bring them down?

Amazon on particular is a total scoosh to list on and you don't pay out if you don't sell.