my SOA.

emmaroids

can anyone see where i can make some adjustments please?

Take home pay £300 p/w
Child Benefit £120 p/m
Working tax credit £13 p/w
Child tax credit £69 p/w

total income £412 p/w
or £1785 p/m


Most common outgoings

Rent/Mortgage £410 p/m
Secured loan/2nd mortgage £191 p/m
secured loan £119 p/m
debt management plan £126 p/m
Water (supply & waste) £20 p/m
Council tax £100 p/m
Gas £50 p/m
Electricity £60 p/m
Building and contents insurance £25 p/m
Internet and landline £40 p/m
Mobiles £20 p/m
Satellite/cable rental £31 p/m
TV licence £11 p/m
Road tax £9 p/m
Car insurance £14 p/m
Fuel & Parking £40 p/m
Food, toiletries & cleaning £260 p/m
Pet food/insurance £16 p/m
Clothing and footwear £10 p/m *
Opticians £10 p/m *
Sports, hobbies and entertainment £10 p/m *
Eating out/take aways £20 p/m


* token amounts

total spendage £1592 p/m ** 2 adults and 2 kids **

currently paying council tax arrears and that is swallowing the 200 or so quid thats left that is due to be finished in may.

any help or advice would be greatfully received.

saffronflowers

Take home pay £300 p/w £1300 pm
Child Benefit £120 p/m £130 pm
Working tax credit £13 p/w £56 pm
Child tax credit £69 p/w £299 pm

total income £412 p/w £1785 pm
or £1785 p/m


Most common outgoings

Rent/Mortgage £410 p/m
Secured loan/2nd mortgage £191 p/m
secured loan £119 p/m
debt management plan £126 p/m
Water (supply & waste) £20 p/m
Council tax £100 p/m
Gas £50 p/m check this and electricity on Uswitch
Electricity £60 p/m
Building and contents insurance £25 p/m
Internet and landline £40 p/m Is this the cheapest option
Mobiles £20 p/m
Satellite/cable rental £31 p/m I get all of these and internet and phone for £45
TV licence £11 p/m
Road tax £9 p/m
Car insurance £14 p/m
Fuel & Parking £40 p/m
Food, toiletries & cleaning £260 p/m Am assuming this for 1 adult two kids, can be cut down by at least £60
Pet food/insurance £16 p/m
Clothing and footwear £10 p/m *
Opticians £10 p/m *
Sports, hobbies and entertainment £10 p/m *
Eating out/take aways £20 p/m


* token amounts

total spendage £1592 p/m

Well you could have about £200 spare with a few adjustments

SFx

Numpty_Monkey

Hi emma

is is the dmp a done through one of the free/charitable ones?
Gas and electric seem a bit high :money: have you had a look at the comparision sites?

phone/internet/sky or cable =£71 per month
my phone and internet is with talktalk about £17 per month free evening weekend

if your with sky or virgin have a look at the bundle packages, phone,internet,tv

Hope thats of some help:A

emmaroids

Numpty_Monkey wrote: »

is is the dmp a done through one of the free/charitable ones?
Gas and electric seem a bit high :money: have you had a look at the comparision sites?

yes, my DMP is with the CCCS.

and as for my gas/electric, im currently paying extra to get the balance down from winter usage (it then goes down in the summer)
if i was to change providers i would get a bill to clear any outstanding payments due on the account or would the balance be transfered to the new provider?

lazy_daisy

NumptyMonkey gives good advice....I don't know what it is like near you but we get broadband, free UK 24/7 land line calls and basic cable channels (dozens of the things!) for £29/month. Other companies around the country must do this, perhaps even cheaper. If you miss seeing movies then your local library will probably rent DVDs much cheaper than the high st rentals, £1 per night here even with the new releases so definitely worth a look.
Good luck!
Also Check out the old style board. I see you don't spend much on eat out/take aways but do try Curry Queens 'take away' curries! (Unless of course your name is close to the truth..............ouch!)

rayday2

All I can think is when you have your arrears caught up with on council tax see if you can monthly rather than over 10 months it is possible with most councils.

freda

Rent/Mortgage £410 p/m
Secured loan/2nd mortgage £191 p/m
secured loan £119 p/m
debt management plan £126 p/m who is this with?
Water (supply & waste) £20 p/m metered or rates? Doesn't seem very high - are you sure this is right?
Council tax £100 p/m
Gas £50 p/m
Electricity £60 p/m Gas and elec both rather high - are you paying off arrears? Can you shpop around to get a cheaper deal, and then cut back on your useage (easier now spring is on the way). See www.lbym.co.uk for ideas.

Building and contents insurance £25 p/m
Internet and landline £40 p/m Seems a lot? I pay £10 pcm for broadband, £11.50 for line rental from bt and about £3 in calls using 18866.com

Mobiles £20 p/m Do you really need to use them so much? Can you get payg and change your habits so it is only used for emergencies? Email, use the landline, skype, msn etc instead.

Satellite/cable rental £31 p/m Do you really need this? What is wrong with freeview?

TV licence £11 p/m

Road tax £9 p/m
Car insurance £14 p/m
Fuel & Parking £40 p/m
What about car maintnenance, MOT, roadside recovery ?

You don't drive far if you spend less than £40 pcm on petrol - do you really need a car?

Food, toiletries & cleaning £260 p/m Is this 2 adults, 2 kids? if so, that is quite a tight budget, remembering it has to include all your toiletries, nappies, food, alcohol, stamps, cleaning stuff, lightbulbs etc etc. Are you sure this is all you spend?

Pet food/insurance £16 p/m

Clothing and footwear £10 p/m * Nowhere near enough for the long term. Adults will need to replace essentials at some point - work clothes, trainers, jeans, winter coats. Children will need constant new clothes and shoes, let alone uniforms, gym kits etc if at school. Even with charity shops and hand me downs you can't cloth a family of 4 on £120 per year.

Opticians £10 p/m *
Sports, hobbies and entertainment £10 p/m *
Eating out/take aways £20 p/m

You are missing:

Emergency fund
Kids activities
Any subscriptions - gym etc?
Life assurance?

Have you kept a spending diary to track the day to day spends, to make sure your SOA is accurate? It could be a really useful thing to do.