Should I cash in my great grandparent's premium bonds? (2)

zxzx1974

I still have those £25 premium bonds...

Latest SOA:
Statement of Affairs and Personal Balance Sheet

Monthly Budget Summary
Total monthly income.................... 732.1
Expenses (including secure debts)....... 655.67
Available for debt repayments........... 76.43
Monthly UNsecured debt repayments....... 46
Surplus(deficit if negative)............ 30.43

Personal Balance Sheet Summary
Total assets (things you own)........... 532
(Assets less secured debt).............. 532
Total liabilities(what you owe)......... 3532.74
Personal net worth...................... -3000.74

Monthly Income Details
Monthly income after tax................ 732.1
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 732.1

Monthly Expense Details
Mortgage................................ 0
Secure loan repayments.................. 0
Rent.................................... 200
Management charge (leasehold flat)...... 0
Council tax............................. 34.59
Electricity............................. 25.64
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 6
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 160
Clothing................................ 10
Haircuts................................ 0
Entertainment........................... 0
Petrol/diesel........................... 30
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 27.5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 8
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 2.94
Holiday................................. 10
Emergency fund.......................... 20
Lunches................................. 20
Total monthly expenses.................. 655.67

Secure Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........N/A
Total secured debts........... 0.........N/A.......N/A

Unsecured Debts
Description....................Debt......Monthly...APR
First Direct...................2736.37...29........6.25
Barclaycard....................796.37....17........14.9
Total unsecured debts..........3532.74...46........N/A

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 32
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 532

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

I started my 2nd job last month. The pay for it has all been screwed up and won't arrive until next Monday. It's a bit of a guess too. I'll update it when I have some exact figures. From next month I'll be worse off as the 10% tax rate band will become 20%. :eek:

My housing benefit claim is going slowly... I suspect that with my 2nd job I now earn too much to claim. Maybe things will be different under the new Local Housing Allowance that starts on the 7th April?

My Nationwide overdraft has been paid off with the pay from my 2nd job. I still have the £250 limit and the EAR is 9.9%

First Direct have moved my gold credit card and combined it with my overdraft. They have sent me a new "Fixed Sum Loan Agreement" to sign so that I will agree to their "Repayment Agreement Terms" of £29 a month at base rate + 1%. I'm not too sure if I should sign as I thought my overdraft was already covered by my initial agreement when I opened the account back in 1990. Also the new agreement clearly states that full repayment will be due in 12 months times. There is mention of "relaxing the terms of agreement" There is also an accompanying "Customer Assistant Guide" but does not seem to form part of the agreement. In total it runs to 5 pages. I could really do with some help on this.

I'm supposed to speak with Barclaycard this week. I can now make the minimum payments of 2.25% each month. My 0% 6 month offer on purchases runs out on 11th April. So far I haven't paid any interest but will do from the next statement in April.

I've been surviving with no cash since Thursday last week.

On Monday this week I used the Coinstar to swap all my small change for some food at Tesco. It cost me 8.9% or 24p on the £3.04 I had!!!

Can you please scrutinise the above SOA?

For next month I have enough for everything in my budget except for groceries. I only have £133 until the 24th.The above SOA is based on National Debtline's budget. The £160 household is called groceries in the above SOA and is supposed to cover enough for me to live on. :eek:

Any thoughts will be most welcome. :rolleyes:

Candy0107

Hi,

Bumping you up.

floss2

zxzx1974 wrote: »

I still have those £25 premium bonds...

Latest SOA:
Statement of Affairs and Personal Balance Sheet

Monthly Budget Summary
Total monthly income.................... 732.1
Expenses (including secure debts)....... 655.67
Available for debt repayments........... 76.43
Monthly UNsecured debt repayments....... 46
Surplus(deficit if negative)............ 30.43

Personal Balance Sheet Summary
Total assets (things you own)........... 532
(Assets less secured debt).............. 532
Total liabilities(what you owe)......... 3532.74
Personal net worth...................... -3000.74

Monthly Income Details
Monthly income after tax................ 732.1
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 732.1

Monthly Expense Details
Mortgage................................ 0
Secure loan repayments.................. 0
Rent.................................... 200
Management charge (leasehold flat)...... 0
Council tax............................. 34.59 this is very cheap..?
Electricity............................. 25.64
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 6 how come it's only £6?
Satellite/Cable TV...................... 0
Internet Services....................... 0 so you have no internet?
Groceries etc. ......................... 160
Clothing................................ 10
Haircuts................................ 0
Entertainment........................... 0
Petrol/diesel........................... 30
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 27.5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 8
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 2.94
Holiday................................. 10
Emergency fund.......................... 20
Lunches................................. 20
Total monthly expenses.................. 655.67

Secure Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........N/A
Total secured debts........... 0.........N/A.......N/A

Unsecured Debts
Description....................Debt......Monthly...APR
First Direct...................2736.37...29........6.25
Barclaycard....................796.37....17........14.9
Total unsecured debts..........3532.74...46........N/A

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 32
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 532

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Have I missed something, only your gas/electric seem quite low, your council tax is only about £415 a year, and only £6 for a tv licence when it is £12ish?

Apart from that. it seems ok....I suggest you menu plan for your food shopping to go further

Cleosmum

Is the £160 groceries just for you?

zxzx1974

Council tax............................. 34.59 this is very cheap..?
TV Licence.............................. 6 how come it's only £6?
Internet Services....................... 0 so you have no internet?
I pay my landlord £316.23 every month and have done since I moved in Dec '04. £200 is my rent and the rest covers half the bills:
Gas
Electric
Telephone
Cable TV
Internet Access
Water
TV Lic
Council Tax

I don't know the exact amounts so I've been guessing when it comes to my budget by using the figures in my SOA.

Is the £160 groceries just for you?
It is. On National Debtline's budget they call it "Housekeeping" and describe it as including food, toiletries, cleaning materials, newspapers and so on and a small amount for entertainment and other spending. There's a rough guide and for a single person it's £152-£195.

I've just finished looking at my actual expenditure for the last 6 months. I need to check the figures but will post and updated SOA soon.

zxzx1974

Revised SOA based on last 6 months actual spending:

Statement of Affairs and Personal Balance Sheet

Monthly Budget Summary
Total monthly income.................... 732.1
Expenses (including secure debts)....... 676.84
Available for debt repayments........... 55.26
Monthly UNsecured debt repayments....... 47
Surplus(deficit if negative)............ 8.26

Personal Balance Sheet Summary
Total assets (things you own)........... 525
(Assets less secured debt).............. 525
Total liabilities(what you owe)......... 3532.74
Personal net worth...................... -3007.74

Monthly Income Details
Monthly income after tax................ 732.1
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 732.1

Monthly Expense Details
Mortgage................................ 0
Secure loan repayments.................. 0
Rent.................................... 200
Management charge (leasehold flat)...... 0
Council tax............................. 34.59
Electricity............................. 25.64
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0 (included in rent)
Mobile phone............................ 5
TV Licence.............................. 6
Satellite/Cable TV...................... 0 (included in rent)
Internet Services....................... 0 (included in rent)
Groceries etc. ......................... 160
Clothing................................ 10
Haircuts................................ 0 (included in groceries)
Entertainment........................... 0 (included in groceries)
Petrol/diesel........................... 52.18
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 25.75
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 8.34
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 8.34
Holiday................................. 10
Emergency fund.......................... 20
Other: Lunch at work.................... 20
Total monthly expenses.................. 676.84

Secure Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........N/A
Total secured debts........... 0.........N/A.......N/A

Unsecured Debts
Description....................Debt......Monthly...APR
First Direct...................2736.37...29........6.25
Barclaycard....................796.37....18........14.9
Total unsecured debts..........3532.74...47........N/A

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 25
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 525

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

I suggest you menu plan for your food shopping to go further.
I need some major help with shopping.

I went shopping at Aldi last night and forgot to get the milk. :eek:

zxzx1974

Latest revision:

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 734.11
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 734.11

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 200
Management charge (leasehold flat)...... 0
Council tax............................. 34.59
Electricity............................. 25.64
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 5
TV Licence.............................. 6
Satellite/Cable TV...................... 0 (Included in rent)
Internet Services....................... 0 (Included in rent)
Groceries etc. ......................... 108.25
Clothing................................ 10
Petrol/diesel........................... 52
Road tax................................ 11
Car Insurance........................... 32.75
Car maintenance (including MOT)......... 23
Car parking............................. 5
Other travel............................ 20.78
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 8.34
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 8.34
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 10
Emergency fund.......................... 10
Other: Savings.......................... 10
Other: Meals at work.................... 20
Other: Union Subs....................... 7.95
Other: Laundry/Cleaning................. 2.5
Other: Drinking Out..................... 5
Other: Eating Out....................... 10.83
Total monthly expenses.................. 686.97

Assets
Cash.................................... 33.57
House value (Gross)..................... 0
Shares and bonds........................ 25
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 558.57

Secure Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........N/A
Total secured debts........... 0.........N/A.......N/A

Unsecured Debts
Description....................Debt......Monthly...APR
First Direct...................2736.37...29........6.25
Barclaycard.................... 796.37...18....... 14.9
Total unsecured debts..........3532.74...47........N/A

Monthly Budget Summary
Total monthly income.................... 734.11
Expenses (including secure debts)....... 686.97
Available for debt repayments........... 47.14
Monthly UNsecured debt repayments....... 47
Surplus(deficit if negative)............ 0.14

Personal Balance Sheet Summary
Total assets (things you own)........... 558.57
Total Secured debt...................... 0
Total Unsecured debt.................... 3532.74
Personal net worth...................... -2974.17

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

zxzx1974

National Debtline budget:

Rent £200.00
Council Tax £34.59
Water rates £20.00
Gas £30.00
Electricity £25.64
Housekeeping £180.37
TV rental and licence £6.00
Travelling expenses £144.53
School meals and meals at work £20.00
Clothing £10.00
Laundry/cleaning £2.50
Phone and mobile phone £5.00
Prescription and health costs £8.34

MSE Budget Planner
Home £323.73
Eats and Drinks £144.08
Transport and Travel £144.53
Debt Repayments £47.00
Savings and Investments £20.00
Health £18.34
Clothes £10.00
Big One Offs £18.34
Odds and Sods £7.95