moment of shame SOA

confused!_13

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1320
Partners monthly income after tax....... 0
Benefits................................ 75
Other income............................ 0
Total monthly income.................... 1395

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 111
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 51
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 10
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 100
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 21
Contents insurance...................... 21
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1054

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
loan welocme...................2600......153.......27
loan black horse...............5000......111.......11
next...........................80........20........20
vanquis........................980.......45........20
mbna...........................3000......42........0
catalouge......................90........20........9
Total unsecured debts..........11750.....391.......-

Monthly Budget Summary
Total monthly income.................... 1,395
Expenses (including secure debts)....... 1,054
Available for debt repayments........... 341
Monthly UNsecured debt repayments....... 391
Surplus(deficit if negative)............ -50

Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total Secured debt...................... -0
Total Unsecured debt.................... -11,750
Personal net worth...................... -9,750

Expalination of SOA - and excuses why cwertian things are so much!!

I dont have a mortgage, live with partner - he pays mortgage £832 a month i pay all household bills, hence no
house as such on there.

Petrol - i need this much for work - i do claim some back, this is included as an average on my wages
mobile phone - still in contract cant cancel, no sky or anything like that - work pay for i-net


Food, i am feeding a family of 4, so its not too bad at £50 a week

Thoughts please.i could pay off welcome loan if i borrow more from black horse, who said i could but instead of having 18 months left as i do with welcome i would be looking at 4 years!!!

Advice, help assistance needed

patchwork_cat

Your car insurance is phenomenal.

tallyhoh

Are all these debts yours? or joint?

Cleosmum

Get your car insurance cancelled and set up with someone else!!!

Can you get your OH to take on paying the buildings and contents insirance to give you a breather, he is only paying the mortgage, so Im assuming he has a bit left over each month? A joint SOA is always better, you are a team, deal with it as a team

timnicebutdim_2

Your buildings and contents seem high if its £42 combined. I think you could get both for £21 per month (and switch through quidco for cashback)

Clariman

Reformatted for you. You missed one of the tags when you copy and pasted ...

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1320
Partners monthly income after tax....... 0
Benefits................................ 75
Other income............................ 0
Total monthly income.................... 1395

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 111
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 51
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 10
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 100
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 21
Contents insurance...................... 21
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1054

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly.. .APR
loan welocme...................2600......153.......27
loan black horse...............5000......111.......11
next...........................80........20....... .20
vanquis........................980.......45....... .20
mbna...........................3000......42....... .0
catalouge......................90........20....... .9
Total unsecured debts..........11750.....391.......-

Monthly Budget Summary
Total monthly income.................... 1,395
Expenses (including secure debts)....... 1,054
Available for debt repayments........... 341
Monthly UNsecured debt repayments....... 391
Surplus(deficit if negative)............ -50

Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total Secured debt...................... -0
Total Unsecured debt.................... -11,750
Personal net worth...................... -9,750

Gemmzie

confused! wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1320
Partners monthly income after tax....... 0
Benefits................................ 75
Other income............................ 0
Total monthly income.................... 1395

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 111
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 51
Telephone (land line)................... 0
Mobile phone............................ 40 this is high, how long does your contract have to run?
TV Licence.............................. 10 bit pedantic, but it's probably nearer 11.50
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40 for you and kids?
Petrol/diesel........................... 200
Road tax................................ 10 lowest is now 11 (those little bits add up!)
Car Insurance........................... 100 :eek: what are you driving?!
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 40 what does this cover?
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 21 these two together seem high
Contents insurance...................... 21 ^^
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 40 what is this covering? could it be cut back
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1054

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
loan welocme...................2600......153.......27 can you overpay this?
loan black horse...............5000......111.......11 as above
next...........................80........20........20
vanquis........................980.......45........20
mbna...........................3000......42........0 how long is this 0% for?
catalouge......................90........20........9
Total unsecured debts..........11750.....391.......-

Monthly Budget Summary
Total monthly income.................... 1,395
Expenses (including secure debts)....... 1,054
Available for debt repayments........... 341
Monthly UNsecured debt repayments....... 391
Surplus(deficit if negative)............ -50

Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total Secured debt...................... -0
Total Unsecured debt.................... -11,750
Personal net worth...................... -9,750

Expalination of SOA - and excuses why cwertian things are so much!!

I dont have a mortgage, live with partner - he pays mortgage £832 a month i pay all household bills, hence no
house as such on there.

Petrol - i need this much for work - i do claim some back, this is included as an average on my wages
mobile phone - still in contract cant cancel, no sky or anything like that - work pay for i-net


Food, i am feeding a family of 4, so its not too bad at £50 a week

Thoughts please.i could pay off welcome loan if i borrow more from black horse, who said i could but instead of having 18 months left as i do with welcome i would be looking at 4 years!!!

Advice, help assistance needed

I think with a couple of switches, you'll find that £50 a month fairly easily and then you can snowball (https://www.whatsthecost.com)

confused!_13

Thanks all for reply...
answers to q's commebts are below...

Mobile phone is high.. £40 i a tied in for 8 more months, they wont let me drop the package

£40 clothing is for me and kids, they get a lot bought for them by grand-partents etc such as school uniform etc.

Road tax, i save £10 a month, so it must of gone up now to £11 - i should correct this!

Car insurance is cheapest avaialble, i have checked all the comparison sites and the policy i have is the best and cheapest for my situation - i do almost 500 miles a week, and i have only passed my test in the past year, also i have to be covered for carrying company equipment and useage for work, if i removed these from my policy i would be paying 400 fully comp, but i dont want to 'fraud' the insurance company ie have an accident on work related business and find out i am not covered.

Other child related expenses include swimming lessons, and after school french lessons once a week, combined they come to £40 a month.

Building and contants is best on market - prone to flood so buildings is high - covered old for new due to prone to floods so high again

teh entertainment of £40 covers such things as DVDs for kids at weekend, or if we go to a free museum and we buy sweets to take, and i go out once a month and spend approx £10. i suppose i could cut back but i feel once a month is a fair deal

I could overpay on the loans but if you look at the state of my SOA i dont have money left over to overpay!!

the 0% is for the balance, i called to say i couldnt afford to pay - they have been very good and said if i do not use my card they will freeze interest and allow me to pay minumum £42 a month - to be reviewed in 24 months

Debts are mone. I had a bad time prior to meeting my partner, i was off work for 12 months and thought i needd teh loans to get by.

I havent told him about my debts as he hates them. i dont want to at this point - i think he would take it that i have lied to him. we have seperate accounts etc, our house hold bills are split almost to the penny with him paying mortgage me the rest of the bills.

Gemmzie

At the moment you don't have the funds to overpay but it's important to find out if loans do allow is as you should be looking at attacking the welcome loan first due to the interest.

Is there any way work would cover any of the insurance then?

If you can't cut anything else, then the treats have to be cut. Or can you increase your income at all?

confused!_13

looking at it i am under the same impression
Work doesnt pay overtime, and getting a p/t job is out of question i imagine as it would be evenings and weekends and although i am not classsed as disabled i have great troubke walking, standing etc for periods of time and the only p/t eve/weekend jobs i can find are bar work, or waiting on both of which i am not capable of doing. i have re done my soa again and even taking the £40 out that we spend of treats, and looking at it last month it was more like £25 and that included easter eggs i am still short. black horse said i can lend £s off them to pay off welcome and although it is over 5 years as oppossed to the 19 months i have left with welcome i could throw money at it in overpayments and also pay off my catalouges quicker?? i know i shouldnt borrow to pay debts but in this case is it viable???

MissEyre

You really need to pick up the insurance issue with the company you work for-if they are expecting you to be insured for company business and it is adding £600 a year to your premium, that is really unfair. Have you discussed this with them?

Also I was a bit concerned that your partner knows nothing at al about your debts-have you tried to discuss them with him at all?