Soa

Jaystag

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1423
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1423

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 350
Management charge (leasehold flat)...... 0
Council tax............................. 102
Electricity............................. 30
Gas..................................... 72
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 952

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
HSBC Managed Loan..............5400......200.......13.2
London Scottish Loan...........1690......94........50.0
Capital One C/Card.............100.......5.........19.9
Payday Loan....................200.......40........0
A&L Overdraft..................500.......5.........0
Total unsecured debts..........7890......344.......-

Monthly Budget Summary
Total monthly income.................... 1,453
Expenses (including secure debts)....... 952
Available for debt repayments........... 561
Monthly UNsecured debt repayments....... 344
Surplus(deficit if negative)............ 157

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -7,890
Personal net worth...................... -7,890

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

I am currently making extra payments on my Managed Loan of £67 per month due to arrears.

vandanfc

Hi

Please can we have some extra info such as how many in the household - food bills could be high if only 2 of you, type of property - fuel bills seem high. Do you keep a spending diary to see were your extra £157 a month disappears to ?

LilacPixie

Welcom Jaystag.

First think i'm noticing isyou have no partners salary or child benefit et. Am i rightin presuming you live alone?? If you do are you getting a single person discount on your council tax??

£72 for gas a month is very high. is this arrears ?? if its possible look at a comparison engine to see if you are cheaper moving then move supplier using quidco.

£60 for telephone is also very high, look at changing this.

Groceries £250 :eek: It seems high but as I don't know how many in household but asan example i spent around £200 for familly of 4 plus 2 cats including packed lunches for work. Exen then that is not cheapest for the cheap. Pop over to the oldstyleboardand learn some quality cheap meals. even if youlive alone you could make a batch and freeze in portions.

Other than that only capital one debt has an apr against it. its this because everything else is 0% or is it just because you don't know the apr's?? Have alook at the snowball calculator on whatsthecost.com and see the best debt to attack first using your surplus income and all savings made from switching things around

Jaystag

I live with my partner and her daughter and we also have another baby on the way.

I have also editted my SOA.

vandanfc

What about benefits for the child then, you should at least have child benefit coming into the household and probably some childrens tax credits too.

Bunnyinthelights

Your partner will be getting at least the CHB for the one child.

Jaystag

I don't want to look at what comes into the household as such. I want to look at what I am responsible for in the household. My partner's earnings / benefits etc. shouldn't be taken into consideration if you know what I mean.

They are debts that I have accumulated on my own, therefore I want to get myself out of the mess.

floss2

Is your partner's daughter your child? If not, is there any maintenance paid to help support her? Or does your partner not make any contribution to your family household expenses?

Also, you have not listed a car / TV licence / internet / mobile phone / presents / haircuts......etc, etc

Please could you adjust the figures to show all of your actual household income & expenses?

Thanks,
Floss x

bank_of_slate

Hi, hope this helps!

Jaystag wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1423 Are you not getting child benefit?
Total monthly income.................... 1423

Monthly Expense Details
Rent.................................... 350
Council tax............................. 102 Do you get a single person discount?
Electricity............................. 30
Gas..................................... 72 This sounds very high!
Water rates............................. 15
Telephone (land line)................... 60
Groceries etc. ......................... 250 Again it's high! can you cut down by meal planning, sticking to a shopping list?
Other child related expenses............ 50
Contents insurance...................... 13
Presents (birthday, christmas etc)...... 10
Total monthly expenses.................. 952


No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
HSBC Managed Loan..............5400......200.......13.2
London Scottish Loan...........1690......94........50.0
Capital One C/Card.............100.......5.........19.9
Payday Loan....................200.......40........0
A&L Overdraft..................500.......5.........0
Total unsecured debts..........7890......344.......-

Monthly Budget Summary
Total monthly income.................... 1,453
Expenses (including secure debts)....... 952
Available for debt repayments........... 561
Monthly UNsecured debt repayments....... 344
Surplus(deficit if negative)............ 157

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -7,890
Personal net worth...................... -7,890

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

I am currently making extra payments on my Managed Loan of £67 per month due to arrears.

Bunnyinthelights

Jay,
I do completly uinderstand what you mean, (I am on a DMP with £45k of 'persoanl' debt) and whilst I pay soley for the accumulated debt, you are in a partnership and your partner will have to share the responsibilty you you see what I mean?
My DH has taken on board the situation and helps me.
Anything coming in will help to reduce what is being paid off and will help the situation long term.

Does your partner know?

Jaystag

Ok, my partner's daughter is not my child. We receive no money from her father and never have done, he doesn't work.

My girlfriend has a car and pays for that. She also pays the TV licence. I have included internet costs in with the phone bill. She also has her own debts which she is desperately trying to pay as much off as possible on before our new baby arrives.