New found determination and SOA

Tinka21

I have posted an SOA before quite a long time ago and since then my circumstances have changed
to be honest i'm getting no where fast!!
I've used the SOA calculator thingy this time and you will notice i haven't included food, car maintance or birthdays etc
this is mainly because we have no set budget for these we just buy whatever we can afford at the time.

My OH is a taxi driver so his earnings vary each week. We do manage to pay most our bills at the minute
although they are sometimes paid a week or two late.

I'm due our second child in 7 weeks so i am currently on SMP.

We are on our lowest insurances and utilities at the moment. Car insurance is alot
because it is Taxi insurance.

We ebay everything we can and also carboot everything else. We are doing a carboot tomorrow
before OH goes to work.

I am signed up to all the cashback websites and survey sites.

Mobile phone is £0 as OH is on pay as you go and only tops up if we can afford it.
I am on contract but don't have to pay anything for 10 months

We do have sky digital, broadband and phone package, don't really want to cancel
any of it as we never go out so is our only luxury! Infact its nearly a year since we had
a night out!!

I'm hoping this will keep me motivated to keep track of what is going where!

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 450
Partners monthly income after tax....... 1200
Benefits................................ 175
Other income............................ 0
Total monthly income.................... 1825

Monthly Expense Details
Mortgage................................ 377
Secured loan repayments................. 170
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 90
Electricity............................. 37
Gas..................................... 0
Oil..................................... 0
Water rates............................. 37
Telephone (land line)................... 10
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 40
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 177
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 10
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 14
Contents insurance...................... 0
Life assurance ......................... 7
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 991

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

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 68000....(377)......5.59
Secured Debt.................. 10000....(170)......16.9
Total secured debts........... 78000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Gmac Car Finance...............9000......200.......0
Gmac Car Finance...............7000......206.......0
Safestyle UK...................4300......97........0
Barclay Loan...................1000......20........15.9
Jeremy Sutcliffe...............300.......33........0
Scotcall Debt C................160.......10........0
A&L CC.........................1080......30........0
Yorkshire Bank CC..............480.......13........0
Egg Loan.......................1200......100.......7.9
Egg Money......................2000......39........16.9
Barclaycard....................2800......62........0
Catalogue......................1400......150.......0
Total unsecured debts..........30720.....960.......-

Monthly Budget Summary
Total monthly income.................... 1,825
Expenses (including secured debts)....... 991
Available for debt repayments........... 834
Monthly UNsecured debt repayments....... 960
Surplus(deficit if negative)............ -126

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -78,000
Total Unsecured debt.................... -30,720
Personal net worth...................... -108,720

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

Tinka21

OH has just phoned and he has made £40 tonight, he is coming home soon because of getting up to do the carboot. He said it is quiet as the taxi firm has decided to start 15 new drivers tonight!!
Oh well there ain't alot we can do about that!! just hope tomorrow is a good day for selling all our unwanted junk!!

Sue-UU

Hi Tinka,

So sorry, but I'm shattered and must get to bed, but will be back tomorrow. Just a quick glance at your Sky costs make me thing they are Sky high! If you really want to get things up together as soon as possible why not let Sky go. For now though I've at least bumped this back to the top so others will help you in the morning.

Sue

boredofbeingathome

Hi, congratulations on the baby. Just had a quick look and can see you haven't put anything down for food.
Also when new arrival is here, it may be worth contacting tax credits with revised income, i would also ring them up anyway with your earnings.
best of luck bob xx

Keeping_Positive

Even if you dont post it on here I think it would help to do a full SOA including food to see if there is anything spare or if its a negative. The grocery challenge on the Old Style thread is really friendly and helpful.

I wouldnt get rid of sky I have cut back a bit but we need some form of entertainment!

BOB is right check out benefits and have you heard of the sure start grant? You can get £500 for a new baby if you get tax credits over the basic £45 ish a month. Even if you dont get that now you can claim up to when baby is 3 months old so bear it in mind if tax credits increase. Easy form and worth it.

Tinka21

Hiya thanks for your replys.

I didn't put anything down for food as we tend to just buy what we can afford at the time and we always shop at aldi or lidl and i cook in bulk if its pasta etc and freeze it.

The sky may seem high but it does include tv, phone calls and broadband. OH also has sky sports as it is cheaper than him going to the pub and watching the matches! It is the only luxury we have though so i am happy to keep it. Also the price i put for it is the maximum it has ever cost per month, it is usually a bit cheaper.

We did get the sure start grant about 2 weeks ago so we bought all the rest of the baby stuff we needed and it helped us catch up on some bills we were behind on.

I have just sent off our renewal form for the tax credits so am waiting to hear about that at the moment.

OH is having another bad night on taxis so far after 3 hours he has just made his petrol money.

On a good note though we made about £80 on the carboot today:T. Going to pay it into the bank tomorrow to cover direct debits going out.

Bunnie1982

Your car insurance seems quite high - is this because of your OH's job on taxis? Does the employer not cover this cost?

Sorry not 100% sure how taxi companies work in this respect and just wanted to clarify.

I presume as well you have no gas supply?
Sorry for the daft questions just wanted to be sure

What worries me the most is that you have put you just buy what you can afford in relation to food, you should be looking after yourself. Pop along over onto the Old Style board for loads of tips and ideas on meals and budgeting.

Can I ask what the Scotcall is in relation to?

Are you paying minimum payment on all the unsecured borrowing?

Tinka21

Bunnie - The car insurance is high because it is Taxi Insurance, my OH is an Owner Driver so instead of paying £160 a week to the taxi firm for use of a car and insurance he just pays £70 to receive jobs from them. If that makes any sense! He is paying it over 10 months so hopefully it will go down in October on the renewal.

We haven't got a gas supply we have got a coal boiler but we only run it during the winter months.

Don't get me wrong about the food we always eat well enough its just that one week i might spend £10 and another week i might spend £40 it all depends on how well OH has done at work! Which at the moment is completely pants!

Scotcall is an old debt to bell insurance that my OH has.

We are paying just the minimum on debts at the moment although we are in arrears with OH's alliance and leicester credit card which they have today passed onto a debt collection agency.

I feel so down today, it feels like there will be no light at the end of this tunnel at the moment!