My Soa..... any ideas

x2008x

.......................

LilacPixie

Do not consolodate!!!

BRB with ideas.

LilacPixie

x2008x wrote: »

Hi, this is my 1st time posting here so a little shy. any ideas let me know

Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 800
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1600

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 380
Management charge (leasehold flat)...... 0
Council tax............................. 97
Electricity............................. 32- seems high - Canyou look at switching??
Gas..................................... 28 - ditto - use quidco for cahsback
Oil..................................... 0
Water rates............................. 19
Bank Acc...................17 - what is this??
Telephone (land line)................... 11
Mobile phone............................ 70 - high, reduce contract then PAYG
TV Licence.............................. 11.56
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 60
Clothing................................ 60- high, do you really spend this??? is it needed
Petrol/diesel........................... 0 No petrol??
Road tax................................ 0
Car Insurance........................... 65 - high once again switch using quidco
Car maintenance (including MOT)......... 0 no car running costs??
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 890.56

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
loan...........................8000......155.......0
loan...........................5000......141.......0
loan...........................2500......74........0 catalogues.....................1000......80........0
credit cards...................2881......85........0
Total unsecured debts..........19381.....535.......- put all these debts into the snowball calc for your debt paying priorities.

Monthly Budget Summary
Total monthly income.................... 1,600
Expenses (including secured debts)....... 863.56
Available for debt repayments........... 736.44
Monthly UNsecured debt repayments....... 535
Surplus(deficit if negative)............ 184.44

I was trying to take out a large loan to clear everything but having difficulties with this and dont know if best thing to do. Any ideas let me know

I've put a few suggestions in red above.

poppyg_2

Groceries sounds very cheap, is this right and does it include everything? If so well done, I could do with some tips off you for my shopping!

It says you should be left with quite a big surplus but are you really or does this money usually get eaten away on other stuff? If so, any idea what? entertainment, haircuts, medical, presents, car tax etc all £0 - surely this can't be right??????

jak

You needs to work out an amount for Christmas/birthdays and divide by 12 . Also haircuts. Do you meal plan for groceries? Have a go. £60 isn't much or do you get meals at work?
J
X

Sue-UU

Hi and good for you in putting your SOA on. A couple of points though.

If you spend

Petrol/diesel........................... 60
Car Insurance........................... 65

on car/s how come you've put 0 for tax and MOT?

Road tax................................ 0
Car maintenance (including MOT)......... 0

You also need to allow something at least for clothes per month, just a rough estimate will do, haircuts too.

Sue

tealady

Hi x2008x (or can I call you x?). Theres no need to be shy, on here are some of the most friendly people on the planet.
Just a couple of thoughts
1) Do daily clicks eg Pigsback (one of my favourites)
2) Haircuts - try a local college for a cheap/free cut
3) Turn off anything that is on standby.