I am struggling

245

Comments

  • -taff
    -taff Posts: 14,480 Forumite
    First Anniversary Name Dropper Photogenic First Post
    you can edit your post, look at the bottom, you should see an edit button...
    Shampoo? No thanks, I'll have real poo...
  • MovingForwards
    MovingForwards Posts: 16,910 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Missing car tax, insurance, repair costs and MOT costs unless both are off the road.

    Council tax is that 10 or 12 months you are paying it over?

    What benefits do you get? Only asking as you may get council tax benefit.

    Medical expenses, if you are on regular meds ask your GP to do a prescription for 3 months supply as you are finding it expensive paying for each one. Also look at a prepaid certificate as it could save you money.
    Mortgage started 2020, aiming to clear it in 2026.
  • Getoutofdebt
    Getoutofdebt Posts: 14 Forumite
    i am on a prepaid card at £10.4 a month for 10 months.

    If I edit the post, will it re - add it up or just leave the old amounts there?
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Getoutofdebt wrote: »
    If I edit the post, will it re - add it up or just leave the old amounts there?
    It won't re-add it :(
    You have to edit it all manually. Or do the SOA again and repost it :) You can actually save your SOA so that it is reloadable and easy to edit. The save button is near the bottom of the form.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • marliepanda
    marliepanda Posts: 7,186 Forumite
    Youve put in your medical as £104 a month, when it is £10.40 a month. Theres £90 straight away.

    If you are struggling to edit Id suggest doing a new one with correct monthly installments, if you pay something annually, just split it into 12.
  • Getoutofdebt
    Getoutofdebt Posts: 14 Forumite
    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household.........
    Number of cars owned.................... 2

    Monthly Income Details
    Monthly income after tax................ 0
    Partners monthly income after tax....... 1500
    Benefits................................ 556
    Other income............................ 0
    Total monthly income.................... 2056

    Monthly Expense Details
    Mortgage................................ 220
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 186
    Electricity............................. 30
    Gas..................................... 30
    Oil..................................... 0
    Water rates............................. 40
    Telephone (land line)................... 0
    Mobile phone............................ 8.6
    TV Licence.............................. 12.17
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 200
    Clothing................................ 0
    Petrol/diesel........................... 200
    Road tax................................ 24.58
    Car Insurance........................... 58.33
    Car maintenance (including MOT)......... 33
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10.6
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 9.83
    Contents insurance...................... 0
    Life assurance ......................... 20
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 8
    Entertainment........................... 0
    Holiday................................. 156
    Emergency fund.......................... 0
    Total monthly expenses.................. 1247.11


    Assets
    Cash.................................... 2000
    House value (Gross)..................... 300000
    Shares and bonds........................ 0
    Car(s).................................. 18000
    Other assets............................ 0
    Total Assets............................ 320000


    Secured & HP Debts
    Description....................Debt......Monthly...APR
    Mortgage...................... 19000....(220)......4
    Total secured & HP debts...... 19000.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly...APR
    loan...........................17000.....194.7.....0
    cc1............................10000.....200.......20
    cc2............................10000.....200.......20
    cc4............................1000......25........0.5
    cc3............................8000......100.......7.9
    Total unsecured debts..........46000.....719.7.....-


    Monthly Budget Summary
    Total monthly income.................... 2,056
    Expenses (including HP & secured debts). 1,247.11
    Available for debt repayments........... 808.89
    Monthly UNsecured debt repayments....... 719.7
    Amount left after debt repayments....... 89.19

    Personal Balance Sheet Summary
    Total assets (things you own)........... 320,000
    Total HP & Secured debt................. -19,000
    Total Unsecured debt.................... -46,000
    Net Assets.............................. 255,000
  • Getoutofdebt
    Getoutofdebt Posts: 14 Forumite
    edited 14 August 2018 at 5:36PM
    Hopefully I have got everything entered correctly now. I got some paperwork out to check what was being paid every month rather than guessing

    Forgot to say, the building and contents insurance are all on the same policy
  • tallyhoh
    tallyhoh Posts: 2,305 Forumite
    First Post First Anniversary
    Sorry to ask this but are 2 cars really necessary?
    Tallyhoh! Stopped Smoking October 2000. Saved £29382.50 so far!
  • Getoutofdebt
    Getoutofdebt Posts: 14 Forumite
    tallyhoh wrote: »
    Sorry to ask this but are 2 cars really necessary?

    Hubby uses his to go to work and mine is the only way I can get around due to my disability
  • nicmalauren
    nicmalauren Posts: 94 Forumite
    Combo Breaker First Anniversary
    Your SoA looks pretty good from here, although I'd query why you have nothing allocated for Christmas or birthday presents? Also, you state that your loan is at 0% - is that definitely correct?

    Is your council tax paid over ten months? If so, ask council to split it over 12 and that will help free up a bit more. You could possibly shave your grocery bill down a little - the old-style moneysaving board is a good place to look for inspiration. If you haven't already, try the MSE energy club to make sure you are on the cheapest gas/electricity deal.
    If you are really worried about money, the first thing I would cut is the holiday fund, as holidays should be considered a luxury in my opinion.

    In terms of tackling your debt, look at the snowball method. If you can get the small CC paid off, then you'll have one less payment going out that you can add towards paying off the next one until it's paid off etc.

    Good luck - there's lots of lovely people on here who are willing to offer advice and support!
    "The future belongs to those who believe in the beauty of their dreams."
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