dont know where to turn next

Help required, here is my SOA

Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2

Monthly Income Details

Monthly income after tax................ 2799
Partners monthly income after tax....... 1900
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 4699


Monthly Expense Details

Mortgage................................ 565.2
Secured/HP loan repayments.............. 606.8
Rent.................................... 0
Management charge (leasehold property).. 24
Council tax............................. 132
Electricity............................. 104
Gas..................................... 0
Oil..................................... 0
Water rates............................. 47.63
Telephone (land line)................... 33
Mobile phone............................ 30
TV Licence.............................. 12.83
Satellite/Cable TV...................... 3.99
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 25
Petrol/diesel........................... 160
Road tax................................ 35
Car Insurance........................... 91.8
Car maintenance (including MOT)......... 40
Car parking............................. 38
Other travel............................ 0
Childcare/nursery....................... 364
Other child related expenses............ 34
Medical (prescriptions, dentist etc).... 34
Pet insurance/vet bills................. 32
Buildings insurance..................... 24
Contents insurance...................... 9.72
Life assurance ......................... 42
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 20
Entertainment........................... 11
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 3049.97



Assets

Cash.................................... 0
House value (Gross)..................... 158000
Shares and bonds........................ 0
Car(s).................................. 14650
Other assets............................ 0
Total Assets............................ 172650



Secured & HP Debts

Description....................Debt......Monthly...APR
Mortgage...................... 128000...(565.2)....2.6
Secured Debt.................. 23749....(109.9)....2.6
Hire Purchase (HP) debt ...... 21170.1..(496.9)....6.9
Total secured & HP debts...... 172919.1..-.........-


Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard freedom............11467.4...258.4.....18
Santander......................3989.7....52........15
barclaycard cashback...........10879.5...378.7.....20
Halifax........................6609.54...99.4......5
Barclaycard Plat Visa..........10106.1...232.......17
NUBA...........................3964......41.2......0
MBNA...........................13177.3...334.6.....30
«13

Comments

  • It doesnt look like this has pasted fully - could you check and try again?

    In terms of your expenditure- is satellite/cable figure correct and £450 for groceries seem high for 3 people. Entertainment seems low too...
  • DCFC79
    DCFC79 Posts: 40,598
    Name Dropper First Anniversary First Post
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    Should really have something put aside for an emergency.
  • hazelbl
    hazelbl Posts: 22 Forumite
    Hi
    Yes that's correct we used to have virgin media now we have cancelled that and just have broadband and we pay the small amount for kids channels on now tv. The groceries is high we had budgeted 300 but found we've been spending the 450 - was being honest but yes you are right it's high so an area to cut back.
  • hazelbl
    hazelbl Posts: 22 Forumite
    DCFC79 wrote: »
    Should really have something put aside for an emergency.

    I would love to but as the title of my post is I don't know where to start am at the end of my tether just trying to pay off debt - I can't see how to put more aside but happy to take advice for suggestions as the previous post 're groceries.
  • hazelbl wrote: »
    Hi
    Yes that's correct we used to have virgin media now we have cancelled that and just have broadband and we pay the small amount for kids channels on now tv. The groceries is high we had budgeted 300 but found we've been spending the 450 - was being honest but yes you are right it's high so an area to cut back.

    That explains the low tv. There are 4 of us and we aim for £70 a week - which could be a less if we needed it to be. £300 seems a good starting point. Meal Plan and only buy what you need seems to work for us.

    Have you got the summary that comes at the bottom of your SOA which says how much you have left to spend on overpayments etc? Its only then will you get all your options laid out.
  • To seek assistance on Barclaycard minimum payments, you can approach Barclaycard directly for :

    1. Minimum payment reduction through collections team (affects your credit file once on a payment plan)

    2. Interest reduction through Superserver team (doesnt affect credit file) but your account should have an offer. This team will check for an offer if your account is not closed or suspended.

    Thanks
  • hazelbl
    hazelbl Posts: 22 Forumite
    That explains the low tv. There are 4 of us and we aim for £70 a week - which could be a less if we needed it to be. £300 seems a good starting point. Meal Plan and only buy what you need seems to work for us.

    Have you got the summary that comes at the bottom of your SOA which says how much you have left to spend on overpayments etc? Its only then will you get all your options laid out.

    I did thought I'd copied it, was £252 I think - I currently overpay mbna by 200 a month due to high interest rate.
  • hazelbl
    hazelbl Posts: 22 Forumite
    sonuenjoys wrote: »
    To seek assistance on Barclaycard minimum payments, you can approach Barclaycard directly for :

    1. Minimum payment reduction through collections team (affects your credit file once on a payment plan)

    2. Interest reduction through Superserver team (doesnt affect credit file) but your account should have an offer. This team will check for an offer if your account is not closed or suspended.

    Thanks

    I really dont want to affect credit file as mortgage offer comes to an end soon amd want to change it to a better rate, also would want that to be absolute last resort (maybe im there).

    How do you do the supersaver option you mention as that sounds a possible solution without affecting credit file?
  • Its an internal team. Ring up barclaycard and they will transfer you to them :A
  • chelseablue
    chelseablue Posts: 3,289
    Name Dropper First Post First Anniversary
    Forumite
    Regarding the groceries, where do you shop? We are also a family of 2 adults, 1 child and spend around £240 a month in Aldi.

    Also the childcare, how old is your child? As when they go to school the bill reduces quite a lot.
    My son is 4 and starts Reception in 2 weeks, I cant wait!
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