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canspendnomore
canspendnomore Posts: 197 Forumite
First Anniversary Combo Breaker
edited 10 January 2010 at 5:35PM in Debt-free wannabe
This SOA has been reposted further down.

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,996.30
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 122.05
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Rental Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 628.33

Monthly Expense Details
In Your Home
Mobile Phones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.88
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.94
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.50
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.70
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147.60
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.99
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.00
Buildings & Contents Insurance. . . . . . . . . . . . . . . . . . . . . . . . . 27.05
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 704.45
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 100.00
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sky Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.12
Northern Rock Mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95.20
House Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.05
Freezer Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.50
Washing Machine Insurance . . . . . . . . . . . . . . . . . . . 6.49
Service Charge ................. . . . . . . . . . . . . . . . . . . . . . . . . 35.44
Building Insurance and Maintenance Charge . . . . . . . . . . . 10.20
Weekly Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.83
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.67
Driving Lessons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173.33
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 354.55
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53.33
Borrowing from family. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00
Barclaycard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230.00
MBNA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70.00
Capital One . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.08
Alliance and Leicester. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.67
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125.00
Timeshare Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.17
Interval Membership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.64
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,746.71

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,229.70
«134

Comments

  • PRINCESSX87
    PRINCESSX87 Posts: 969 Forumite
    Options
    Ok, Not sure if this information is totally correct & as you have only put numbers its made it hard answering your post.

    Its does say that if your private in renting your property or renting from the council then your entitled to around:

    £580 rent monthly
    £11.32 council tax monthly.

    But like i said above, It does depend on your property.
    Future goals:
    Become debt free.
    Beat Depression.
    Be happy & healthy
  • McKneff
    McKneff Posts: 38,834 Forumite
    Name Dropper First Anniversary First Post
    Options
    Cant you get your numbers a bit closer,to the tex, it is very difficult to read
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • gfplux
    gfplux Posts: 4,985 Forumite
    Photogenic First Anniversary First Post Hung up my suit!
    Options
    Hello canspennomore,
    Well done for making a start.
    I think you need to use the normal form. read this and have a look.
    [FONT=Arial, sans-serif]Debt normally comes by spending MORE than you EARN. That is you are living a lifestyle you can not afford. We all know that, but sometimes we can not see the wood for the trees. If you want to get out of debt you have to change that habit today.[/FONT]
    [FONT=Arial, sans-serif]Make out your SOA and post it here. (link - http://www.makesenseofcards.com/soacalc.html ) This will automatically total the numbers. It can be saved (click on the help) and you can change it every day if you want. [/FONT]
    [FONT=Arial, sans-serif]Also read this great post by southernscouser http://forums.moneysavingexpert.com/showthread.html?t=107280[/FONT]
    [FONT=Arial, sans-serif]When making out your SOA (Statement Of Affairs) try not to guess at the figures, dig out the paperwork! However remember a partial completed one as a first step is better than none. [/FONT]
    [FONT=Arial, sans-serif]It is in fact one of the most IMPORTANT things you will ever do to start on the road to recovery. [/FONT]
    [FONT=Arial, sans-serif]If you want a lot of help on this forum, posting your SOA is the first and most important step. After it is done it is very easy to keep it up to date. [/FONT]
    [FONT=Arial, sans-serif]In my opinion everyone should have an up to date SOA even if you have little or no debt. It is a great tool to manage your life with.[/FONT]
    [FONT=Arial, sans-serif]If you post it on the forum answer the obvious questions before they are asked so you get immediate feedback, such as (not all will apply to you:-[/FONT]
    [FONT=Arial, sans-serif]If there is “other” Income explain what it is[/FONT]
    [FONT=Arial, sans-serif]Mortgage – interest only or not.[/FONT]
    [FONT=Arial, sans-serif]What is the age of any children.[/FONT]
    [FONT=Arial, sans-serif]Council tax is it over 10 or 12 months.[/FONT]
    [FONT=Arial, sans-serif]Electricity and gas any arrears.[/FONT]
    [FONT=Arial, sans-serif]Water rates meter yes or no.[/FONT]
    [FONT=Arial, sans-serif]Grocery's does this include gambling, booze and cigarettes.[/FONT]
    [FONT=Arial, sans-serif]Mobiles, how many and when are the contracts up for renewal.[/FONT]
    [FONT=Arial, sans-serif]If no contents insurance is it include with buildings insurance.[/FONT]
    [FONT=Arial, sans-serif]If pets cost money, what are they.[/FONT]
    [FONT=Arial, sans-serif]House or flat value, has it been valued by an Estate Agent and when.[/FONT]
    [FONT=Arial, sans-serif]The more that can explain about the financial figures and circumstances the quicker the post will get advise rather than lots of questions.[/FONT]
    [FONT=Arial, sans-serif]When you have posted it and it does not look right or you want to change it, do so and repost it.[/FONT]


    [FONT=Arial, sans-serif]Good Luck[/FONT]
    There will be no Brexit dividend for Britain.
  • kingfisherblue
    kingfisherblue Posts: 9,203 Forumite
    Name Dropper First Anniversary First Post Xmas Saver!
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    Why is there food and household shopping @ £100, plus weekly food @ £65, which is shown on a separate line?

    Do you really spend £25 a month on birthdays and £125 a month at Christmas?

    What is Interval membership?

    In the debts section, are these the monthly amounts that you pay? What are the total amounts of each debt and what are the APR for each one?

    Your mobile phone amount is quite high, especially as you have a landline. Internet is also quite high.

    As you receive income from rent, but you also pay mortgage/rent, does this mean that you are renting out your house but renting another property from someone else? You are paying more mortage/rent than you receive each month. Also, do you have to pay any tax on that income? Have you informed your mortgage provider?

    No money at all for entertainment?
  • savingmummy
    savingmummy Posts: 2,915 Forumite
    Debt-free and Proud!
    Options
    It would help if you could use a SOA using the link provided (choose mse and it will give you a copy to post here) then we can see what is happening as this form isn`t clear at all.
    Grocery is very high - you have 2 totalling £165 for how many people?
    Clothing + use what you have, use freegle bootsales etc if needed.
    Insurances all add up and really are not nessasary imo especially when you need monthly income on debts and other needy things.
    Birthdays and xmas need to be cut right down.

    You clearly are struggling right now, i would seriously stop the driving lessons that is expensive and when you do pass how will you afford a car?

    Well done for posting and making a start we will all advise you the best we can x
    DebtFree FEB 2010!
    Slight blip in 2013 - Debtfree Aug 2014 :j

    Savings £132/£1000.
  • canspendnomore
    canspendnomore Posts: 197 Forumite
    First Anniversary Combo Breaker
    Options
    I compiled the figures via the new Budget tool thing on here. I did think it was a bit long winded, but because it came from there, I thought it'd be okay.

    I'll have another go and post it again.

    Unfortunately, our life is rather complicated (not helped by the debt of course), so I'll do my best to keep it simple.

    Thanks
  • savingmummy
    savingmummy Posts: 2,915 Forumite
    Debt-free and Proud!
    Options
    you need to choose the mse button at the end of the soa.
    No soa is too complicated when filled in correctly - you have to be 100% honest and put down everything x
    DebtFree FEB 2010!
    Slight blip in 2013 - Debtfree Aug 2014 :j

    Savings £132/£1000.
  • canspendnomore
    canspendnomore Posts: 197 Forumite
    First Anniversary Combo Breaker
    Options
    savingmummy wrote: »
    Grocery is very high - you have 2 totalling £165 for how many people? ... You clearly are struggling right now, i would seriously stop the driving lessons that is expensive and when you do pass how will you afford a car?

    The extra food is because my partner stays with his Mum during the week in London (hence £150 per month in fares too). The driving lessons are also for him, and can't be stopped, because he cant get a new job until he's passed his test. We have a car which he could use to go to work until we can afford to get him one once he's living with us all the time.
  • natlie
    natlie Posts: 1,688 Forumite
    Photogenic Name Dropper First Anniversary Combo Breaker
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    you seem to be paying insurance on things that would be covered by you buildins and contents ins like freezer and washing machine insurance - what is sky insurance? also you seem to have an extra house insurance? It may be worth you cancelling these and looking at the breakdown cover too - is your car reliable?
    DMP: £30,668 £3,364.02 DFD July 2024
  • canspendnomore
    canspendnomore Posts: 197 Forumite
    First Anniversary Combo Breaker
    Options
    I did wonder about the freezer insurance. Need to check the house insurance. The washing machine insurance is at our flat we rent out, but that might be ok to go too. The Interval payment is the membership to exchange our timeshare. We can stop paying both of those payments if we can sell our timeshare quickly.

    I probably should have explained a little about our circumstances too.

    We're renting out our right to buy flat and have just moved to leicestershire to our dream house with my Mum. We've considered selling the flat, but with interests so low we're actually getting more in than we're paying for it at the moment.
    My partner does not live with us during the week as he can't get a job here until he's able to drive. He's been learning for 2 years so is due to take a test soon, so can't stop them now.

    We we've got into such a mess because of a conservatory that was built at our last house. We're were half way through refurbishing it when we got into dispute with the builders. I was due to give birth and we could not move in, so ended up renting in addition to paying mortgage for 7 months and cost legal fees too. We were getting ourselves sorted until then and it's completely spiraled out of control since then.

    Any ideas of where we could sell the timeshare quickly?

    I've rambled a bit here. I'll try and do a proper SOA later today.
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