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  • FIRST POST
    • Bracelovers
    • By Bracelovers 16th Apr 18, 10:00 PM
    • 16Posts
    • 51Thanks
    Bracelovers
    Soa 2 people advice needed
    • #1
    • 16th Apr 18, 10:00 PM
    Soa 2 people advice needed 16th Apr 18 at 10:00 PM
    Hi everyone.

    So I lost my job and was out of work for 9 weeks. No income received. I was self employed, we have savings and have survived off that. My partner has supported us through. I'm now back at work but earning a third from before.

    Our debts are 0% till later this year and we currently have about 1200 in the current account. I have books to enter and have prepaid part of my tax but should also pay HMRC at the end of July. I'm hoping the accountant can work some magic and my previous payment will cover this.

    The 'secured' loan is actually a loan my sister took our for us to pay our deposit, for the house purchase. It's a large payment but it is still cheaper than renting was.

    Monthly Income (after tax)
    500
    Partner's Monthly Income
    1230
    Benefits
    0
    Other Income (e.g. maintenance payments)
    0
    Enter your monthly expenditure
    Amount ()
    Mortgage payment (from secured debt table below)
    498
    Secured/HP loans (from secured debt table below)
    265 - 80 payments left
    Rent
    0
    Management Charge (e.g. on leasehold property)
    0
    Council Tax
    115
    Electricity
    30
    Gas
    30
    Oil
    0
    Water Rates
    21
    Telephone (land line)
    20
    Mobile Phone
    29
    TV Licence
    15
    Satellite/Cable TV
    11
    Internet Services
    10
    Groceries etc.
    200
    Clothing
    0
    Petrol/Diesel
    120
    Road Tax (car)
    45
    Car Insurance (including breakdown cover)
    100
    Car Maintenance (including MOT)
    20
    Car Parking
    0
    Other Travel
    0
    Childcare/Nursery
    0
    Other child related expenses
    0
    Medical (prescriptions, dentists, opticians etc.)
    15
    Pet Insurance/Vet bills
    15
    Building Insurance
    7
    Contents Insurance
    12
    Life Assurance
    30
    Other Insurance
    0
    Presents (birthday, christmas etc.)
    10
    Haircuts
    0
    Entertainment
    55
    Holiday
    0
    Household Emergency Fund (e.g. for repairs)
    0

    Dog food

    40
    Enter SECURED debts and Hire Purchase (HP) debts
    Enter ALL your mortgage, secured and HP debt details here.

    Debt description Debt () Monthly payment () Annual Rate (%)
    Mortgage
    145000 - payment - 498 Apr till March 19 1.79

    Secured debt
    20000 - payment - 265 - Apr 3.1 - 80 payments left

    Hire Purchase (HP)
    0

    0

    0
    Enter your UNsecured Debts e.g. credit cards
    Debt description Debt () Min Pay () Annual Rate (%)

    Bcard1

    950 - 20 payment

    Bcard2

    200 -payment 5

    Hmrc

    600 payment 100 - 6 payments left - tax rebate given inor error by hmrc

    Enter the value of your assets
    Asset Value ()
    Cash
    1200
    House value (gross)
    170000
    Shares & bonds
    0
    Car(s)
    500
    Other assets (e.g. endowments, jewellery)
    0
    Additional Information
    Optional information, but very useful for anyone reviewing your SOA.

    Number of adults in household
    2
    Number of children in household
    Number of cars owned 2
    Last edited by Bracelovers; 16-04-2018 at 10:35 PM. Reason: Errors
Page 1
    • Bracelovers
    • By Bracelovers 16th Apr 18, 10:02 PM
    • 16 Posts
    • 51 Thanks
    Bracelovers
    • #2
    • 16th Apr 18, 10:02 PM
    • #2
    • 16th Apr 18, 10:02 PM
    Our entertainment is music lessons for each of us piano for me and guitar for himself it's now a fortnightly lesson for both of us.
    • Bracelovers
    • By Bracelovers 16th Apr 18, 11:09 PM
    • 16 Posts
    • 51 Thanks
    Bracelovers
    • #3
    • 16th Apr 18, 11:09 PM
    • #3
    • 16th Apr 18, 11:09 PM
    Total monthly income:

    1,730

    Expenses (incl. HP & secured debts):

    1,713

    Available for debt repayments:

    17

    Unsecured debt repayments:

    125

    Surplus (shortfall if negative)

    -108

    Personal Balance Sheet Summary
    Assets:

    170,500

    Secured & HP Debt

    -165,000

    Unsecured Debt

    -1,750

    Net Assets

    3,750
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