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  • FIRST POST
    • hbp2008
    • By hbp2008 13th May 18, 5:29 PM
    • 12Posts
    • 2Thanks
    hbp2008
    SOA budget for 2 adults?
    • #1
    • 13th May 18, 5:29 PM
    SOA budget for 2 adults? 13th May 18 at 5:29 PM
    Hi all, me again! My brain has been running wild with all bankruptcy questions and worries.

    I know it will differ from different parts of the UK for rent etc but what is a Ďnormalí SOA budget that is acceptable for two adults and 2 cats for food, mobiles etc?

    Are we at risk of losing our pets? I know this will sound stupid to some but I honestly donít know what to expect, Iíve read every help guide there is and still feel like I have questions!

    Thank you! X
Page 1
    • debt doctor
    • By debt doctor 13th May 18, 6:53 PM
    • 4,254 Posts
    • 5,932 Thanks
    debt doctor
    • #2
    • 13th May 18, 6:53 PM
    • #2
    • 13th May 18, 6:53 PM
    Hi,

    Your pets are safe!
    £500 pm for a couple (with no children) for housekeeping is reasonable.

    Put up your SOA on here and we will make our comments and suggestions.

    http://www.stoozing.com/calculator/soa.php

    DD
    Last edited by debt doctor; 13-05-2018 at 6:59 PM.
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
    • hbp2008
    • By hbp2008 13th May 18, 7:36 PM
    • 12 Posts
    • 2 Thanks
    hbp2008
    • #3
    • 13th May 18, 7:36 PM
    • #3
    • 13th May 18, 7:36 PM
    Statement of Affairs & Personal Balance Sheet

    Summary

    Monthly Budget Summary Amount(£)
    Total monthly income 1,687
    Monthly expenses (incl. HP & secured loans) 1,717.4
    Available for debt repayments -30.4
    UNsecured debt repayments 0
    Amount short for making debt repayments -30.4
    Personal Balance Sheet Summary Amount(£)
    Total Assets (things you own) 0
    Total Secured & HP Debt -0
    Total Unsecured Debt -0
    Net Assets 0
    Income, Expense, Debt & Asset Details

    Income Amount(£)
    Monthly income after tax 1375
    Partners monthly income 0
    Benefits 312
    Other income 0
    Total monthly income 1687
    Expenses Amount(£)
    Mortgage 0
    Secured/HP loan payments 0
    Rent 595
    Management charge (leasehold property) 0
    Council tax 133
    Electricity 53
    Gas 54
    Oil 0
    Water Rates 30
    Telephone (land line) 19
    Mobile phone 65
    TV Licence 12
    Satellite/Cable TV 0
    Internet services 17.5
    Groceries etc. 320
    Clothing 20
    Petrol/diesel 150
    Road tax 12
    Car Insurance 70
    Car maintenance (including MOT) 19
    Car Parking 28
    Other travel 20
    Childcare/nursery 0
    Other child related expenses 0
    Medical (prescriptions, dentists, opticians etc.) 20.4
    Pet Insurance/Vet bills 15
    Buildings Insurance 0
    Contents Insurance 9.5
    Life Assurance 0
    Other Insurance 0
    Presents (birthday, christmas etc.) 10
    Haircuts 30
    Entertainment 0
    Holiday 0
    Emergency Fund 15
    Total monthly expenses 1717.4
    Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
    Mortgage 0 (0) 0
    Secured & HP Debt totals 0 - -
    Unsecured Debt Description Debt(£) Monthly(£) APR(%)
    Unsecured Debt totals 0 0 -
    Asset Description Value (£)
    Cash 0
    House Value (Gross) 0
    Shares and bonds 0
    Car(s) 0
    Other assets (e.g. endowments, jewellery etc) 0
    Total Assets 0
    • hbp2008
    • By hbp2008 13th May 18, 7:37 PM
    • 12 Posts
    • 2 Thanks
    hbp2008
    • #4
    • 13th May 18, 7:37 PM
    • #4
    • 13th May 18, 7:37 PM
    Thank you, I hope that helps
    • debt doctor
    • By debt doctor 13th May 18, 8:24 PM
    • 4,254 Posts
    • 5,932 Thanks
    debt doctor
    • #5
    • 13th May 18, 8:24 PM
    • #5
    • 13th May 18, 8:24 PM
    Your SOA is absolutely fine and there is no justification at all for an IPA (Money taken from your income).

    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
    • hbp2008
    • By hbp2008 14th May 18, 3:05 PM
    • 12 Posts
    • 2 Thanks
    hbp2008
    • #6
    • 14th May 18, 3:05 PM
    • #6
    • 14th May 18, 3:05 PM
    Just to check, does £65 for both mobile phones sound acceptable, and £320 for food, cleaning products, pet food etc sound okay?

    Thanks
    • luvchocolate
    • By luvchocolate 14th May 18, 6:56 PM
    • 1,544 Posts
    • 1,405 Thanks
    luvchocolate
    • #7
    • 14th May 18, 6:56 PM
    • #7
    • 14th May 18, 6:56 PM
    Thats all fine , you can trust our very own Debt Doctor.......he knows his stuff!!
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