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Thistimeforsure
Starting Member
4 Posts |
 Posted - 18 March 2010 : 08:45:57
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Hi
I have downloaded the SOA from makesenseofcards.com and added comments where it may not be clear. Could you please take a look and let me know if you think my figures make sense? any advice/experience on what I am claiming for and the amounts would be hugely appreciated.
Many thanks
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3 - we have one child (6) who lives with us full time, and 2 from a previous marriage (14 & 16) who live with us 3 days per week
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1971
Partners monthly income after tax....... 200 - my wife is self-employed and really doesn't bring in much at all after paying the expenses for her business (really hit by the recession) so this is just a guess of what she will actually spend per month on petrol, groceries, etc
Benefits................................ 131 - child benefit (£86) and child tax credit (£45)
Other income............................ 0
Total monthly income.................... 2302
Monthly Expense Details
Mortgage................................ 620 - we are on a variable rate and of course the BofE rate is at an all time low. I am a bit worried of how much this may increase if/when BofE decide to raise the base rate
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 165
Electricity............................. 75 - currently gas and elec are £65 each by DD but the latest bill shows we are in deficit against actual price of services used so I have added extra to anticipate increase in DD
Gas..................................... 75
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 60 - I know that OR doesnt like individual budget lines for mobile, internet, Sky, etc. My actual charges are around £65 (landline £16, broadband £10, mobile £23 and Sky £18). I have put £60 here as I think I have heard this is the max they will pay (?)
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 80
Road tax................................ 18
Car Insurance........................... 16
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 60 - I take the bus to work
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 11
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 68
Other insurance......................... 0
Presents (birthday, christmas etc)...... - not allowed I believe
Haircuts................................ 25
Entertainment........................... 0 - not allowed I believe
Holiday................................. 75
Emergency fund.......................... 0 - not allowed I believe
School dinners/trips.................... 35
Maintenance............................. 100 - I pay £50 each for my 2 daughters
Total monthly expenses.................. 2120
Assets
Cash.................................... 0
House value (Gross)..................... 175000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 176500
Secured & HP Debts Description....................Debt......Monthly.. .APR
Mortgage...................... 174995...(620)......4.24
Total secured & HP debts...... 174995
Unsecured Debts - Description....................Debt......Monthly
BOS Visa.......................1000......30
Capital 1 Visa.................4449......134
Egg Visa.......................2495......75
Smile overdraft................800.......800
Smile loan.....................997.......59
Tesco loan.....................6666......113
Northern Rock loan.............8850......109
Virgin Visa....................6274......189
Tesco Mastercard...............700.......21
Total unsecured debts..........32231.....1530
Monthly Budget Summary
Total monthly income.................... 2,302
Expenses (including HP & secured debts). 2,120
Available for debt repayments........... 182
Monthly UNsecured debt repayments....... 1,530
Amount short for making debt repayments. -1,328
Personal Balance Sheet Summary
Total assets (things you own)........... 176,500
Total HP & Secured debt................. -174,995
Total Unsecured debt.................... -32,231
Net Assets.............................. -30,726 |
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SOA - could someone please take a look?
