Make Sense of Cards - Is BR right for me? My SOA.

08. Sep 2010 at 10:58

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Is BR right for me? My SOA. (Read 1125 times)

kkjamor

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Is BR right for me? My SOA.
29. Jan 2010 at 10:36

Please could you have a look at my SOA and advise if you think BR is right for me. I have more outgoings than incomings.

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.................... 1 Monthly Income Details Monthly income after tax................ 950 Partners monthly income after tax....... 450 Benefits................................ 450 Other income............................ 0 Total monthly income.................... 1850 Monthly Expense Details Mortgage................................ 0 Secured/HP loan repayments.............. 0 Rent.................................... 500 Management charge (leasehold property).. 0 Council tax............................. 136 Electricity............................. 50 Gas..................................... 50 Oil..................................... 0 Water rates............................. 30 Telephone (land line)................... 0 Mobile phone............................ 60 TV Licence.............................. 13 Satellite/Cable TV...................... 0 Internet Services....................... 10 Groceries etc. ......................... 400 Clothing................................ 10 Petrol/diesel........................... 80 Road tax................................ 15 Car Insurance........................... 67 Car maintenance (including MOT)......... 30 Car parking............................. 0 Other travel............................ 0 Childcare/nursery....................... 520 Other child related expenses............ 0 Medical (prescriptions, dentist etc).... 20 Pet insurance/vet bills................. 10 Buildings insurance..................... 0 Contents insurance...................... 6 Life assurance ......................... 0 Other insurance......................... 77 Presents (birthday, christmas etc)...... 0 Haircuts................................ 20 Entertainment........................... 0 Holiday................................. 60 Emergency fund.......................... 0 Total monthly expenses.................. 2164 Assets Cash.................................... 0 House value (Gross)..................... 0 Shares and bonds........................ 0 Car(s).................................. 500 Other assets............................ 0 Total Assets............................ 500 No Secured nor Hire Purchase Debts Unsecured Debts Description....................Debt......Monthly...APR Loan...........................18500.....25........14.9 Loan...........................3000......113.......0 Credit Card....................2000......0.........0 Total unsecured debts..........23500.....138.......- Monthly Budget Summary Total monthly income.................... 1,850 Expenses (including HP & secured debts). 2,164 Available for debt repayments........... -314 Monthly UNsecured debt repayments....... 138 Amount short for making debt repayments. -452 Personal Balance Sheet Summary Total assets (things you own)........... 500 Total HP & Secured debt................. -0 Total Unsecured debt.................... -23,500 Net Assets.............................. -23,000

Thank you.

Katie-Jayne

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Stooz Administrator Offline Credit card Kid Posts: 87 MSOC tower	Re: Is BR right for me? My SOA. Reply #1 - 20. Feb 2010 at 10:44 Your wife earns less than you pay to child care - wouldnt it be better to become a full time mum and quit work? also your car is costing you a lot of money - that insurance is huge!
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