Age: 37
Spouse’s/Partner's age: 49
Annual gross income from employment or profession: approx 110,000
Annual gross income of spouse: 28,000
Monthly take-home pay approx 6,000 (pay depends on number of hours worked in the month zone months shorter than others so from 4000 up to about 5600 is my take home pay plus 1800 from my husband)
Child benefit: €280
Partner Pay: €1850 per month
My pay: I'm on a daily rate contract for 12 months and my take home pay can vary from €3000 up to a max of €5900. I have my own company and business account and take the max pay home every month. I know people that take the min amount and then take the profits once a year so they only have to pay 12% corporation tax but we are just not in a position to do that.
Type of employment: e.g. Civil Servant, self-employed
I'm self employed and husband permanent, full time.
In general are you:
(a) spending more than you earn, or
(b) saving?
A) spending more
Rough estimate of value of home €450k
Amount outstanding on your mortgage: €198k, 30 year term, variable rate, 2.9%
Other borrowings – car loans/personal loans etc
PTSB personal loan €15k, 2 years left, 7.6%
Credit Union €8k
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2083, limit is €2000, interest rate is 19%
Savings and investments: €1800 in credit union which is tied to the loan
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 7 and 4.
Childcare costs: €1240 per month
loan repayments: €850 per month
Mortgage: €880 per month
Family member loan €1150
Groceries: €600 per month
Gym €25 for me, swimming pool.
Kids activities €150 per month
Mobile phone bill: €70 pm
Sky: €110 pm
Virgin broadband: €70 pm
Cleaner: €80 pm
City bin: €15
Netflix: €15
Amazon Prime: €9.99
Life insurance: €110
Health Insurance: €80
Car insurance: €60 for my car (2012 estate), €70 husband 2006 fiesta
Alcohol/cigarettes: €0 for me as I dont do either and possibly €20 per month for my husband for a few cans.
I've recently started to use a budgeting app which pulls all transactions directly from your current account. Based on the analysis I've seen so far we waste money on crap like lunches, take outs, eating out, stupid stuff. In the region of €800 in Nov.
The above are fixed monthly expenses. What I'm doing at the moment is looking at changing gas and electricity providers. Have been with the same one for 2 years, new provider can save us 470 per year and it's fixed rate. We will also change internet providers which save us €50 per month. Getting rid of Sky which will save us €110 per month. The savings we make here we will use to pay off the credit card.
There is family loan of €1150 which doesn't need to be paid back immediately.
I've been quite bad with money over the years and I would really like for us to be in a better position and not struggle every month. Husband has been studying the last few years and he only started working the last 3 months. I was self employed for 5 years and then went perm for 2 years in 2017 and then moved back to self employed since October. The childcare cost is also relatively new.
I'm here to find out the best way to budget and manage our money and how to clear the debts as soon as possible while also taking into account the variance in my monthly take home pay.
And yes we have been very silly people over the years and wish I had found this forum sooner!
Thanks a mil.
Spouse’s/Partner's age: 49
Annual gross income from employment or profession: approx 110,000
Annual gross income of spouse: 28,000
Monthly take-home pay approx 6,000 (pay depends on number of hours worked in the month zone months shorter than others so from 4000 up to about 5600 is my take home pay plus 1800 from my husband)
Child benefit: €280
Partner Pay: €1850 per month
My pay: I'm on a daily rate contract for 12 months and my take home pay can vary from €3000 up to a max of €5900. I have my own company and business account and take the max pay home every month. I know people that take the min amount and then take the profits once a year so they only have to pay 12% corporation tax but we are just not in a position to do that.
Type of employment: e.g. Civil Servant, self-employed
I'm self employed and husband permanent, full time.
In general are you:
(a) spending more than you earn, or
(b) saving?
A) spending more
Rough estimate of value of home €450k
Amount outstanding on your mortgage: €198k, 30 year term, variable rate, 2.9%
Other borrowings – car loans/personal loans etc
PTSB personal loan €15k, 2 years left, 7.6%
Credit Union €8k
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2083, limit is €2000, interest rate is 19%
Savings and investments: €1800 in credit union which is tied to the loan
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 7 and 4.
Childcare costs: €1240 per month
loan repayments: €850 per month
Mortgage: €880 per month
Family member loan €1150
Groceries: €600 per month
Gym €25 for me, swimming pool.
Kids activities €150 per month
Mobile phone bill: €70 pm
Sky: €110 pm
Virgin broadband: €70 pm
Cleaner: €80 pm
City bin: €15
Netflix: €15
Amazon Prime: €9.99
Life insurance: €110
Health Insurance: €80
Car insurance: €60 for my car (2012 estate), €70 husband 2006 fiesta
Alcohol/cigarettes: €0 for me as I dont do either and possibly €20 per month for my husband for a few cans.
I've recently started to use a budgeting app which pulls all transactions directly from your current account. Based on the analysis I've seen so far we waste money on crap like lunches, take outs, eating out, stupid stuff. In the region of €800 in Nov.
The above are fixed monthly expenses. What I'm doing at the moment is looking at changing gas and electricity providers. Have been with the same one for 2 years, new provider can save us 470 per year and it's fixed rate. We will also change internet providers which save us €50 per month. Getting rid of Sky which will save us €110 per month. The savings we make here we will use to pay off the credit card.
There is family loan of €1150 which doesn't need to be paid back immediately.
I've been quite bad with money over the years and I would really like for us to be in a better position and not struggle every month. Husband has been studying the last few years and he only started working the last 3 months. I was self employed for 5 years and then went perm for 2 years in 2017 and then moved back to self employed since October. The childcare cost is also relatively new.
I'm here to find out the best way to budget and manage our money and how to clear the debts as soon as possible while also taking into account the variance in my monthly take home pay.
And yes we have been very silly people over the years and wish I had found this forum sooner!
Thanks a mil.
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