Age: 34
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 36,000
Annual gross income of spouse: 15,000
Child Benefit = c.300 per month
Type of employment: e.g. Civil Servant, self-employed
Me: private sector
Prt: self employed
In general are you:
(a) spending more than you earn, or = not really
(b) saving? = no
Rough estimate of value of home = 350,000
Amount outstanding on your mortgage: 70,000
What interest rate are you paying?
Ulster Bank Fixed rate for approx. next 3years @approx 5.5%
@ €810 per month
Other borrowings – car loans/personal loans etc
Car loan 5,500 oustanding (18 months@ 300)
C/Union Home Loan 9,000 (repay 55.00 per week incl. interest)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 4,000
Savings and investments:
8,000 c/union (can't be touch as loan above savings)
1,300 Royal Liver saving plan (planning to cash in if needed)
Had SSIA but spent on house renovations which were badly needed
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 3.5 & 9
3.5 in creche @205 per week (cost causing the difficulty we are in)
Life insurance: Yes lots -
32 p/month serious illness
100p/month (covers mortage and also provides a amount equal to monthly salary if either dies after mortage is paid)
What specific question do you have or what issues are of concern to you?
need to release pressure. DH is self employed tradesman and for past 2 months had literally no work - hence finanical strain - can't tell when money will be in - work will come in. He is not entitled to SW as I work - I earn 2480 just over FIS threshold.
Half thinking of closing up his business and having no creche/childcare fees but dont' think entitled to SW assistance then as I earn 36k.
Have some outstanding bills to pay
2,000 bin charges (have agreed with Council to pay 100 p/month)
3,000 in arrears with creche
We don't have lavish cars - both have 01 so can't save there
Creche has to be paid to have DH free for work.
His company account has c.5,000 but needed to cover tax, insurance, accountant etc.
My thinking: take out personal loan of 15k @ 310 per month over 5 years to clear Visa, Car loan & creche arrears + cash in royal liver to reduce bin charges.
We don't go out socialising, buy expensive clothes (all dressed from Pennys!) - do smoke which i know is saving No.1 but apart from that just not enough to cover all the bills and have much left over.
Any advice welcome....
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 36,000
Annual gross income of spouse: 15,000
Child Benefit = c.300 per month
Type of employment: e.g. Civil Servant, self-employed
Me: private sector
Prt: self employed
In general are you:
(a) spending more than you earn, or = not really
(b) saving? = no
Rough estimate of value of home = 350,000
Amount outstanding on your mortgage: 70,000
What interest rate are you paying?
Ulster Bank Fixed rate for approx. next 3years @approx 5.5%
@ €810 per month
Other borrowings – car loans/personal loans etc
Car loan 5,500 oustanding (18 months@ 300)
C/Union Home Loan 9,000 (repay 55.00 per week incl. interest)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 4,000
Savings and investments:
8,000 c/union (can't be touch as loan above savings)
1,300 Royal Liver saving plan (planning to cash in if needed)
Had SSIA but spent on house renovations which were badly needed
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 3.5 & 9
3.5 in creche @205 per week (cost causing the difficulty we are in)
Life insurance: Yes lots -
32 p/month serious illness
100p/month (covers mortage and also provides a amount equal to monthly salary if either dies after mortage is paid)
What specific question do you have or what issues are of concern to you?
need to release pressure. DH is self employed tradesman and for past 2 months had literally no work - hence finanical strain - can't tell when money will be in - work will come in. He is not entitled to SW as I work - I earn 2480 just over FIS threshold.
Half thinking of closing up his business and having no creche/childcare fees but dont' think entitled to SW assistance then as I earn 36k.
Have some outstanding bills to pay
2,000 bin charges (have agreed with Council to pay 100 p/month)
3,000 in arrears with creche
We don't have lavish cars - both have 01 so can't save there
Creche has to be paid to have DH free for work.
His company account has c.5,000 but needed to cover tax, insurance, accountant etc.
My thinking: take out personal loan of 15k @ 310 per month over 5 years to clear Visa, Car loan & creche arrears + cash in royal liver to reduce bin charges.
We don't go out socialising, buy expensive clothes (all dressed from Pennys!) - do smoke which i know is saving No.1 but apart from that just not enough to cover all the bills and have much left over.
Any advice welcome....