L
lemsip
Guest
Age: 23
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: 25K
Type of employment: e.g. Civil Servant, self-employed
Private sector, permanent
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home N/A live with parents rent 400 pm
Other borrowings – car loans/personal loans etc
personal loan 2435 outstanding, paying 160pm
credit union loan 300, paying 100pm
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card?
1188 paying 10% of balance pm. dont use card anymore.
Savings and investments:3425
AIB 7day notice acc. balance 2800
online savings plan- saving 50pm balance 525
Parent saver account-saving 100pm balance 100
Do you have a pension scheme? no
Do you own any investment or other property? No
Ages of children: 1.5
Life insurance: No
What specific question do you have or what issues are of concern to you?
I'm hoping to go back to college in October, I finished a degree two years ago but don't want to work in this area. I've found a course I really want to do and need to find a way to afford it. Its a four yr course and I will have to pay fees of ~7K per year.
First of all I am looking for advice on the quickest way to clear my credit card and loan. I was thinking of increasing the repayments on each to 200pm and then saving a further 400pm into my savings account. By September I should have the cc cleared and loan down to ~1000. Savings would then be ~5825. I could get a top up of 1000 on my loan and pay my fees.
Or I could use my savings to clear loan and cc now? That would leave me with ~800pm to save, so 4800 after 6 months. Id have to borrow 2000 then to pay my fees.
I'm really don't know what to do and sorry if this is confusing. Basically I don't even know if I can afford to go back this year or whether to save and wait until next year. But I really want to get it over with while my child is young, then starting work and providing a stable home of our own. I'll qualify for lone parents while in college so will be getting ~1000 pm and can do grinds etc. to keep me going while in college. I'll also work during the summers to try save the next yrs fees but will probably have to take another loan at that point.
I'd really appreciate some views on this, if people think I'm mad for giving up a permanent job now or if anyone has any advice!
Thanks.
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: 25K
Type of employment: e.g. Civil Servant, self-employed
Private sector, permanent
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home N/A live with parents rent 400 pm
Other borrowings – car loans/personal loans etc
personal loan 2435 outstanding, paying 160pm
credit union loan 300, paying 100pm
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card?
1188 paying 10% of balance pm. dont use card anymore.
Savings and investments:3425
AIB 7day notice acc. balance 2800
online savings plan- saving 50pm balance 525
Parent saver account-saving 100pm balance 100
Do you have a pension scheme? no
Do you own any investment or other property? No
Ages of children: 1.5
Life insurance: No
What specific question do you have or what issues are of concern to you?
I'm hoping to go back to college in October, I finished a degree two years ago but don't want to work in this area. I've found a course I really want to do and need to find a way to afford it. Its a four yr course and I will have to pay fees of ~7K per year.
First of all I am looking for advice on the quickest way to clear my credit card and loan. I was thinking of increasing the repayments on each to 200pm and then saving a further 400pm into my savings account. By September I should have the cc cleared and loan down to ~1000. Savings would then be ~5825. I could get a top up of 1000 on my loan and pay my fees.
Or I could use my savings to clear loan and cc now? That would leave me with ~800pm to save, so 4800 after 6 months. Id have to borrow 2000 then to pay my fees.
I'm really don't know what to do and sorry if this is confusing. Basically I don't even know if I can afford to go back this year or whether to save and wait until next year. But I really want to get it over with while my child is young, then starting work and providing a stable home of our own. I'll qualify for lone parents while in college so will be getting ~1000 pm and can do grinds etc. to keep me going while in college. I'll also work during the summers to try save the next yrs fees but will probably have to take another loan at that point.
I'd really appreciate some views on this, if people think I'm mad for giving up a permanent job now or if anyone has any advice!
Thanks.