Rockyroad18
Registered User
- Messages
- 39
Age: 45
Spouse’s/Partner's age: 46
Annual gross income from employment or profession: 82,000 + €5k bonus
Annual gross income of spouse:€42,500 + €10-15k overtime
Monthly take-home pay €3927 after pension payment & bus ticket/ Spouse €590 per week (after pension) €560 child benefit
Type of employment: e.g. Civil Servant, self-employed Private Sector and Civil Service
In general are you:
(a) spending more than you earn, or
(b) saving? depends on the month but just about keeping up.
Rough estimate of value of home €450,000
Amount outstanding on your mortgage: €130,000 - 14 years left
What interest rate are you paying? 4.5% with ESB
Other borrowings – car loans/personal loans etc €12k loan w Credit Union - payment 300 per month - 4 years left to pay, spouse not sure of loan but €200 a month repayment and 3 year left to pay
Do you pay off your full credit card balance each month? almost - can't seem to clear it though
If not, what is the balance on your credit card? €500
Savings and investments: About 12K saved between us!
Do you have a pension scheme? 3 pensions - one with €11K, one with €50k, current one €9K/ Spouse no idea how much in it but DB and he can draw it down when he is 50.
Do you own any investment or other property? No
Ages of children: 12/9/6/4
Life insurance: Both have cover with work. Nothing outside that.
What specific question do you have or what issues are of concern to you?
For the first time since we met myself and husband have agreed to have a joint account and have one place where all expenses come from. To date we have had separate accounts and he has paid mortgage, esb, and a couple of other bills - I paid for food, childcare, everything with the kids, some other bills - in short there is continuous bad feelings about who is paying what and we hope that this will sort that out. So I sat down and put everything (I think) down in a spreadsheet that would need to go out of the account and what we would put into the account - when you write it down its quite shocking to see how much you spend! With the majority of our wages going into this joint account we still are not meeting our outgoings and probably explains why we are struggling. We live in the country and need 2 cars and with 4 kids one has to be a 7 seater.
High level of expenses PER MONTH looks like this -
€1519 (Mortgage/Electricity/Oil/Sky/Internet/Alarm/Bins/TV Licence/Prop Tax)
€995 ( 2 car loans, car tax, insurance, Diesel)
€1400 (Kids - child minder, kids classes like piano/drama/rugby/3 days out a month/birthdays/clothes/shoes/school books/uniform/fees)
€402 (Medicine €140/ VHI €135/ spouse medical aid €127 (currently kids not covered)
€57 (mobile phones)
€600 (events - Communions/Confirmation/ friends birthday/christmas/holidays)
€800 Food (mostly Lidl but sometimes supervalu)
that comes to €5700 per month but our plan was to put in €5290 per month (2950 from me and €2340 per month). So obviously I will need to put in more to meet this amount. We hoped to put some extra of the mortgage and start some savings. but I don't see it happening - I haven't included anything going wrong with the house/ doctor appointments or car problems.
I work full time and the time and my husband works shift so we only have 2-3 days a month together and we usually like to go out for the day which with 6 people rarely costs less than €100. From looking at this website I can see we are paying too much for our mortgage repayments so that is something I will look at changing asap. Other than that is there anything else that is glaringly obvious?
thanks for taking the time to read - please be gentle with me
Spouse’s/Partner's age: 46
Annual gross income from employment or profession: 82,000 + €5k bonus
Annual gross income of spouse:€42,500 + €10-15k overtime
Monthly take-home pay €3927 after pension payment & bus ticket/ Spouse €590 per week (after pension) €560 child benefit
Type of employment: e.g. Civil Servant, self-employed Private Sector and Civil Service
In general are you:
(a) spending more than you earn, or
(b) saving? depends on the month but just about keeping up.
Rough estimate of value of home €450,000
Amount outstanding on your mortgage: €130,000 - 14 years left
What interest rate are you paying? 4.5% with ESB
Other borrowings – car loans/personal loans etc €12k loan w Credit Union - payment 300 per month - 4 years left to pay, spouse not sure of loan but €200 a month repayment and 3 year left to pay
Do you pay off your full credit card balance each month? almost - can't seem to clear it though
If not, what is the balance on your credit card? €500
Savings and investments: About 12K saved between us!
Do you have a pension scheme? 3 pensions - one with €11K, one with €50k, current one €9K/ Spouse no idea how much in it but DB and he can draw it down when he is 50.
Do you own any investment or other property? No
Ages of children: 12/9/6/4
Life insurance: Both have cover with work. Nothing outside that.
What specific question do you have or what issues are of concern to you?
For the first time since we met myself and husband have agreed to have a joint account and have one place where all expenses come from. To date we have had separate accounts and he has paid mortgage, esb, and a couple of other bills - I paid for food, childcare, everything with the kids, some other bills - in short there is continuous bad feelings about who is paying what and we hope that this will sort that out. So I sat down and put everything (I think) down in a spreadsheet that would need to go out of the account and what we would put into the account - when you write it down its quite shocking to see how much you spend! With the majority of our wages going into this joint account we still are not meeting our outgoings and probably explains why we are struggling. We live in the country and need 2 cars and with 4 kids one has to be a 7 seater.
High level of expenses PER MONTH looks like this -
€1519 (Mortgage/Electricity/Oil/Sky/Internet/Alarm/Bins/TV Licence/Prop Tax)
€995 ( 2 car loans, car tax, insurance, Diesel)
€1400 (Kids - child minder, kids classes like piano/drama/rugby/3 days out a month/birthdays/clothes/shoes/school books/uniform/fees)
€402 (Medicine €140/ VHI €135/ spouse medical aid €127 (currently kids not covered)
€57 (mobile phones)
€600 (events - Communions/Confirmation/ friends birthday/christmas/holidays)
€800 Food (mostly Lidl but sometimes supervalu)
that comes to €5700 per month but our plan was to put in €5290 per month (2950 from me and €2340 per month). So obviously I will need to put in more to meet this amount. We hoped to put some extra of the mortgage and start some savings. but I don't see it happening - I haven't included anything going wrong with the house/ doctor appointments or car problems.
I work full time and the time and my husband works shift so we only have 2-3 days a month together and we usually like to go out for the day which with 6 people rarely costs less than €100. From looking at this website I can see we are paying too much for our mortgage repayments so that is something I will look at changing asap. Other than that is there anything else that is glaringly obvious?
thanks for taking the time to read - please be gentle with me