Age: 34
Spouse’s age: 35
Annual gross income from employment or profession: €15,000
Annual gross income of spouse:€39,000 (he is paid in sterling)
Type of employment:
Private sector, both working part-time
In general are you:
(a) spending more than you earn Yes, but not by that much anymore
(b) saving? No
Rough estimate of value of home
Renting (€700 per month)
Two investment properties, see below
What interest rates are you paying?
Renting €700 per month
Other borrowings – car loans/personal loans etc
We have 1 car, but still have 1 year left to pay on the old car
Car loan 1 - approx €1,500 left to pay (this is a sterling loan)
Car loan 2 - approx €6,800 left to pay (this is a sterling loan)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card?
Credit card 1 €1,500
Credit card 2 approx €6,500 (spouse's)
Savings and investments:
€20,000 from SSIA
Do you have a pension scheme?
Husband paying into UK one - approx €115 a month
Do you own any investment or other property?
Property 1 - Being sold at mo for €310,000
Property 2 - Approx €170,000
Mortgage 1 - €176,000
Mortgage 2 - €105,000
Ages of children:
One child aged 2
Life insurance:
Bank of Ireland on Property 1
Husband has one on property 2 which is not directly linked to the property, but is linked to the term of the loan and the benefit decreases concurrently
Other major expenditure:
Childcare €150 a week
What specific question do you have or what issues are of concern to you?
How do we make best use of the €135,000 from the sale of the house and €20,000 SSIA money and of our income generally. We would like to buy a house and want to figure out how much to spend. We don't want to have to move again. I was thinking of buying one for €380,000 and using €65,000 to do this and saving €40,000 in case my husband loses his job. Paying off both credit cards and car loans and saving some for fees and stamp duty.
We both want to continue working part-time. My husband works 4 days and I work 3 days. My earnings should increase over the next few years as I am a trainee solicitor due to be kept on. While I won't earn a fortune, given the economic climate, it will be more. We both have the option of working full-time.
Quality of life is more important to us (i.e. having free-time to spend with our family) than a huge income. We don't make any major purchases or go on holidays other than to stay with family except for one weekend a year to London. Our/my one vice is nice food.
Spouse’s age: 35
Annual gross income from employment or profession: €15,000
Annual gross income of spouse:€39,000 (he is paid in sterling)
Type of employment:
Private sector, both working part-time
In general are you:
(a) spending more than you earn Yes, but not by that much anymore
(b) saving? No
Rough estimate of value of home
Renting (€700 per month)
Two investment properties, see below
What interest rates are you paying?
Renting €700 per month
Other borrowings – car loans/personal loans etc
We have 1 car, but still have 1 year left to pay on the old car
Car loan 1 - approx €1,500 left to pay (this is a sterling loan)
Car loan 2 - approx €6,800 left to pay (this is a sterling loan)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card?
Credit card 1 €1,500
Credit card 2 approx €6,500 (spouse's)
Savings and investments:
€20,000 from SSIA
Do you have a pension scheme?
Husband paying into UK one - approx €115 a month
Do you own any investment or other property?
Property 1 - Being sold at mo for €310,000
Property 2 - Approx €170,000
Mortgage 1 - €176,000
Mortgage 2 - €105,000
Ages of children:
One child aged 2
Life insurance:
Bank of Ireland on Property 1
Husband has one on property 2 which is not directly linked to the property, but is linked to the term of the loan and the benefit decreases concurrently
Other major expenditure:
Childcare €150 a week
What specific question do you have or what issues are of concern to you?
How do we make best use of the €135,000 from the sale of the house and €20,000 SSIA money and of our income generally. We would like to buy a house and want to figure out how much to spend. We don't want to have to move again. I was thinking of buying one for €380,000 and using €65,000 to do this and saving €40,000 in case my husband loses his job. Paying off both credit cards and car loans and saving some for fees and stamp duty.
We both want to continue working part-time. My husband works 4 days and I work 3 days. My earnings should increase over the next few years as I am a trainee solicitor due to be kept on. While I won't earn a fortune, given the economic climate, it will be more. We both have the option of working full-time.
Quality of life is more important to us (i.e. having free-time to spend with our family) than a huge income. We don't make any major purchases or go on holidays other than to stay with family except for one weekend a year to London. Our/my one vice is nice food.