Age: 27
Spouse’s/Partner's age: 28
Annual gross income from employment or profession: 35K
Annual gross income spouse:45K
Type of employment: e.g. Civil Servant, self-employed (both) I.T. private sector
Expenditure pattern: In general are you spending more than you earn or are you saving? normally no, but on maternity leave at the moment, so yes.
Rough estimate of value of home 430K
Mortgage on home 240 K
Mortgage provider: AIB
Type of mortgage: Tracker, interest only, fixed rate LTV 50 - 80%
Interest rate 4.6%
Other borrowings – car loans/personal loans etc No
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? Zero
Savings and investments: AIB 18K, Anglo 13K, C.U. 1.5K
Do you have a pension scheme? yes - hubby doesn't
Do you own any investment or other property? No
Ages of children: 1 and 3 months
Life insurance: 300K joint cover
What specific question do you have or what issues are of concern to you?
I want to give up full time work and stay at home to raise my children. I have been working towards this for the last 18 months clearing loans, building up savings etc. I have a good job and its fairly secure so I am nervous about giving it up especially when so many of our friends are losing their jobs at the moment.
Should I bite the bullet and give it up now, or should I work away with a view to giving it up when they start school and working becomes more difficult because of school runs etc. If i were to stay working , creche fees will cost 310euro per week for the children.
Any opinions/advice?
Thank you in advance for replying
Spouse’s/Partner's age: 28
Annual gross income from employment or profession: 35K
Annual gross income spouse:45K
Type of employment: e.g. Civil Servant, self-employed (both) I.T. private sector
Expenditure pattern: In general are you spending more than you earn or are you saving? normally no, but on maternity leave at the moment, so yes.
Rough estimate of value of home 430K
Mortgage on home 240 K
Mortgage provider: AIB
Type of mortgage: Tracker, interest only, fixed rate LTV 50 - 80%
Interest rate 4.6%
Other borrowings – car loans/personal loans etc No
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? Zero
Savings and investments: AIB 18K, Anglo 13K, C.U. 1.5K
Do you have a pension scheme? yes - hubby doesn't
Do you own any investment or other property? No
Ages of children: 1 and 3 months
Life insurance: 300K joint cover
What specific question do you have or what issues are of concern to you?
I want to give up full time work and stay at home to raise my children. I have been working towards this for the last 18 months clearing loans, building up savings etc. I have a good job and its fairly secure so I am nervous about giving it up especially when so many of our friends are losing their jobs at the moment.
Should I bite the bullet and give it up now, or should I work away with a view to giving it up when they start school and working becomes more difficult because of school runs etc. If i were to stay working , creche fees will cost 310euro per week for the children.
Any opinions/advice?
Thank you in advance for replying