Bit confused over what to do. So would appreciate any advice. I'll try and keep this concise but a lot of factors to consider.
My salary 70k
Wife 29k partime. Just recently went to a 4 day week.
Savings 26k
Wife Offered V.Redundency of 65k
Mortgage 410k (1400 a month after trs)
Creche 900€ a month
Ccards 1000€
No other loans.
Really confused as what to do. Initial plan was for my wife to leave her job. Max our savings and reduce the creche fee. Her current job doesn't really suit our family life style as she's often away. Intention for my wife to find a new job with regular hours and return to work after a few months off.
However given the current employment condition we are now thinking it may not be a great idea for her to leave her job. Even tho we could manage on my wage alone.
It's also our intention to buy our final 'forever after' home in the next 3 - 5 years. So we are also wondering would a bank favor two good jobs with continued savings hopefully up to 40k by that time or my wife hopefully gets employed again and we have large savings of 110k. Also if my wife continues to work we can maximize the amount we can save.
Any help or advice appreciated.
Thanks.
Any advice would be really appreciated.
My salary 70k
Wife 29k partime. Just recently went to a 4 day week.
Savings 26k
Wife Offered V.Redundency of 65k
Mortgage 410k (1400 a month after trs)
Creche 900€ a month
Ccards 1000€
No other loans.
Really confused as what to do. Initial plan was for my wife to leave her job. Max our savings and reduce the creche fee. Her current job doesn't really suit our family life style as she's often away. Intention for my wife to find a new job with regular hours and return to work after a few months off.
However given the current employment condition we are now thinking it may not be a great idea for her to leave her job. Even tho we could manage on my wage alone.
It's also our intention to buy our final 'forever after' home in the next 3 - 5 years. So we are also wondering would a bank favor two good jobs with continued savings hopefully up to 40k by that time or my wife hopefully gets employed again and we have large savings of 110k. Also if my wife continues to work we can maximize the amount we can save.
Any help or advice appreciated.
Thanks.
Any advice would be really appreciated.