Age: 32
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: 47K
Annual gross income spouse: 70K
Type of employment: e.g. Civil Servant, self-employed. Fulltime employment, spouse in a recognised profession.
Expenditure pattern: In general are you spending more than you earn or are you saving? Not anymore, although we were living beyond our means for a long time.
Rough estimate of value of home: Nil
Mortgage on home: Nil
Mortgage provider:
Type of mortgage: Tracker, interest only, fixed rate
Interest rate
Other borrowings – car loans/personal loans etc
Loan: 7000, min payment is 300 p/m. Aiming to pay a lot more off this
Car: 4200 owed, paying 267 p/m (value 4K)
Credit card: 900 (@ 9.9%)
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
Savings and investments:
No investments, c.1K in savings that is there for emergencies (car / emergency flights somewhere etc.)
Do you have a pension scheme? Yes, both in employers schemes at c.6%
Do you own any investment or other property? No
Ages of children: None
Life insurance: None
Other outgoings:
Broadband: 20 p/m
Phones: 40 & 50 p/m (bill pay)
Shopping (food): 250 p/m
Petrol: 40 p/m
Lunch / morning coffee: Me 200 p/m, Spouse 100 p/m
Dry cleaning: 40 p/m
Rent: 1250 p/m
Socialising: 200 p/m for meeting friends, cinema, comedy club etc.
Socialising: 100 p/m in unplanned events (friends home from abroad etc. at short notice)
Clothes: 100 p/m
Other expenses: 100 p/m (birthdays etc.)
Employers pay health insurance
Medical bills: 50 p/m
Net income:
Me: 2,990 p/m
Spouse: 3,900 p/m
We would like to buy a house towards the end of this year or early next year. Fully aware of the current market so will be aiming for a house we could stay in for at least 20 years / life. This will be in Dublin and be at least a 3 bed.
The current plan is to live off my salary, 2 people renting in Dublin should be able to live of 3K a month with little problems. Use Spouses salary to pay down debt in the order of credit card, loan and car loan.
Will open a savings account with one of the new deals (probably Postbank) and gain interest on the money as it is saved. We have no holidays planned this year, although I think we would like to get away if possible to somewhere in Europe, with a couple of weekends away likely too. Decisions on this are likely to be dictated by how close we are to our target and the destinations involved.
The figures above do not include annual bonuses of c. 5% paid in April & May.
Really I am looking for confirmation that we have the right plan in place to save a deposit for a house. I know we could tighten our belts a little more (especially my morning coffee habit and more expensive lunches). Our food bill is probably high, but it is always fresh food and rarely fast / pre-prepared and usually includes a bottle of wine for the week.
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: 47K
Annual gross income spouse: 70K
Type of employment: e.g. Civil Servant, self-employed. Fulltime employment, spouse in a recognised profession.
Expenditure pattern: In general are you spending more than you earn or are you saving? Not anymore, although we were living beyond our means for a long time.
Rough estimate of value of home: Nil
Mortgage on home: Nil
Mortgage provider:
Type of mortgage: Tracker, interest only, fixed rate
Interest rate
Other borrowings – car loans/personal loans etc
Loan: 7000, min payment is 300 p/m. Aiming to pay a lot more off this
Car: 4200 owed, paying 267 p/m (value 4K)
Credit card: 900 (@ 9.9%)
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
Savings and investments:
No investments, c.1K in savings that is there for emergencies (car / emergency flights somewhere etc.)
Do you have a pension scheme? Yes, both in employers schemes at c.6%
Do you own any investment or other property? No
Ages of children: None
Life insurance: None
Other outgoings:
Broadband: 20 p/m
Phones: 40 & 50 p/m (bill pay)
Shopping (food): 250 p/m
Petrol: 40 p/m
Lunch / morning coffee: Me 200 p/m, Spouse 100 p/m
Dry cleaning: 40 p/m
Rent: 1250 p/m
Socialising: 200 p/m for meeting friends, cinema, comedy club etc.
Socialising: 100 p/m in unplanned events (friends home from abroad etc. at short notice)
Clothes: 100 p/m
Other expenses: 100 p/m (birthdays etc.)
Employers pay health insurance
Medical bills: 50 p/m
Net income:
Me: 2,990 p/m
Spouse: 3,900 p/m
We would like to buy a house towards the end of this year or early next year. Fully aware of the current market so will be aiming for a house we could stay in for at least 20 years / life. This will be in Dublin and be at least a 3 bed.
The current plan is to live off my salary, 2 people renting in Dublin should be able to live of 3K a month with little problems. Use Spouses salary to pay down debt in the order of credit card, loan and car loan.
Will open a savings account with one of the new deals (probably Postbank) and gain interest on the money as it is saved. We have no holidays planned this year, although I think we would like to get away if possible to somewhere in Europe, with a couple of weekends away likely too. Decisions on this are likely to be dictated by how close we are to our target and the destinations involved.
The figures above do not include annual bonuses of c. 5% paid in April & May.
Really I am looking for confirmation that we have the right plan in place to save a deposit for a house. I know we could tighten our belts a little more (especially my morning coffee habit and more expensive lunches). Our food bill is probably high, but it is always fresh food and rarely fast / pre-prepared and usually includes a bottle of wine for the week.