Age:
35
Spouse’s/Partner's age:
35
Annual gross income from employment or profession:
35k
Annual gross income of spouse:
40k
Monthly take-home pay:
2400 (not yet accounting for pension contribution)
Type of employment:
Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving in a sense that it's just sitting in my current account.
Rough estimate of value of home:
Renting.
Amount outstanding on your mortgage:
n/a
What interest rate are you paying?
n/a
Other borrowings – car loans/personal loans etc:
None.
Do you pay off your full credit card balance each month?
Only recently began doing this.
If not, what is the balance on your credit card?
Up to a few months ago it was maxed out at 1k.
Savings and investments:
None.
Do you have a pension scheme?
Just signing up to one now. Company will contribute 10% and I will put in 2.5%. Could increase this if I wanted to.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
None.
What specific question do you have or what issues are of concern to you?
Firstly, I've never had a savings account and just got in to a habit of just letting it sit in my current account instead. I have 12k sitting in it at the moment but I don't know what to do with it. I'm thinking of leaving 4k in it permanently (as the account is with BOI, so I don't incur any charges) and put the other 8k in some savings.
The two options I'm looking at are KBC and PTSB. Benefits of the former is that I can put a lump sum in and go from there, and the interest rate of course. Benefit of the latter is that I can make ad-hoc lodgements and not have a standing order set up. Possibly a stupid question but could I just open the two savings accounts and keep my current account with BOI? Or does that make zero sense?
Secondly, am I foolish not to add another 2.5% to my pension fund?
Thanks guys!
35
Spouse’s/Partner's age:
35
Annual gross income from employment or profession:
35k
Annual gross income of spouse:
40k
Monthly take-home pay:
2400 (not yet accounting for pension contribution)
Type of employment:
Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving in a sense that it's just sitting in my current account.
Rough estimate of value of home:
Renting.
Amount outstanding on your mortgage:
n/a
What interest rate are you paying?
n/a
Other borrowings – car loans/personal loans etc:
None.
Do you pay off your full credit card balance each month?
Only recently began doing this.
If not, what is the balance on your credit card?
Up to a few months ago it was maxed out at 1k.
Savings and investments:
None.
Do you have a pension scheme?
Just signing up to one now. Company will contribute 10% and I will put in 2.5%. Could increase this if I wanted to.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
None.
What specific question do you have or what issues are of concern to you?
Firstly, I've never had a savings account and just got in to a habit of just letting it sit in my current account instead. I have 12k sitting in it at the moment but I don't know what to do with it. I'm thinking of leaving 4k in it permanently (as the account is with BOI, so I don't incur any charges) and put the other 8k in some savings.
The two options I'm looking at are KBC and PTSB. Benefits of the former is that I can put a lump sum in and go from there, and the interest rate of course. Benefit of the latter is that I can make ad-hoc lodgements and not have a standing order set up. Possibly a stupid question but could I just open the two savings accounts and keep my current account with BOI? Or does that make zero sense?
Secondly, am I foolish not to add another 2.5% to my pension fund?
Thanks guys!