F
fussyjane
Guest
Age: 40
Spouse’s/Partner's age: 37
Annual gross income from employment or profession: Not working from Sept, going back to college for a year
Annual gross income of spouse:65k (self employed, contractor but seems ok so far)
In general are you spending more than you earn or are you saving?Sometimes and other times break even.
Rough estimate of value of home 300k
Amount outstanding on your mortgage:260k
What interest rate are you paying? think it's 5. something but we pay 1400 pm.
Other borrowings – car loans/personal loans etc
Have a car loan of 10k exp in 2011, paying 198 pm at 7.25% apr. (Fixed Rate)
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments:
27k (sitting in a easy access savings account)
5k (in a 2 year bond will need it for college fees)
10k (18 month bond)
Do you have a pension scheme? Yes (12k but frozen now) Partner has own private pension.
Do you own any investment or other property? a small apt in France but not renting, it's costing us 2.5 k p.a to maintain.
Ages of children: 1 child 1 year
Life insurance: No
Have bupa family cover.
What specific question do you have or what issues are of concern to you?
We were doing ok since I decided to go back to college(no regrets!). Until that point we managed to save a bit and put it away. Now we had a baby n gave up good job to study (career move) so finding it a bit of a strain.
My first question is about my car loan, I would like to pay it off but not sure if it's the right thing cos it's fixed rate loan n they may charge me. But it's 200 wasted p.m. What do you recommend we do about this? My car is dying a slow death and want to change my car too. But hoping to wait till end of year when cars are hopefully cheaper.
My second question is that we would like to rent our apt in Fr but are afraid it may end up costing us more than 2.5 k p.a. At least now it's less hassle etc but again not sure if this is correct. Pls advice.
My third question is about our savings, we generally pretend that we don't have any savings. We never dip into our savings (so far!!) but is it okay in this climate to leave the 27k sitting in an account?
My fourth and last question (sorry!) is about my pension. Now that I'm not working my company pension is sitting there doing nothing. Should I put some money into it every now and then from the monthly household funds...?
So sorry for the long post!!!
Spouse’s/Partner's age: 37
Annual gross income from employment or profession: Not working from Sept, going back to college for a year
Annual gross income of spouse:65k (self employed, contractor but seems ok so far)
In general are you spending more than you earn or are you saving?Sometimes and other times break even.
Rough estimate of value of home 300k
Amount outstanding on your mortgage:260k
What interest rate are you paying? think it's 5. something but we pay 1400 pm.
Other borrowings – car loans/personal loans etc
Have a car loan of 10k exp in 2011, paying 198 pm at 7.25% apr. (Fixed Rate)
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments:
27k (sitting in a easy access savings account)
5k (in a 2 year bond will need it for college fees)
10k (18 month bond)
Do you have a pension scheme? Yes (12k but frozen now) Partner has own private pension.
Do you own any investment or other property? a small apt in France but not renting, it's costing us 2.5 k p.a to maintain.
Ages of children: 1 child 1 year
Life insurance: No
Have bupa family cover.
What specific question do you have or what issues are of concern to you?
We were doing ok since I decided to go back to college(no regrets!). Until that point we managed to save a bit and put it away. Now we had a baby n gave up good job to study (career move) so finding it a bit of a strain.
My first question is about my car loan, I would like to pay it off but not sure if it's the right thing cos it's fixed rate loan n they may charge me. But it's 200 wasted p.m. What do you recommend we do about this? My car is dying a slow death and want to change my car too. But hoping to wait till end of year when cars are hopefully cheaper.
My second question is that we would like to rent our apt in Fr but are afraid it may end up costing us more than 2.5 k p.a. At least now it's less hassle etc but again not sure if this is correct. Pls advice.
My third question is about our savings, we generally pretend that we don't have any savings. We never dip into our savings (so far!!) but is it okay in this climate to leave the 27k sitting in an account?
My fourth and last question (sorry!) is about my pension. Now that I'm not working my company pension is sitting there doing nothing. Should I put some money into it every now and then from the monthly household funds...?
So sorry for the long post!!!