N
nomoney
Guest
Age: 30
Spouse’s/Partner's age: 32
Annual gross income from employment or profession: 49k - €2800 after tax and pension
Annual gross income of spouse: 31k - €2000pm after tax and pension
Type of employment: e.g. Civil Servant, self-employed
private sector
In general are you:
(a) spending more than you earn
Rough estimate of value of home: at a guess €295k but who knows!
Amount outstanding on your mortgage: €310k
What interest rate are you paying? 2.1% -tracker +1% €1100pm plus morg protection of €100
Other borrowings – car loans/personal loans etc
Loan 1 - €430pm €15k remaining
Loan 2 - €297pm €3.5k remaining
Loan 3 - €170pm €3k remaining
Loan 4 - €375pm €7k remaining
Do you pay off your full credit card balance each month? NO
If not, what is the balance on your credit card?
Card 1: €6400 - €150pm
Card 2: €7500 - €200pm
Card 3: €7000 - €300pm
Savings and investments:
€1500 credit union
Do you have a pension scheme?
Yes
Do you own any investment or other property? no
Ages of children: na
Life insurance: yes
What specific question do you have or what issues are of concern to you?
We foolishly racked up a lot of debt over the years due to a period of unemployment and stupidly living beyond our means.
Basically we just seem to be living month to month and can't seem to get savings together or even have money for emergencies.
Along with our loans, we have management fees of €200pm, utilities of €150pm phone of €100, car insurance of €100, medical bills of €150, petrol for 2 cars €160, food €350 etc etc.
We just never seem to have any money left or able to save. We can't afford to even go away for a night this summer let alone a holiday. I am awake at night thinking of the loans as if one of us lost our jobs we'd be screwed. Every month we think we should have our self sorted and something comes along eg car repairs/car tax, birthdays, weddings etc.
We don't go out anymore other than than a few drinks in friends house and haven't bought clothes etc in ages. We are married and in our early 30's, suddenly thinking we'd like to start a family soon and that at the moment isn't an option.
I was thinking of approaching the bank for a interest only period on the mortgage in order to clear one or two of the loans but am wondering is this stupid considering we can pay the loans?
Any advice welcome.
Spouse’s/Partner's age: 32
Annual gross income from employment or profession: 49k - €2800 after tax and pension
Annual gross income of spouse: 31k - €2000pm after tax and pension
Type of employment: e.g. Civil Servant, self-employed
private sector
In general are you:
(a) spending more than you earn
Rough estimate of value of home: at a guess €295k but who knows!
Amount outstanding on your mortgage: €310k
What interest rate are you paying? 2.1% -tracker +1% €1100pm plus morg protection of €100
Other borrowings – car loans/personal loans etc
Loan 1 - €430pm €15k remaining
Loan 2 - €297pm €3.5k remaining
Loan 3 - €170pm €3k remaining
Loan 4 - €375pm €7k remaining
Do you pay off your full credit card balance each month? NO
If not, what is the balance on your credit card?
Card 1: €6400 - €150pm
Card 2: €7500 - €200pm
Card 3: €7000 - €300pm
Savings and investments:
€1500 credit union
Do you have a pension scheme?
Yes
Do you own any investment or other property? no
Ages of children: na
Life insurance: yes
What specific question do you have or what issues are of concern to you?
We foolishly racked up a lot of debt over the years due to a period of unemployment and stupidly living beyond our means.
Basically we just seem to be living month to month and can't seem to get savings together or even have money for emergencies.
Along with our loans, we have management fees of €200pm, utilities of €150pm phone of €100, car insurance of €100, medical bills of €150, petrol for 2 cars €160, food €350 etc etc.
We just never seem to have any money left or able to save. We can't afford to even go away for a night this summer let alone a holiday. I am awake at night thinking of the loans as if one of us lost our jobs we'd be screwed. Every month we think we should have our self sorted and something comes along eg car repairs/car tax, birthdays, weddings etc.
We don't go out anymore other than than a few drinks in friends house and haven't bought clothes etc in ages. We are married and in our early 30's, suddenly thinking we'd like to start a family soon and that at the moment isn't an option.
I was thinking of approaching the bank for a interest only period on the mortgage in order to clear one or two of the loans but am wondering is this stupid considering we can pay the loans?
Any advice welcome.