Age: 25
Partners Age: 26
Gross Income: 36000
Partners Income: 32500
Type of Employment: private sector
Partners employment: trade - private sector
Expenditure pattern: In general are you spending more than you earn or are you saving: Not spending more than earning and saving a small amount regularly
Rough estimate of value of home: 500,000
Mortgage on home: self-build mortgage that will probably end up at 275,000
Mortgage provider: EBS
Type of Mortgage: variable at the moment but planning to fix when final stage payment is drawn down
Interest rate: not sure
Other borrowings: 26000 credit union loan (approx 15000 remaining to be paid)
Do you pay off your full credit card balance each month: Usually but have a balance of 900 at the moment from holiday during the summer
Savings and investments: very little. saving €500 per month in credit union but only for the past few months
Do you have a pension scheme?: no for both of us
Do you own any investment or other property?: no
Children: none
Monthly outgoings: currently mortgage payments stand at 600 but final repayment will be 1400 when house is finished, probably in feb/mar. credit union 1000, 360 to parents (both living at home until house is finished), 150 car insurance, 160 petrol, 120 gym membership, 300 credit card (will be cleared in 3 mths at this rate)
What specific question do you have or what issues are of concern to you?
As things stand we are able to manage relatively comfortably but I am concerned that we will struggle when we move into our house and have full mortgage to pay back along with credit union loan, esb bills, food, etc, etc. I am only finished college and in full time employment since Jan and that is why we have little savings. We are also hoping to get married in 09. Saving €500 per month in credit union for this and then planning to borrow a further 10-15 thou. Hoping to have current loan repaid by then. Basically want to know if we are in a terrible financial situation or am I worrying unneccessarily? Any advice would be welcome
Partners Age: 26
Gross Income: 36000
Partners Income: 32500
Type of Employment: private sector
Partners employment: trade - private sector
Expenditure pattern: In general are you spending more than you earn or are you saving: Not spending more than earning and saving a small amount regularly
Rough estimate of value of home: 500,000
Mortgage on home: self-build mortgage that will probably end up at 275,000
Mortgage provider: EBS
Type of Mortgage: variable at the moment but planning to fix when final stage payment is drawn down
Interest rate: not sure
Other borrowings: 26000 credit union loan (approx 15000 remaining to be paid)
Do you pay off your full credit card balance each month: Usually but have a balance of 900 at the moment from holiday during the summer
Savings and investments: very little. saving €500 per month in credit union but only for the past few months
Do you have a pension scheme?: no for both of us
Do you own any investment or other property?: no
Children: none
Monthly outgoings: currently mortgage payments stand at 600 but final repayment will be 1400 when house is finished, probably in feb/mar. credit union 1000, 360 to parents (both living at home until house is finished), 150 car insurance, 160 petrol, 120 gym membership, 300 credit card (will be cleared in 3 mths at this rate)
What specific question do you have or what issues are of concern to you?
As things stand we are able to manage relatively comfortably but I am concerned that we will struggle when we move into our house and have full mortgage to pay back along with credit union loan, esb bills, food, etc, etc. I am only finished college and in full time employment since Jan and that is why we have little savings. We are also hoping to get married in 09. Saving €500 per month in credit union for this and then planning to borrow a further 10-15 thou. Hoping to have current loan repaid by then. Basically want to know if we are in a terrible financial situation or am I worrying unneccessarily? Any advice would be welcome
