Financial help

Age: 32
Spouse’s/Partner's age: 32

Annual gross income from employment or profession: 46,650
Annual gross income of spouse:12,000

Type of employment: e.g. Civil Servant, self-employed

In general are you:
(a) spending more than you earn, Yes (b) saving? No

Rough estimate of value of home: 300.000
Amount outstanding on your mortgage: 240.000
What interest rate are you paying? 4.55 with Permanent TSB

Other borrowings – car loans/personal loans etc
Credit card 1-5500 min payment 165 a month
Credit card 2-2000 min payment 65 a month
2 credit union loans-22.000 @ 500euro a month

Mortgage-1100 month(so far before increase kicks in)
Food shoppping - 600 month
Credit for phones - 60 month
petrol - 260 month
car insurance - 100 month
internet - 20 month
sky - 42 month
House insurance- 35 month

Do you pay off your full credit card balance each month? No. Arrears of 900 on credit card 1
If not, what is the balance on your credit card?

Savings and investments:
can sell shares to a value of 3000
Do you have a pension scheme? yes

Do you own any investment or other property? No

Ages of children:
10.7.3
Life insurance:
yes


What specific question do you have or what issues are of concern to you?
All money just goes on bills every month and always broke the last 2 weeks of the month. Money just seems to disapear. My wages goes on all bills and live off wifes wages for the rest of the month.

What is the exact take home pay every month - it's hard to know as each persons tax affairs differ slightly. Include childrens allowance.

If you don't know where the money is going start a spending diary. Write everything into it.

Car ins - is this for two cars? Even if it is shop around and see if you can get cheaper.

SKy can be almost halved to the basic package which I think is €23 - that is plenty of channels to keep ye going.

cut up the credit cards. try to have the balances frozen or switch to a 0% one.

What about ESB/GAS/Oil/Car tax.

Are you making the most of tax credits?

I take home bout 3200 a month and spouse takes home 800 a month.
I have cut up the credit cards and no longer use them, their balances are like that for a year or more.
ESB roughly 150 every 2 months and GAS roughly 120 a month.
We have sky multi room with basic package, have to keep the kids quiet,haha.
Yes its for 2 cars and also have 27 a month for bin service.

With all those figures there seems to be quite a bit of money unaccounted for so I would definitely start a spending diary to see where the money is going.
Is the interest frozen on the credit cards or are you incurring interest every month?
GAS is high at 120 a month. Fine for the winter we had but in the summer you shouldn't need it or it should be minimal.
You don't need multi room to keep the kids happy. that is your perception. There are lots of things they can do to amuse themselves. If they are thought to watch telly thats what they will do.
I have my niece staying with me (she's nearly 13) and I had to show her how to use the sky remote as they have no telly. She doesn't miss out.