Yes this is tempting me all the time, we bought the site built the house a great location and great views with lots of family history over the past 12 years its hard to convince my wife and im iffy enough also on it, but commercially it makes perfect sense.Sell house for €900k. Buy house for €600k. You will then have no mortgage and can divert the mortgage payments to savings and living a little instead of living like hermits.
Living is more important than having an expensive house but living like hermits.
Yes ill post the budget, was using a previous money makeover post as a template. Kids activities alone is another €600 a month on top of the childcare, grocery shopping is circa €800 a month now, the cost of living at the moment has really put an additional squeeze on us hence this post.Income per month is €6600
Outgoings listed in OP amount to €1560 per month
Add in monthly mortgage repayments of say €2k
That leaves €3k per month unaccounted for. You really need to understand where this money is going.
I will get at this tracking tonight and post it.Second thing - track your expenses for a month or two - you need to understand where the money is going. You'll then have options as to what course of action to take. It will give a tremendous feeling of control.
Third thing - once you've set your budget, and determined what you can save, do it via your pension scheme. It's automatic, you get a 40% top up from the tax man, it's maintenance free and compounds tax free.
Car loan: €480 per month
One holiday per year Staycations
It's not even factually correct.I think the headline here is misleading.
I think a lot of people are guilty of compartmentalising their money - I suspect the OP isn't thinking of the 35k as savings, but likely as a fund for their children's education or similar. It would explain why they didn't pay off the CC using it.It's not even factually correct.
If you can get into the habit of doing it every month, you'll also be able to see the impact of the changes you make over time too.I will get at this tracking tonight and post it.
Exactly this yes we would feel guilty using it.I think a lot of people are guilty of compartmentalising their money - I suspect the OP isn't thinking of the 35k as savings, but likely as a fund for their children's education or similar. It would explain why they didn't pay off the CC using it.
Yes agreed it’s a cash flow / money management I’m struggling with.It's not even factually correct.
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