age:31
Spouse’s/Partner's age: 33
Annual gross income from employment or profession:
Annual gross income of spouse:80
Type of employment: e.g. Civil Servant, self-employed :employed
In general are you:
(a) spending more than you earn, or-spending
(b) saving?
Rough estimate of value of home-190k
Amount outstanding on your mortgage: 265k
What interest rate are you paying? 5.09%
Other borrowings – car loans/personal loans etc-575p/m loan,7 months left
Do you pay off your full credit card balance each month? no
If not, what is the balance on your credit card? 4600
Savings and investments:3.5k
Do you have a pension scheme? yes,public,200p/m
Do you own any investment or other property? no
Ages of children: 3,1
Life insurance: yes with house for both of us
outgoings yearly
500 registration fees
2000 work related fees
6000-college fees each year
1800 health insurance
300-life ins
300-house ins
1000 car tax-2 cars
1000 car ins-2 cars
2000 holidays/misc
What specific question do you have or what issues are of concern to you?
we have a lot of outgoings and cover them all but do not have any savings,the 3.5k will only cover some uni fees for year.
the loan will be gone in 7 months and trying to plough some money to get rid of c/c,what amount of savings should we have at our age and income,where are we going wrong,we pay all bills etc and save towards hols etc but nothing long term,intend when loan is gone to keep saving and add to it,thinking 700pm ?should we be aiming for more?
edted to add,i know we could not go on hols etc and save that amount but my dh works 70hours per week,so we cherish them))
Spouse’s/Partner's age: 33
Annual gross income from employment or profession:
Annual gross income of spouse:80
Type of employment: e.g. Civil Servant, self-employed :employed
In general are you:
(a) spending more than you earn, or-spending
(b) saving?
Rough estimate of value of home-190k
Amount outstanding on your mortgage: 265k
What interest rate are you paying? 5.09%
Other borrowings – car loans/personal loans etc-575p/m loan,7 months left
Do you pay off your full credit card balance each month? no
If not, what is the balance on your credit card? 4600
Savings and investments:3.5k
Do you have a pension scheme? yes,public,200p/m
Do you own any investment or other property? no
Ages of children: 3,1
Life insurance: yes with house for both of us
outgoings yearly
500 registration fees
2000 work related fees
6000-college fees each year
1800 health insurance
300-life ins
300-house ins
1000 car tax-2 cars
1000 car ins-2 cars
2000 holidays/misc
What specific question do you have or what issues are of concern to you?
we have a lot of outgoings and cover them all but do not have any savings,the 3.5k will only cover some uni fees for year.
the loan will be gone in 7 months and trying to plough some money to get rid of c/c,what amount of savings should we have at our age and income,where are we going wrong,we pay all bills etc and save towards hols etc but nothing long term,intend when loan is gone to keep saving and add to it,thinking 700pm ?should we be aiming for more?
edted to add,i know we could not go on hols etc and save that amount but my dh works 70hours per week,so we cherish them))