Age: 24
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: €85,000 - €4500/mo after tax
Annual gross income of spouse: N/A
Type of employment: Private Sector
Current living in rented property at €900 p/m
No other borrowings apart from credit card.
I usually make €10000 a year additionally from agricultural grants which
usually goes straight into the mortgage. These grants were not paid last year.
Do you pay off your full credit card balance each month? Minimum payment since January
If not, what is the balance on your credit card? 6600
Savings and investments: Totally depleted after medical bills
Do you have a pension scheme? Company Defined Benefit
Do you own any investment or other property?
Rented out old home. Value 190k, Mortgage remaining 250k, Tracker 1% over ECB
Rental Income €750, Mortgage €960
Ages of children: N/A
Life insurance: Only for Mortgage
I've had a pretty unlucky year in regards to my health. I'm lying in bed at the moment recovering from my fifth and hopefully last surgery in 6 months.
Over this whole saga I've incurred significant out of pocket expenses for items the VHI would not cover. I've kept my reciepts and i'm doing up the paperwork to try to recover
a portion (circa €1000) from the VHI and other expenses against a MED1.
My savings are gone and my previously clear credit card now has €6600 on it. I also expect a further €3000 of medical expenses to come up between now and June.
I'm lucky enough to have an employer who has been very understanding and accommodating despite my joining the company only last year.
I've been told at my annual review that I will receive a second bonus in June of €5000. Also I'm due to be reimbursed for a business expense from last year of €3000 probably in May.
I hope to use these to pay off the credit card debt.
I'm also looking at moving back home in June as my father was recently taken ill and my parents have drastically reduced income since he was laid off. Commuting costs would be €400-500/mo if I were to do this.
I'm wondering whether any of you has any advice or suggestions as to whether I should be handling things differently, and whether I should build back up some emergency savings before getting rid of the credit card debt.
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: €85,000 - €4500/mo after tax
Annual gross income of spouse: N/A
Type of employment: Private Sector
Current living in rented property at €900 p/m
No other borrowings apart from credit card.
I usually make €10000 a year additionally from agricultural grants which
usually goes straight into the mortgage. These grants were not paid last year.
Do you pay off your full credit card balance each month? Minimum payment since January
If not, what is the balance on your credit card? 6600
Savings and investments: Totally depleted after medical bills
Do you have a pension scheme? Company Defined Benefit
Do you own any investment or other property?
Rented out old home. Value 190k, Mortgage remaining 250k, Tracker 1% over ECB
Rental Income €750, Mortgage €960
Ages of children: N/A
Life insurance: Only for Mortgage
I've had a pretty unlucky year in regards to my health. I'm lying in bed at the moment recovering from my fifth and hopefully last surgery in 6 months.
Over this whole saga I've incurred significant out of pocket expenses for items the VHI would not cover. I've kept my reciepts and i'm doing up the paperwork to try to recover
a portion (circa €1000) from the VHI and other expenses against a MED1.
My savings are gone and my previously clear credit card now has €6600 on it. I also expect a further €3000 of medical expenses to come up between now and June.
I'm lucky enough to have an employer who has been very understanding and accommodating despite my joining the company only last year.
I've been told at my annual review that I will receive a second bonus in June of €5000. Also I'm due to be reimbursed for a business expense from last year of €3000 probably in May.
I hope to use these to pay off the credit card debt.
I'm also looking at moving back home in June as my father was recently taken ill and my parents have drastically reduced income since he was laid off. Commuting costs would be €400-500/mo if I were to do this.
I'm wondering whether any of you has any advice or suggestions as to whether I should be handling things differently, and whether I should build back up some emergency savings before getting rid of the credit card debt.