ned official
Registered User
- Messages
- 34
Age:
34
Spouse’s/Partner's age:33
Annual gross income from employment or profession:
€53,000 should rise to 60k in next few years
Annual gross income spouse:
€45,000 should rise to 55-60k in next few years
Monthly take-home pay:
€5,500 both of us
Type of employment:
Both Private sector
Expenditure pattern:
Good saver last few years as had to come up with 20% house deposit
Rough estimate of value of home
€320,000
Mortgage on home
€250,000
31 Years remaining
Mortgage provider:
KBC
Type of mortgage: Tracker, interest only, fixed rate
1 Year fixed matures next Feb
Interest rate
2.9%
Other borrowings – car loans/personal loans etc
1K House improvement loan will be fully paid next month. 14k Interest free loan from family member (help for house deposit) can be paid back anytime but want to get it paid ASAP without putting ourselves under pressure
Do you pay off your full credit card balance each month?
Yes direct debit each month
Savings and investments:
No savings had about 45k but all went on new house last year (deposit and home improvement). Just started saving €600 euro a month between us but that will go to family member when reaches 12K
Do you have a pension scheme?
Yes about 50k in pot. I pay 4% and employer pay 6%
Wife is starting pension this month 5% and 5% employer
Do you own any investment or other property?
No
Ages of children:
1 Year old and plan one more in next in the next 18 months then snip snip.
Life insurance:
Mortgage protection and decent one with work 5X salary if I die and 66% of salary if go out on long term illness with continued pension
What specific question do you have or what issues are of concern to you?
Although we are pulling in net 5.5k per month if feels like we are struggling week to week. We saved hard for 3-4 years to buy new house last year and kinda lowered of standard of living for this time. We taught it would get a lot easier once we had the house but we seem to have less money ( House we moved into was builder finish so we are still spending money new piece of furniture each month etc). We should have House finished by next xmas. Also it didn't help that we had new born week after we moved into House and wife didn't get maternity leave. At the moment out major outgoing are mortgage 1,050. Childcare €300. House Improvement Loan €300, Savings to pay back family member €600. our bills are fairly cheap as we live in A energy home. about €200 including tv/mobile/internet/bins/esb/gas We spent a lot on food we never buy any processed food and always eat fresh as we are both big into fitness and want to bring out little girl up like this by knowing to eat the right stuff. (still lidl an aldi mostly) Wife does spend bit on baby clothes more next/mothercare over penneys/dunnes. (Its not for debate this or the cutback on food. I have a lot of benefits from work. Free travel, full VHI for family, free breakfast).
This year we had 6 weddings and will be 2 foreign holidays so that eat into lot of cash. (1 holidays just cost us flights as we stayed with by sister in Spain) We plan on doing attic conversion next year when 2nd baby arrives as we will have to hire live in nanny cheaper than crèche. Before we started saving for house we used go out 2/3 nights and eat out 1/2 nights. used to go on weekends breaks etc or always go foreign when I saw a cheap flight. I also drove a nice car.
Not looking to get back to this standard of living but looking for some advice to get us back to maybe going out 1 night per week. We currently only go out maybe 1 night a month unless we are going to a wedding or something like that. We also plan on overpaying over mortgage by 50% once all debt is paid back etc.
34
Spouse’s/Partner's age:33
Annual gross income from employment or profession:
€53,000 should rise to 60k in next few years
Annual gross income spouse:
€45,000 should rise to 55-60k in next few years
Monthly take-home pay:
€5,500 both of us
Type of employment:
Both Private sector
Expenditure pattern:
Good saver last few years as had to come up with 20% house deposit
Rough estimate of value of home
€320,000
Mortgage on home
€250,000
31 Years remaining
Mortgage provider:
KBC
Type of mortgage: Tracker, interest only, fixed rate
1 Year fixed matures next Feb
Interest rate
2.9%
Other borrowings – car loans/personal loans etc
1K House improvement loan will be fully paid next month. 14k Interest free loan from family member (help for house deposit) can be paid back anytime but want to get it paid ASAP without putting ourselves under pressure
Do you pay off your full credit card balance each month?
Yes direct debit each month
Savings and investments:
No savings had about 45k but all went on new house last year (deposit and home improvement). Just started saving €600 euro a month between us but that will go to family member when reaches 12K
Do you have a pension scheme?
Yes about 50k in pot. I pay 4% and employer pay 6%
Wife is starting pension this month 5% and 5% employer
Do you own any investment or other property?
No
Ages of children:
1 Year old and plan one more in next in the next 18 months then snip snip.
Life insurance:
Mortgage protection and decent one with work 5X salary if I die and 66% of salary if go out on long term illness with continued pension
What specific question do you have or what issues are of concern to you?
Although we are pulling in net 5.5k per month if feels like we are struggling week to week. We saved hard for 3-4 years to buy new house last year and kinda lowered of standard of living for this time. We taught it would get a lot easier once we had the house but we seem to have less money ( House we moved into was builder finish so we are still spending money new piece of furniture each month etc). We should have House finished by next xmas. Also it didn't help that we had new born week after we moved into House and wife didn't get maternity leave. At the moment out major outgoing are mortgage 1,050. Childcare €300. House Improvement Loan €300, Savings to pay back family member €600. our bills are fairly cheap as we live in A energy home. about €200 including tv/mobile/internet/bins/esb/gas We spent a lot on food we never buy any processed food and always eat fresh as we are both big into fitness and want to bring out little girl up like this by knowing to eat the right stuff. (still lidl an aldi mostly) Wife does spend bit on baby clothes more next/mothercare over penneys/dunnes. (Its not for debate this or the cutback on food. I have a lot of benefits from work. Free travel, full VHI for family, free breakfast).
This year we had 6 weddings and will be 2 foreign holidays so that eat into lot of cash. (1 holidays just cost us flights as we stayed with by sister in Spain) We plan on doing attic conversion next year when 2nd baby arrives as we will have to hire live in nanny cheaper than crèche. Before we started saving for house we used go out 2/3 nights and eat out 1/2 nights. used to go on weekends breaks etc or always go foreign when I saw a cheap flight. I also drove a nice car.
Not looking to get back to this standard of living but looking for some advice to get us back to maybe going out 1 night per week. We currently only go out maybe 1 night a month unless we are going to a wedding or something like that. We also plan on overpaying over mortgage by 50% once all debt is paid back etc.