Age: 30
Spouse’s/Partner's age: 33
Annual gross income from employment or profession: €32,500 - Fulltime/private sector
Annual gross income of spouse:€35,000 approximately, however, he is self employed so this varies massively
Type of employment: e.g. Civil Servant, self-employed
In general are you: - (a) spending more than we earn
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home: €210,000
Amount outstanding on your mortgage: €210,00 (only 6 months into mortgage, property has decreased by approz €20,000k)
What interest rate are you paying? 5.99% fixed
Other borrowings – car loans/personal loans etc
Car loan - 560 per month - €20,000 balance
Credit union loan 1 - 100 per week - €12,000 balance
Credit union loan 2 - 100 per week- €12,000 balance
Loan to family - 100.00 per month - €8,000 balance
Childcare - 155.00 per week
Life assurance - 180 per month
Health Insurance - 58.00 per month
Sky - 22.00 per month
Credit card - €50.00 per month - €2,100 balance
Heat/Electricity - €170.00 per month (average)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €2100.00
Savings and investments:Approximately €4000 in credit union but not accessible because of the loans
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 3 years
Life insurance: Yes, €180.00 per month
What specific question do you have or what issues are of concern to you?
My spouse's income has decreased dramatically over the past few month's, it is unreliable and irratic and there are no signs of it improving at all.
I posted a thread on the mortgage website in relation to getting out of the 5.99& fixed rate, but at the moment the penalty is too high (€17,000k) to get out of, so it doesn't look like we can save money there.
I have cut the basic's back as low as I can, quit smoking, taking lunches to work, no socialising, our only luxury is the €22.00 per month basic sky and since we're not going out it's really the only thing keeping us sane!
For the last few weeks our income is much lower than our outgoings and we have missed last month's car loan.
I really don't know what to do, any advise would be much appreciated
Spouse’s/Partner's age: 33
Annual gross income from employment or profession: €32,500 - Fulltime/private sector
Annual gross income of spouse:€35,000 approximately, however, he is self employed so this varies massively
Type of employment: e.g. Civil Servant, self-employed
In general are you: - (a) spending more than we earn
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home: €210,000
Amount outstanding on your mortgage: €210,00 (only 6 months into mortgage, property has decreased by approz €20,000k)
What interest rate are you paying? 5.99% fixed
Other borrowings – car loans/personal loans etc
Car loan - 560 per month - €20,000 balance
Credit union loan 1 - 100 per week - €12,000 balance
Credit union loan 2 - 100 per week- €12,000 balance
Loan to family - 100.00 per month - €8,000 balance
Childcare - 155.00 per week
Life assurance - 180 per month
Health Insurance - 58.00 per month
Sky - 22.00 per month
Credit card - €50.00 per month - €2,100 balance
Heat/Electricity - €170.00 per month (average)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €2100.00
Savings and investments:Approximately €4000 in credit union but not accessible because of the loans
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 3 years
Life insurance: Yes, €180.00 per month
What specific question do you have or what issues are of concern to you?
My spouse's income has decreased dramatically over the past few month's, it is unreliable and irratic and there are no signs of it improving at all.
I posted a thread on the mortgage website in relation to getting out of the 5.99& fixed rate, but at the moment the penalty is too high (€17,000k) to get out of, so it doesn't look like we can save money there.
I have cut the basic's back as low as I can, quit smoking, taking lunches to work, no socialising, our only luxury is the €22.00 per month basic sky and since we're not going out it's really the only thing keeping us sane!
For the last few weeks our income is much lower than our outgoings and we have missed last month's car loan.
I really don't know what to do, any advise would be much appreciated