Thanks again for replies. Responses:-
'As an alternative, how about getting your husband to cook one (or even two!) nights a week. Then you will not be getting take-aways and you will not be cooking. Also, you can get recipes online to replicate basically any takeaway dish you like, including pizza. Despite having never met you, I can however safely say I would prefer absolutely anything you cooked over a frozen pizza ' Lol thanks for that vote of confidence. I will definitely implement changes here and stop the takeaways. Payday is this week so good time to start.
'I would recommend not taking money from savings to pay for a holiday, as once its over then you've nothing left but a hole in your savings account, and are back to square one. Rather than booking a private villa, which will require you to cook/buy food for 5+ people, have you considered all inclusive hotel so that you will eat and drink for free when you get there? Also, lots of hotels have kids clubs/activities so that you literally would need to spend zero once you have arrived.' Noted, holiday is booked though but maybe if I can do something about car loan I can free up money to save'
'Full review of tax is needed' - I looked at this earlier in the year and claimed medical expenses for previous 4 years. We also claimed tuition fees but for some reason when they did P21 balancing statements we ended up getting nothing, said they had been underpaid tax during those years. No idea how, wages always get dealt with through an accounts department in place of work.
'Get your husband to review his work pension arrangements, is he paying in too much/too little?. Get your husband to check his death in service benefits, it may mean you may not need additional life assurance?.' Do you know what is a normal amount to pay, is it a % of income? I will check that. Husband is looking out for new job opportunities so assume different companies have different benefits so would be reluctant to cancel life assurance based on current job if appropriate.
'Is there any option of you getting part time work, in the evening for a few hours?' I definitely want to get back into the workforce again but I'm currently pregnant and have back pain etc. After baby arrives and we get into a routine, I will definitely look at childminding option
s after school as was suggested here.
'A big issue is that your mortgage is quite a big one monthly repayments of 2100 is nearly half your salary, i would switch next year and get a better deal how many years of a mortgage do you have?? you could get nother fixed deal at 3. something percent .' Yes the mortgage is a killer, if only fixed was up earlier in 2016. Will definitely look to get better deal. We took a 35 year mortgage so about 30 years left now. We have stretched ourselves very far here I am aware.
'Be careful renegotiating deals with UPC. They won't give you anything in writing and its very easy to find yourself in a 6 month half price 12 months at full price. They generally won't give those lower prices to people renewing just new customers.' Yes it's very annoying not getting anything in writing other than bills! I asked when my contract was up after negotiating a lower 4 month rate before higher charges kicked in and it took a few mins for them to find out on the phone. If I go broadband only and get rid of tv services I'm hoping there is a decent reduction there. I know what you are saying about the low rates for new customers and changes within the year, will report back how I get on. Would like to stay with them, their broadband up until recently has been very reliable. We have had a few issues in the last 2 weeks but seems to be sorted now.
'The presents is a tough one. But as a previous poster I think present giving and parties has got out of hand. Time to come up with creative alternatives' - Yes need to look at this. Might suggest xmas presents only for nieces/nephews and get rid of bday presents. With parents, could invite them over for meals in our house for mothers/fathers day etc instead of presents.
'Start writing down everything you spend, either with pen and paper or electronically. You will be amazed when you review what is a need versus what is a want.' I am quite good at tracking what we are spending. There are certainly items that are wants i.e. takeaways and meals out being the main ones.
'Do up a budget, yearly and monthly - think about the other expenses you haven't included - home maintenance, health care (insurance if required and doctor/ dentist visits), clothes/shoes / hair cuts/ care insurance / car tax / TV license…. Following on from this each week / month you'll plan out what you're going to eat.' Will do this, thanks.
'Pay yourself first - put money in to savings at the start of the month. Don't use these at the end of month, when you've ran out of month, do without. The savings are for emergencies, or for something specific that you're saving for.' Clearing the credit card on each payday leaves that €200 a month for discretionary spending, I will put this into savings instead and try my hardest not to spend.
'Don't use your credit card unless it is for something that you had budgeted for - you refer to monthly bills recently of 500-600, this suggests there is extra spending you don't have documented.' Credit card spending has gone through the roof the last 4 months. Last month big items were tv licence @ €160, physio visits @ €110, car repairs €180. This month i will have car tax €145, hotel for wedding €150, physio €110 to clear.
'
On the presents front, see if you can negotiate a Kriss Kindle for the nieces/nephews. I would cut out most (all!) presents for adults, a home made card from children goes a long way, a home made cake, you get the jist.
Your other option - is to earn more. Mind children after school in your home, part time job in the evenings, etc.' Touched on these above thanks.
'
You are currently at around 81% Loan to Value. It's very important that you have the option to switch lenders next year, so make absolutely sure that you don't do anything which affects you ability to move.
Don't miss a car loan repayment.
Don't miss a mortgage repayment.
Don't ask to reschedule your mortgage.
It's bonkers stuff borrowing money at 12% to put on deposit at 0.5%. If you pay off your car loan, you will have the extra €106 per month.
But then you must balance this against having no cash in the event of an emergency which might cause you to miss a loan repayment.'
Thanks Brendan, yes if we can reduce mortgage it will help greatly, will ensure to not miss any payments or re-schedule mortgage as suggested. Will look at the car loan versus savings pot.
Thanks again for all replies.