Married couple ages 37/38
No children
Salary 1 - 80,000 private sector no pension
Salary 2- 70,000 public sector with pension
No credit card
Savings approx 5k
Car loan 15k -88 per week
Mortgage 1k per month- 265 remaining. CMV approx 280k
As you can see the savings situation is very weak however we now would like advice on the best way to proceed in order to improve our position.
We would like to move house and use the current property as an investment property ( currently on tracker rate +1.25%) as it would appear that this may be a better option for us than attempting to start another pension at this stage. We are in a position where we can have family assistance towards a deposit if necessary. We expect to be in a position to save 2-3k per month going forward. Looking for general advice as to the best way to proceed.
No children
Salary 1 - 80,000 private sector no pension
Salary 2- 70,000 public sector with pension
No credit card
Savings approx 5k
Car loan 15k -88 per week
Mortgage 1k per month- 265 remaining. CMV approx 280k
As you can see the savings situation is very weak however we now would like advice on the best way to proceed in order to improve our position.
We would like to move house and use the current property as an investment property ( currently on tracker rate +1.25%) as it would appear that this may be a better option for us than attempting to start another pension at this stage. We are in a position where we can have family assistance towards a deposit if necessary. We expect to be in a position to save 2-3k per month going forward. Looking for general advice as to the best way to proceed.