It really depends on your short, medium and long term plans. My (amateur and personal) opinion is that there is a significant danger of eating into your savings to fund normal living expenses and you may be overexposed to higher risk/reward investments (e.g. the individual shares and other equity investments) than are appropriate for your current situation especially if you plan to look at buying another house in the forseeable future. Depending on your plans your priority might be maintaining the real value of your savings until such time as you can afford to take on more risk. However a lot depends on your personal attitude to risk/volatility etc.Im just unsure if we are making the best of our savings and investments with two young tots and no house to call ours
I doubt that you are getting 5% on €12K in a current account! Even Halifax who pay 10% only do so on a maximum of €2K.12,000 in my tsb current acc, I think 5 %
Are you sure about the 3.5% from the CU? Is this an interest rate or last year's dividend or something? Remember that there are higher yielding demand and term deposit accounts than this - see the Financial Best Buys lists for example.Rabo savings 5,000 at 5 %
credit union 2,000 at 3.5 %
You mean you originally invested €8K? How much is it worth now?8,000 in quinn life the bulk of it being in eurostoxx and Japan
Ditto.10,000 in a high equity yield
11,000 in 6 companies on the iseq and a 1,000 in one company on the ftse
To me this sounds a bit ominous (that if you had the money handy you might blow it) especially when you will probably be living beyond your income once your wife becomes the sole earner.when we sold the house I tried to get rid of as much money, so that I couldn't spend it and so that it was hard to get access to it
I m assuming you have nt done much staying at home all day caring (apologies if incorrect) but it s not all it's cracked up to be. It s hard work. Mothers have all the support groups and even then it can be testing work. Be careful not to put an extra strain on your new repaired relationship by trying something radically new like swapping the roles just on a whim. I also believe that the one parent at home is the ideal set up but certainly not when finances may be put under strain or one parties wish to have it a certain way. Once again apologies for posting this as i understand its the financial advice your after.
I am currently finishing of 3 jobs before I take up my stay at home dad status. these jobs are worth 8,000 take home to me
Even current accounts that pay interrest these days only do so in limited circumstances and on limited amounts. As such large sums on deposit in a current account are probably losing real value due to low/no returns and inflation.Her money is in her aib current account and your right I'm not too sure of the rates.
Sounds like you need to knock this sort of (unplanned?) expenditure on the head although you do mention above that this is the plan.Hi Bronte appreciate your post. A ps3 is a playstation 3, it cost me approx 700, I bought a canon digital slr camera 880
Do you really need two cars and a motorbike?a motor bike for 2,500 which I've yet to drive, dont want to fork out for the bike insurance yet, being the winter and all.
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My wife and I just bought two new cars out of the profits from house so won't need changing for some time.
Yes - you really need to itemise/estimate all annual expenditure and then break it down by weekly, monthly and sporadic amounts that need to be covered. If you were already living off your savings without considering such irregular expenses then you will definitely be living (probably well) beyond your income when you do!but I think what I'm learning here is that I definitely need to sit down more and think, didnt even think about clothes and stuff or medical,
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