A
that's a lot for a Creche. Did you "shop" around? My dd is in a perfectly fine Creche for far less money. Also if you have two, a childminder might come "cheaper".Ages of children:
3 and 1.5 , creche fees are 1500 a month
what type of property is it?the rental property we are getting 750 euro pm
Ideally i would like to get rid of the rental property which we are losing money on and is a headache with two small kids in the house having to go over and do repairs etc..
Are you living in Dublin?
that's a lot for a Creche. Did you "shop" around? My dd is in a perfectly fine Creche for far less money. Also if you have two, a childminder might come "cheaper".
what type of property is it?
At the minute, for mortgage interest and creche fees you are paying approx €4k a month.
without knowing your exact tax affairs, I'd estimate you are taking home around €5k a month after tax and between rental income and childrens allowance, around another €1k.
Therefore the question is, what are you spending €2k a month on, after you've paid your mortgage?
As another poster suggested, you should look at what else you are spending money on, and see how you reduce it. Even after the increase in mortgage once you come off interest only, you've still got ballpark €800 a month to live on. Also take a long hard look at your tax affairs and make sure they are in order. Are you claiming for things like bin tax, health expenses etc etc.
As stated in above post of my 75000, 14000 is paid as a lump sum yearly bonus so actual salary is more in the region of 60k
The take home figure still seems a bit low to me - are you paying VHI, pension, AVCs etc out of that before you get the take home figure?
Your petrol costs seem very high too as do gas/esb and bins - are you using anything heavy duty on the gas/esb? Do you ensure to use things like the washing machine and other appliances on non peak hours?
The rent you are charging seems low for a 4 bed detached house also?
Whats the 300 on car if this excludes car tax and insurance and petrol? Is it a car loan? If so could you downgrade your car?
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