M
Moving_girl
Guest
Hi. I wasn't sure where to post this but here goes.
I have an apartment that I bought in 2001 & am currently renting. Mortgage is 812/month & I get 700/month rent. I earn approx. €3,400/month and the rental income goes towards the mortgage. I moved out last year to move into my boyfriend's house but things are not working out & I need to find a new place.
To complicate matters, I have a cat so can't move back to my apartment as it's a no pets building (and don't want to as it's rented & almost covers the mortgage) & need a place with a garden/patio/terrace. So I'll be paying quite a bit more for rent than I'd like to.
So, here is my dilemma. My boyfriend owes me €10k (which he has now put in our joint account) from some things I bought for the house. It was intended to be a long-term move but it hasn't worked out - but I am trying to at least get my finances in order even if everything else is a shambles.
I currently have €6,500 outstanding on a loan - 15 payments left.
I also have about €5k in credit card debt.
However, as I used all my savings to put into the house I have no savings so not sure if I want to use the €10k to pay off all my debts.
My loan is currently €447 a month so thinking I should clear that which gives me €447 more to put towards renting a new place. Then I was thinking of putting the remainder of the €10k into a long-term savings account to give myself some security & in time I'd hope to buy myself a new place. My credit card obviously has a higher APR but if I pay off the credit card then I'll still have the €447 a month & at least I can pay off my credit card bit by bit......
By the way I am currently paying €1000/month into our joint a/c towards the mortgage, bills & food at home. So, if I rent a place for €1200/month (which is all I am finding) I won't be dramatically worse off.
Thanks in advance for your help. A hard time but getting this clear will help.
I have an apartment that I bought in 2001 & am currently renting. Mortgage is 812/month & I get 700/month rent. I earn approx. €3,400/month and the rental income goes towards the mortgage. I moved out last year to move into my boyfriend's house but things are not working out & I need to find a new place.
To complicate matters, I have a cat so can't move back to my apartment as it's a no pets building (and don't want to as it's rented & almost covers the mortgage) & need a place with a garden/patio/terrace. So I'll be paying quite a bit more for rent than I'd like to.
So, here is my dilemma. My boyfriend owes me €10k (which he has now put in our joint account) from some things I bought for the house. It was intended to be a long-term move but it hasn't worked out - but I am trying to at least get my finances in order even if everything else is a shambles.
I currently have €6,500 outstanding on a loan - 15 payments left.
I also have about €5k in credit card debt.
However, as I used all my savings to put into the house I have no savings so not sure if I want to use the €10k to pay off all my debts.
My loan is currently €447 a month so thinking I should clear that which gives me €447 more to put towards renting a new place. Then I was thinking of putting the remainder of the €10k into a long-term savings account to give myself some security & in time I'd hope to buy myself a new place. My credit card obviously has a higher APR but if I pay off the credit card then I'll still have the €447 a month & at least I can pay off my credit card bit by bit......
By the way I am currently paying €1000/month into our joint a/c towards the mortgage, bills & food at home. So, if I rent a place for €1200/month (which is all I am finding) I won't be dramatically worse off.
Thanks in advance for your help. A hard time but getting this clear will help.