S
Smashed
Guest
Age: 27
Spouse’s/Partner's age: Single
Annual gross income from employment or profession: 26k plus variable shift allowances of approx 5-8k. Approx 1700 - 1900 per month. Also monthly payment in the form of One4all Gift vouchers approx 200-300 in gift vouchers. I think these can be taken in cash but their may be tax payable.
Annual gross income of spouse: -
Type of employment: Private Sector
In general are you:
(a) spending more than you earn
Rough estimate of value of home: No mortgage, fortunate to live rent free in family owned apartment.
Other borrowings – car loans/personal loans etc
Car loan 292 per month / 16k outstanding
Personal loan 351 per month / 3500 outstanding
Personal loan 180 per month / 4k outstanding
Do you pay off your full credit card balance each month? No, pay minimum at 4% per month
If not, what is the balance on your credit card? 12,500
Savings and investments:
PIP 100 per month (Balance 600.00 - balance was 6500k but used to clear credit card)
Credit Union 100 per month (Balance 1200)
Online savings account 100 per month (Balance 400 - balance was 800 but used to pay car tax and mobile phone)
Do you have a pension scheme? Yes, employer pension
Do you own any investment or other property? No assets other than car
Ages of children: No children
Life insurance: none
Other costs:
Petrol: 100 average per month
Mobile: 100 average per month
Social: 200-300, although could easily spend that amount in one night
Grocery: 120 per month
Gym: 30 per month
What specific question do you have or what issues are of concern to you?
Following a number of paycuts\ reduction in working hours I have found myself struggling to meet my outstanding loans and have any money left over at the end of the month.
I am in the very fortunate position to live rent-free in a family
owned accomodation and have no utility bills to pay other than a mobile phone and food\social life\car. I have cut back (compared to previous years) on nights out\cinema\eating out. Despite this I struggle to clear the loans.
A few weeks ago I went through my actual finances and realised I would never be able to afford my own place or even the associated costs.
I am a member of my company credit union and they have a budget plan that I considered joining but as my outgoings exceed what I earn I'm not sure if this will work.
Any advice of restructuring the loans or pointers in the right direction would be really appreciated, I've tried to give as much info as possible. Thanks in advance for any suggestions or input you may have.
Spouse’s/Partner's age: Single
Annual gross income from employment or profession: 26k plus variable shift allowances of approx 5-8k. Approx 1700 - 1900 per month. Also monthly payment in the form of One4all Gift vouchers approx 200-300 in gift vouchers. I think these can be taken in cash but their may be tax payable.
Annual gross income of spouse: -
Type of employment: Private Sector
In general are you:
(a) spending more than you earn
Rough estimate of value of home: No mortgage, fortunate to live rent free in family owned apartment.
Other borrowings – car loans/personal loans etc
Car loan 292 per month / 16k outstanding
Personal loan 351 per month / 3500 outstanding
Personal loan 180 per month / 4k outstanding
Do you pay off your full credit card balance each month? No, pay minimum at 4% per month
If not, what is the balance on your credit card? 12,500
Savings and investments:
PIP 100 per month (Balance 600.00 - balance was 6500k but used to clear credit card)
Credit Union 100 per month (Balance 1200)
Online savings account 100 per month (Balance 400 - balance was 800 but used to pay car tax and mobile phone)
Do you have a pension scheme? Yes, employer pension
Do you own any investment or other property? No assets other than car
Ages of children: No children
Life insurance: none
Other costs:
Petrol: 100 average per month
Mobile: 100 average per month
Social: 200-300, although could easily spend that amount in one night
Grocery: 120 per month
Gym: 30 per month
What specific question do you have or what issues are of concern to you?
Following a number of paycuts\ reduction in working hours I have found myself struggling to meet my outstanding loans and have any money left over at the end of the month.
I am in the very fortunate position to live rent-free in a family
owned accomodation and have no utility bills to pay other than a mobile phone and food\social life\car. I have cut back (compared to previous years) on nights out\cinema\eating out. Despite this I struggle to clear the loans.
A few weeks ago I went through my actual finances and realised I would never be able to afford my own place or even the associated costs.
I am a member of my company credit union and they have a budget plan that I considered joining but as my outgoings exceed what I earn I'm not sure if this will work.
Any advice of restructuring the loans or pointers in the right direction would be really appreciated, I've tried to give as much info as possible. Thanks in advance for any suggestions or input you may have.