C
cailindeas1
Guest
I am facing the real possibility of having difficulty in paying my mortgage in full in the coming months and i am looking for advice. I have filled out some details below and here is some background. Bought my house at top of the market was on triple the wage i am on now. Lost my dream job and ended up working 2 jobs for 2 years until i had to give up the other job due to health reasons. The small amount of savings I had from the second job are about to run out and i am living beyond my means now. I rent out a room in my house and bills are shared.
Age: 30
Annual gross income from employment or profession: 20,400k
rent a room €2,400
Type of employment: Employed Admin Staff
In general are you:
(a) spending more than you earn, or
(b) saving?
Spending more than I earn
Rough estimate of value of home: €130k
Amount outstanding on your mortgage: 205k
What interest rate are you paying? 4.95%
Other borrowings – Car Loan €1,000 (will be repaid end of Nov 2011)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €1,500
Savings and investments: None
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: None
Life insurance: yes
Out Goings:
Mortgage 835, Health Insurance 62.50, Car Loan €51 pw, House Insurance 21pm, petrol 20pw, Phone 20pm, BB 20pm Utilities 50pm, Sky 30, Life Insurance 50, Food 25pw, bins 17pm.
What specific question do you have or what issues are of concern to you?
I am concerned that i have no savings for those unexpected days. If I were to fall ill and had to take time off work I will fall into arrears immediately. I am concerned i have no pension. Really looking to see how i can reduce my costs more. I need BB for work and i am in a contract with SKY so cant get out of it.
Age: 30
Annual gross income from employment or profession: 20,400k
rent a room €2,400
Type of employment: Employed Admin Staff
In general are you:
(a) spending more than you earn, or
(b) saving?
Spending more than I earn
Rough estimate of value of home: €130k
Amount outstanding on your mortgage: 205k
What interest rate are you paying? 4.95%
Other borrowings – Car Loan €1,000 (will be repaid end of Nov 2011)
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €1,500
Savings and investments: None
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: None
Life insurance: yes
Out Goings:
Mortgage 835, Health Insurance 62.50, Car Loan €51 pw, House Insurance 21pm, petrol 20pw, Phone 20pm, BB 20pm Utilities 50pm, Sky 30, Life Insurance 50, Food 25pw, bins 17pm.
What specific question do you have or what issues are of concern to you?
I am concerned that i have no savings for those unexpected days. If I were to fall ill and had to take time off work I will fall into arrears immediately. I am concerned i have no pension. Really looking to see how i can reduce my costs more. I need BB for work and i am in a contract with SKY so cant get out of it.
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