S
Switzwo
Guest
Age:28
Spouse’s/Partner's age: 30
Annual gross income from employment or profession: 51,000 Public Sector
Annual gross income of spouse:55,000 Self Employed
Type of employment: e.g. Civil Servant, self-employed
In general are you spending more than you earn or are you saving? Spending
Rough estimate of value of home: 430k
Amount outstanding on your mortgage: 300k
What interest rate are you paying? 4.9% Tracker
Other borrowings – car loans/personal loans etc - Car Loan 317 per month and finishes in July 2009. Credit Union Loan 3,200 left.
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2,300
Savings and investments:7,000 in credit union
Do you have a pension scheme? Yes through work
Do you own any investment or other property? No
Ages of children: None
What specific question do you have or what issues are of concern to you?
We would like to start a family shortly but I am concerned with our spending habits. Having looked at our bills and mortgage which go out of my account we are left with approx. 500 a month from my money which we seem to have been dipping in to quite a bit for one thing or another like weddings and birthdays etc.
I am concerned that when we have a child money will be very tight, I believe creches are approx. 900 per month which means using our living money to pay for childcare. Should I set up a direct debit from my salary to the credit union and include some savings? I would have thought that we were earning fairly good wages but we don't save much which worries me.
We are trying to pay off credit card as quickly as possible so money left at end of July will go to that. We still have a few bits and pieces to do in our house which are going to get done as we can afford it. Now that I have started writing this I'm not 100% per cent sure what I am looking for but I would value some opinions on how we might proceed from here. Sorry for rambling but if anyone has comments I would appreciate it.
Spouse’s/Partner's age: 30
Annual gross income from employment or profession: 51,000 Public Sector
Annual gross income of spouse:55,000 Self Employed
Type of employment: e.g. Civil Servant, self-employed
In general are you spending more than you earn or are you saving? Spending
Rough estimate of value of home: 430k
Amount outstanding on your mortgage: 300k
What interest rate are you paying? 4.9% Tracker
Other borrowings – car loans/personal loans etc - Car Loan 317 per month and finishes in July 2009. Credit Union Loan 3,200 left.
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2,300
Savings and investments:7,000 in credit union
Do you have a pension scheme? Yes through work
Do you own any investment or other property? No
Ages of children: None
What specific question do you have or what issues are of concern to you?
We would like to start a family shortly but I am concerned with our spending habits. Having looked at our bills and mortgage which go out of my account we are left with approx. 500 a month from my money which we seem to have been dipping in to quite a bit for one thing or another like weddings and birthdays etc.
I am concerned that when we have a child money will be very tight, I believe creches are approx. 900 per month which means using our living money to pay for childcare. Should I set up a direct debit from my salary to the credit union and include some savings? I would have thought that we were earning fairly good wages but we don't save much which worries me.
We are trying to pay off credit card as quickly as possible so money left at end of July will go to that. We still have a few bits and pieces to do in our house which are going to get done as we can afford it. Now that I have started writing this I'm not 100% per cent sure what I am looking for but I would value some opinions on how we might proceed from here. Sorry for rambling but if anyone has comments I would appreciate it.