siobhank83
Registered User
- Messages
- 9
Age: 32
Spouse’s/Partner's age: 32
Annual gross income from employment or profession: 54,000
Annual gross income of spouse: 55,000
Other income:
Inheritance due of approx 40,000 lump sum this year. Also 160,000 worth (depending on market) of foreign property at some stage in next couple years, rental income from abroad approx 800 euro per month again due when these properties transferred (plus rent collecting in account - approx 12,000 there at the minute)
Monthly take-home pay: about 5,400
Type of employment: public sector (me) private (him)
In general are you:(a) spending more than you earn, or
(b) saving
(c) spending what we earn √
Rough estimate of value of home: 290,000
Amount outstanding on your mortgage: 246,000
What interest rate are you paying? 3.75% = we pay 248 per week
Other borrowings – car loans/personal loans etc: Student loan of 87,000; I pay 275 per week
Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card?
Savings and investments: we save 250 euro per week -about to clear it all out to pay for wedding/honeymoon so will be starting from scratch again
Do you have a pension scheme? HSE plus I pay 69 euro per fortnight AVC; he pays only 100 euro per month BOI pension scheme
Do you own any investment or other property? Just inheritance as above
Ages of children: none - yet!
Monthly bills: Sky 65 euro, Health 67 euro, no travel expenses, life and house assurance 80 euro, phone 42 euro, electricity and gas about 100 per month, Spotify and Netflix (I know...) 25 euro per month, groceries approx 400 pm (Lidl all the way)
I suppose we spend about 300 per week on just 'stuff'. Socialising, clothes, etc.
Also, we are with BOI and are shelling out 50 quid a month on charges. I was thinking of switching to KBC as they have a 4% savers account attached to a current account extra (no fees)?
What specific question do you have or what issues are of concern to you?
About to get married. Have good incomes and mine goes up incrementally every 18 months by about 5,000. Would like to have kids. Student loan will not be paid off for 7 years. Would need bigger house if we have toddlers. I suspect student loan will hamper any efforts to get bigger house and we have no cash left at end of each month. Should have about 40,000 in my hand this year from Irish inheritance - to keep it in savings or to pay a chunk off the loan? Foreign property and accumulating rental income will come when the relevant court transfers deeds - can take a while - so am leaving that out of the equation. (Am under the 225k limit for inheritance tax by the way).
Can anyone see how to make our money work better for us?
I was recently refused a Tesco credit card - CRIF 3 rating of 502 on my ICB account.
Do we need income protection/illness protection/increased pension pots etc?
I should add, our aim is to have a good time and live in the now, but we need to be a bit practical I suppose.
Many thanks. Siobhan
Spouse’s/Partner's age: 32
Annual gross income from employment or profession: 54,000
Annual gross income of spouse: 55,000
Other income:
Inheritance due of approx 40,000 lump sum this year. Also 160,000 worth (depending on market) of foreign property at some stage in next couple years, rental income from abroad approx 800 euro per month again due when these properties transferred (plus rent collecting in account - approx 12,000 there at the minute)
Monthly take-home pay: about 5,400
Type of employment: public sector (me) private (him)
In general are you:(a) spending more than you earn, or
(b) saving
(c) spending what we earn √
Rough estimate of value of home: 290,000
Amount outstanding on your mortgage: 246,000
What interest rate are you paying? 3.75% = we pay 248 per week
Other borrowings – car loans/personal loans etc: Student loan of 87,000; I pay 275 per week
Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card?
Savings and investments: we save 250 euro per week -about to clear it all out to pay for wedding/honeymoon so will be starting from scratch again
Do you have a pension scheme? HSE plus I pay 69 euro per fortnight AVC; he pays only 100 euro per month BOI pension scheme
Do you own any investment or other property? Just inheritance as above
Ages of children: none - yet!
Monthly bills: Sky 65 euro, Health 67 euro, no travel expenses, life and house assurance 80 euro, phone 42 euro, electricity and gas about 100 per month, Spotify and Netflix (I know...) 25 euro per month, groceries approx 400 pm (Lidl all the way)
I suppose we spend about 300 per week on just 'stuff'. Socialising, clothes, etc.
Also, we are with BOI and are shelling out 50 quid a month on charges. I was thinking of switching to KBC as they have a 4% savers account attached to a current account extra (no fees)?
What specific question do you have or what issues are of concern to you?
About to get married. Have good incomes and mine goes up incrementally every 18 months by about 5,000. Would like to have kids. Student loan will not be paid off for 7 years. Would need bigger house if we have toddlers. I suspect student loan will hamper any efforts to get bigger house and we have no cash left at end of each month. Should have about 40,000 in my hand this year from Irish inheritance - to keep it in savings or to pay a chunk off the loan? Foreign property and accumulating rental income will come when the relevant court transfers deeds - can take a while - so am leaving that out of the equation. (Am under the 225k limit for inheritance tax by the way).
Can anyone see how to make our money work better for us?
I was recently refused a Tesco credit card - CRIF 3 rating of 502 on my ICB account.
Do we need income protection/illness protection/increased pension pots etc?
I should add, our aim is to have a good time and live in the now, but we need to be a bit practical I suppose.
Many thanks. Siobhan