Westsider79
Registered User
- Messages
- 15
Askaboutmoney.com - the
Personal details
Age:43
Spouse’s/Partner's age:44
Number and age of children: Two 12 and 10
Income and expenditure
Annual gross income from employment or profession: 70500
Annual gross income of spouse:50000
Also have an annual income from rent a room scheme of approx 7000
All childrens allowance goes straight into post office saving...have dipped into this over years for car payments and orthodontist treatment
Monthly take-home pay Me: 1742 per fortnight, spouse 750 per wek
Type of employment: e.g. Civil Servant, self-employed: Me Civil Servant, spouse: private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Summary of Assets and Liabilities
Family home worth €540k with a €240k mortgage
Savings of about €4000 in post office savings
Zurich investment account pay 215 per month into this: balance of around €11000
Rainy day fund in easy access savings €1000-would like to increase this though
Credit union savings(holiday savings) around €3500; currently planning on putting €1500 per month into this for some bigger foreign trips this year
Pension: Civil service pension will have full contributions by 63/64
Spouse has private pension current pot around €50000 I think
Family home mortgage information
Lender PTSB
Interest rate 2.9%
If fixed, what is the term remaining of the fixed rate? 18 months remaining on fixed
(No need to tell us the monthly repayments or what term is left)Other borrowings – car loans/personal loans etc
Credit union loan- 5.9% Interest around 13,000 left paying 435 per month
Do you pay off your full credit card balance each month? fully every month
If not, what is the balance on your credit card?
Buy to let properties
Value:0
Rental income per year:0
Rough annual expenses other than mortgage ininterest0
Lender
Interest rate
If fixed, what is the term remaining of the fixed rate?
Other savings and investments:
Do you have a pension scheme?
Do you own any investment or other property?
Other information which might be relevant
Life insurance: basic mortgage protection. Both myself and spouse have income protection
What specific question do you have or what issues are of concern to you?
I have been recently promoted and my salary increased by around 20k due to promotion and going back full-time. We now have surplus funds every month and whilst we are treating family to a big holiday I'd like to make sure we are being smart with our money to and future proofing overselves enough. All advice welcome.