shoppergal
Registered User
- Messages
- 172
Age: 35
Spouse’s/Partner's age: 36
Annual gross income from employment or profession: €37,500
Annual gross income of spouse:€15,206
Monthly take-home pay €3,859(including child benefit)
Type of employment: e.g. Civil Servant, self-employed
In general are you:
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home €160,000
Amount outstanding on your mortgage: €200,000
What interest rate are you paying? PTSB SVR
Other borrowings – car loans/personal loans etc- None.
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:
Do you have a pension scheme? I have a company pension that I haven’t paid into for the last 4 years. Plan is to re-join when things even out financially. Husband has no pension
Do you own any investment or other property? no
Ages of children: 2 and teenage step-son(lives with us part-time)
Life insurance: Yes, mortgage protection on mortgage, separate cover of €150,000 for husband, death in service benefit of 3 x annual salary for me.
What specific question do you have or what issues are of concern to you?
Have been in our house for 7 years, currently in negative equity. Would like to move within next 3 years to a bigger house in a different area. Plan is to save €20,000 over next 3 years with a view to buying a house for approx €200,000 and bringing whatever negative equity is left on our current house at that stage into a new mortgage. Trying to figure out if this is even feasible or if we’re clutching at straws.
Out monthly outgoings are:
Mortgage
Creche
Gas & Electricity
UPC(phone and broadband-no TV)
Netflix
bins
mortgage protection
Life insurance
Phonewatch
Health Insurance
Phone 1
Phone 2
Car Tax & Insurance/House Ins/Tolls
Gifts
Christmas
Groceries
Medical expenses
Gym
Emergency Fund
Contact Lenses
Son-therapies
Special needs trust for son
Petrol
Pocket money and school stuff for step-son
Miscellaneous spending(lunchs/nights out/coffees out etc)
House Savings
Can anyone see anything that we’re missing or that is excessive? I've deliberately given very granular detail of our spending so don't hold back
Some other background: 2 year old son has special needs and my husband is his full time carer hence his low income figure. Realistically one or other of us will need to be our sons carer for the long-term so no real potential to increase income. I don’t know how his carer status will impact on our ability to get a mortgage on a new property.
I also get a bonus of approx €3500 each year which is factored into the €20k over 3 years savings target.
Any suggestions/feedback/comments would be appreciated.
Spouse’s/Partner's age: 36
Annual gross income from employment or profession: €37,500
Annual gross income of spouse:€15,206
Monthly take-home pay €3,859(including child benefit)
Type of employment: e.g. Civil Servant, self-employed
In general are you:
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home €160,000
Amount outstanding on your mortgage: €200,000
What interest rate are you paying? PTSB SVR
Other borrowings – car loans/personal loans etc- None.
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:
Do you have a pension scheme? I have a company pension that I haven’t paid into for the last 4 years. Plan is to re-join when things even out financially. Husband has no pension
Do you own any investment or other property? no
Ages of children: 2 and teenage step-son(lives with us part-time)
Life insurance: Yes, mortgage protection on mortgage, separate cover of €150,000 for husband, death in service benefit of 3 x annual salary for me.
What specific question do you have or what issues are of concern to you?
Have been in our house for 7 years, currently in negative equity. Would like to move within next 3 years to a bigger house in a different area. Plan is to save €20,000 over next 3 years with a view to buying a house for approx €200,000 and bringing whatever negative equity is left on our current house at that stage into a new mortgage. Trying to figure out if this is even feasible or if we’re clutching at straws.
Out monthly outgoings are:
Mortgage
1012.28
295.00
180.00
44.00
7.99
24.50
23.67
20.00
35.00
73.13
10.00
40.00
240.00
40.00
40.00
360.00
160.00
80.00
100.00
22.00
150.00
82.68
240.00
80.00
160.00
350.00
Can anyone see anything that we’re missing or that is excessive? I've deliberately given very granular detail of our spending so don't hold back
Some other background: 2 year old son has special needs and my husband is his full time carer hence his low income figure. Realistically one or other of us will need to be our sons carer for the long-term so no real potential to increase income. I don’t know how his carer status will impact on our ability to get a mortgage on a new property.
I also get a bonus of approx €3500 each year which is factored into the €20k over 3 years savings target.
Any suggestions/feedback/comments would be appreciated.