# Need some budgeting advice



## cazzy (17 Sep 2007)

Hi all
Im 27 and in full time employment
Current salary is approx 35k

monthly outgoings
Mortgage  660
Car repayments 412
Credit Union loan 120
Bank of I loan     120
Bills approx         100

But i still am broke ...what am i at ????

I always had at least 300 left over on each pay day but after a quick (expensive) holiday to the US in May i keep getting stuck in my overdraft and cant get out of it 
Im thinking of taking out a small loan to cover living expenses for a month ..approx 600euro just so i can get back into my healthy 300 left over cycle again 
Is this a bad idea....I was really bad ...going food shopping nearly every day approx 50e a day ...I stopped my shopping sprees but still cant get away from that dreaded overdraft

I do want to move home to my hometown (galway) as soon as i can but dont think i can ever get a mortgage to buy a house there
How do people in cities get mortgages that big ??..i will prob be taking a mortgage on my own 
The most mortgage i could get for my current house was 150k..luckily i had purchased a site in Galway a few years back and made a profit so that went towards my current house....but how will i get a mortgage for a galway house ??


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## Diziet (17 Sep 2007)

cazzy said:


> Hi all
> Im 27 and in full time employment
> Current salary is approx 35k
> 
> ...


 
What is your takehome pay? How much do you spend on food, entertainment, etc? Have you tried keeping a spending diary for a month to really see where the money goes? Do you buy lunch every day? Coffees? Daily newspaper? These alone can add up tremendously.

You have loans that eat up almost as much as your mortgage every month. What car do you drive? How long is the loan for? Can you get rid of it and drive a banger for a while? Or go without a car at all?


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## cazzy (27 Sep 2007)

God ur reading my mind...just started a spending diary and am looking into changing cars at the minute ...
Still stuck in overdraft so cant really budget properly yet 
But im trying ....wish me luck with the diary !!
Thanks


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## Bob the slob (28 Sep 2007)

Ask your bank can they do a reducing over draft in time.  Say its €400, then next month it will be €300, next month €200, and so on.  Its a good way of clearing an overdraft you wont feel the pinch as bad.  I was gonna say get another car and sell that one.  €412 is a substantial amount of money to spend on a car but you have thought of that already.  Maybe look at taking out a top up credit union loan to get rid of that bank loan.  Just a thought.  My credit union always tell me if you find it hard come back and we will refinance the loan for you so you are paying less just over a longer period then if you have more money soemtime pay if off the loan too.  It worked for me.


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## annR (28 Sep 2007)

what is your take home pay per month?


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