# Need advice



## sparkle82 (6 May 2009)

Monthly income: 1550

Monthly outgoing:

Mortgage: 858
Car loan: 334
House insurance:26
Gas:20
ESB: 20
Sky: 31
Work loan: 100
Cineworld card: 20

Leaving me with a grand total of 141 euros to buy food for the month.
House is "affordable" housing through Fingal. There will be a baby in the picture soon as well! I could get rid of the Cineworld card but that's only 20 quid. Any advise on how to free up some money would be very appreciated!


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## pinkyBear (6 May 2009)

Do you ahve any savings at all? I am looking at the car loan which in addition to the mortgage is eating a huge chunck from your salary.

P..


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## Jonathan.OB (6 May 2009)

Car Loan - perhaps it's possible to restructure it by extending the term. You will pay more interest in the long run, but for now, you're cash flow situation is more important. You can always reduce the term if your financial circumstances improve down the line. 

Review your mortgage. If you don't mind me asking: 

What is the loan amount outstanding?
What is the current value of your property?
What is the interest rate on the mortgage?

Jon


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## sparkle82 (6 May 2009)

Unfortunately no. Savings went to ex along with the car when we broke up. I got the house.


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## sparkle82 (6 May 2009)

Hi Jonathon,

Loan outstanding is 147,000
Current value is 200,000
Interest rate is 5.6% fixed for 5 years and in year 2 at the mo.
Clawback to Fingal is 30%


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## pinkyBear (6 May 2009)

Apologies and I hope you dont mind me asking.. Will you be a single mum? will your ex contribute to the maintanance of the baby?

So ex has car and you are left with loan, can go to bank and restructure loan, same with work loan.. to be honest, you do not appear to have an extravagent lifestyle - but I think your loans are killing u...


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## Mpsox (6 May 2009)

1: you will get childrens allowance once the baby is born.  Worth looking to see what other social welfare entitlements you can get, eg medical card. Also are you really going to need the cinecard after the birth?

2: will the father contribute to the upkeep of the baby?


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## sparkle82 (15 May 2009)

Thanks for the advice everyone. I rang Sky and got put on to the basic pack which is €20.50. I'm in a contract with the cineworld card at the mo so I can't cancel that until I've been in it for a year, but that shouldn't be too much longer now. I rang the bank regarding the loan and was told I could stretch out the payments to 5 years. Only prob with that is I would have to pay back €187 a month for the next five years or 60 months. They are charging 12% apr. At the mo I'm paying €334 a month with 22 months left and am being charged 6.9% ( was a Tesco loan but Tesco stopped doing loans. I have to contact Ulster bank in regards to the loan as they've taken it over.) So I think I'll keep struggling with it for a while until it becomes really unbearable.

The baby's dad will help with the baby and I have applied for a medical/GP card so fingers crossed I'll get one of those.


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## Gmol (21 May 2009)

Hi there, 
You could cancel Sky and buy a Sateillite disk advertised in one of the Discount retailers for 90€. You would get all the free to air channels


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