# Looking for thoughts on my life



## Macers (26 Jun 2012)

Age: 30

Annual gross income from employment or profession: €42,000 (last year - not guaranteed)

Monthly take-home pay: €2,400 average

Type of employment: 2 permanent jobs

In general are you: Living pay cheque to pay cheque
(a) spending more than you earn, or 
(b) saving?

Rough estimate of value of home: €100,000
Amount outstanding on your mortgage: 
What interest rate are you paying? 

Other borrowings: 

Car Loan €14,216.96 @ 6.65% - 2.5 years remaining
Loan for apartment €3,492.19 @ 2.46% - about 2 years remaining
Credit Cars €1,000 @ 9.10%

Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €1,000

Savings and investments: None.

Do you have a pension scheme? Yes - started this month.

Do you own any investment or other property? 2 bed apartment

Ages of children: N/A

Life insurance: None

Little background to myself. 29 year old male. I have 2 jobs (which I have been doing for 5 years.) 1 is full time (8-4.30 Monday to Friday) the other is a hobby which turned into a job with a very very well known media company. Salary on 8-4.30 job is 27k plus bonus (32k total last year). Hobby job is weekend and odd weekday evening. Came out with 10k from them last year. I own a 2 bed apartment which I rent out. Parent became ill and I had to move home. Unfortunitly I cannot rent it out near the mortgage - I am adding €350 to the rent per month to make the mortgage. I pay €200 also to my parents per month to add to utilities etc. My car is worth €9,000 max. I have it for sale but no real interested parties lately.

I'm basically living pay cheque to pay cheque. Account is currently in €800 arrears (but will be covered when I get paid on Friday) but no doubt it will drop back down to (not as much as) that next pay day.

I have a monthly budget done up to see all outgoings - loans are obviously the biggest and the car loan makes me sick to look at! It's hard to clear it however as I'm living to every pay cheque. I rarely go out (once a month if max).

Just looking for an outside view on things if possible - any thoughts are extremely grateful...


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## niceoneted (26 Jun 2012)

While it is greeat you have a monthly budget done, I think what will help you a lot is if you start a spending diary. That means writing down everything you spend, be it something for 50c or 50 euro. Do this for a numebr of weeks, and then review what you are spending your money on. 
What are the repayments on the loans? Until we know exactly what they are its hard to give further advice. 
Have you big petrol expenses and what other general expenses do you have? Make lunches for yourself. Don't buy papers. Read them on line for a while. 
Cut up the credit card.


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## STEINER (26 Jun 2012)

Hi, 

if you could give a little more info, other posters can assist more.



Macers said:


> Age: 30
> 
> Annual gross income from employment or profession: €42,000 (last year - not guaranteed)
> 
> ...


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## Macers (26 Jun 2012)

Thanks for your comments...

I keep a written diary (well an app) of expenses and have been for about 4 months.

Petrol averages at €270 a month - that would be the highest of my non recurring expenses. I make my own lunches and bring them to work (only in the past month mind you after I realised how much I was spending) so hopefully will realise a change soon enough with that.

My loans are:

Car Loan [CU] - € 14,216.96 - 6.65% - Monthly: € 411.00
Apartment Loan [CU]	€ 3,492.19	2.46% - Monthly: € 200.00
Credit Card [AIB] - € 930.10 - 9.10% - Monthly: € 100.00


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## Macers (26 Jun 2012)

STEINER said:


> Hi,
> 
> if you could give a little more info, other posters can assist more.



Hi,

The loan for the apartment was to furnish it - not the mortgage.

Mortgage is €1,000 pm however rent received is €650...


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## niceoneted (26 Jun 2012)

So between, rent, top up of mortgage, petrol and loans that is 1531 Euro. Leaving 869 Euro. You should be able to get by on half this or less in the month if all your bills are taken care off in house. Aim to clear the overdraft and CC in 3 months. Set yourself mini targets like this. 
Good luck with it all.


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## WindUp (26 Jun 2012)

How much is remaining on the mortgage? 
Tracker fixed or variable? %?
Are you payning interest only?
Is selling an option?

Is the car loan a HP agreement or a loan?


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## Macers (26 Jun 2012)

How much is remaining on the mortgage? I got a mortgage 2 years ago for 200k - not 100% on remaining amount. 
Tracker fixed or variable? 35 year variable
Are you payning interest only? No
Is selling an option? I'd like to move back in at some stage but would sell if needed. Would be making a loss however.


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## annR (6 Jul 2012)

Car Loan [CU] - € 14,216.96 - 6.65% - Monthly: € 411.00
Apartment Loan [CU]	€ 3,492.19	2.46% - Monthly: € 200.00
Credit Card [AIB] - € 930.10 - 9.10% - Monthly: € 100.00

As pointed out you have about E870 per month left over.  What are you spending it on?  Anything spare you have at the end of the month should go towards the Credit card debt - that is costing you a fortune.


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## paulgalway (16 Jul 2012)

Macers said:


> I keep a written diary (well an app) of expenses and have been for about 4 months.


 
As a matter of interest, what app do you use?


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## Macers (27 Jul 2012)

paulgalway said:


> As a matter of interest, what app do you use?



Apologies for the delay in reply.

I use iXpenseIt (the paid version not the free one)


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