Age: 34
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: approx €48000
Type of employment: PAYE
In general are you:
(a) spending more than you earn, or
(b) saving?
Neither- not accumalating debt but no savings either
Rough estimate of value of home: Not really sure now - recently bought for €205k
Amount outstanding on your mortgage: €186,000
What interest rate are you paying? 2.55% until Apr 10
Other borrowings – Loan at €200pm
Do you pay off your full credit card balance each month? N?A
If not, what is the balance on your credit card?
Savings and investments: None
Do you have a pension scheme? Yes
Do you own any investment or other property? No
Ages of children: No
Life insurance: €83pm
Other outgoings - not yet sure how my bills will work out as I have only moved in but my ESB is currently at €17pm on monthly equaliser. Still waiting on first Gas bill. Mobile approx €70pm. Budgeting €200pm for bills and grocery shopping at present.
So a month looks like this:
In: €2860 approx (sometimes a little more, sometimes a little less, but not much. Pension and VHI paid)
Out: €718 Mortgage
€83 Life Ins
€200 Loan
€200 bills etc
This leaves me with a balance of €1659pm
What specific question do you have or what issues are of concern to you?
I have recently purchased a property and have now no savings. I want to build them back up. I plan to transfer approx €200pm into an account (but what type) to cover annual bills such a management fees, TV license, holidays (my only real indulgence), GP's etc. I also want to save another €500pm.
Basically i am wondering what is the best way to save these - ideally i do not want too easy access to the savings.
I feel I am finally in a decent financial situation and feeling comfortable enough, so i want to make the most of that and not flitter it away as i might have done in the past.
The one fly in the ointment is the loan, which is a car finance on a vechicle that i was not in possession of. Ex had it, but the finance is in my name. The payments of over €300 pm had been causing me difficulties (much higher outgoings when renting) so I surrendered the car - not yet sure of the balance remaining (maybe €5-6k) but hope to negotiate repayments at €200pm. I wonder should I put off saving and throw all the money off the loan - my reluctance to do this is probably misguided hope that he will one day actually make a payment (I have paid it all for 2.5 years).
I guess I just want to make sure i am making the best choices at this point so any help or insight much appreciated.
Thanks
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: approx €48000
Type of employment: PAYE
In general are you:
(a) spending more than you earn, or
(b) saving?
Neither- not accumalating debt but no savings either
Rough estimate of value of home: Not really sure now - recently bought for €205k
Amount outstanding on your mortgage: €186,000
What interest rate are you paying? 2.55% until Apr 10
Other borrowings – Loan at €200pm
Do you pay off your full credit card balance each month? N?A
If not, what is the balance on your credit card?
Savings and investments: None
Do you have a pension scheme? Yes
Do you own any investment or other property? No
Ages of children: No
Life insurance: €83pm
Other outgoings - not yet sure how my bills will work out as I have only moved in but my ESB is currently at €17pm on monthly equaliser. Still waiting on first Gas bill. Mobile approx €70pm. Budgeting €200pm for bills and grocery shopping at present.
So a month looks like this:
In: €2860 approx (sometimes a little more, sometimes a little less, but not much. Pension and VHI paid)
Out: €718 Mortgage
€83 Life Ins
€200 Loan
€200 bills etc
This leaves me with a balance of €1659pm
What specific question do you have or what issues are of concern to you?
I have recently purchased a property and have now no savings. I want to build them back up. I plan to transfer approx €200pm into an account (but what type) to cover annual bills such a management fees, TV license, holidays (my only real indulgence), GP's etc. I also want to save another €500pm.
Basically i am wondering what is the best way to save these - ideally i do not want too easy access to the savings.
I feel I am finally in a decent financial situation and feeling comfortable enough, so i want to make the most of that and not flitter it away as i might have done in the past.
The one fly in the ointment is the loan, which is a car finance on a vechicle that i was not in possession of. Ex had it, but the finance is in my name. The payments of over €300 pm had been causing me difficulties (much higher outgoings when renting) so I surrendered the car - not yet sure of the balance remaining (maybe €5-6k) but hope to negotiate repayments at €200pm. I wonder should I put off saving and throw all the money off the loan - my reluctance to do this is probably misguided hope that he will one day actually make a payment (I have paid it all for 2.5 years).
I guess I just want to make sure i am making the best choices at this point so any help or insight much appreciated.
Thanks