drowning in debt 2 incomes, 2 children

Life assurance - as they're tied to 2 mortgages and based on our ages a few years ago I'm fairly sure it would be more expensive to move.

Don't be sure until you check it out. I'd be surprised if it were impossible to find a better deal. I have got good deals through brokers - call Aaran insurances in Harolds Cross and Goggins (also in South Dublin, can't remember where). They can also sometimes do a good deal if you have all your insurance products with them (car, house, mortgage protection)

Agree with the others on the gas - cheap curtains and poles (or free from Jumble Town), wooly sleep suits and blankets for the kids. It is roasting at the minute, haven't switched on my heating yet this autumn and we have no curtains either in our kids room (got as far as blinds to block out the light and ran out of money .... although we do have curtain poles up!)
 
Childcare is huge.

OK heres a suggestion, get an au pair for a year, approx €600 a month instead of the €1675 you now pay. difference €1075pm.

Benifits,
Help around the house with housework.
A couple of nights babysitting per week.
Company in the house for both the children and you and your husband.
More free time for GYM
Cash to clear debts, 1 year €12900


Negatives
You do have to give up some privacy
transport for the au pair depending on your location.
Is it suitable for your kids considering your kids ages, imo it often works best when the kids are school going as it also allows the au pair a lot of free time
 
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Have you thought about employing an Au Pair, instead of childcare. Their salary is a lot less and most have to do daily chores around the house. A friend of main gets them on 6 month contracts and she swears by them, both for her and her children. Check out Au Pairs Ireland for details.
 


Au pairs can only work a max of 20 hours a week - they are therefore only really suitable for school age kids who need minding for a few hours in the afternoon. OP says she has pre-school costs so her kids are obviously very small. As a parent of smallies, I'd also be pretty reluctant to leave under 5's all day long with an inexperienced teenager without much English, which is what Au Pair's are in general, even if I could come to an under-the-table agreement with them to work longer hours.
 
slightly off the topic but still referring to the last two posts ( was quicker):

If you browse around (Au Pair Agencies) - "The Duties of an Au Pair: An Au Pair works six hours a day, five days a week, usually with weekends free.
He/she will look after your children and do light housework related to the children
(i.e., take the children to school, to the park, prepare the children’s meals, change
the children’s nappies, clean the children’s room and play with them.
In addition to the 30 hours a week the Au Pair would baby-sit once or twice a week
at night if the parents want to go out."

Just to clear this up in case you would like to go down that route. It's definitely a great way to save money oppose to Creches but it doesn't bring a free/ cheap housekeeper! Plus there are advantages with Creches/ Pre-Schools too so shopping around and comparing is the main thing right now.
 
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Mortgage = 630 (interest only for now)
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House value = 250k, mortgage 195k
Apartment value = 200k (prob optimistic guesstimate), mortgage 235k, interest only, repayments = 555pm & rent = 820pm (also owe mgmt company e2500 can't pay as excess going on mortgage arrears)
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Two properties and only paying interest only on the mortgages. This is too risky in my opinion, particularly as you've no margin for error in your finances. If your valuations are correct, you could sell both and walk away roughly even or a small profit. This is something you need to seriously think about.
 
You should definitely sell your main property and use the remainder to pay off your debts.
 

It's illegal for a lender to cause you this kind of hassle.

quinn healthcare = 170pm for all 4 (needed at the moment )
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With Quinn healthcare people on the same policy can have different levels of cover.
 
demoivre said:
It's illegal for a lender to cause you this kind of hassle.



With Quinn healthcare people on the same policy can have different levels of cover.
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Great post. Credit card providers regularly fall foul of Subsection 1 (a).

Perhaps that's one of the reasons they call from "private numbers"? Who should one report the credit card providers to?
 
HI thanks for all the replies !

Just very quickly I think the income gap is from in my original budget I included about e200 per week for food/groceries - reality was we ended up needing about that much for various doctor's trips (e55 a pop plus antibiotics) - the kids had a bad run for a few months.

The profit from mortgage income is going on arrears for the apartment mortgage - about e1300 left (e290 per month) - when they're cleared we might have a bit more to clear arrears.

ESB - changed over last night thanks for the tips !

GYm - great idea to just buy a bike might do that as we do need one (when I have the cash)

Au pair - would love one but no room at all (3 bed semi totally full)

Childcare- it's 75 per day for 2 children - long hours so it's not that expensive all things considered & a further 75pm for montessori.

Night heat - I know I know I'll have to try !

Vodafone etc - I need to get on this asap but also as I never go out anymore I'm a bit of a text fiend as it's the only way I keep in contact with some friends who are in similar positions (no cash no time)

VHI dental - I don't know why it's so expensive - thought I was getting a good plan

Med1 - yes claimed everything due for those years - all gone !

Car - get the bus to work as have no parking space - need the car to see elderly grandparents - no option.

Thanks for all the replies - food for thought.
 
Just re being a text fiend would you and your friends consider going on same network? I am on meteor. I buy €20 credit per month and text and ring all other people on meteor network for free.
 
Did you check how much you have saved to date in prize bonds that you can redeem ?

If you have been saving €13 per month for a few years it may help to clear some of the smaller CC debts.

EDIT
Do you really need to have the VHI dental plan for the next couple of years? Would it be feasible to drop the dental plan for the next two years?

Not sure if its still the case but you used to get a higher discount if you had your electricity and gas with bord gas and paid both by direct debit.
 
Vodafone give you 600 txts a month for free from the website.

It is actually much easier and quicker to type a txt on the computer too.
 
put the kids to bed with an extra blanket and a hot water bottle and save on gas
 
BazFitz said:
That suggestion is neither helpful nor funny.

You should be ashamed of yourself.
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I see nothing wrong with it. What is your problem with that statement. It's what I do, and I have no need to be saving money at the moment.
 
It's up there with "if you're cold, turn off the heat and wear two jumpers".

Unhelpful, patronising, condescending and ridiculous.
 
I am on a good income but yet would put on an extra jumper/fleece and throw a fleece blanket over me to keep me warm rather than turn up heat. I tend to have heat on longer at a lower temp. It keeps the chill out of house. Having too much heat is not good for you imo.
 
fraggle said:
I see nothing wrong with it.
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I dont see anything wrong with it either. When I was growing up we didnt have central heating, we had a coal fire going in the sitting room and the kitchen would be warm from cooking. The rest of the house was not heated. The bedrooms were freezing in winter and we went to bed in PJs, socks, a hat and brought a hot water bottle. I have fond memories of the bedclothes being so heavy mid winter that it was hard to turn over!!
 
BazFitz said:
It's up there with "if you're cold, turn off the heat and wear two jumpers".

Unhelpful, patronising, condescending and ridiculous.
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It's really not - it's a very practical suggestion. I'm with other posters - if it's cold, I throw a blanket over the duvet. It would never occur to me to have the heating on through the night. OP - if the night heat is on just because of lack of curtains, you will have saved yourself the cost after a few months if you invest in curtains - and they don't have to be expensive - or even attractive! I'm sure you could get some curtains and a pole fairly cheaply if you are not fussy about what they look like.
 
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