Need help with overall financial situation

Just a thought & going back to thread No. 8, is getting rid of the car not an option....& get one for €2,500 max....

Your €20,000 car loan = 8 months of your take home pay, alot of hard work, from you. It would greatly benefit you, I would think.
 
I had a chat to my partner last night about it. He is putting it up on a few of the car websites today and I've done a sign for the window of the car. So your right I think Pope John 11. We may not get any offers, or any reasonable offers but we'll give it a shot and fingers crossed. He's been called for a second interview too for that job, salary isn't the best but because he could do that full-time and his current job part-time we would be ok again. That's fingers crossed he gets it of course, say a pray for us - you might have some sway lol
 
Just another thought Daisyduck....Should your partner become unemployed...is there an option of taking your child temporarily out of childcare for 1 year & your partner could look after him/her, include teaching etc...especially if they are only 3yrs old.

I will revise your figures based on:

This would allow your partner to collect his social welfare - €788

This would save you both on child care costs - €620

Your salary equates, as previously calculated - €2,638

As I previously suggested, sell the car, I will assume you get - €13,000

I have included food at - €200 per month, as I have not seen it included

By the way Daisyduck...excuse my ignorance when I say take your child out of childcare..unfortunately i do not have any kids at present...


Other borrowings – car loans/personal loans etc
Car loan - 560 per month - €20,000 balance ...................Car sold - Loan reduced from €560/month to - €200/month
Credit union loan 1 - 100 per week - €12,000 balance....... €433/month
Credit union loan 2 - 100 per week- €12,000 balance ........€433/month
Loan to family - 100.00 per month - €8,000 balance ........Hold
Childcare - 155.00 per week ........................................Eliminated
Life assurance - 180 per month ...................................Too high, say - €50/month
Health Insurance - 58.00 per month............................. €58/month
Sky - 22.00 per month ...............................................€22/month
Credit card - €50.00 per month - €2,100 balance ............€50/month
Heat/Electricity - €170.00 per month (average) ..............€170/month
Food.......................................................................€200/month

Total Outgoings excluding mortgage ..........................€1,616/month
Mortgage excluding TRS.............................................€1,193/month
Total Outgoings.........................................................€2,809/month

Income (assuming partner on Social Welfare)..............€3,426/month

Surplus.....................................................................€617/month

Either pay off your family with this loan for the year (€7,404), or pay half to the family & half on a 2nd hand car saved ove the year (€3,702 each)

There is also the option of leaving your child in child care.....if your family can hold off for the loan.

Hope things work out for you
 
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