review household bills

Hi
I would be really grateful if you could let me know if our household gas/ Esb or similar to norm or appear high. We are reviewing our outgoings as alot of them.

Gas €157 monthly
ESB €66 monthly

We have 76,000 left to pay on mortgage and hoping to clear soon - taken out in 2005 ( overpaying monthly amount so paying €800). Original mortgage was 125,000 for 20 yrs. However we have 2 policies for mort protection/ life assurance/ critical illness
One is to BOI 71.62 - can be converted to whole of life in 2015. Cover €100,000
Other is 71.62 to eagle star. cover ? 200,000 until 2025 - when mort was due to end.

SHould we just get one that is decreasing amount or maintain what we have incase something happens us. We both have life assurance with work.

We have 2 small children 6 yrs and 3 yrs - hence why we never cancelled anything . Its just our creche/ afterschool fees are €1850 /monthly and we are just ensuring that other bills are in order as there is no flexibility with childcare.

House is 4 bed semi + conservatory.

Any advice appreciated.
K

Gas seems high enough, but then again you have the kids so you do need somewhere warm for them. ESB looks quite good actually. I share a 4 bed duplex and the electricity bill between us is about 200 every two months. Just remember to turn off whatever you're not using, every little bit helps!

For the mortgage protection, well having 2 seems a bit crazy to me to be honest. You should definitely keep one, but two just seems a bit much to me. i'm open to correction on that of course!

Thanks for the reply and advice,
Actually realised I typed Eagle star as same amount as BOI - its actually €95.20 monthly plus the BOI . Is it difficult to get one policy and then tell bank for mortgage?
K

I shouldn't think so, they only need one policy anyway

Your childcare sounds pricey.I have a 3 yo in full time and 6 yo after school in dublin city centre for €315 a week(€1400 ish a month).They pick up the after schooler from school and feed him.

Thanks for the replies. I will sort out the policies then. Re the childcare - we know its expensive but its the norm for the creches southside where we live. We did check - little difference, about €50, not worth the upheaval for the children. You are very lucky to have your rate.
K

You should really look at the childcare, that is a huge bill. Its almost a salary for someone coming into your home to mind the children, which would also take pressure off you for housework, meals etc. You could surely find a childminder or at home mother who would be willing and qualified to mind your children for less than that. I don't believe in cheap childcare for the sake of it, quality is the most important thing but that seems really over the top.

Re the insurance, assess the critical illness on its merits, this can be very helpful if one of you gets ill, if your jobs provide it (or will pay 6 months or so sick pay) then its probably not worth it.

Thanks again for the replies. I agree our childcare is our largest expense but we have no family in Ireland in case of emergencies and so chose creche facility as most reliable option for us and for children. All of the creches in the local area, that offer after school collection, charge similar amounts. There is little choice. We have phoned around over the years but as I said none are cheaper. The child minder option is cheaper, but we did not want that option. Nannies are more expensive €500 / week gross. We are just grateful that our mortgage is small and try to remain healthy!
K

kaff said:

Thanks again for the replies. I agree our childcare is our largest expense but we have no family in Ireland in case of emergencies and so chose creche facility as most reliable option for us and for children. All of the creches in the local area, that offer after school collection, charge similar amounts. There is little choice. We have phoned around over the years but as I said none are cheaper. The child minder option is cheaper, but we did not want that option. Nannies are more expensive €500 / week gross. We are just grateful that our mortgage is small and try to remain healthy!
K

Click to expand...

It's crazy .... childcare costs

I live in a small 2 up 2 down and my most recent Gas bill was about e215. I have checked the meter and it should be higher. I cannot understand how it is costing that much, so to me, yours seems fine.

As you have kids I would not just cancel the life insurance. It may be worth the premiums. I cannot tell based on the info you've provided and I'm not a critical illness/life insurance expert. Remember that as one gets older to buy new insurance can cost more particularly if one has any kind of illness.

I have 2 small children 4 and 1 and own a 4 bed semi (C 1500sq ft) and our esb and gas bills are very similar to yours. there is summer time fluctuation obviously but your bills sound about the norm for your occupancy/size of house.

Do you get a monthly or bi monthly gas bill? My gas bill is lower but I am frugal with the heat!! but my ESB is higher about €170 every 2 months.

I presume your 6yr old is in school so your creche bill is expensive enough- did you ever think of maybe an aupair- a friend of mine got one she was great you have to provide food and accomadation but it was about €90 a week plus did some babysitting.

Gas and elec don't sound too wrong. Mine for a 3 bed end of terrace :

Gas - €120+ p.m. (pretty shocked at this actually) Price increases this years were crazy, this was around €87 at the start of the year.
Elec - €72 p.m.

Thanks for the replies. At least I know our monthly gas and electric are pretty normal even if child care isn't!!
K