Hire purchases and nursery fees

Sea_Shell

Ah, but can you still afford it all if your parents stop paying?? ( Which could be for reasons beyond their control!!)

kakalokia

Sea_Shell wrote: »

Ah, but can you still afford it all if your parents stop paying?? ( Which could be for reasons beyond their control!!)

Thanks for the reply.

Yes I think I can, because even if I currently add the car and nursery costs to our monthly outgoings, we can still save some amount of money that can be re-purposed to go towards a higher monthly mortgage payment. It can mean scarifying a little bit on holidays, but that's not a major thing for us.

Additionally I get annual bonus in my job that I can use for further savings.

Also there is only 2 years left on my car finance, and 1 year left on the nursery fees as the child will be 3 year old in a year time, which is when childcare becomes free for 15 hours. So the risk period is quite short.

Thanks

AnotherJoe

If you really wanted to be belt and braces, it woudl be better if dad took out a loan, paid off the car and then paid off what is now his loan.

kakalokia

AnotherJoe wrote: »

If you really wanted to be belt and braces, it woudl be better if dad took out a loan, paid off the car and then paid off what is now his loan.

Thanks, that could be one possible option to take.

Appreciate the advice.