No Disposable Income

What are the two in third level doing to support themselves?

Thats 70k gross between you?

Is there a reason why yor wife can't work full time? It would ease the pressure.

It's less straightforward than that from the CSO stats I looked at. Many start to get well off before that age group. I am usually suspicious of statements about the Vast Majority. One thing which will certainly help the OP is when the mortgage is paid off.

And?

And. There is a big differ between 70k net and gross.

They will look after you when the time comes.

You are not a fool you have done right by your kids and paid your way.

Just one thing you should check out the details of the Fair Deal and arrange your affairs accordingly.

Your house won't necessarily have to be sold but if you have cash savings they will be taken above the threshold.

I did it. Good idea for them to do I think.

It really depends on the course.

anyway op I hear you. I feel like a hamster on a wheel at times.

Apologies op. I got sise tracked.

It does get easier. I do believe the elder kids should get a job though. Fun money for them and it'll definitely stand to them in future.

Its pretty bad when people on 70k are struggling! Imagine how people on 40, 35 & 25K are coping, they still have to pay 60euro to speak to a doctor if they get sick, pay their mortgages, cars & pay for their kids. You're in the high earner bracket and get as much supports from the government as someone on 30k & the student grants are nothing to write home about, they don't even cover the basics.

If you've been voting FF & FG maybe think about this come the next election & imagine how the nurses, sna's, childcare workers, retail staff & service industry staff are coping with day to day living, who have also saved their whole lives & worked hard but with nothing to show for it.

If you're middle aged & struggling on a high wage, imagine what it's like for working adults in their 20's & 30's who don't have financial supports from their parents, imagine how hard it is for them to just get on their feet & live like autonomous adults out of their parents homes or having all their hard earned money eaten up by rent & bills, despite being highly educated in many cases & unlike you they won't have the chance to save all their lives because every cent they earn is taken back off them through high costs, taxes, rents, insurance, healthcare & mortgages.

Sounds like you're doing a good job. Families go through droughts, famines, windfalls & times of affluence! It will pass.

Where on earth are you getting the idea that a couple on 70k is a high earner? Even a single on that wage isn't.

Bit on Prime Time now about Holly Cairns' comments about this generation being the first that is worse off than their parents, some lad is saying we're actually 80% better off, even including housing. I'd love to know where he's getting those figures, or how they're calculated

My 2nd year in engineering was 47 hours a week. Bit of a lie as two hors were extra curricular German lessons.

Yeah it sucks man, that's inflation for you. Your money buys less stuff

Even looking at the grocery bill for us, it's now in triple digits every week whereas 18 months ago we'd normally get away with €80-90 per week. And that's an Aldi shop, hardly high street groceries

I would recommend taking a long hard look at all your outgoings and see if there's ways to save money

Shop around for your electricity and oil

Car insurance companies often punish loyal customers, so it's generally cheaper to go in as a new customer, even with the same company

Can you save any money by switching mortgages? Or is it possible to make an overpayment?

Are you paying for any subscriptions like Sky, Netflix or Spotify that could be gotten rid of?

They often might not seem to save a lot but when it adds up it could be the difference between positive and negative income every month

I know it might mean giving up more luxuries but it'll at least mean you're focusing on the ones that really matter

And I'm afraid to say that 50k isn't a big income in today's world. I don't mean to sound harsh, I was in that bracket too and I was getting frustrated that all my money seemed to be disappearing every month with nothing left to enjoy life

I was lucky that I moved to a higher income role and that's helped a lot. It might be worth your while looking around, it's a big step but sometimes you have to be a bit of a mercenary

I don't really believe the expenses on the kids is going to suddenly disappear when they finish their studies. They should be out earning money which will make things easier, but realistically I don't see how graduates these days can rent and have any hope of buying a house

So in all likelihood they'll be living with ye for years to come and hopefully saving their deposits for a house. They might contribute to the bills but it'll probably still cost you a bit (especially if you want them to save up)

You can't get a medical card unless youre on the dole or working & earning less than the dole, that's about 10 - 12k a year. So no, someone on 25 - 40K isn't entitled to a medical or GP card!