Would you get a loan for this?

[Moanaorviana]

It would be 5 grand, €90 per month over 7 years

The money would be to do up the garden-fences, grass etc, plus some on the kitchen. We would also use a little over July & August as I start a new job in September and need a stop gap. The rest would be on a treat holiday to Disney Paris (we’ve had a traumatic year) and a little on Dds birthday
The money spent on the gardens would make a huge difference if we ever wanted to sell, plus tne little bits in the kitchen

Would you do this?

you can have fantastic holidays by getting vouchers from (awful) newspapers .. it costs next to nothing and you can have a great time. you don't need to pay disney and get in debt.
paint your fences or find someone to do a cheap makeover.
treat yourself by saving up and making picnics and doing cheap things. cheap doesn't mean rubbish, you can do and have a lovely time without spending a lot of money. ditto garden makeoevers.

No, most people, if they're in anyway sensible, live within their means and don't take out long term loans for non essentials and frivolous reasons. The washing machine is the only urgent, essential item you've mentioned, you'd be mad to take out that loan for the reasons you've mentioned.

If you think 90 is a low amount to pay back then why haven't you been saving that amount, the fact you don't have the savings to buy a washing machine is worrying. What you should do is go over all income and make sure you're saving each month for essentials such as car expenses, house repairs, household items that might need replacing, and then also save for fun things like holidays.

The fact you haven't even started in your new job yet makes the whole idea even worse.

No I would not get a loan for those things. If you do not have other debt and relatively low outgoings then surely you have scope to save for them in priority order? If you have not even started your new job yet it is extremely unwise to take on a debt commitment until you are past your probation. It sounds like you have had a lean year presumably over maternity leave and now want to splurge. That would not be sensible. I would start by trying to save all your salary if you have been managing just on your DHs wage then you will soon have the money for these things.

I don’t think borrowing is bad at all . But such a small amount over 7 years doesn’t seem proportionate . A lot happens in 7 years you don’t want to be paying off the grass in 2032 . I get the holiday and making memories so I would do that if it was me but put on a zero % card and pay off quickly as you can, make it affordable as possible so prep lunches and cheap hotels etc so kids can have souvenirs . Don’t go blow out as the memories for the kids are the same . If your mortgage is low then maybe you can make cut backs in other areas to free up more money .

If you can do 90 easily... I'd make a concerted effort and save €150/€160

In 2 months you could afford a decent washing machine (Samsung or similar) outright.

Then start saving for your holiday again 150-200 pm or more and go next year.
Id mayyyybe put it on a zero percent card if id save about half and knew id pay it back with no interest.

The garden i honestly wouldnt bother with. We spent 5k on decking 2 years ago it looks 5 years old now... v depressing

There is just no way €5k is doing disneyland from Ireland, your garden and a washing machine and and and...

You'll also be paying it back for 7 years or so... just nuts

Not over 7 years! I’ve done a 10k over 2 years and cleared early (car), another 10k recently over 2 years, combined interest was around £800, you need to shop around for interest rates, also try and save a third if you can

Only do it if you can pay it off in 2-3 years, 7 years is an insanely long loan term, you will regret that. We had to take out a loan to finish our building works as they ran over budget due to hidden problems from previous owner and paid it off over 2 years, just made the last payment this month. It’s been really tough financially, we had to live like monks, but we are now debt free and didn’t pay as much interest.

So your impatient but what happens if your new job doesn't work out. There is a reason so many have real debt issues and your in danger of adding to the numbers

You can get a washing machine on six months interest free at Argos OP.

Nope. I wouldnt. Apart from mortgage i refuse to pay interest to a bank. I'd be worried about emergencies over the next 7 years when i would genuinely need that money.

For the garden I might as that’s a longer term investment, though would try to save up the repayment amount for a while to make sure they wouldn’t be crippling. Also, probably wouldn’t if intending to sell as very unlikely to get back what you invest.

Definitely not for the holiday or birthday. Those are not things to go into debt over - that sort of lifestyle is the way to a lifetime of financial struggle.

Can you get a second hand washing machine from facebook marketplace or similar?

i would not borrow for disney and birthdays, etc no way artificial grass will increase house value either. why don’t you look into native plantings if your region is too hot for a lawn?

All of the things you are wanting to spend on (replacement washing machine, garden repairs and maintenance, a holiday etc) - these are all things that should be budgeted for and met from your day to day income. Why get yourself into debt for 7 years for a washing machine!! Just save up!

If you can’t afford a washing machine tomorrow then the first thing you need to create is an emergency pot of €500-1000 for just that type of expense (car repairs, boiler, burst pipe…).

Maternity leave has dried up your savings so maybe you’re excited and jumping the gun about how much more you’ll be earning. Travel, new wardrobe (?) and childcare can be expensive. Wait and see for the things on your list.

Gardening material doesn’t need to be expensive. You could probably rig up one of those “sail” awnings this summer and make a play area or paved dining space (outside kitchen!) that will withstand the sun.

Go to Disney when DC is 6-9. They’ll remember it more.

Exactly, the fact you're not able to meet these expenses from your day to day income and want a loan to pay for them indicates you're not very well off or you're very bad at budgeting. Or maybe a combination of both. The things you want a loan for are things you need to budget and save for. It would be a terrible idea for you to take on debt for unnecessary stuff, especially for such a long length of time. You should start saving asap to have an emergency fund for unexpected bills such as a new washing machine or to pay a plumbing or electrical bill or the car needing repairs, for example.

If your September job falls through for some reason, then how will you save for emergencies and essential bills and pay off a loan at the same time, since you haven't been successful in saving so far?

Since your dd is 6/7 years old now, you have plenty of time to save up and take her to Paris when she's 9 /10. At age 9/10, she'll still be young enough to really enjoy the Disney experience but old enough to always remember her Paris visit.

Washing machine - can you get 0% for 6 months or so on AO or similar?

pay for a repair

or get a second hand one?

7 years to pay off a washingmachine is nuts, you’d probably need a new one before it’s paid off.

Garden - maybe try and save half? Cos what will it look like in 7 years? And you’d have paid 50% more in goods (product + interest).

Disney - 0% CC over a year (in advance of hol) wouldn’t bother me. Paying for a holiday after I’d got back would, esp if I was paying more (interest).

Then also paying for 2 months of general life?

Your Plan is one of the worst ways to use credit.

This is something to definitely consider before buying artificial grass. It can get very hot so you can't walk barefoot on it in hot weather and pets could also burn their paws.

Another consideration, if you have dogs that use the garden, is the horrible stench of dog pee in fake grass. It's hard to wash the smell out without using lots of water and disinfectant, even then a lingering smell remains ( a colleague had fake grass and got rid of it for this reason, the smell was terrible in hot weather). As you live in a hot country OP, the smell would be particularly bad, and if you have nearby neighbours they might complain!
Do lots of research before making a decision about artificial grass.

That’s an insane amount of interest.

She's not in the uk