Hello. I’ve just been offered a job in a bank that requires security and financial checks. The role has no access to any financial systems or money. I’m a bit worried about the financial bit and wondered if anyone had any advice.
My credit score is good. I’m married and DH is a saver. I’m more of a spender because I buy most of the stuff for me/DD. We’re both mid-40s. On the face of it, finances currently look like:
Him: earns around £70k per year through his own company, has about £55k in savings but this is earmarked for a car we have ordered and his tax bill.
Joint mortgage is currently £22k which is fully offset with savings of about £28k in my name. However, I have £24k on various credit cards at 0%. I earn £60k currently and new job is offering £80k.
This came about because DH couldn’t work for a lot of lockdown, and our accountant didn’t tell us about the Covid grants our company was entitled to. So some credit card spend built up which I put on 0%. We’ve always overpaid the mortgage, which is much smaller than what would probably be expected at this time of our lives. We can take money out of the mortgage to pay off the credit cards but this would then be at 6% or 7% interest.
Plan is to overpay on the credit cards and use additional salary to build up the offset savings so that when the 0%s end we can add what’s left to the mortgage, hopefully either fully offset or at a lower % than now.
Committed to car purchase in cash to avoid 7% finance.
Is this likely to be accepted? I really want/need this job. :-/