Over the past few years – many households in Ireland will have seen falls in their disposable income as well as rising household bills. Some small tax cuts in Budget 2018 have resulted in a little extra money in some people’s pay packets (but only around €3 a week for average earners.) . Welfare claimants and pensioners have also seen a €5 a week increase from March 2018.
Here at Money Guide Ireland we aim to help you even more with some useful tips on reducing your bills and saving money in 2018.
By following just 3 or 4 of these tips, an average household should be able to cut their bills by as much as €1000 in just one year.
Here are our Top Money Saving Tips for 2018
- Switch Energy Supplier
If you are are an average electricity and gas user, still on the old “ESB” and Bord Gais standard rates you could easily save around €480 in one year by switching supplier . See our Energy Price Comparison
Switch Broadband and Phone –You could save around €250 in one year by switching your landline and broadband – see more here about the cheapest broadband
- Switch Your Current Account : – Most banks charge you for having a current account with them. There are still some ways to reduce or even avoid these bank charges . In our example we found that savings of as much as €200 a year could be made – read more here Free Banking in Ireland
- Save Money when shopping by using discount codes and promotional vouchers for online shopping – See some of the latest Discount Codes Here.
- Switch your Mortgage : Many lenders are offering cashback of up to 3% if you switch your mortgage. Savings of several thousand Euro are possible. See the figures on mortgage rates here
- Zero Percent Interest Credit Cards :If you have a credit card balance that you are finding hard to pay off – you could try and transfer the balance to a credit card with a 0% Interest introductory offer. On a balance of €5000 – going interest free for just 9 months could save you as much as €370 in interest charges. See our list of Interest Free Credit Card Offers
- Lower Your Mobile Phone Bills : Move to a cheaper mobile plan with a new network or choose a lower priced option with your current network. Heavy phone users could easily cut their annual mobile spend by around €250 . See our article on the Cheapest SIM only Billpay Deals
- Claim all the government grants you can get: – there are grants worth thousands of Euro available for insulation. More details on Grants Here.
If you call the UK a lot – find out which landline companies give you FREE UK calls.
- Get Cheaper Home Insurance : When your house insurance comes up for renewal – don’t just stay with the same insurer – shop around . Our most recent Home Insurance Comparison showed that savings of about €420 a year could be made by shopping around.
- Cut the cost of your TV package – check the best deals from Virgin and Sky
- Get some cash for your old Mobile Phone :You might be surprised at how much your old unused mobile phone is worth. See our page about cash for phones here. It might not be a lot – but every little helps !
- Track your Spending : If you don’t know exactly where your money is going every month , it’s hard to see how you can spend less. By tracking your daily spending – you can see if it is time to cut back on those take away coffees and treats or those bottles of wine ? Try it – you’ll be suprised ( Couples – prepare for some arguments!)
- Switch Car Insurance – in some cases a quote from the most expensive insurance company could be almost three times higher than the cheapest insurer – see more details here
- Currency Exchange – if you are exchanging large sums of currency don’t use your own bank to do it for you – you will get a better rate from a currency broker or a specialist currency exchange website. On a transaction of 20,000 euro you could typically save €200 to €400 See our page about getting the best exchange rates
- Switch Your Savings Account. If you have savings you should check if you are getting the best interest rate. See our regularly updated list of the Best Interest Rates Here. Some deposit accounts are paying rates as low as 0.01% – but you could get a rates of up to 0.3% – that isn’t great but it’s better than nothing .
- Get a FREE NCT if you have to wait more than four weeks. Full details here
Do Online Surveys :Don’t waste all your time online checking other people’s Facebook – you could try and make a few easy Euros instead from online market research surveys . Register here for Online Surveys
- Don’t use expensive moneylenders if you are struggling on low income and can’t borrow from a bank. Apply for a low interest “It Makes Sense” loan ” from a Credit Union. Details Here
- If you are travelling in Europe – remember to get your free EHIC card to avoid possible medical charges if you become ill or have an accident. Details Here
If you regularly use the M50 – read how to cut your toll charges
For regular tips – keep up to date with MoneyguideIreland on Facebook