After several years of austerity – many households in Ireland have seen a fall in their disposable income and rising bills. Budget 2017 should result in a small amount of extra money in some people’s pockets in 2017 – but Money Guide Ireland can help you even more with some useful tips on reducing your bills. By following just 3 or 4 of these tips, an average household could manage to cut their bills by €1000 in a year. Last year one reader saved enough to pay for flights to New York
Here are our Top 20 Money Saving Tips for 2017
- Switch Electricity Supplier
If you are are an average electricity user, still on the old “ESB” standard rates you could easily save around €220 in one year by switching supplier . You could save money by just paying by Direct Debit and opting for electronic billing. See our Electricity Price Comparison
- Switch Gas Supplier – If you are still with Bord Gais Energy for gas and have never switched – you could easily save around €240 in the first year if you switch your mains gas supplier. See Gas Prices Compared
- Look out for discount codes and promotional vouchers for online shopping – See some of the latest Discount Codes Here.
- Claim all the government grants you can get: – there are grants worth thousands of Euro available for new boilers and insulation. More details Here.
- Switch your Mortgage : Many lenders are offering cashback of upto 3% if you switch your mortgage. Savings of several thousand Euro are possible. See the best mortgage rates here
- Save money on expensive travel insurance – we found a difference of €140 in prices for insurance for a 2 week trip to the USA – with very similar cover. More here on Travel Insurance Prices
- 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.
- Switch Broadband and Phone –You could save as much as €350 a year by switching your landline and broadband – see more here about the cheapest broadband
- Switch Your Current Account :It is difficult to avoid paying fees to banks for operating your current account. But – there are still some ways to reduce or even avoid bank charges . In our example we found that savings of as much as €160 a year could be made – read more here How to get Free Banking in Ireland
- 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 €1000 – going interest free for 10 months could save you as much as €80 in interest charges. See our list of Interest Free Credit Card Offers
- Lower Mobile Phone Charges : Move to a cheaper mobile plan with a new network or choose a lower priced option with your current network. Heavy phone users could cut their annual spend by hundreds of euro . See our article on the Cheapest Pay as you Go deals. and SIM only Billpay Bargains
- Switch Car Insurance – a recent survey found that 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 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 rate as high as 1.5% . Regular Saver Accounts can pay as much as 3%.
- Get a FREE NCT if you have to wait more than four weeks. Full details here
- Get some cash for your old Mobile Phone :You might be surprised at how much your old unused phone is worth. See our page about cash for phones here. It might not be a lot – but every little helps !
- 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
- You can get a grant towards replacing any dangerous lead water pipes in your home. Details Here
- 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
For regular tips – keep up to date with MoneyguideIreland on Facebook