Financial New Year Resolutions for 2021

Here are some money saving ideas that you might want to adopt as new year resolutions in 2021.


Reduce your mortgage debt by overpaying each month (if your lender allows it)

Switch your mortgage to a lower interest rate and maybe get a few thousand in cashback at the same time.


Switch utilities every year without fail. Switching energy supplier can save you up to €400 in one year and it only takes a few minutes. Check the cheapest energy suppliers here.


Buy Less. Every time you cut out a cake or a beer or something else – stash that saved cash somewhere. Banking apps like Revolut or N26 are good for that.


Try and stick to a weekly meal plan. It reduces food waste and saves money on grocery bills.


Take a look at all your subscriptions – gym , TV , apps ,magazines, newspapers etc. If you are not using them fully – just cancel them.


Avoid currency transaction charges when spending online or abroad by getting one or more of the following cards. N26 , Revolut or Wise


Cut out impulse buying – especially online. Wait a week to decide on any purchases over €100.

Stop using cheques. They are expensive.

Check your Prize Bond numbers .


Save more – try and set up automatic standing orders to pay money into savings accounts. Open a regular savings account.

If you do have health insurance don’t just stick with the same plan at renewal. Look for something cheaper or maybe even ditch it altogether. See more on Health Insurance Comparisons

After you have enough money saved to cover emergencies – consider investing in shares. (This is a long term investment and could result in losses). Where to Buy Shares in Ireland

Treat your savings and investments as a fixed expense that are deducted as soon as you get paid each month. Increase your savings when you have a rise in income.


Pay off any credit card bills before you put spare cash into savings accounts. Transferring your credit card balance to a card with an interest-free balance transfer offer will help.


Switch your current account to a bank that charges no fees (or fewer fees.) See our Bank Charge Comparison


Sort out a Power of Attorney

you never know when you might need someone else to look after your finances if you are unable to.


Pay bills as soon as you get paid. That way you will have a clearer idea of what you can (and can’t) afford to spend.


Make a realistic monthly budget and stick to it.

As a rough guide, you could aim for a 50/30/20 BUDGET.
Half of your take-home pay should go toward “needs,” such as housing, food , heat, and transport.
Then 30% goes to “wants”, and 20% to savings and/or debt repayment.


Check your bank statements.

If you spot something you don’t recognise, then check with your bank. Of course, this will be a lot easier if you bank with one of the online banks such as N26.


More Money-saving Tips for 2021 here