It will save you €1,000’s

Irish News of the World

Sunday January 25th, 2009

Diarmuid MacShane

Save Money. Don’t just “Not Spend”

Some of our biggest monthly expenses have decreased over the past couple of months.

Some people could be up to €200 per month better off because of ECB mortgage rate cuts. Monthly petrol costs have gone down by as much as €60 as well. And many of our shops are cutting prices to try to attract our custom.

What are you doing with the money you’re not spending? Maybe the extra money is just sitting in your bank account, gradually being used up on other expenses?

Or are you making the effort to actually save that money? ValueIreland.com suggests that you set up a separate savings account somewhere (if you don’t already have one) and redirect the money that you’re not spending.

Even better to totally resist the temptation to spend this small monthly bonus, set up a direct debit for the €260 or whatever you’re not spending, and move it to your savings account immediately after you’re paid. Out of sight, out of mind!

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2 Responses to It will save you €1,000’s

  1. Heather James January 31, 2009 at 12:44 #

    Going to the bank on Wednesday to do this very same thing. Was calculating the other night what I could afford to put in as a direct debit. 🙂

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