There’s a huge amount of information out there (newspapers, blogs, magazines and on radio and tv) giving you advice on how to cut your costs and save yourself some money.
You’ll read a lot of similar advice here on ValueIreland.com as well.
However, something I’ve written about here before is that just because you’re not spending money doesn’t mean you’re saving money.
So, if you switch your mobile phone or your electricity provider or move your insurance to a cheaper company, what do you do with the money that you save yourself?
If you’ve reduced your outgoings by €100 per month by shopping around for your groceries, what do you do with the money you’ve saved?
Will your savings account have increased by €1200 for the year? Or will you have paid off €1200 extra off your credit card bill or your mortgage?
I appreciate that in some cases, you may have had to make cutbacks in one place in order to be able to pay increased costs elsewhere.
However, as much as possible, if you’re successful in cutting your costs you should really try as much as possible to put even a little bit of those savings away rather than letting it be spent elsewhere.