High Cost of Living – And What You Can Do About It

The Central Statistics Office (CSO) estimates that prices in Ireland have risen by 7% in the past year, as of March 2023.* No wonder many families are feeling the sting: you have likely noticed your disposable income is shrinking and it can be hard to pay bills on time. Managing debt in particular is a great concern to some.

Three things to consider when money is tight

So, what can you do to stay in control of your finances? Here are three tips that might help you make smart money decisions:

1. Make your money count

Inflation is when the price of goods goes up and because of this, the value of your money goes down. In simple terms, this means you can buy less for €1 today than you could before inflation increases. Learn how to manage inflation here.

2. Start budgeting

Life is busy – and it can feel like you don’t have the headspace or time to spend on planning our finances. But taking out the time now to budget should help you in the long run. Start by following these 3 steps towards getting financially fit.

3. Future-proof your finances

When you’re struggling to make ends meet, planning for the future might seem out of reach. But really, the sooner you put a plan in place, the better. Get a free financial review online from Irish Life Financial Services now to take the first steps. 

Struggling to make ends meet? Speak to us today.

Falling behind on bills can happen to anyone. We understand it is a stressful time and we want to help ease the worry for you and your families’ financial security. Speak to us as soon possible, so that we can do all we can to support you. Give our Customer Service team a call today.

*Prices in Ireland estimated to have risen by 7.0% in the 12 months to March 2023. https://www.cso.ie/en/csolatestnews/pressreleases/2023pressreleases/pressstatementflashestimat