Everyone has the need to save for something, whether it's a deposit for a house, to educate their children or to put some money away for a rainy day.
My Children's college education
College registration fees now stand at €2750 per year in 2014-2015 and €3,000 in 2015-2016. In addition, the estimated living expenses of a student in college can range between €7,500 and €12,000 per year depending on location and lifestyle.*
Deposit for a house
Saving for your deposit is still an essential first step. If you take a nominal house value of €250,000 and assuming a you qualify for a 92% mortgage, you will still need to have a deposit of €20,000 just to get started.
When it comes to saving, most people automatically think of deposit account. Actually, there are two main types of plan – a deposit account, and a regular "unit linked" investment plan like Clear Regular Invest.
If you are thinking of saving regularly, it's important to make sure you have the right type of plan, or mix of plans to meet your savings goals. Our financial advisers will discuss your savings goals, prioritize them and see how they fit into your overall financial plans.
*source Citizens Information August 2014