This week on RTE Drivetime’s ‘Talking Money’ segment we looked at the issue some parents have with ‘Kidults’ who are grown up children living at home. There are many reasons behind the increased occurrence of people remaining at home, and there are both advantages and disadvantages, we tried our best to give some tips that might help!
This was our first time to do ‘Talking Money’ on RTE’s Drivetime Show, we looked at financial resolutions, how to make them simple, and most importantly, how to set them up so you actually implement them, the key is to take small steps and form habits rather than trying to do it all at once. Listen in to the clip to find out more!
Last week on ‘Talking Money’ Mary Wilson spoke to Karl and Jill about ways to ‘beat the bank’. In an era of low returns and higher costs on credit and use of the financial system beating the banks becomes an important aspect of finances because of the amount of interaction most of us have with banks.
Last night’s Primetime had a well thought out piece on variable interest rates.
The general thesis was that variable rates are ‘too high’ and that banks should not be allowed to charge them, the figure of 1% of a ‘cost of funds’ was mentioned several times and various suggestions were made as to making the banks stop the practice of setting their own prices.
To begin with, the ‘cost of funds’ at 1% may be what a bank buys their raw materials at, but then you have to make more on top of it to allow for operational costs, to provide for losses, regulatory burdens, margin and the like. It is worth noting that in AIB’s interim statement which was only made yesterday that they noted that “Net Interest Margin (NIM), excluding ELG, expanded to c.1.64% year to date (YTD) September 2014”.
This means the idea of 4.5% minus the 1% ‘cost’ equating to a 3.5% ‘profit’ doesn’t stack up. If it did the net interest margin …
On Monday the 27th of October we had the first of two parts about pensions, the focus this week was that people are passing up money that is on the table for the taking. The other issues were about the kind of advice you get, and the best ways to structure your pension as well as to demonstrate the available funds if you save for retirement.
This week on Drivetime’s ‘Talking Money’ we looked at ways to take the maximum money saving ideas and put them to use in your own day to day life. Some are well known, others are not, but we are hopeful that there was something for everybody!
This week on Drivetime’s ‘Talking Money’ we discussed the idea of long term leases and how to negotiate them. There is an issue in Ireland that many people don’t consider long leases because deep down they are a latent buyer who hasn’t gotten out yet. Equally landlords may feel they miss out on price moves that may benefit them, or that there is some kind of legal commitment that outstrips the Part IV tenancy which exists after 6 months (it doesn’t).
Longer leases equate to more sustainable cashflows and better predictability of the income streams from the asset, they are an example of a ‘win-win’ situation for all parties.
Today on the Morning Show with Sybil & Martin we looked at flat rate expenses (covered in the Insider) and also the use of pension tax breaks. New studies found that 64% of people either didn’t know or didn’t believe that pensions had tax breaks, something we thought is worth talking about!