Zero cost changes can help your financial journey become better

Living a healthy financial life does not always mean spending as little money that it brings the joy out of life but bringing enjoyment in ways to spend or save money. Of course, investing in good furniture rather than the cheap table that the paint chips is a much better choice. But there are also plenty of other ways to upgrade your life by changing things out for no extra costs.

Using your existing memberships to access free and complementary goods.

Did you look closely at the membership you paid for? Chances you did not. Many of our memberships give us access to free shows or movies like Amazon Prime or free access to airport lounges. There is a lot of value we are paying into our memberships already. Like magazines or books, they can be expensive to subscribe to each month or purchase individually. At the library, they already hold many of these subscriptions and publications which we can check out for no costs. For instance, some libraries provided a handful of museum memberships the public can check out …

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Two Budget cuts that hurt you in the long runs

Oftentimes, we try to better our financial budgets by cutting things or cutting back on how much we spend to make healthier financial decisions. If you are in a situation where the money is tight, is common to cut back on things you do not need. Being honest with yourself if you are spending way too much on items is a great step to be stepping towards improving yourself. But not all budget cuts are created equally, some of these budget cuts will be costing you more in the long run. It could be not looking into the cost peruse or not paying something in the short term which could accumulate to a large expense in the long term. These are some examples of things that are likely to cost you more than saving money. Here are some examples that can hurt you more than save you.

Regular Car Maintenance

Lots of the population avoid paying a little bit each month for car maintenance like it is the plague, many of them always end up with disastrous car problems which …

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How our brains destroy our finances and how to avoid it

Typically, we want to focus on the good habits we do and improve further on them. Of course, these are good things to know about like managing your money, budgeting, and so much more. Although we try our best to stay on track, the reality is it will not always finish the pathway. Our brains have developed to have a certain way of perceiving and understanding things. Our brains have default habits and modes it follows which can get in the way of even the most knowledge and objective people’s finance. It tends to steer away from logic and make us choose worse options even though we hold the information to do better. With the right precautions, we can teach you how to outsmart your brain. 

Hyperbolic discounting.

To start, hyperbolic discounting is when there is a temporary discount for our preferred immediate over future rewards. We value something more that happens now rather than waiting for it in the future. Credit cards are one of the prime suspects of this action. We purchase an item we might not be …

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Dublin Rent prices on office apartments have fallen since the beginning of the pandemic

In the past year, we’ve seen the Dublin office market prices in rent fall to the lowest they’ve been since 2016. The COVID pandemic has caused the economy to slow to a standstill, and with that, the majority of such companies are postponing their long term executive decisions due to the uncertainty the pandemic has brought about. Office rents have fallen from the high of €65 per square foot down to €59 near the end of 2020.

Even so, there have been signs of economic recovery near the end of the last quarter of 2020. This is expected to grow and continue as the vaccinations for the virus begin to become publicly accessible to the general public. The vacancy rate in the Dublin offices ended at around 9.5% due to reduced demand and office hours during the pandemic. This grey space comes into the market and accounts for nearly 25% of the available office space in the capital. These spaces are continuing to compete with traditional landlords as they offer more flexible terms of lend to their customers. There have …

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Is Dublin the newest popular city for firms to move to?

From recent research by British Newspaper, The Observer, it has been stated that Dublin is the most popular destination for financial companies moving businesses out of London in the past year. Many of these companies specialize in financial services and it has been found that a total of 34 companies have found to have jobs shifting into the capital city. In 2016, the EU passed a referendum which has caused firms located previously in the city to start leasing space in other cities such as Amsterdam, Paris, Luxembourg, and Dublin. This is to ensure that they are still able to keep maintaining business with their EU clients.

Credit Unions are also planning on launching a new credit card within the next month. The Irish League of Credit Unions has been testing this new card in Ballinasloe in preparation for launching the card with another 14 credit unions across Ireland within the first half of 2021. This card removes the credit union member’s dependency on cash and will give them another option in payments or doing their banking services with …

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Ways to build a healthy relationship with saving money

When it comes down to money there are many belief systems out there. From one side, there are people who absolutely refuse to save money even if they have room in their income to do so. While on the other side, there are absolutely obsessed with saving money. They insist there to be no indulgences, coupon clipping every day, no mistakes, and sadly no joy. In the perfect world, we fall in the middle practising both sides so we can balance and enjoy our daily lives while seriously saving for things to come.  Here you will learn how to master balancing the interests of present you and future you.

Most importantly and fundamentally, you need to believe both saving and spending are important. Without seeing the value in both it is very hard to find your perfect balance. For example, if you believe saving is the adult thing to do, chances are you will not put much effort to save money or even start saving money. Same for spending, if you believe spending money on anything is a sin, you …

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Daily Habits that separate you from the most successful individuals

No matter what financial place you are, our goal is to improve your understanding of money. You do not need to be wealthy to do the same things but understanding how money impacts our lives is important to avoid a financial crisis. Wealth is not just money that you have but how you think and feel.  It is not just about perception but there are many practices they have adapted to sustain their wealth. Do not feel discouraged, even those on a serious budget can follow these habits.

 

 Do not wait for permission. 

They feel deserved to go for the things they want. They do not wait for someone to agree with their idea and give them the green light. You can follow this even without having money. This applies to many aspects of our life. Instead of waiting for your boss or managers to give you a raise or a promotion, taking the initiative by demonstrating you have the responsibility to do so and take on the tasks that are for the position. Without taking the initiative, people …

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How will the rising of State Pension Liabilities affect you?

Recently, state pension liabilities have been on the rise at around 10% annually, according to a recent studying involving Ireland’s pensions, it claims that pension schemes across Ireland have over €600 billion worth of liabilities. The study analyzes are many Irish households were privately owned by employers and the government, finding that the State pension accounts for almost 60% of all liabilities. Within that, the public sector pensions account for nearly a quarter while the private sector pensions are around 16%.

Overall, the pension liabilities within Ireland has increased by 7%, however, there are still differences in the positions of such schemes. The liabilities of private sector schemes has increased at just over 1%, while the public sector schemes have almost increased by 10% for state pension liabilities. One of the biggest issues is the sustainability of the current State pension scheme and whether the age requirement on the scheme will rise to 67 as previously planned, and then to 68 in 2028.

The study in 2018 shows that Ireland’s total pension liability at that time was equal to 186% …

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What does Ireland truly stand economically compared to other European powers? (pt. 3)

Another form of measurement used when accessing the healthiness and prosperity of a country is the state of its citizens. In this case, a national indicator of household welfare is known as “actual individual consumption” or AIC. This measurement is also a part of the GDP, where it takes into account the consumption of households on services such as healthcare, education, and housing. What AIC does not take into account is the collective government spending such as defence, policing, debt services etc…

Internationally, AIC includes about 2/3 of all GDP. AIC seems to be the best fit measurement of current living standards of households, which can also e adjusted for price differentials across different countries. Ireland currently ranks less high on this measure than compared to others. Ireland’s AIC rank in the European Union has jumped around quite a bit. At 11th place in the 1990’s up to 6th in 20078. But then afterwards it fell to 14th place in 2009 and returned up to 12th place by 2019. Using this measurement, Ireland actually falls behind all six of the …

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Who is buying houses in Ireland for cash? A look at cash buyers in 2021

With fewer homes entering the housing market, and a large amount of demand that is being unmet due to that, the Irish government incentives like “Help to Buy” have only just started to affect rising forecasted housing prices in 2021. But even so, there has been little effect in the market by people that are known as “cash buyers”.

Cash Buyers may not be the people that first come to mind. They’re not exactly the people that pay upfront the entire mortgage, because let’s be realistic, who has ever done that? Cash buyers are investors, and their acquisitions are mostly funded by debt in terms of purchasing power. This is where they get the name “cash buyers” from. Despite the pandemic in 2020, these cash buyers were still highly active in the market. Statistics show that over 1.75 billion euro were invested by investors from European property firms like the LRC. While, it was still down from 2019 when it was pre-pandemic times, where the overall investment was 2.5 billion euro, there was still a significant amount of money being …

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