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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

The interest rate will kill you.

No, not physically but they will hurt your financial goals if you do not completely understand them. When you are starting out on your financial journey you are not trained to look at interest rates. Most of us are just happy we got fifty euros in our pocket when we first start earning money. We know money comes in and goes out. Once we start going to university or getting a credit card that’s when interest rates start coming into play.

Although 2.5% on the paper might look like a small number on the paper, do not be fooled. Interest rates can be one of the biggest deciding factors in your financial life. The difference between a good and a bad interest rate to a car, credit card, mortgage, and so much more can literally be the difference between tens of thousands of euros! It might not seem to be a lot, in the beginning, take caution to your calculations. Even a cellular phone bill can hit you with a damaging interest rate which if you’re straight out of secondary …

Read More

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 …

Read More

Many Misconceptions about the current ranking of the Irish economy in comparison to other EU countries

A reading using these statistics is not fully accurate simply due to the fact that the statistical distortion created by multinational companies in Ireland sway these numbers. This includes the large activity of transferring the depreciation of intellectual property. AAlso the large number of leasing companies that have moved their headquarters to Ireland in the recent years. The latest GDP statists that have been published internationally show that Ireland’s per capita GDP comes in 5th place out of the 182 countries, and Ireland is first in all of Europe. While these large profits are within the Ireland borders, the majority of these profits are being funnelled by foreign multinational companies that in turn use their profits elsewhere.

In fact, using these skewed statistics like GDP can mislead data in other matters, such as debt, inequality, and worker laws. The GNI statistics is an alternative measure to the GDP, however, it is also affected by the large number of multinational companies located in Ireland and is not a clear representation of the average Irish citizen’s financial situation.

When we look at …

Read More

How to be an ethical investor

First, it is so hard now even before the pandemic to avoid the issues of human rights violation, climate change, corporate abuse, and much more. Sometimes even donating to organizations it is hard to feel those impacts. It causes us to feel crushed by all the problems happening around us and ignore them altogether. But have you taken a deeper look into your investment portfolio? You might ask yourself, is my money-making things better or worse? How can I only donate, but help myself and others in a sustainable way?

Of course, our intentions for investing are obviously to grow our money’s worth for the long or the short term, but on the flip side, the cost of the profits for the company might be quite damaging to not only us but to others. Although you are using your money for good intentions does the thing you are investing in believe in the same morals and principles as you are? Do you continue to take part in this system pretending nothing is happening or is there a better way to …

Read More