How to manage your finances

2020 has been a hit or miss for many. Financially, there have been many downs and not so many ups. Understanding that we’re comprised a shortlist of things you can do help lessen your financial dependencies.

1: Save on idle spending

Whether this is saving on superfoods, and opting for water instead of those goji berries and chia seeds, or curbing the amount of alcohol you’re purchasing. There are always ways to curb the amount you’re spending at the store. Choosing to buy the products on sale and not the thing you “have” to have. In addition to that, not stocking up due to the pandemic and making sure to shop sensibly. Look at your savings and create an audit of how much you spend weekly and see where you can potentially save a bit.

2: Energy

You can also save big on energy. If you haven’t changed energy providers in the last couple of years, you’re most likely being overcharged. Around 60% of Ireland’s consumers are predicted to never even consider changing their electricity or gas provider. In addition to that, nearly 80% of the general population is paying the standard tariff for both. Getting rid of that extra cost could mean hundreds of euros saved. The great part of that is changing providers is super quick and easy. The product you’re receiving, in the end, is the same, it’s just who the middleman you’re going through. You’ll need copies of your most recent electricity/gas bill as well as your Gas Point Reference Number (GPRN) or Meter Point Reference Number (MPRN) so providers can match you with the property listing. Changing your provider is just two phone calls away, one to cancel with the old and one to start with the new.

3: Subscriptions

Everyone loves binging TV shows on a weekend and staying in. But there may be many unnecessary subscriptions that you’re currently paying. Give your total budget an audit and see where many of that money is going, and chances are you’ll find a higher-than-expected amount going towards subscriptions.

Finally, at the end of the day. The easiest way to help lessen that bill is just to spend more smartly. Make sure you have your balances in check, and especially with the surplus amount of time that quarantine has offered us. This would be a perfect time to organize everything that has gotten out of hand over the years.


Lucas Zhang was a Finance major at Ohio State University. He writes about finance, mortgages, and technology for Irish Mortgage Brokers.

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