Ways to manage your own budget

The excellent personal finance journalist Emma Kennedy, who works with the Sunday Business Post, recently wrote an article on ways to manage your own budget.

She points out…

"As a result of the changes announced last week, single people earning €40,000 will see their net income fall by 3.9 per cent. This means a loss of €1,200 a year or €100 a month.

If you earn €75,000, your net income will fall by 4.6 per cent, which means you will be down €2,250 a year or just under €190 a month".

To deal with this drastic earnings reduction, she advises readers to budget in the following ways:

  • Claim tax relief on your medical expenses
  • Renegotiate your rent
  • Switch energy provider to reduce your costs
  • Cut your car insurance premium by shopping around
  • Get the best return on your savings
  • Be a savvy shopper
  • Look at your credit card habits
  • Take advantage of free online texts
  • Socialise on a shoestring

Link: http://archives.tcm.ie/businesspost/2009/04/12/story40906.asp

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