Conor Pope, consumer affairs expert and co-host of The Price of Everything, gives some top advice on how to cut costs and save money.
Managing our money has rarely been as important as it is now, with the rate of inflation spiking and set to hit rates we haven’t seen since the darkest days of the early 1980s.
The bad news is the problem of spiralling prices is only likely to get worse before it gets better. But we are not powerless and there are some steps we all can take to save money on food, transport, energy and insurance.
The cost of groceries is second only to a mortgage or rent for most Irish households but it is also an area where significant savings can be made.
- Be a supermarket ninja and only buy what you need. Do not let yourself be swept off your feet by the offers dangled before you as you go up and down the aisle.
- Before you walk through the supermarket doors, do your homework. Know what you have in the house and make a list based on that. Do not deviate from that list. Rather than scribbling it on a piece of paper, write in the notes app of your phone – you are less likely to leave that at home.
- Never shop hungry – a hungry shopper is never ninja-like.
- Experiment more with own-brand products. Making some smart switches could see the cost of your weekly shop fall by 30% which could save you hundreds of euro each year.
Light & heat
The cost of heating and lighting our homes has climbed dramatically since this time last year, with all the main companies rolling out multiple price hikes, blaming soaring prices of fossil fuels on global markets. The hikes will cost many households more than €1,000 over the next 12 months.
- While every company has increased their prices, they still offer substantial discounts – sometimes of over 30% – to new customers. So be that new customer. Moving…
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