Michelle O’Hara
Regional Manager at South Leinster MABS
Across Ireland, people are finding themselves financially stretched. Rising rents, childcare costs, energy bills and everyday expenses are putting pressure on families, couples and individuals alike.
Whatever your situation and wherever you live, the cost of living can feel overwhelming. It can lead to sleepless nights, relationship strain and a sense of isolation. It’s important to remember that you are not alone and there is help available. Here are a few tips to get you started.
1. Understand where your money is going
When money feels tight, the first step is to understand where it’s going. Start by listing your income and expenses weekly or monthly. Don’t forget about your annual payments, such as car and house insurance.
2. Make a shopping list
Before you go to do your weekly food shop, start with making a list. Think about meal planning for the week ahead and check what’s already in the cupboards and your freezer, then make a list of what you need and stick to it.
3. Review your utility bills
Your contract with your utility companies is generally a 12-month contract. It is worth shopping around to see if you get a better deal. Always have your last bill available so you can understand how and what you consume in terms of energy.
4. Understand what your priority payments are
Do you have a mortgage or pay rent? Food, heat and light are also priority payments. If you fall behind with these payments, the consequences can have a much greater impact on you and your family.
5. Pay what you can
Always remember that if a creditor offers you a moratorium, for example, the energy providers during winter months may not disconnect you for failure to pay your bill. This does not mean that you do not owe the money, and you should continue to pay what you can during this time.
6. Find more information to get you started
For more information, hints and tips to start you on your journey, visit www.mabs.ie. We are here to help. MABS is a free, confidential and independent service with offices available in every county.
