The problems in Greece are weighing heavy on Europe; the worry is that Greece will be Dracula and suck the lifeblood out of the Euro, or they will go Drachma – returning to their own money. For now, they remain the focal point of almost every financial worry at present worldwide. At Advisors.ie we are getting calls from clients on a daily basis who are worried about their savings, wondering if their money is safe, and they ask us what they should do in order to protect themselves.
Also filed in ACCA, Accountancy, Advisors.ie In the Press, Banking, Deposit accounts, Financial Advice, Savings
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Tagged deposit guarantee scheme, deposit guaratnees, elg, eligible liability scheme, fdic, greek crisis, irish bank deposit protection
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Irrespective of what you may read or hear, there are property transactions occurring. According to the CSO the price drops are about 40% from peak. The amount of mortgage lending may is down 90%, if you are a Rothschild at heart then the adage ‘when there is blood on the streets, buy land’ is ringing in your ears.
Sometimes financial decisions are not about saving money, but about spending money to avoid loss. This is what much of insurance is, it is acknowledging a risk and taking a step to mitigate that risk at an appropriate price. In finance fund managers do it all the time and call it a ‘hedge’, which is where the term ‘hedge fund’ came from. Today we are going to take this down to the more simple scenario of protecting your home and looking at the cost of doing this.
CREDIT cards can be a godsend and a curse. I have a friend who doesn’t have one, so I used to wonder how he booked flights or bought anything online. Recently I discovered his secret — he just lets his wife put it all on her credit card, clever man.
Also filed in Accountancy, Advisors.ie In the Press, Credit Cards, Financial Advice, Savings
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Tagged borrowing credit, cca 1995, ccma, code of conduct on mortgage arrears, consumer credit act, credit cards, fix my credit, how to fix credit, manage credit
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The headline this week is from the famous quote that ‘the only sure things in life are death and taxes’. We have looked at death in the past from the perspective of Life Assurance, this week it’s about taxes – and more importantly, what to do if you can’t pay them or if you are not sure about your taxes. The good news is that the Revenue Commissioners in Ireland are a fairly effective bunch and the people there are well briefed and effective (this is no surprise as their duty is to make sure everybody pays up!). Revenue are well aware of the state of the economy, and that business
Also filed in Accountancy, Advisors.ie In the Press, Deposit Interest Retention Tax, Financial Advice, Income Tax, Taxation
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Tagged 2003 taxes consolidation act, deposit interest retention tax, DIRT, paye tax returns, revenue commissioners, tax deadline, tax questions, tax returns, taxation, taxation issues
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Ask anybody ‘what would you do with some extra money?’ and you’ll get a lot of different answers, but this week it is your turn to decide. Because over the last three weeks we have shown you how to take a snapshot of your financial situation then how to use that as a blueprint in finding ways to save money. Without too much effort an average savings of €2,000 is possible simply by re-jigging some of your spending patterns, so where to from there? In finance there is a hierarchy that advisors tend to adhere to and in rank and order it is as follows: Protection, Investment, Savings, Retirement planning and Mortgages.
Also filed in Accountancy, Accountant, Advisors.ie In the Press, Financial Advice, Gold and Silver, Investment, life assurance, Mortgages, Pensions, Precious Metals, Savings
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Tagged building a financial portfolio, financial advice, personal finance, portfolio
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In last weeks instalment we started by asking you to set up two things, firstly was to fill in a ‘standard financial statement’, this is now the foundation of your budget, the second was to start a ‘spending diary’. These two items will form the twin pillars of changing your wealth.
Also filed in Accountancy, Advisors.ie In the Press, Financial Advice, Investment, Precious Metals, Savings
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Tagged best savings choices in ireland, financial planning, how to make a financial plan, how to start savings, investing, standard financial statement
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THE saying “Give a man fish and you feed him for a day, teach a man to fish and you feed him for life” is a useful way to look at personal finances. After all, there are plenty of people who can tell you what to do, or give you advice to get you through the next day/week/month, but it isn’t nearly as powerful as being able to take control of your own cash.
Also filed in Accountancy, Advisors.ie In the Press, Debt, Financial Advice
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Tagged budgeting, financial statement, household budget, how to set up a budget, irish money saving, irish money tips, money saving tips, personal finance, saving money
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A ‘Standard Financial Statement’ (the MABS version) is available in this link. You can download it as part of the first step in getting control of your finances back on track via our weekly News of the World column!
When it comes to avoiding petrol price hikes, many of us can cycle, take the bus or walk instead of driving. It’s the other big energy uses in most households — heating and light — that aren’t always so easy to cut back on. Heat loss occurs through ceilings, walls, windows and because of inefficient heating systems. Ceilings account for the biggest waste at about 40 per cent, while walls are about 35pc.
Also filed in Accountancy, Advisors.ie In the Press, Financial Advice
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Tagged eco cladding, eco friendly, external insulation, heat loss, insulating your home, insulation attic, insulation cladding, news of the world, seai, sei
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