Top Tips

Savings Accounts.

Whether you're saving for a holiday, a deposit for a house, a car or investing there is a savings account for you.
Freetocompare.ie compare the many different savings accounts on offer, finding you the best deal. freetocompare.ie top tips for choosing a savings account make it easy to find the right one for you.
Think about how you will use the account. Knowing what you want to get out of your savings account will make it much easier to pick the right one. Some important things to consider are:

• Do you need instant access to your savings? There are plenty of savings accounts on the market which give you instant access to your money, but you might get a better rate of interest if you put your money into a term or notice savings account. With these saving accounts you have to give your bank or building society warning if you want to withdraw you savings - usually between 30 and 90 days - or pay a penalty.
  
  
• How do you want to run your savings account? Think about running your account online - online savings accounts often have higher interest rates than normal accounts. However, if you prefer to manage your account through your branch or by telephone, there are still good deals to be had.
  
  
• Do you want to make regular deposits? If you want to put money into your savings account regularly, for example every month, considering getting a regular savings account. These accounts offer great interest rates, but you have to make regular deposits and there are sometimes limits on the number of withdrawals you can make.
  
  
• The interest rate. The interest rate is one of the most important factors to consider when choosing a savings account. Many savings accounts are advertised with very high interest rates - but often these are introductory offers. Check to see when the special rate expires, and how much interest you will earn afterwards.

Save Money on your Phone Bill

• Skype: Why pay for calls when you can Skype for nothing? Download the software at www.skype.com and get free calls to other computers. Calls to regular numbers anywhere in the world cost a fraction of the normal cost - calls to Australia cost less than 2 cent a minute.
  
  
• Mobile phone audit : Carry out a mobile phone audit every year to make sure you're on the best package for your usage. Phone users who have no idea how many "free" minutes or "free" text messages they are getting could be spending €150 more than they need to each year.
  
  
• Loyalty doesn't pay: Don't be loyal to your phone provider - mobile or landline. The sector is increasingly competitive so take advantage of introductory offers rival providers dangle in front of you to encourage you to switch.
  
  
• Your needs: Do you need your landline? For some people the answer is yes, others keep it out of habit. A fixed telephone will cost even the most casual user around €500 a year, over half of which goes on line rental alone. While landline charges remain high, mobile charges are falling all the time.

Cheaper Electricity and Gas tips.

Using less gas and electricity will help reduce your energy bills, but thereare measures you can take in the short term that will make an immediate difference. We have listed our top tips for getting cheaper gas and electricity here.

• Switch your energy supplier: You could be in line to save hundreds of pounds on your bills just by switching your energy supplier. If you have switched before, make sure you keep checking that you're on the cheapest deal.
  
  
• Pay by direct debit: Energy suppliers will usually offer a discount if you opt to pay by direct debit, which means that your energy bill will be automatically deducted from your bank account every month.
  
  
• Take your own meter readings: If you don't submit your own meter readings, your energy supplier will estimate your bills. In the long run this could leave you in debt to your energy company, or even in credit with them. All the time that they've got your excess money, you will not be earning interest on it (which means that they can!).

 

Car Insurance

If you drive a car you must be insured to drive it. If you stick with your current insurer it may be quicker and easier at renewal time, but using freetocompare.ie will enable you to compare many insurance companies at once and get a very competitive quote possibly saving you many euros!

There are ways to keep costs down, such as upping your excess, not making a claim, parking off road and avoiding penalty points.

Here are our top car insurance tips:

• Be as accurate as possible about your annual mileage: If you just guess your mileage, you could overestimate and will find yourself with a higher premium.
  
  
• Have fewer named drivers: You can reduce your premium by adding fewer additional drivers to your policy.
  
  
• Volunteer some excess: A voluntary excess (usually €250-€1000) will lead to a discount on your car insurance premium as you are agreeing to pay a certain amount yourself if you make a claim.
  
  
• If your car is over 10 years old you could reduce the cover from comprehensive to third party fire & theft.
  
  
• No claims bonus amount: Get it right, and make sure you have proof of it.
  
  
• Be honest: This may not save you money but will stop you from being prosecuted for not having the correct insurance!
  
  
• Be a careful driver: It may seem obvious, but the less risks you take, and the fewer times you get a speeding ticket, then the lower your premium will be.
  
  
• Pay up front: With car insurance providers charging an APR of 12.5% plus if you pay your premium on a monthly basis, paying for your car insurance in one lump sum is a far cheaper option.
  
  
• Engine size. The smaller the engine size, the cheaper it should be to insure.
  
  
• Don't modify: Often - but not always - modifications made to cars, such as supercharging the engine, will force your insurance premium up or invalidate your insurance if insurance company has not been informed.
  
  
• Keep it safe: The more secure your car is the lower your car insurance premium will be.
   

Mortgages

• Look beyond the headline: The Key Facts Illustration (KFI) provided by your lender will give you a personalised quote for the total cost of a mortgage. Depending on your circumstances, a slightly higher monthly interest rate with no arrangement fee might be a better deal than a lower rate with a large fee up front.
  
  
• Mortgage overpayments can save you money: The size of most mortgage loans and the standard 25 year term means that the amount paid back in interest is much greater than the amount originally borrowed. Reducing the outstanding capital by even a small amount makes a big difference. Overpayments substantially reduce the length of your mortgage and therefore result in lower interest costs. You will however need to check with your mortgage lender to see what kind of overpayments they allow as restrictions often apply.
  
  
• Ask for two mortgage illustrations, one with and one without arrangement fees: This will allow you to fully understand the impact on the total cost of your mortgage before making a decision. If you do not have the cash available to pay the fee up front, putting arrangement and exit fees onto a mortgage account is an option, but you should be prepared for the extra costs to be reflected on the monthly mortgage repayments.
  
  
• Once you've taken your mortgage out, if you begin to struggle with an increase in mortgage payments, taking in a lodger can ease the strain. The Government's Rent-a-Room scheme means you can receive up to €10000 a year from a tenant tax-free.
  
  
• Our final piece of mortgage advice is to always consider the cost of exit fees before you switch mortgage providers.
  
  

Broadband

There are hundreds of different broadband deals available and with so much choice it can be hard to find the broadband package that's right for you.

Freetocompare.ie top tips for choosing a broadband deal show you what to lookout for, so if you are struggling to find cheap broadband, freetocompare.ie can help you get a better deal.

1. Check the speed Faster broadband packages are usually more expensive. It might be worth spending the extra money on a faster broadband connection if:
   • you download large files
   • you want to watch TV online
   • you like online gaming
   • you want to use the connection on more than one computer
   • Cable providers offer super-fast speeds of up to 20Mb, while ADSL broadband suppliers usually offer    speeds of up to 8Mb.

2. Find out if there is a download limit.
Some broadband deals come with a download limit. If you go over your download limit you could be charged, making that cheap broadband package more expensive than you thought.
If you use the internet a lot or download lots of files, like music or films, look for an unlimited broadband deal.

3. Think about a bundled deal

You might be able to save money by getting broadband that comes packaged with home phone and/or digital TV.
Lots of providers offer great deals if you take other products alongside your broadband, so look out for bundled broadband deals.

4. Check the small print

Don't forget to check the small print before you sign up to a new broadband package - there are lots of small things that can add up and make a cheap broadband deal expensive.

Always check:
   • contract length - make sure you are not getting into a long contract. Broadband deals are becoming    more and more competitive and you may want to switch to a better broadband deal in the future.
   • introductory offers - some broadband deals have great introductory offers, but always check that the    normal rate is competitive too.
   • installation fees - do you have to pay any?
   • the cost of calling customer services.

 GENERAL TIPS

5 Tips to make it possible to retire early

1. Save money early in your career.
2. Save 20% of your income for retirement !
3. Invest money over a long time span and leave the trick of compounding work! Start today.
4. Stay out of debt and watch your expenses
5. Plan to work part-time during your retirement.

4 Tips To Help You Get Out Of Debt Quickly

1. Create a budget. See what your income is and what your outgoings are!
2. Cut down on unnecessary expenses.
3. Stop using your credit cards.
4. Plan your meals for the week and only go grocery shopping once a week after a meal and not when you are hungry!

Personal Finance Tips

Live within your means!

The simple basic rule of personal finance: spend less than you earn.

Work to live and not live to work!

Do what you love.

For everyone who trades hours for money in a job they don't enjoy - you know how painful it can be going to work each day just to get a paycheck. There is more to life than money. Money doesn't make you happy.

If your career is tied to what you love to do rather than how much you can make at it, you are probably a lot more likely to make more money at it. Ironic, isn't it.  that isn't always the case, but life is too short to spend most of it doing something you do not enjoy!

To excel at something, immerse yourself. Dabbling in some things doesn't make you an expert. In order to become truly great at something, you have to live, breath, think, and dream it. Find every book you can read about the subject, start doing what they say, and teach others about it. You retain the highest percentage of what you learn when you share it with others.
Take risks when you can.

Take calculated risks. Do everything reasonable you can to minimize the risk, but don't be afraid to take a risk. It is okay to make mistakes. Human beings are designed for this. Life is just too dang boring without them.
Tap the power of compounding.
Time is a friend of compound interest and this is a perfect reason to get started investing today and put it to work for you!

Don't save too much. Life is about balance. Saving should be part of your financial plan, but don't forget to enjoy your life when you are still able! Develop a healthy skepticism.
This has worked hand-in-hand with the previous piece of advice. You should never let your skepticism keep you from opening your mind to new possibilities, but you also should not be naive.

Here are the things to do if you really want to save money!

• Turn the TV off. It is amazing how many people have their television turned on as background noise. If you don't watch it, turn it off.
• Drink water. Water has incredible health benefits. Drinking it instead of soda not only improves your health, but saves you money.
• Write a list before going shopping. If you see something that is not on your list, don't buy it. Unless you are food shopping and see a great deal on something that you can freeze.
• Freeze your meals. Cook meals in bigger quantities and freeze them. It will save not only energy but time.
• Buy low energy light bulbs. They save energy and last longer.
• Always remember to shut your windows and doors. You don't need to heat or cool outdoor air. Plus, considering rising crime rates, it is much safer.
• Use towels and cloth napkins. It will save you money and protect the environment.
• Air-dry your clothes. If you have a backyard, dry your clothes outside, when the opportunity presents itself! It will make your clothes last longer and will save you a lot of energy. You will be surprised to see how much energy your dryer eats.
• Buy own brands. They are just as good as brand named ones. If you don't believe me, check he ingredients.
• Shop end-of-season sales. The best time to shop for clothing and seasonal merchandise is at the end of a season. Stock up on Christmas stuff in January. If you have kids, buy stuff for the next year.
• Before going shopping, do you homework. Search for coupons online or in your newspaper. Don't neglect smaller savings, because they will add up.
• Leave your credit card at home and bring cash with you. Pay by cash which is a good reminder of how much money you are actually spending and have left!
• Take lunch to work as it is certainly cheaper than going out for lunch, and probably much healthier! Take coffee from home and save on buying it at convenience shops.
• Buy in bulk. It is always a good idea to freeze meats and refrigerate fruits and vegetables. It will save you money and extra trips to the shops.