Hi guys! Is this average? I'm with FloGas 24h reading (sum of day and night): 15.134 Kwh ( average cost day +night = €4.085) day reading: 8.030 Kwh (day rate €0.3561) = €2.859483 night reading: 7.102 Kwh (night rate € 0.1726) = €1.2258 so basically the electricity cost per month is around €120~€130.... and on top there is a VAT of 9% to add to the above cost. We are 2 living in the apartment. I thought the night reading was going to be around half of the day reading. maybe there is a problem with the meter? Is your electricity consumption around the same? Am I saving or consuming too much energy? can you share your consumption for comparison? Or can you suggest another provider with better rates? Thanks everyone.

Hi Guys,

A bit of a background about myself. I am 29 working full time and earning between €2500-€2700 per month. Currently, I drive a really old crappy car which I bought in 2021 for €1300. Now I was thinking to change my car and cover half of it via personal loan.

Looking at the house prices, I am not sure when I would be able to buy my first home. But my question is that will this create any impact on future mortgage application? Does credit history help ?

PS: This is the first time I am thinking about taking a loan.

an accident is to happen to you needing follow-up treatments/procedures?

Just getting a bit worried here after reading this particular post, since myself doesn't have an insurance at the moment, just really can't afford it for now.

https://www.reddit.com/r/AskIreland/comments/1cpk90d/adviceopinions_on_my_situation/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

I commented to ask a question and it just got downvoted and I would appreciate if people here are more reasonable to ignorant people like me and somehow make this a bit clearer to me please.

I have been seeing a couple of consultants (cardio and derma) annually, who were referred by my GP, I have not been paying a cent to see them and I undergo some procedures with these consultants. My impression was, if you are referred by your GP to a public consultant, it will be free. I have been relying on this complacently.

For accidents, as far as my reading goes, there is a 100euro fee for A & E treatment. But what happens in the event that you need follow-up treatments like for the unfortunate OP in the post above? Could we choose to go public and seek referral from your GP? Does it work like this? Does the 800euro cap apply? If not, could the costs of medical procedures from accidents or assaults possibly wipe out your life savings?

So me and my girlfriend want to buy our first house and we have no idea where to start. Ideally we would like to spend between €230k and €250k for a house in the area where we both live and grew up. How much of a deposit would we need and any tips would be greatly appreciated.

21, living at home, New to Reddit ( First post 🥳)

I have always understood that having a “high” salary isn’t enough. It comes down to income vs expenditure and putting money to good use instead of falling victim to lifestyle inflation.

I have struggled with financial discipline and should be in a much better position than I am at the moment, entirely due to my spending habits. I have realised how unsustainable this is and need to chage it.

As of this week, I have drawn up my expenses/bills etc. and have allowed myself a budget for “recreation”(hobbies/coffee/going out etc.)” each week.

I have opened up a Trade Republic account (easiest thing I could do to keep my money out of sight and some brief research told me they had the highest interest rates ) for saving for the meantime while I figure out a plan. After necessary and discretionary expenses I have €500/w for saving and investing etc.

I am looking for some advice as to where I can get good quality information about how much to put into what and how to formulate a financial plan.

I’m interested in stock market, real estate investing, possibly trading, investing both money and time into startups and creating active income sources.

I don’t want to just keep piling money into a savings account just for it to lose value through inflation, I want to actively pursue growing my income streams.

One of my main concerns is tax, income tax in Ireland already feels massive and I have read that CGT is 33%. I don’t think there is much I can do about PAYE (correct me if I’m wrong) but would there be any ways to reduce other forms of tax? Creating an LLC to invest through (possibly registering in a different country), I know very little about pensions or trust funds.

Any and all help would be very much appreciated on anything I have mentioned( discipline, saving, investing, tax, or anything else I should look into)!

TIA

I had a company pension for few years and then last year the platform was switched by the company/pension provider, I don't know which one.

I was able to see how much I had invested which gave me info on the return which included company match and investment returns etc.

But since the switch, the amount that was in my account only shows as amount I have transferred in.

So now I don't really know how much I have put in v investment returns and company match.

Has anyone had similar experience?

Hi there,

If I already put 20 percent of my salary into my pension. Do I need to also make AVCs to maximise my pension? I want to maximise it while still getting tax relief or whatever is typically meant by maxing a pension. Is there a limit of 115k in total per year?

Thanks a lot for any help.

Hello ,

I am on a fixed rate for another 2 years. In a position to be able to make a modest lump sum payment against the mortgage without a penalty the bank have confirmed.

They have however warned that this will not reduce my term as I am on a fixed rate - which would be the ultimate motivation for doing it .

My question is: is there any real point in making this payment if it won’t reduce my term ?

Thanks in advance .

Hi everyone.

Given that my spouse and I are considering relocating from the southern region to Dublin and have secured an approval in principle for our mortgage, we are curious whether there might be any complications when we present the details of a property in Dublin to the bank to obtain the final loan offer, considering our current residence and employment are in the south?

We are currently with a provider with the best rate available but only fund the purchase of the house (no renovation costs). This suited us at the time 18mths ago.

However our circumstances have changed, renovations would greatly help and we are now in a position where we can afford a bigger mortgage repayment to fund some renovations (extensive energy retrofit and extension).

What are things to be aware of? How much savings do we need? Are we still 1st time buyers? Will we need 20% savings or 10%? Can we count our current equity in the house towards this?

We are from Sweden. My daughter has inherited a fair amount of money when her grandmother passed in september 2020. The inheritance was distributed during 2021. My daughter started studying at university in Ireland in september 2023. She will probably move away after four years, but that is not definitely decided yet.

We are worried about the "deemed disposal" rule. As I understand it, she would have to pay 41% of the contents of her inheritance after eight years. Is that correct? But most importantly: when does the clock start ticking on the eight years? Is it from when she moved to Ireland, or from when her grandmother died, or when she got the inheritance?

EDIT: clarification: The inheritance is invested in index funds in a Swedish ISK (investment account). So I guess that counts as ETF?

I’m travelling with work (in UK) on a major construction project that I suspect will take another 5 years. I’ve rented out my family home until I return and there is a slight surplus when mortgage and costs (tax, management, insurance etc) are covered. It’s not much but I was wondering if I could put it into a private pension?

I rang Revenue to see if I could keep paying into my state pension but they said rental income can’t be used for that - it has to be a salary or I need to set up as a company. Since I’m not a professional landlord and this would incur extra costs (tax return etc) this would use up the surplus. They also said since any state tax I pay in the UK can be transferred to the Irish state pension when I return.

I have a private pension from an old job and I was wondering if I could top that up and then include it in my (individual) tax return?

Has anyone been in this position or know if I can do it legally? My accountant (who just does my returns) said he can’t see an issue but it wasn’t very reassuring!

https://preview.redd.it/tb1s5rr1erzc1.jpg?width=1080&format=pjpg&auto=webp&s=9f1bd02184fd6de0dc687573efcaf7dc926eb318

Here is the last 24 months of fund performance from 3 different options, vs cash. In the same period the Nasdaq has increased by 18%

What's interesting is all funds, other than cash show the same spikes and overall result,.despite them sounding different, moderate find, perofmance diversified fund, diversified equity fund, vsngiarg global stock fund, etc.

Do pension providers not have any requirement to at least get as much long term return as a lazy investment directly in the Nasdaq or s&P 500? I'm paying them thousands a year to 'manage' this.

Edit: Thank you to all who took the time to give me resources, it really has helped reassure my pregnant brain!

A wise man once said, "I don't know what a tracker mortgage is". I'm having a baby in six months and financially I have no idea where to start. I have an account with TSB where I put money for saving long term although it's somewhat irregular (approx €3,500 currently in it). I have my own bank account that my pay goes into and my subscriptions, bills and rent goes out of. I have revolut for short term savings (holidays etc.) and a joint account with the husband that I personally haven't used. But when I'm on this sub I see people talk about various trading accounts (e.g. 212) and long term savings accounts and DIRT implications and a host of other financial jargon. I feel lost and want to educate myself and become more financially smart. Are there any factually correct YouTube videos out there? How do I choose a financial advisor? I don't know where to start. Please help and I'm sorry for the long winded post.

Hi, I’m wondering is there anything that affects the decision of the AIB bank when asking for overdraft? I’m basically putting all my money on Revolut so my AIB account is always on 0. Also, I make some bets online sometimes, so I’m wondering is that affecting the overdraft decision? Thanks.

I'm working with a basic plan to retire when my pension hits the max limit (currently 2M).

What is the youngest age you could feasibly retire on that, living comfortably, if you still have an €1800/month mortgage ro pay until age 67? Assume I won't be leaving Ireland and all stamps are paid from age 26 to the retirement age in question.

Hey so im looking to invest some money into stocks, i want to create 2 portfolios.

1 for me: which would be short term investment (probably a few years)

2nd for my sons college: he has another 10 years before that but i have a sum of cash just sitting there in losing on its value, so i was thinking about some index fund here.

I heard of etoro and 212 platforms i dont know which is better, also im aware of the 41% tax on gains of investments but im not sure i understand that 7-8 year rule.

Anyone help or provide any valid source of information/advice?

Ive finally gotten to the stage where I can buy my first home but both parents and everyone I talk to seems to have two different answers.

Basically I have 20000€ deposit and should I go about getting approved for a house under 200k now but I’d be wanting to upgrade within 10 years or should I wait another year or 2 until I have enough to get my forever home but I’m worried with house prices rising I might just be trying to save for a house I can’t afford in 2 years time.

Hi all, we have gone mortgage approved & on to the next step of sending on all the information to our solicitor. We’ve had a meeting arranged by our mortgage advisor with Irish Life over their various products, is this normal & expected? Not sure on the whole process from this point but not too keen on listening to someone offer a range of products. Any info about what’s a necessity would be great, thanks !

This is a bit of a niche one. One of my kids (under 3 years old) may be about to receive a substantial gift from a great grandparent (not deceased). I'm trying to figure out how to arrange this properly, I'm not receiving anything and I want it to be clearly arranged so it's clear the money is the child's.

Because of their age they have a bank account where their name is noted but I'm the actual owner. I don't think much else can be done there and once I record everything I think that should be fine.

However I'm confused in the tax situation. My understanding is that a great grandparent is group B for CAT so they have a limit of 32.5k (plus the 3k freebie). Assuming the amount is below the threshold but let's say it's close to it, how do I report this to revenue? I know for my own taxes if you reach 80% of a group threshold you're supposed to declare it. But this is a child, do I need to register them with revenue 😂. The general idea is whatever they receive will be below any threshold to accrue tax but I'm uneasy with the declaration process

Also as an aside, do group CAT thresholds work cumulatively or is it per person? For example if I had say a grandparent gifting me a sum of money and a separate grandparent doing the same, does the allowance add them together or treat them separately? I don't have this scenario but I'm just not sure if it's all in the pot together or each person treated separately

You can't access any of their savings and trading products and they won't tell you this until you contact customer support.

Can't do it on Revolut either but at least they give you a heads up.

I make 750€ p/week at current job, what can I do to make 100k a year? Is it possible in Ireland without a college degree or trade?

We use a joint account for all our daily expenses. This is where our salary will go. But it needs to be an active account with debit card? Anyone know if the joint account has this feature or if it’s just a savings account that still requires your main account for debiting

Doing up a house soon. Wondering how much me and my wife can borrow from a bank/credit union. Personal loan home improvement loan whatever? We have no debt at all. €75,000 seems to be most I can get from any. Can I get two loans? What’s the story?

I have a bit of money built up in a Revolut vault but have heard of people getting locked out of their account for random security issues and then not being able to access their money for a long time.

I've set up an on-demand savings account with BOI as I also have a current account with them. I want to transfer money out of my Revolut vault across to my bank savings and I also want to transfer money in my BOI app from my current account into savings.

I'm not used to transferring money around the place, even though both accounts are my own.

Is there a point where either Revolut or BOI would contact me to ask me why I'm moving lump sums from two sources into my on-demand savings account? Would it make sense to do this in increments of €500 or try and take care of it in two lump sums?

It's not huge amounts, I'd just like to consolidate it. And in a time where banks can sometimes ask you about the potential for money laundering or fraud for values over €1K, I don't want to face questions about my own legitimate funds.

If anyone has experience about consolidating funds across apps I'd appreciate the feedback.

Sorry if this is the wrong subreddit. I remember I was with an American friend last summer in the States and worried that the waiter took my card with her to the back. He said I shouldn't worry because two-factor authentication as well as push notifications have made it impossible for someone to make purchases even if they steal your info.

Is it really true? I know whenever I buy stuff from eBay, they always ask me to verify but I get no such notifications when topping up on my Leap Card.

That's it, I rented an "apartment", and basically I had to register the property with an energy company. My agency told me they'll help me but never said anything. I was expecting bills since February but no letter.

Now, I'm leaving the country in one week and electricity never failed, no one contacted me or ask me anything about it. I want to pay my bills.

What should I do? I don't have pictures of the metters before and I don't want them to overcharge me with the months before I started living here.

Could they charge me a penalty?

I'm not a local, in my country this will easy to fix but checking the reviews on Bord gais makes me a little bit afraid.

Thank you in advance.

Can somebody explain this to me? James and John should get €100,000 each back through the DGS to make a total of €200,000.

Dumb question but here to ask it anyways.

I’m 31, I’ve saved up around 40k over the past 10 years. My income has risen steadily over the last four years to 40k a year. There will be a sign of savings in my accounts.

I am renting with 3 others, have been for 6 years, my landlord is planning on selling, I believe the house is going to be around the 400k mark. mortgages.ie is giving me the chance to buy the house (2000 a month tbf but whatever, rent is currently 1800 split 4 ways)

Here’s the kicker. I have no hope of getting a mortgage of 360k on my income from any bank. Is there absolutely nothing to be done? I know I can just buy a different house but this is my home, I’ve put a lot of work into it and I know my landlord would agree to sell it to me privately. I’d keep renting owner occupied, (im single and don’t plan on having kids) would more than cover mortgage.

Any suggestions?

I have an online saver setup with AIB and didn’t pay into it for 3 months and the standing order was cancelled llled will this affect my ability to get a loan in the future from the credit union or AIB?