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Reflecting Ireland: Getting on top of your finances in 2024

10 January 2024

Our latest issue of Reflecting Ireland explores how people are feeling about 2024 and reveals the most popular New Year Resolution is to sort out our finances. We all want to feel in control of our finances, rather than feeling our finances control us. There are things you can do to make your money go further, and the start of a new year is a good time to think about this.

We’ve teamed up with Claire Cogan of BehaviourWise to bring you 5 tips to help get you started, so you can begin 2024 with financial peace of mind.

Use an online budgeting tool or app

There are a variety of online budgeting tools and apps that are easy to use and free of charge. A budgeting tool can help you monitor your spending and gives you a clear picture of where your money is going so you can identify areas where you might be able to cut back and save.

Try the free budget planner or spending calculator from MABS, the Money Advice and Budgeting Service, or the budget planner or spending calculator from the Competition and Consumer Protection Commission (CCPC). Unlike some online budgeting apps, these do not require access to your bank accounts or personal data.

Compare and switch

Save money on your regular household bills by comparing providers and switching for better deals. There are lots of online comparison websites that make this process as easy as possible for you. Some time spent on these sites and tools will deliver savings that will last throughout the year.

Build a buffer

If you have money to spare, save at least some of it. Our Reflecting Ireland research shows 3 in 10 plan to save a regular amount each month in 2024 and 4 in 10 when there is money to spare. There are savings accounts to suit every need, from regular to ad-hoc savers and from those that need instant access to those who can afford to put money aside for a while.

Whatever your needs, talk to your bank to see what account is right for you. Your savings will build over time and act as a financial buffer.

If you are saving for something in particular, it’s a good idea to label your savings to remind you what you are aiming for and keep you motivated. PTSB allows you to give your savings account a name for this purpose. If you have children, encourage them to start a savings account; it’s a great way to build a lifelong savings habit.

Check your entitlements

Many are not aware of the financial supports they are entitled to; or may be entitled to if things go wrong. If you feel there is a chance your personal circumstances may change in 2024, it’s a good idea to plan ahead and find out what supports you may be eligible for.

When Budget 2024 was announced on 10 October 10, Minister for Finance Michael McGrath noted that Irish taxpayers may not be claiming their full entitlement to all available tax reliefs. In 2022, potential refunds unclaimed by taxpayers amounted to €180m according to Revenue (1).

To check what tax reliefs, refunds and social welfare supports you might be entitled to, visit:

Sort out subscriptions

Many of us pay regular subscriptions for products and services ranging from video and music streaming to newspapers, lifestyle apps, food and drink and more. While a subscription model is a convenient and cost effective way to pay, it is also easy to put to the back of your mind.

It is a good idea to check through your subscriptions once a year and ask yourself if each service is still worthwhile and delivering value for money. If not, it may be time to cancel.


The content of this blog does not constitute advice and is for general information purposes only. Readers should always seek professional advice before relying on anything stated in the blog. Some of the links above bring you to external websites. Your use of an external website is subject to the terms of that site.

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