Airgeadas pearsanta1 nóim. léitheoireachta
A yearly money check-up: five things worth reviewing
Twenty minutes once a year can save real money. Five things to check, from your tax credits to the rate on your savings.
Ó Irish Fintax Tá an t-alt seo scríofa i mBéarla.
Ar an leathanach seo
Most money mistakes are not dramatic. They are small things left unchecked: a credit never claimed, a savings rate that quietly dropped, a fixed mortgage that rolled onto a higher variable rate. A short review once a year catches most of them.
1. Your tax credits
Log in to Revenue's myAccount and check your tax credit certificate. Make sure your credits match your situation, especially after a change such as marriage, a new job or a new child.
2. Reliefs you can claim back
Some reliefs are not applied automatically. Medical expenses, for example, can get tax relief at 20%, and you can claim for up to four previous years.
3. Your pension contributions
Pension contributions get income tax relief at your highest rate, up to a limit that depends on your age. If you pay tax at 40%, every €100 you put in costs you €60 after relief.
4. Your mortgage rate
If your fixed rate has ended, or ends soon, compare it with what other lenders offer. Switching takes some paperwork, but on a large balance even a small difference in rate adds up over the years.
5. Where your savings sit
Check what your savings earn after tax. A deposit paying 2% gives you 1.34% after DIRT at 33%, while State Savings are tax-free.
Tools that help: the income tax calculator, the mortgage calculator and the personal investment planner.
Faisnéis ghinearálta amháin, ní comhairle airgeadais, chánach ná dlí. Athraíonn rátaí agus rialacha agus is tábhachtach do chúinsí féin, mar sin seiceáil le Revenue nó le comhairleoir cáilithe rialáilte sula ndéanann tú cinneadh mór.
Athbhreithnithe ag Arif Bhuiyan, FCA, ACA, MBA, MSc agus ag grúpa gairmithe airgeadais in Éirinn ar mian leo litearthacht airgeadais a dhéanamh níos éasca do dhaoine in Éirinn.
