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Saving Money

Your Tips: How to save money this January...

We’re off to buy a piggy bank…

AS WE HIT the halfway point of January, many of our bank balances have been completely depleted and lunch meals are made up of leftover Christmas biscuits and tins of tuna.

We’ve promised ourselves to be more savvy from now on so this doesn’t happen before the next cheque comes through the post. Drink less, quit smoking and dust off the bicycle are all on the ‘to-do immediately’ lists.

To get real, we asked TheJournal.ie readers for their most useful money saving tips and they really came up with the goods. Here’s a few that we collected on Saturday and can’t wait to try:

Shopping

James Kiernan: Commit to using for two weeks (or as long as it takes) any food in your freezer or store cupboard items. You’ll be amazed at what you may have bought, still in a sell by date that can make meals. When that’s done never ever shop on an empty stomach plan the food for the week and make lists when shopping. Stick to it.

Zoe Georgina:

Reuse and find a new use for as much as possible: glass jars are great for lots of things, old wine bottles make lovely water containers instead of plastic jugs in the fridge, put up your white Christmas lights somewhere instead of packing them away. Little touches that don’t cost much but make you less likely to get bored and want to completely redecorate.

Ness Dakota: Buy your birthday or any cards in euro shops. I bought six cards for my nieces and nephews at 59c each. You’d pay over €3 each in general shops!

Zoe Georgina:

Beware of false savings- as in buying cheap shoes, cheap clothes etc. Not saying you need designer gear but “upgrading” shops for your basics can actually save you. I stopped buying jumpers in Penneys and went to Next. I spend double on a jumper but it lasts four times longer.

Fiona Hurley: For the girls: You don’t need fancy pink razors or fluffy makeup removal pads. Buy razors in the men’s aisle and big rolls of cotton wool in the baby section. Also, check out “mooncup” or “diva cup” for time-of-the-month.

Florence Nightingale:

Buy higher quality clothing and shoes but fewer of them. For example, I bought two pairs of branded boots four years ago and I wear them for at least 8 months of each year and they’re still like brand new. I bought them online at a discount so I have two pairs of quality boots that cost me less than €150 all in. And I don’t have to keep buying boots every six months. Invest in a quality overcoat. Good underwear. Buy T-shirts and stuff like that in Penneys. That way you get the most out of the important pieces of clothing while still saving on more “disposable” clothing.

Buy unbranded cleaning products in Lidl. They’re just as good as branded goods but cost way less.

Noreen Thompson: Grocery shop in the evening where possible to get some great discounts on foods close to use by date for immediate consumption or freeze them. I used to steer clear of ‘that’ shelf in better times but now it’s the 1st place I check when shopping, how times have changed! Have got some great deals from it though & feel foolish for being snobby about it before. Go on, give it go!

Diet

Mary Martin:

Am making my own sourdough bread using a homemade grape starter for yeast. Therapeutic watching it form its bubbles and doing all that kneading!

OU812: Do a food audit every two months of your larder presses & freezer(s). Make a list then go to the like of http://myfridgefood.com.

Enter what you want to use & it’ll give you recipes

Podge:

Cut out fizzy drinks for the kids. Not only will you reduce the shopping bill but you will save a fortune at the dentist later. The taxpayer will also save a fortune in funding on diabetes clinics and healthcare costs further down the line. It bewilders me as to why parents let their loved ones drink cola and the like when it is so toxic to their health.

Paddy Downey: Cutting back from two takeaway coffees per day to just one, saving over €400 per year (which is a bit frightening to realise). No, I won’t be giving up the other one just yet!

Fiona Hurley:

If you have a freezer, use it to buy food in bulk and cook in batches. Good meals for freezing include soups, lasagnas, and quiches. Avoid watery veg like tomatoes or aubergines. Buy a whole chicken instead of individual pieces. Cut down on meat, either by eating a few veggie meals a week or by bulking up the veg content of your meals.

Heating and Electricity

John Carroll: Install a solid fuel stove if you can. We installed one last September and now rarely use oil central heating. I reckon well save about €1,000 this winter.

Florence Nightingale:

Work out how much electric you use each week on average and pay it at the post office each week. (A little inconvenient I know but just take a paper bill in with you and add the money on). That way, when you get the bill, you’ll have little or nothing to pay. If you do this, you’ll have less money to squander on unnecessary things such as take-out coffee or expensive sandwiches.

We pay the same whether winter or summer so we always end up with credit during the very cold winter months, which means we can switch an extra electric heater on without fear of a horrible bill coming our way. And with no lump sum of money to find every two months, it’s one less thing to stress about.

Ness Dakota: If your a massive tea/coffee drinker.. Boil a full kettle and put hot water into a flask.. Saves u reboiling the kettle several times in the evening… Kettle is pretty expensive to use!

Holidays and Entertainment

John Carroll:

Book summer holiday flights now and book accommodation afterwards. You’ll save another €1,000 for a family of five.

Zoe Georgina: If you’re in Dublin get yourself a Cineworld subscription. €20 a month (direct debit) and you can go see as many movies as you want. Perfect for going and “doing something” but not spending tons of money.

Florence Nightingale:

If you like the cinema, go to early bird showings. I saw a showing of Gravity last year that cost me less than a fiver.

Administration

John Carroll: Complete tax return and claim everything you can.  We average €500 per annum tax rebate.

James Kiernan:

Do your MED 1 to the revenue on medical expenses. Even if you’re lucky enough to have private healthcare you can still do med 1 on the balance not refunded. The revenue will also then do a P21 balancing statement which could refund you more in overpaid taxes. Keep photocopies of any receipts. You don’t even need to send them in. One phone call will do.

Wishie Jatt: If you are renting make sure you are claiming your rent relief back from Revenue every year if eligible. Always amazed at how many people I know don’t do it!

Coin Collecting

OU812:

Do the 52 week savings challenge.

Put the equivalent amount of euro to correspond to the week number away.
E.G.
Week 1 = €1
Week 2 = €2
The whole way along to
Week 51 = €51
Week 52 = €52

It adds up to almost €1,500 & gets you into a savings habit.

Stephanie Crawford (in response): OU812, I’mdgoing this, but backwards. I put in €52 this week, will put in €51 next week etc. I find it’s too hard to find that €51, €52 in December!

Cutting back

Jane Dickson:

Cancel subscription TV and switch to free view.

Will Hourihan (in response): Did this last year! We now receive all the British channels and all the Irish channels in HD without having to pay SKY for the privilege of having a crystal clear picture. We also have the facility to rewind and pause live TV. There are a lot of crap channels but let’s face it SKY had a lot of crap also.

Honest Tom:

Drive to the pub when going out. Then instead of drinking coke or club orange drink cordials. Drive home. Do that say 6 times a month, even 4 times a month and easily save €300.

Other bits and bobs

Emily Elephant: Get a bike. You’d be amazed how much you save in petrol or bus fares alone. If you do it enough, you can cancel the gym membership too. Of course the serious savings start if you can sell the car.

Florence Nightingale: Wash your clothing inside out. It really does prolong the life of the garment.

Open thread: What are your best money-saving tips?

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62 Comments
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    Mute Craig O Hare
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    Apr 9th 2014, 6:38 PM

    Going to buy an awful amount of sprouts

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    Mute Tony Moran
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    Apr 9th 2014, 6:42 PM

    What’s the max amount of cash you can travel with these days without declaring it ?

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    Mute Figo murphy
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    Apr 9th 2014, 6:43 PM

    Have you not got Google?

    106
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    Mute Dexter Ferguson
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    Apr 9th 2014, 6:45 PM

    Have you not got any manners Figo?

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    Mute James St John Smith
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    Apr 9th 2014, 6:45 PM

    Questions aren’t allowed anymore?

    184
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    Mute Andrea Rock Massey
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    Apr 9th 2014, 6:55 PM

    I think it’s 10k

    187
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    Mute Pinel G
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    Apr 9th 2014, 6:58 PM

    It wouldn’t hurt if the article was to mention the max amount. “Any person entering or leaving the EU via an Irish port or airport must present a completed declaration form to Customs if carrying cash of a value of €10,000 or more”

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    Mute Tony Moran
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    Apr 9th 2014, 6:58 PM

    Thank you Andrea :)

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    Mute Pickart Solny
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    Apr 9th 2014, 7:09 PM

    Isle of Man is regarded as outside the Community for the purposes of cash control Council Regulation (EC) No 1889/2005 and S.I. No 281/2007 An officer of the Revenue Commissioners may; Question a person entering or leaving the State in connection with compliance of their Regulations (Article 5 (2)(a) S.I. 281/2007. Search the person’s baggage or means of transport Article 5(2)(b) Search the person (Article 5 (3)) Seize undeclared cash worth not less that €10,000 (Article 5 (1)) Offence for failure to declare or completion of an incorrect declaration Article 6, S.I. 281/2007

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    Mute john langan
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    Apr 9th 2014, 7:12 PM

    When entering and leaving the EU there is a restriction of 7,500 pounds. This follows the entry into force of a new European Regulation aimed at fighting money laundering, and the financing of terrorism. Customs authorities are empowered under the Regulation to take on controls on individuals, their bags and their means of transport and detain cash that has not been declared. Be aware that the USA will need to know if you are taking in any cash or other exchangeable bond, note etc. exceeding to 7,500 pounds.

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    Mute marmar
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    Apr 9th 2014, 7:17 PM

    10k

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    Mute Andrew Hickey
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    Apr 9th 2014, 7:23 PM

    29 grand. Too bad wha.

    16
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    Mute john langan
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    Apr 9th 2014, 7:23 PM

    10k Sterling €7500

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    Mute Donal O Neil
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    Apr 9th 2014, 7:37 PM

    So €9999.95 cent is ok ? Or would it be taking the pisssia

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    Mute john langan
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    Apr 9th 2014, 7:53 PM

    Perfect.

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    Mute Jamie
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    Apr 9th 2014, 8:16 PM

    Andrea right for once! Well done.

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    Mute theantilooter
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    Apr 9th 2014, 8:40 PM

    9999

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    Mute Paul Roche
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    Apr 9th 2014, 9:09 PM

    This man was not entering of leaving the EU, his flight was Dublin to Brussels.

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    Mute Rónán O'Suilleabháin
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    Apr 9th 2014, 9:13 PM

    Actually 10k is the eu limit but Ireland has it’s own lower limit for undeclared cash of €6,348.69, 5k in old money.

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    Mute Rónán O'Suilleabháin
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    Apr 9th 2014, 9:17 PM

    To correct myself, that’s the amount over which customs can seize your cash, if they have good reason

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    Mute John Byrne
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    Apr 9th 2014, 9:18 PM

    Ask David drumm

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    Mute Pinel G
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    Apr 9th 2014, 9:35 PM

    @Paul You’re right in principle – although you’re still obliged to declare large amounts of cash €10,000 or more to customs even when traveling between other EU countries. EU law still allows individual EU countries to have national cash control measures, provided they’re not excessive, including obligatory declaration. it is not an offence to carry large amounts of money anywhere in europe – as long as you can account for its origin and that its being declared to customs.

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    Mute Michael Neagh
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    Apr 10th 2014, 12:21 AM

    ASK the Nigerians tony ,they would tell you down to the last cent

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    Mute Fin Tastic
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    Apr 9th 2014, 7:11 PM

    In other news, man was illegally stopped, searched, robbed by airport mafia. Mafia declare that man needs to request permission from mob boss to bring his money anywhere. Mafia then place man’s money in mafia bank account.

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    Mute Paul M. Barrett
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    Apr 9th 2014, 7:38 PM

    You’d think he would have sense to take three flights over and back to transfer the money legally? It’s pretty cheap to fly to Brussels and there are loads of regular flights, rather than taking a chance like that.

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    Mute graham galvin
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    Apr 9th 2014, 7:44 PM

    Or just bring two other people with him. 10k a head.

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    Mute Pinel G
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    Apr 9th 2014, 8:09 PM

    Where there’s a will, there’s a way… buy 3 cheap flights or lose 30 grand. what i dont understand is if you are allowed 10k, and say you have 11 – are they allowed to seize the whole just because you didn’t declare 1thousand more over the limit amount?

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    Mute theantilooter
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    Apr 9th 2014, 8:43 PM

    Yes they are if you had 10050 they could seize whole lot. Not to many genuine people need to bring 10k in cash anywhere. Or would want to. Lots of people get around cash restrictions by bringing high value jewellery and then selling it. They post the documents for jewellery to avoid detection.

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    Mute bopter
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    Apr 9th 2014, 8:43 PM

    Paul – actually you don’t have to go to that effort. I needed to fly to London once with €40k and was worried so I phoned the airport and they said to just tell security before you go through that you have more than €10K cash on you.
    They got me to fill in a form and I was through in no time. Effortless.
    If the money is clean you’ve nothing to worry about.

    58
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    Mute Milly
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    Apr 9th 2014, 7:03 PM

    Yes you can only have ten grand if you’re leaving but if you stay here you get to fleece the entire country for a lot more than that and legally too, all you need is a superior public service position…small potatoes this one!

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    Mute bopter
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    Apr 9th 2014, 8:45 PM

    That’s not true, you’re allowed to fly with more than €10k. You just have to tell security before you go through and they fill out a form.

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    Mute Vinny Mulhall
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    Apr 9th 2014, 7:00 PM

    If cash is criminal, why do we accept it as payment.

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    Mute Tarah Ní Bheataigh
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    Apr 9th 2014, 6:48 PM

    Why Tony? How much ya got? :p

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    Mute Mark Lillis
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    Apr 9th 2014, 7:43 PM

    Is there not free movement of people within the EU?

    They probably had intelligence on him.

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    Mute Alien8
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    Apr 9th 2014, 8:54 PM

    I thought you weren’t reporting on Seanie until after the trial?

    11
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    Mute phunkyboy
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    Apr 9th 2014, 11:45 PM

    Just goes to show what a gestapo state you live in when the max is only 10k and anymore you must declare to the nanny state.

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    Mute Kieran brennan
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    Apr 9th 2014, 8:36 PM

    If they believe the money is criminal they can take it no matter how much money is found. The ten k limit is for legal money.

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    Mute Celticspirit321
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    Apr 9th 2014, 6:52 PM

    Why didn’t he join Dragon’s Den amd invest his money like a proper entrepreneur

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    Mute richardmccarthy
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    Apr 9th 2014, 8:44 PM

    With over 40% dirt tax now on savings that have been already taxed at source here, there must be the temptation to move cash to more tax friendly countrys, 30 grand isnt lotto money but there must be a lot more leaving the country in the form of the proceeds of crime or just people trying to keep the government from grabbing what is rightfully theirs.

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    Mute gerry campbell
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    Apr 9th 2014, 7:24 PM

    Nice to see the money going the opposite direction for a change.

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    Mute Markonline
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    Apr 9th 2014, 10:34 PM

    Where does the money end up if it was found to be from the proceeds of crime? Do the state take it or is it burned and written off by central bank?

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    Mute Fergus Gaffney
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    Apr 10th 2014, 3:26 AM

    Any information on who this was? Might have been a Quinn fleeing the jurisdiction? or a relative of john Gilligan bring him some of his loot?

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