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SAVING MONEY IS a core part of almost every big life stage – and buying a house is one of the biggest life stages of all.
The thought of saving toward a large lump-sum goal like a mortgage deposit can throw up different feelings for everyone. For some, it’s a welcome challenge, while for others, it can be a little daunting.
Like anything else though, once you get into the habit of putting money away each month, it becomes easier to maintain that pattern.
So where are you at with your savings goals, what could be improved and what should you be giving yourself a pat on the back for?
Answer the questions below to compare your savings habits to other readers. Each time you give a rating, you’ll see how your number matches the overall reader average. Let’s start at the beginning, with your general attitude to saving…
Already a lifelong saver? Nice going! But if you’re the type who’s not thrilled by the idea of building up a nest egg, here are some pointers…
Put a positive spin on things: “Take a mindful approach to saving, rather than turning it into something you ‘have’ to do,” suggests Kelvina Galavan, budgeting coach and founder of Mrs Smart Money. “You work hard for your money, so slow down and really consider how you spend and save it.”
Have a no spend day: “Aim for at least one day a week where you don’t spend any money beyond essentials and groceries,” says Kelvina. “This is a great trick for encouraging mindful saving – and you might find you can manage more than one no-spend day a week.”
And if you haven’t already – set up a savings account: It pays to save, and just starting a separate savings account is a great first step. That way, you can track your progress to see just how well you’re doing. Compare savings account types and find the right one for you using permanent tsb’s handy comparison tool here.
Now that you’ve considered your savings personality, let’s see how close you are to getting that mortgage deposit together…
Happy with your progress to date? Great news! But there’s always room for improvement. “People have become more and more aware of their spending and saving habits in recent months,” says Paddy Delaney, independent financial planner with Informed Decisions. Below are some more tips for reaching your savings aims quicker…
Set a goal and commit to it: Have a figure in your head that you want to reach, like a lump sum amount for your mortgage deposit. Doing this will motivate you to save more regularly. If you want that vision of your dream home to become even clearer, use permanent tsb’s Mortgage Calculator to figure out how much you’ll be able to borrow, as well as calculating your monthly repayments.
Top up your savings when you can: “Some people have found they have more left in their account at the end of the month these days, while other people may be earning less and so can’t save as much as they’d like to,” says Paddy. If you do find you have some funds leftover at the end of the month, put an bit extra away.
Up next – let’s see how sharp your budgeting skills are…
Time to give yourself another well-deserved pat on the back if you’re already a budgeting pro. But if you’re the type who’s dreaming of payday by one week into the month, here are some smart tips to get you closer to your mortgage goals…
Look at your monthly incomings and outgoings: The first step is sitting down with a pen and paper (or laptop screen), says Paddy. “Figure out what you’re spending and saving, and look at ways to decrease the money going out.”
Set your own Budget Day each month: “A key principle that many people find helpful is to only spend what you have left after putting your savings away,” says Paddy. “Work out that figure at the start of the month, rather than realising in week four that you’ve overspent.”
And make the most of online tools: For example, the CCPC has a handy budget planner to help you tot up your income and expenses. You’ll find more tips and tools on permanent tsb’s Saving For Your Home hub.
Start your journey home with permanent tsb. We know that buying your first place is a big decision, and we’re here to support you every step of the way. Use our Mortgage Calculator to find out how much you could borrow, or book an appointment today.
Calculator results do not constitute an offer of a mortgage loan, nor is it legally binding and is for illustrative purposes only. Product eligibility criteria applies. Lending criteria, terms and conditions apply. Security and Insurance is required. permanent tsb plc. is regulated by the Central Bank of Ireland.
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You didn’t tell me everything I wanted to know, because I want to know how did that untalented gobshïte get the gig? It couldn’t possibly be because he ‘works’ for RTE and they look after their own, could it? Why oh why are RTE determined to created a career for this non talented, bland z list celeb?
Australia are in it that just proves how ridiculous it is
That old chestnut again.And London and New York and in the ALL IRELAND championship. What does that prove.
Ireland have no chance… Appalling song and a second rate singer who can’t even hit some of the notes…
Correct-he cannot sing, never could. There are genuinely talented singer songwriters in Ireland scraping by. What they would do to have that oppurtunity, that publicity and the chance to open up some doors to pave themselves a deserved career in music- doung something they love, something they are passionate about. This Nicky Byrne fella hasn’t a note in his head,never had to do an audition..he just git the gig. Then again he works for RTE (how did he get that gig as well?) and his father in law is Bertie Ahern. Call me cynical but…
Never had the chance and never will since the televoting came about.
Hilarious ! the man has no chance he can’t sing, we need a voice that has you interested in the first five seconds and has you hair standing up within a minute, like the chat show stick to it buddy. Saying that I think we are going in the right direction we need to try harder before the Sweds knock us off our perch
You are cynical.Who would you pick for us to send so?didn’t we send a young passionate singer starting out in the music business last year and where did that get us.non qualification from the semis. That’s where.
*Ireland* is not competing. It’s a competition between broadcasters.
There’s always backing singers and I suspect, like with Jedward, the male singers will actually carry the tune. The few snippets of the record I’ve heard sound autotuned to feck.
Every time you see his smirking face all I see is his father in law smirking as he sail into the sunset with our hard earned taxes in his back pocket ( not to mention his winning on a horses). This is the first time ever I really hope Ireland doesn’t do well.
Another cringe worthy entry from Ireland
Makes Ronan look talented
#cringe
I think this years entry is ok, Nicky Byrne is likeable. It wouldnt matter who we send, we will still end up with a few points from UK and i will still be sticking my 2 fingers up at the TV and cursing every Polish, Russian and German etc for not voting for us
Will you be cursing Ireland for not voting for them?
Every thing you wanted to know? Most people just want to know what time the results are announced.
typical Irish incestuous set up, RTE give the gig to Bertie`s son-in law, no competition, done deal, with no hope of winning either.
Eurovision wrong contest
Would love to be invited to one of those great hilarious Eurovision parties people have that night with tinsel and feather boas…. Said no person with a life ever.
You’re right, anyone with a life spends all day commenting sh!t€ on the Journal instead.
Please God not Marty Whelan! I’d much rather hear from Marty Morrissey, there’s a man who is positive, well-spoken, and doesn’t whine like a spoiled child. Whelan makes me ashamed to be Irish (the only thing that really does, other than we still compete in the Yoyovision). I’ll watch, of course, as it’s family tradition. But I’ll watch Auntie Beeb, as Graham Norton is marginally less annoying, and get the voting det’s at the last minute.
IRELAND NIL PUA!
Would be better off sending a more talented individual like…….Dustin the Turkey…
I bet few of the millions of people who voted for last year’s winning song could name the singer or sing a line from the winning song! The glory days of Eurovision, when getting a winning song was a launching pad to international fame and fortune are long gone. It’s time to relegate the whole competition to the archives of quaint 20th century tv shows.
Complete talentless garbage. Remember this? https://www.youtube.com/watch?v=gcsXtiN8-UY
Who cares !!!
We couldn’t have sent a better person than Nicky Byrne he is amazing and I just love the song we won’t win cos all the countries vote for their neighbours so all we have is England so it doesn’t matter who we send we will never win it again but Nicky is lovely I met him and I wish him the very best of luck
Very bad intonation on his voice. Of course it could be just bad monitoring as that can happen on live TV so the gig will tell us all as they should have it sorted. Either way it won’t excite the political voting blocs. The only way we’d ever win it again is by moving the country to between Croatia and Serbia or somewhere and leaving brown envelopes for the adjudicating panel in the semifinals.
Lazarev is no Kirkorov nor Bilan, cant see him winning this.
Will it be another freak show this year?
It’s a load of nonsense music is crap should not be shown on prime time tv
Daragh, How much will it cost Ireland this year as each year we have to give them millions to be involved in it?
Believe me when I say there’s nothing I want to know about this years Eurovision!
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