The beginning of 2025 has brought a sense of financial uncertainty for many – including the high cost of living and new trade tariffs under Donald Trump have made it even more difficult for people to gain control over their finances.
Our latest 2025 research found that the biggest things that employees have given up on over the last 12 months are savings (29%) and financial concerns over the next 12 months include not being able to pay for basic living costs such as household bills, dental and vet etc (39%), and plans to buy a home (27%).
However, there a steps people can take to improve their financial situation and to help we have listed 5 tips to help people take control of their finances this season.
1.Create a budget that works for you
Start by understanding what money is coming in and going out each month. Include everything – rent or mortgage, childcare, loans, groceries, subscriptions and utility bills. Once you see it all in one place, you’ll know where you stand and where you can make changes.
Tip: use a budget planner tool like the one available from the CCPC, it’s free!
2. Manage your debt smartly
If you have debt, make it a priority to tackle the most expensive ones first. For example, credit cards or over drafts can have interest rates of 13.8 to 23%. Paying a bit more than the minimum can save you hundreds in interest and shorten the time it takes to pay off.
Tip: Look into lower interest options like a credit union loan or Revolut.
3. Build an emergency fund
An emergency fund or known as a ‘rainy day fund’ is money you set aside for unexpected events in the future like a car repair or medical appointment.
Tip: Aim to build up enough to cover 3-6 months of essential bills. Set up a separate savings account and automate a small monthly transfer.
4. Shop wisely
Switching brands and planning your weekly shop in advance can help cut grocery costs. Look out for deals, use discount codes online, and check if your employer offers any savings perks. This can really help when unexpected expenses pop up.
Tip: Try using a shopping list app to stay on budget and avoid impulse buys like AnyList.
5. Be scam smart
Over the last 12 months, 94% of the population have been targeted by scammers. Fraudsters can sound completely legitimate and it’s easy to see why so many are fooled.
Tip: Check if the company is authorised via the Central Bank of Ireland’s register. You can always report scams to FraudSMART.ie
