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Alright fine, we'll admit it. This episode is about pensions. But we're unpacking them in a way that won't melt your brain, we promise. Whether you've started late or haven't even taken one out yet, deputy business editor Dominic Coyle explains:
How to start from scratch, or level up a basic pension plan
Understanding jargon
How employer contributions can help double your pension pot
How to maximise the state's contribution
Ways you can offset the disadvantage of starting later
How the gender pay gap affects women's pensions
Sneaky charges you need to watch out for
Don't think of it as a pension. Think of it as a bucket list fund for your 'second act'.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
Dominic answers your personal finance questions every week in The Irish Times. You can send your queries to dominic.coyle@irishtimes.com
For more jargon-free and impartial pension tips, go to the Competition and Consumer Protection Commission (CCPC)
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What’s traditionally been known as the ‘nixer’ in Ireland, is recognised more widely on social media as the side hustle
.
Most people’s understanding of the term is additional income that supplements a person’s PAYE earnings.
As with many other trends, Instagram and Tiktok’s algorithms churn out an Americanised version of the phenomenon where grind culture is revered and stories of multi-million dollar businesses - born on smartphones while loading the laundry - are legion.
But as with other viral social media movements, the reality is often very different and has its own nuances specific to an Irish context.
At a time when many people are living pay cheque to pay cheque the allure of additional income - gilded with the Paris filter - is obvious.
So what side jobs are available to those of us already working 40-plus hours a week?
How do assess what work would work for you? Will be worth the extra effort?
Deirdre O’Keeffe from burdy.ie is a Kildare-based book keeper and mentor who coaches clients through the process of choosing a side hustle, figuring out how to make it work and crucially, understanding their tax liability.
In this episode of Better With Money she explains the process she goes through with them, how to spot scams and how side hustles can be valuable exercises in testing out a business idea.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
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If you've always thought investing is only for high-earning, suit-wearing, happy-hour cocktail swigging finance bros, Kel Galavan - aka MrsSmartMoneyHQ - is here to tell you why you're wrong. The Qualified Financial Advisor was in six figure debt after the 2008 financial crash, but has since turned her financial life around and now coaches others who are new to the investing game. In this episode she explains why saving is not enough and how the way to secure your financial future is with a long-term, lower-risk strategy. If you don't know your stocks from your shares or your IPO from your EFTs, this episode is for you.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
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Are you in the fortunate position of being able to save for a home or you're hoping to buy in the next few years? Purchasing a property in Ireland, especially when you are new to the process, can be daunting task at the best of times. But with the current housing crisis it’s tougher than ever and that’s before you even get to the stage of dealing with auctioneers, banks, quantity surveyors and solicitors. Miriam Finn is a buyers’ agent. A former estate agent, where she only represented the vendor, Finn switched sides and now takes buyers under her wing helping them through the marathon process. In this episode she sets out the timelines involved, explains how to put your best foot forward as a potential mortgage candidate; and shares her insider knowledge as an estate agent with bidding strategies, picking the best solicitor and asking the right questions of sellers.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
Resources mentioned in this episode:
Help to Buy scheme
More information on various state help and grants
CCPC mortgage money tool
Price comparison web sites like Bonkers and Switcher analyse the best value mortgage loans on the market
Check if a prospective property is on a flood plain
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In the aftermath of the financial crash, Ann-Marie Gaynor was getting over a marital breakdown, lone parenting three children under 7 and in five-figure debt. A self-described Celtic Tiger baby, Gaynor says she only ever saw her credit card limit as a target and would apply for a new card once she'd maxed out another. In this episode she shares how she turned her life around; kicking the debt, clearing her mortgage and now encouraging her social media followers to regain control of their finances too. The Longford woman who goes by the name @IrishBudgetingMammy is sure others can tackle their debt even now during this cost of living crisis.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
Resources mentioned in this episode:
Money Advice and Budgeting Service
Other links you may find helpful:
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Stephanie Barry Woods and her husband Tim quit their jobs in 2016 to travel the world. They haven't lived back home since. The Cork native goes by @StephMyLife on social media where she shares all her best travel tips, as well as how she and Tim managed to save €100,000 in four years to fund their adventure. In this episode, Steph elaborates on what she did as a formerly financially illiterate twenty something to become an astute saver. Conor Pope also joins the podcast to explain the different savings options currently on the market, and where you might put your money should you be in the fortunate position to do so.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
Resources mentioned in this episode:
Stephanie’s savings plans
Bonkers and Switcher both compare credit card balance transfer options.
The Competition and Consumer Protection Commission has a regular savings account comparison tool
FinTechs such as Revolut, Bunq and N26 provide competition to Irish pillar banks
Raisin allows you to save money in dozens of EU banks that may offer higher interest rates
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Your earliest money memories might be sabotaging your present day finances. That top you bought after a bad day at work? That savings account you keep meaning to open? Or that skimping you do on the bill at the end of a meal, that makes your friends’ eyes roll... Most of these behaviours can be traced back to attitudes and beliefs around money that we formed in childhood, according to Emma Edwards of The Broke Generation. In this episode we speak to the finance writer, podcaster and author about the narratives we carry into adulthood that get in the way of our fiscal well-being. Edwards explains how to figure out our subconscious beliefs around money, why you shouldn't skip this step and how self-discovery can break the cycle of self-defeating behaviour.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
Resources mentioned in this episode:
Good With Money by Emma Edwards is available in all good bookshops
The concept of money mindset categories were popularised by the financial psychologist Dr. Brad Klontz
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If you’re struggling to budget and wondering where you’re going wrong, Irish Times consumer affairs correspondent Conor Pope has you covered. From spending tracking to goal setting to switching providers, Conor breaks it down into accessible steps without bombarding you with jargon or berating you for your love of oat milk lattes. Yes, this stuff is hard but is possible to budget in a way that’s empowering and motivating.
Better With Money is for information purposes only and does not constitute financial advice.
Presented by Aideen Finnegan. Produced by Declan Conlon and Aideen Finnegan.
Resources mentioned in this episode:
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If you’ve always been a bit a mess with money, and it’s really time you got your act together, Better With Money from The Irish Times is the podcast for you.
Whether you’re brutal at budgeting, interested in investing or hoping for your own home - we speak to people who’ve been there and done that, to explain the “yeah but literally how”?
So don’t feel bad if you don’t know your assets from your elbow – check out Better With Money from The Irish Times.
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