Have a financial health check-up

Ten top tips to help you deal with the cost of living crisis

- BARBARA McCARTHY

WE KNOW the importance of looking after our physical and mental health — but what about our financial health? 

Many of us are living from month to month, trying to keep up with ever-increasing outgoings in a cost-of-living crisis.

Figures from Bank of Ireland in 2022 found one-third of Irish households are just making ends meet.

According to Elevate Financial, over one in four people aged between 55 to 69 have no savings for their retirement.

But the size of our bank balance shouldn’t deter us from managing our finances, according to money expert Sean McNulty.

Mr McNulty runs Ireland’s first financial planning app — rethinkmoney.ie — a kind of money advisor in your pocket.

“There’s a misconception only wealthy people need financial advice,” says Mr McNulty “Everyone, especially in these current times, needs financial advice on an ongoing basis, big or small.”

Thanks to modern technology, our personal finances are easier to manage than ever, so why not start your financial check-up now.

Here’s ten tips for good financial health, according to Mr McNulty.