Minding our pennies as we move out of lockdown

by Gazette Reporter

As Ireland starts the first leg of our road out of lockdown, the MABS Service reminds people to be mindful of changes in spending.

Gwen Harris, Regional Manager with North Dublin MABS explains.

Many households may have noticed savings in childcare, petrol and retail spending such as clothes and household items. So as we move into phase one, people return to work and shops start to reopen, old spending patterns will start again.  

For some people this may not be an issue. However for some of us who have had a reduction in income due to the current pandemic, these increased expenses may be difficult to manage.

Most of us have reported higher food and electricity bills, with everyone at home more. Many of us will also have higher bank charges as we avoid cash payments and use our debit cards more. It is important, therefore, to include these current and expected increased payments in our family budgets

The Money Advice and Budgeting Service (MABS), suggest that you keep a spending diary to help you monitor any extra spending. A spending diary is a record of all money you have coming in and going out. It is a good idea to keep this on a daily basis. This helps you make decisions on what you might want to change in your spending.

There are many ways you can keep a spending diary or plan your household budget. A pen and piece of paper will help you plan your money, or you can visit the MABS website MABS.ie where we have lots budgeting and planning tools for you to access for free.

If you would like help with budgeting or some tips on spending can also call our National. Helpline on 0761 07 2000 or you can email helpline@mabs.ie. The Helpline is open to talk to you from 9am to 8pm Monday to Friday.

We also have a Messenger service that you can access easily on our website www.mabs.ie

The MABS service is free, independent and confidential, offering support to anyone in financial difficulty or people who worry about financial difficulties ahead.

MABS staff are waiting to talk to you.

For the latest information follow MABSinfo on Twitter (twitter.com/MABSinfo) and Facebook (facebook.com/MABSinfo).

Funded and supported by the Citizens Information Board

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