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Advice: 7 budget tips during the crisis

Kilkenny personal finance expert says focus on what matters most

As many Kilkenny Carlow households are trying to get their heads around financial pressures, we ask KCLR resident personal finance expert, Gerry Farrell for his top tips for budgeting during these difficult times.

1: Focus on what matters most – and while we are all concerned about our finances and our financial future take some time to focus on what matters most – family, health, friends and community.

2: Ensure you avail of what you are entitled to – Pandemic Unemployment / Temporary Covid19 Wage Subsidy Scheme/ Bank and agency finance support for businesses.

3: Prioritise on bills and spending – so most discretionary spending is now parked so outgoings will have reduced.

4: Mortgage / Rent – avail of government-backed supports here if needed – speak with your lender / landlord – engage early.

5: Utilities – speak with your utilities provider(s) – again engage early.

6: Avoid additional debt – beware of short-term money lender debt.

7: Remember – the whole world is caught – you’re not alone.

Gerry Farrell is a personal finance expert and manager of Castle View Financial Services, and a regular contributor on KCLR Live at 10.20am each Tuesday morning. Gerry is offering free, no obligation advice to all as we steer through this unprecedented situation.

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