Well, at the moment, the best regular savings accounts are as follows: AIB/EBS, offering 1 per cent interest, and State Savings, 0.98 per cent .
Typically, your money will be covered by local deposit protection schemes, but this is worth checking out, while tax issues might also apply.Cash, as the saying goes, is king, so you can’t beat having three to six months’ wages on hand for emergencies as they spring up. And, if you’re saving for a particular goal, such as a house deposit, opting for a savings account is often the safest option.
Another option is an exchange traded fund , which you can buy from an online broker such as Degiro. Fees can be as low as 0.1 per cent a year for a similar product. This means savings of €90-€140 a year on an investment of €10,000.Well, ETFs may be a cost-efficient way of investing but tax rules are complicated in Ireland, which makes them trickier. With insurance companies such as Irish Life, tax is done for you by the company; with ETFs, you have to file tax returns yourself.
Renowned investor Warren Buffett recently described bitcoin as a “gambling token” and said investing in it is like “playing the roulette wheel”. Instead, he said, he would put money in assets that “do something”, such as farmland or apartments.No one likes leaving money behind and yet every year thousands of taxpayers neglect to chase money they are owed back from the taxman.
Single person child carer credit is worth €1,650 a year, and it’s also possible to earn a further €4,000 at the 20 per cent tax rate.