Finance Help

The current economic climate has left many households struggling to cope to make repayments on the mortgage and pay other bills, which has lead to people cancelling some of their insurance policies, in particular their car insurance.

Coupled with increasing taxes, a lot of the Irish population are facing some serious financial times, which have lead to money experts coming up with advice and ideas to help people increase their income.

These ideas include:
•    Think about purchasing a more economical car, which could help to see savings made of around €900 a year. If someone uses a car and drives it 18,000 miles per year and the car averages 25 miles per gallon, it will cost around €3,100 to run. Using a more economical car that averages 35 miles per gallon will costs just €2,200 for the same amount of miles covered. These savings can then help to pay for your motor insurance bills and road tax for the coming year.
•    Many motorists have opted to join a car pool scheme to save money, as an average car driven for 10,000 miles over a 12-month period will cost around €1,800 a year in petrol. However, by being part of a car pool or car-sharing scheme with just one other person will see people halve these costs.
•    Consider taking on a second job if possible as these can pay good money especially ones that ask people to work unsociable hours or at night. If it is a low paid job like working behind a bar in a local pub, tips can help to make up any financial shortcomings.
•    People should think about whether they can rent out a room in their house, as they can earn €10,000 a year, tax-free, just from renting out a living space in their home.
•    Couples are eligible to child mind up to three children and as long as they earn no more than €15,000 a year from it, they will not be liable to pay any tax.
•    Another moneymaking idea involves selling any unwanted items at an auction, on an auction website, or at car boot sale or market.

Rochelle Martinez, Freelance Web Content Article Writer for three years. Some of her articles are about http://www.quinn-direct.com.

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