moneysherpa.ie the Irish money guide has launched a new free online tool to help hard pressed households manage their money.
The inflation savings tool helps Irish households calculate how much they could save by switching services or changing money habits.
The tool shows that the average household can save €13,917 in total per year.
- Over €5,114 a year by switching their grocery, TV, mortgage and energy suppliers
- Over €4,050 a year by ditching credit cards and claiming tax reliefs
- Over €4,753 a year by cutting out discretionary day to day spending on drinks, sandwiches and cigarettes
The new tool is available on moneysherpa.ie for anyone to use and gives an individual rundown of potential savings in less than a minute.
Commenting on the release of the tool Mark Coan founder of moneysherpa.ie said,
“With inflation now hitting a 40 year high, many are struggling to make ends meet. The average household can still save plenty though by switching and changing their money habits”
“That said, no two households are the same. So we built a free tool to help people work out where they can actually save in the real world. Our goal is to give a little bit of extra help to households struggling with the cost of living crisis.”
You can access the inflation savings tool here .