As the overall cost of living continues to rise, South Munster MABS says budgeting has never been more important. From fuel hikes to the increased cost of energy and heating your home, it’s important to stay on top of these expenses and to make the relevant adjustments to your budget according to Ursula Collins, Regional Manager, South Munster MABS.
“With the costs of utilities and various essentials continuing to rise over the past year, this has, and will put a lot of individuals and households under increased financial pressure," she said. "The first step in taking back control or staying on top of your finances is budgeting.
“Budgeting is an important activity that helps individuals and households to better forecast their spending, identify where savings can be made and overall, assist in making more informed choices.
Having established a good starting point with a comprehensive budget plan, MABS recommends people ake time to look at rights and entitlements, for example, health expenses and income tax credits.
They should also shop around - 'with costs on the rise, compare prices for food, gas, electricity, phone and internet, making sure you’re aware of your renewal dates'.
MABS also recommends people start a rainy-day fund.
MABS is reminding everyone that help is available if you're worried about finances. MABS are available by phone on their National Helpline on 0818 07 2000 from 9am to 8pm Monday to Friday.
For more information on MABS and their budgeting resources, visit www.mabs.ie.