Savings

Protecting your household finances from inflation.

Inflation is the measure of the rising cost of goods and services over a given period of time. But its dramatic arrival globally over the past months means that many people may be caught out by how sharp the rate of inflation is. The massive increase in the cost of electricity, petrol and food poses a financial challenge for everyone.

Why talk of inflation matters to your money

Over the course of the last 12 months or so, there has been an increasing amount of discussion on the possibility of inflation taking off or rising significantly from where it is today.

3 Easy Money Hacks for Your Personal Finances

1. Pre-set savings accounts One of the best ways to save is to set money aside before you get a chance to spend it. Setting up a pre-set savings account through a current account or directly from your wages means that money is put out of temptation of being spent. Many members of St. Joseph’s Irish Airports & Aviation Credit Union can, for example request their employer set an automatic deduction from wages and sent directly into a savings account with the credit union.

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