Ever wonder why interest rates are cut when the economy is struggling, and hiked up when the economy is booming? The rationale is actually pretty straight-forward; when you cut rates, borrowing costs decrease prompting businesses to take loans out (cheaper money) to increase manpower and expand production. The goal is to create a scenario where…
‘In the first seven months of 2020 (Irish) households saved €9.8 billion. This is €5.5 billion more than in 2019 and €7.3 billion more than during the corresponding period in 2018’* Yes, you did read this right. Almost €10 billion went into Irish banks in 7 months and that figure will finish well in excess of the…
‘Firsts’, they’re so nerve-wracking, especially when it comes to parting with money and going for your first financial investment. But no matter where you are in the world, the concept of ‘investing’ is the same. It starts out with the same questions: What is your attitude to risk? What is your long-term financial goal for…
Should you pay off your mortgage early with excess cash? Any answer given to this question, without knowing the specifics of your mortgage, corresponding interest rate or term and personal financial circumstances, should only ever be read in terms of high level information. It is not a ‘one-size-fits-all’ answer. Always look for advice from your…