Late to this but one thing I started to do was to look at purchases in terms of time vs the price on the tag. So rather than thinking 'That costs X amount,' I think 'That costs X numbers of hours at work.' That voice saying 'Go on, you can afford it,' gets quieter when you realise that you need to spend four days at work to pay for it.
You're the Irish Dave Ramsey, Malone! I found your channel last week while researching about pensions and I am very happy with the content. Keep it up! Educating yourself about finances and putting the principles in practice is the best possible money hack someone can do.
When it comes to cutting back and doing things that save you money. ie. Switching utility provider, or submitting work from home expenses. Think in terms of what that gives back to you on an hourly basis. Submitting my WFH expenses is 40-60 minutes of work and is worth €200 to me. That's €200 an hour and is definitely a worthwhile use of my time
1. Pay my self first. 2. Save money, 3. Never sit on saving for more than 12 months, 4. Invest mostly in real estate. Its just what I know. 5. Stay away from stupid debt. 6. Try to enjoy the process
When it comes to plant based food being cheaper, I'm surprised at how cheap meat is: I can get a kilo of pork for around 5/6€. that could last several days. Vegetables for the same amount wouldn't last me as long (I think). I´m trying to keep the meat bit low though.. (reasons you mentioned..)
I suppose there's always going to be price variations depending on where you live. The macro reports seem to unanimously agree that plant based diet is cheaper in the long run
You may think that is cheap but as somebody who is vegan that's very expensive, I'd have 5KG of cooked lentils for that, 10KG of potatoes etc, my groceries are incredibly cheap.
Hey Malone, would you please make a video on how to become a financial advisor in Ireland? Like what courses are available, what certs you need and possible job opportunities This is something I've been thinking about in the past few months as a possible extra income and/or change of career
Great content as per usual sir. I really like the segment on the benefits of plant based diets! Eating grains pulses and legumes as you stated are not only healthier but more sustainable, cheaper and animal friendly. Your thumbnail game is also on point:D
Could you do a (short) video on Irish contributory and non-contributory pensions? I.e. old-age pensions. What are we paying PRSI for and will there be anything left in the pot in NN years time? Also, means tested etc. I know plenty of old people who get a private pension (technically, drawdown of an annuity from the paid--up/completed pension) and then exceed thresholds for OAP etc. and get nothing. If it's in your area that is...Thanks.
I'm deffo going to try the recipes. Speaking of, why are PRSA's so godly expensive. The concept of "contribution charge" is completely new to me as someone that just arrived in Ireland. Is that the norm here or am I just looking at the wrong providers ? Great video as always.
Awesome, let me know what you think of them! Yes unfortunately those accounts are notoriously expensive, best bet is to shop around and try and get good value. Or find an employer that offers their own scheme.
A plant based diet is a money hack?? Your advice is normally so seller, but that one is quiet weak in my opinion. Great video otherwise & excellent content as always. Keep up the great work, you're adding huge value with the content you're putting out.
Appreciate the feedback and thanks for the kind words on the content. I'll just provide a brief note on why I included it just so you can see my perspective. The loose definition of a money hack is "a simple, effective and usually painless act to reduce the amount of coin one spends". As I mentioned, multiple research studies have shown that even flexitarian diets reduce food expenses. Therefore for someone who doesn't mind reducing their meat intake, it's a fantastic way to save on cost. I think it's a more than fair suggestion that holds its weight with the rest.
@@malone_financial In terms of the normal standard of advice you give that's one that simply doesn't "MEAT" it for me 😅 but of course it's an opinion & not a criticism at all, I was just hoping one of the hacks was a brilliant stock to invest in 😂 but keep up the great work my friend. Your video on how marriage affects tax was incredible information & hugely beneficial to my wife & I when registering our marriage & I'm a huge fan of your content & look forward to seeing this channel grow.
@@nononsensecocktails1432 Appreciate it man, delighted to hear you're finding them valuable! Always feel comfortable to contest anything I say, it's all about having a healthy dialogue. Differing opinions are what makes it interesting!
I'd say it is a money hack to spend way less money on basic necessities, does take some effort to learn about what to eat and how to cook it well though.
"Avoid debt if at all possible" - I'm not sure I can agree with this. If I have 100K & use it pay pay for my house then I avoid interest costs of say 3% over 20 years. If instead I mortgage my house with the bank & use my 100k cash to invest I am realising tjhe opportunity of 20 years of market exposure which is probably going to be >3% per annum, right?
Hi Ger, I was more so referring to high interest personal loans and variable rate mortgages at high property valuations, especially given the current interest rate climate (pretty much anything that can lead to excessive interest payments). In the hypothetical scenario you’ve presented you would be correct, but it’s not what I was referring to. Cheers.
hey Malone, what's the best way or type of investing to use in ireland if let's say I want to put into the S&P 500, as I have a trad zero account but that's just individual stocks, and I don't really trade as much anymore just buy and hold
Hey Tom! I personally use DEGIRO for all my investing activity (including investments in the S&P 500). I have two videos covering the platform on the channel which you should check out
Ah lad if you're vege meals are nicer than your meat inclusive ones then you're doin somethin wrong. I get where you're coming from tho and obviously you cant be tuckin into a big steak if your other half is havin a veggie risotto or the likes.
@@malone_financialara sure whatever floats your boat. 🥗🍚🥚👍 Watchin US based channels and all the tax advantaged investments over there is 🥜🌰's . We dont have the half of it here
