Ireland’s Guide To Money And Living

Consumer watch

Consumer watch
Pension dreams

Have you been dreaming of retirement? Looking forward to spending your golden years on a beach in a tropical country, only worrying about what delicious treat you’ll have for dinner?

According to The Irish Times‘ Fiona Reddan, there are a number of factors you’ll need to take into account, apart from the local climate, including taxation, living costs, income restrictions in various countries and other issues.

“While retiring abroad has never been as popular with the Irish as it has been with our neighbours across the Irish Sea, it may well grow in popularity. More sunshine, better healthcare, cheap wine, a slower pace of life; the reasons to move abroad are plentiful,” Reddan writes.

It might be a bit of a hassle now, but it’ll be worth it when you’re sipping a martini on the balcony of your new apartment in Portugal.

Community banking

In other news, the closure of institutions is nothing new for rural Ireland, from Garda stations to post offices. However, one rural town is fighting back following the loss of two bank branches, and has created a ‘hybrid community bank’ according to Charlie Weston, writing in the Irish Independent this week.

The post office and credit union have combined forces to ensure that the people of Glenamaddy, Co Galway can access financial services. “The initiative is being dubbed a community bank, and is helping to ensure townspeople do not lose out when it comes to financial services following closures of the Bank of Ireland and Ulster Bank branches in the past few years,” says Weston.

Pick up your punts

Finally, an estimated €350 million worth of unclaimed old Irish currency are still in circulation according to the Central Bank. According to an article in the Irish Examiner this week, old Irish punt notes and coins continue to be be cashed in, with around €351m brought in for exchange in 2016 alone.

Should you happen to find some punts down the back of your couch or in an old jacket, the Central Bank facilitates the exchange of old banknotes and coins for euro.

 

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When not writing about all things personal finance, You & Your Money's editor Conor Forrest enjoys reading, football and getting lost in an ocean of Wikipedia articles.
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