Consumer Corner: Goodbye — my top 10 things I've learned writing this column

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This marks the last ever Consumer Corner column. 

After four years of writing about saving money and spending wisely, here are a few things I’ve learned from all the experts I spoke to over the years.

One: Be wise to those looking for your money

Everyone loves a bargain, it’s a standard emotion. 

However, being wise to sales and especially big sale events like Black Friday or the January sales can mean that you could save a lot of money by buying things you don’t need, especially when it comes to clothes. 

Most people have too many clothes in their wardrobes, and taking a simpler approach to buying clothes will not only save you a lot of money but will also be good for the environment. 

Clean out your wardrobes every few months, you might be surprised by what is lying at the back of them.

Two: You can make more money 

One thing that always pops up is the many ways that you can make more money. 

To do it, however, you need time and thought. 

There are so many ways these days to make additional money and to do so it just means you have to think about ways to do it. 

The best advice I keep coming across is playing to your strengths.

There’s no point in childminding if you’re not that into children or there’s no point in setting up a craft business if you’re not good with your hands. 

It can be worth taking the time to think about how you might be able to supplement your income and it can be worth giving it thought.

Three: Kids are expensive 

Kids are amazing but very expensive.

A bit of advice that I have seen over the years is to plan well, if you can at all, for kids coming into your life, be that with your job or savings or your home. 

Once kids do come along, if that is what you want, you will have far less time and energy to focus on financial affairs.

Four: Pensions are actually important

They may not be the most exciting of topics and over the years I have struggled to make pensions exciting but taking all that away they are really important and it is vital that you think about them early in your working life. 

People are living longer now and there will likely come a day when you will not be getting a pay cheque from your employer (aka retirement), so planning for that day will ease the stress that will come with the reduction in finances.

Five: Supermarket vouchers

They really do work if you want to save money. Spread the love among supermarkets too and use the vouchers wisely. 

They really do ensure significant savings at the till. 

Also ask among family, friends, neighbours for spare vouchers. It is likely people will have them handy and you can always repay the favour too.

Six: The Government does very little for working parents

Despite all the schemes in place for working mums, the reality is the State maternity pay is really poor. 

You will only really be looked after, if you need to take maternity leave, if you work for a company who will provide a decent pay while you are off. 

Otherwise new mums are relying on a basic payout from the Government that will in many cases be very far away from their general pay. 

Yes, we are better than some countries, but we are also far worse than many other countries. 

Also, with other schemes that are in place to allow parents take time off to look after their kids, this is all at the parents' expense. 

There’s actually very little that comes in the way of funding from the Government.

Seven: Watch your house insurance

Definitely check if your house is insured to the correct value. 

There was a story I heard about a lady whose house caught on fire after a hairdryer sparked in a drawer and her house was underinsured by €40,000 which had a big impact on her when it came to covering the cost of the damage. 

Call your insurance company and chat to them.

Eight: Switch, keep switching

Show no loyalty to your energy providers. It is so easy to switch and companies like Bonkers.ie do the hard work for you. 

It is such an easy way to save money and you can do it every couple of years. Don’t be afraid to do it and set a reminder to do it too.

Nine: Save

Even if it’s just €1 a week, put it somewhere for a rainy day.

Ten: Time is more precious than money

One question that always cropped up over the years was how much to put in a card for a Communion or a big birthday or a wedding. 

From chatting to experts and consumers what is in the card is actually of very little significance to the person receiving it. 

What people want is time with people, and that is free.