Nomoneynohoney
Registered User
- Messages
- 13
I have an ok amount of money considering the current economic situation and my working-class upbringing. The reason for this amount of money is mostly luck due to a recent inheritance but I work hard aswell and try not to buy too much stuff that I don't actually need. The problem is that I am really inefficient in terms of how my money is spread out/invested.
I have around €5k in my current account, and judging from online sources, that is far too much to have in a current account. I have about €15k in the credit union but it doesn't seem to be a very fruitful place to save. Then I have €1k in a PRSA pension. For added context, I'm 29 years old.
Would there be better ways to save my money and increase the interest I get? It seems the interest on most savings accounts now is pretty low. That leaves putting more into my personal pension or investing in the stock market as other alternatives. But I've read that Irish legislation around capital gains taxes (that I don't really understand) makes direct stock market investments not worth it.
Any general advice or suggestions on better ways to better use my savings would be very much appreciated. Thanks.
I have around €5k in my current account, and judging from online sources, that is far too much to have in a current account. I have about €15k in the credit union but it doesn't seem to be a very fruitful place to save. Then I have €1k in a PRSA pension. For added context, I'm 29 years old.
Would there be better ways to save my money and increase the interest I get? It seems the interest on most savings accounts now is pretty low. That leaves putting more into my personal pension or investing in the stock market as other alternatives. But I've read that Irish legislation around capital gains taxes (that I don't really understand) makes direct stock market investments not worth it.
Any general advice or suggestions on better ways to better use my savings would be very much appreciated. Thanks.