RECESSION BUSTING

As the economy tightens its belt we all have to make some changes to the way we live. The best way to get through the recession is to manage and clear your debts and cut your costs.

Managing Your Debts

MABS (Money Advice and Budgeting services) is funded by the Government and is a free, confidential, independent and non-profit making service for people in debt or at risk of getting into debt. The service can also help low-income families develop the knowledge and skills they need to avoid getting into debt and deal with situations as they arise. MABS also identifies sources of credit that best meets people’s needs and helps them access these sources. There are four important steps that MABS uses to help people get to grips with their finances:

1.Assessing the situation,

2.Working on your budget,

3.Dealing with debts and

4. Managing payments.MABS also provides information and advice through their website http://www.mabs.ie/ or you can call the MABS help line on: 1890 283438

Cutting Your Costs

There are two main ways to cut your costs:

1) Buy things cheaper

2) Don’t buy things at all

It can be worth keeping a spending diary to see exactly where your money goes and see where you can cut costs.

· Do you need that item or do you want it?

· Can you bring a sandwich with you instead of buying lunch out?

Check out other providers for your household services to cut down monthly bills.

Check reduced to clear rails and shelves in the shops.

Use the library

Swap services with friends and family (I’ll cut your grass if you baby-sit for me on Saturday night).

Get into green living; darn and mend, switch off light bulbs, use up leftovers, grow your own veggies, use energy saving bulbs etc

Bargains
You can also take advantage of the good side of a recession. “There’s a good side to a recession!" we hear you exclaim suspiciously. Actually there is, namely that there will be bargains to be had.

As consumers become more hesitant to spend, many shops and businesses are finding it harder to survive. This means you can find some great deals locally on needed necessities and services. Check these out….

Jeffrey McLaughlin, Optician

Jeffrey McLaughlin is offering free eye tests and glasses for approved medical card holders and PRSI payers (terms and conditions apply). He also has great deals on designer specs like 2 pairs of fcukTM glasses for €199. You will find Jeffrey McLaughlin optician shops in Chapel Street Carndonagh and Lower Main Street Buncrana.

Inishowen Blinds

Inishowen Blinds are offering 25% off selected vertical and roller blinds. With free estimates, free fittings and a five-year guarantee, getting your quality blinds could be cheaper than you think. With the daylight saving coming in at the end of the month, blinds can help keep the light out when you want the children to spend an extra hour in bed. Inishowen Blinds are in Milltown Business Park, Buncrana and you can call them on 074 9361708 or 0862231817

A & N Fuels

With a budget looming in April and a possible hike on fuel prices it makes sense to fill up now.
A & N Fuels have the cheapest fuel in Ireland (as seen in the News of the World). We all need to keep warm and making our money go further is especially important these days. To keep your heating and diesel costs low call the A & N Fuels hot line on 07493 61542 / 20795.
The fuel isn’t just cheap. A & N Fuels have a reputation for providing top quality fuels, great service and they also guarantee next day delivery if you call them before 4pm.
Locally based, why not call in to their depot in Aghilly Buncrana to see their comprehensive range of oil tanks, coal-bunkers, emergency oil drums (20litres), wood pellets, coal, lube oils, greases, tank gauges. While you are there you can fill up with diesel.
A & N Fuels, providing best value, top quality and quick delivery. Keeping you and your family warm for less.

Caratra Bar, Restaurant & Guesthouse Culdaff

Caratra Bar, Restaurant & Guesthouse Culdaff is just recently under new management with Brian & Loretta Bonner. They are currently promoting excellent home cooked meals using fresh local produce ensuring that eating out has never been more affordable. With a complimentary bottle of wine with your 3 course meal for only €30 per couple, the Thursday special is a real recession buster. The couple want to bring the value back to eating out in a warm cosy, friendly environment where you can get value for money & your custom is really appreciated. As if that wasn’t enough they are also offering a local radius curtsey car to drop you home so you can leave the car behind & have a few drinks with your meal. With wonderful surroundings and a relaxed pleasant atmosphere it is also the perfect venue choice for birthday parties, family gatherings, communion & confirmation outings. So whether you want great value food at affordable prices or just a good pint by a snug open fire why not come along to Caratra where your money goes further!!!

Building and Joinery Work
There are plenty of bargains to be had for building and joinery work. If you are considering an extension, like a garage, sunroom or conservatory then give Damien McLaughlin a call on 0749134852 or 0044 7714300034. Damien has slashed his prices offering low, low rates. His prices may be low, but he does a great job. So for unbeatable value and top quality building and joinery work throughout Inishowen and the North West, give Damien a call.

Plant Hire
Hiring out plant equipment can keep costs down especially when the prices are competitive. If you need a JCB Fastrac with loader and dump trailers or 120 Hitachi call Damien McLaughlin on 0749134852 or 0044 7714300034.

Mangan Tours
For a coach holiday that you can afford and you will remember, Mangan Tours provide great value for money. They have a tour for every-one from the Highlights of Holland, to the London and Chelsea Flower Show, From Lake Garda to Alton Towers and Cadbury World, from the Festival of Quilts to the Burren and Cliffs of Moher.

O’Donnells Premier Meats
O’Donnells Premier Meats in Buncrana always provide excellent meat at good prices. For a credit crunching recession busting deal check out their week planner meat pack which will satisfy the whole family. For €22 you can get one large chicken, 4 pork chops, 500g of steak pieces, 500g of pork pieces, 500g of minced steak and eight pork sausages. Now that’s a bargain.

5 MINUTES WITH - GERRY MURRAY

Gerry has been working as a Money Advisor for MABS in Buncrana for four years. MABS (Money Advice and Budgeting services) is funded by the Government and is a free, confidential, independent and non-profit making service for people in debt or at risk of getting into debt. The service can also help low-income families develop the knowledge and skills they need to avoid getting into debt and deal with situations as they arise. MABS also identifies sources of credit that best meets people’s needs and helps them access these sources. There are four important steps that MABS uses to help people get to grips with their finances:

1.Assessing the situation,

2.Working on your budget,

3.Dealing with debts and

4. Managing payments.

MABS also provides information and advice through their website http://www.mabs.ie/ or you can call the MABS help line on: 1890 283438

What music do you like?
I enjoy Blues and Gospel music. Eric Bibb is a favourite of mine at the moment; he’s a singer from New York and has just released his latest album Get Onboard. The album was recorded in Nashville and has Bonnie Raitt and Ruthie Foster featuring as guest performers. Eric is in his 60’s but looks far younger with his smooth skin.

What book are you reading?
Strip Jack by Ian Rankin, it’s an entertaining read. He is the author of the Inspector Rebus series of books which was made into a TV series and winner of the ITV3 Thriller Awards.

What was your favourite childhood game?
When I was really young I was obsessed with teddies. I would talk to them all day and dress them up. I still have four of my favourites. When I was a bit older my friend and I played with toy farms (we lived in London and didn’t see much of the countryside). We named them after my uncle’s farms in Ireland. Most of the games were about pony trekking and we would fight to get our favourite horses.

Have you been to the cinema recently, what did you see and was it any good?
I very rarely go to the cinema, although I occasionally go to the Film Club in Letterkenny. The last film I saw at the main cinema was Sex in the City. I took my daughters to see it and they loved the glamour.

What section of the newspaper do you turn to first?
The crossword page. I am not much of a paper reader… I just don’t have the time. I get the paper on Saturday and it sits there unread until the following week.

What is your idea of a good night out?
I love going to the theatre or a live gig. The Grianan in Letterkenny and the Balor in Ballybofey are both brilliant and handy to get to.

Most embarrassing moment of your life?
Before I went to Art College I got myself a job road sweeping on the North Circular road in London. We were in an open top truck, being shown what stretch of road we were to look after and as I was the only girl, I tried to be cool and jump out of the back of the lorry. Even though I did gymnastics I still managed to fall off the back in a very clumsy way. I was mortified as all eyes were on me. It was a very good job though and worth the embarrassment.

Have you a favourite TV programme?
TV dramas such as Prime Suspect are enjoyable. I also enjoyed The Street recently.

How do you relax?
Walking the dog. I have a lovely 18-month-old wired haired fox terrier called Ellie. She takes up a lot of my time as she is into everything.

What job did you want to do when you were a child?
Gymnastics were my life. I wanted to be the next Olga Corbett.

Where would you like to go for your holidays?
Italy as it is such an un-commercialised country. Sardinia is particularly lovely.

What famous people would you invite around for dinner and why?
There would be a few. Tony Benn, Helen Mirren, Jonathan Ross (even though he was in trouble last week), John Hannah the actor, Ian Rankin and my colleague here at MABS, Liz Wilson. I think that would be a lively enough party.

Favourite animals?
Dogs, cats, horses, and loads of others….

What couldn’t you live without?
My two lovely daughters.

Biggest fear?
I am not keen on heights and I don’t like the tube trains in London either, they can be so oppressive and claustrophobic.

Biggest thrill?
When I was 14, my sister and I went to see Rory Gallagher sing live at the Albert Hall in London.

The world’s most irritating invention?
Cars with more than two headlights. Especially jeeps that have an array of spotlights for show.

What is your idea of a good night in ?
Tea, toast and a great Alfred Hitchcock film.

Which period in history would you most like to have lived through?
The 1940’s and 50’s. The men wore suits and the women were so elegant. It’s probably linked into the glamour of the old Hitchcock films.

World’s most useful invention?
The telephone is very useful.

What do you have for breakfast?
Tea, toast, butter and marmalade.

What is the best piece of advice you have been given?
I was unknowingly brought up with a good sense of budgeting. My parents had very little and had to make it go a long way. I was told to live within my means and if I wanted something, to save up for it.

Personal philosophy?
Treat everyone equally.

EDITORIAL - EURO

Making the Most of Your Euro

With the challenging times posed by the current economic climate, it makes sense to ensure that you are getting value for your money, in both investing and spending what you have wisely. It can pay to sit down and take a look at what you are earning and spending and what your saving needs are, e.g. if you have two children who are hoping to go to college. It can seem that we are too busy or we don’t have the skills to plan our finances effectively, so it might be useful to call on the professionals.

Savings
Some €39bn of savers’ money is earning an average interest rate of just 1.48pc, which represents about half of the money households have on deposit. This is at a time when many banks are offering in excess of 5pc, even for demand deposit accounts.

Switch your mortgage
Your mortgage is probably your biggest monthly expense, yet many people are not aware whether they are getting value for money. If your mortgage is based on a standard variable rate you are probably paying much more than you could do. Lenders have been increasing rates on standard variables in excess of the European Central Bank (ECB) Rate. Switching your mortgage could have you thousands over the life of your mortgage.

Pension
At this time of year, you will hear many people extol the virtues of pensions, the main reason for their popularity is tax relief on contributions. You should also focus on the purpose of a pension, to replace your earned income on retirement, the tax relief is an added benefit. Choose a provider who you can rely on and who offers a wide range of investment options that suit your needs .

Claim your entitlements
Make sure there is no unclaimed money from the tax office, you could be entitled to a rebate on any money spent on medical or dental bills, bin charges, trade union subscriptions, employment and rental allowances, donations etc.
Ensure you are getting your full entitlement to mortgage interest tax relief. A married, first-time buyer couple can get €4,000 a year from the State in tax relief on their mortgage. For those couples with older mortgages, relief of up to €1,200 a year is possible. Getting expert advice is the key.

Professional Financial Services
Professional Financial Services in Buncrana offers a unique opportunity to review your existing financial status. They will assist you in finding the best provider for savings, mortgage and pension, and help you claim tax relief and other entitlements. They have a qualified accountant available to assess the information and access to 19 lenders on the market including all the major banks. They offer a friendly, confidential service and advice delivered in plain English.



Looking for Bargains
Discount shops like Borderland in Muff are at the cutting edge of money thriftiness as they stock good quality, brand name clothing that is well below the manufacturers retail prices. European supermarkets are also increasing in popularity as we tighten our belts and look for cheaper alternatives to our weekly products.

Another way to save is to only buy what you really need? Before you go shopping, make a list of necessities and stick to it.



Did You Know?

When you buy that bargain, endorphins are released which can become addictive.

If you are in debt, don’t ignore it. MABS (Money Advice and Budgeting Service) will help you take control of your finances.