Spending and budgeting

What to do when it comes to spending and budgeting.


Understanding Spending

What does it really mean?

Spending is how you use your money to cover daily needs, enjoy life, and invest in experiences. Smart spending means knowing  where your money goes and staying within your means. Tracking expenses, whether for groceries or a weekend treat, helps you make conscious choices.

Spending wisely makes sure that what you buy lines up with your values and financial goals. It’s about finding balance, not cutting out everything that you enjoy. By planning your spending and avoiding impulsive buys, you can make your money work harder for you while still enjoying life’s little pleasures.

By following this approach, you can achieve better financial health and satisfaction.

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Unlocking budgeting

What’s it all about?

Budgeting is the basis of good money management. It’s creating a plan that shows you how to spend, save, and manage your money. By putting aside funds for essentials, like rent and bills, as well as for savings and leisure, budgeting helps you stay in control. The 50/30/20 rule can make this easier by dividing your money into needs, wants, and savings.

 Practice zero-based budgeting, by giving every euro a purpose.

Set aside funds for emergencies to give yourself peace of mind. Develop budgeting habits using tools like spreadsheets or simple pen and paper. Regularly review and adjust your budget. A budget ensures you live within your means, avoid needless debt, and work towards your goals. It shouldn’t be limiting—it’s a tool to help you put what matters first and make your money go further.

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Learn more about our current accounts

Whatever your everyday banking needs are, we’ve got you covered. Choose from our range of current accounts to help you find the perfect fit1.

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The information prepared above by Bank of Ireland “BOI” is for information purposes only and does not constitute financial or tax advice. You should seek assistance from a professional if you require financial or tax advice. No liability is accepted by BOI for any errors or for any loss to any person in reliance on this information. BOI believes any information to be correct at 26/06/2025 the time of publishing and the information is subject to change without notice. BOI does not make any representations or warranties in respect of the accuracy of this information and is not responsible for the content of external sites. Please refer to our Terms & Conditions for the use of the Bank of Ireland Group Website for further details. Bank of Ireland is regulated by the Central Bank of Ireland.

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