Money Management

Why is budgeting important?

Keeping track of what you are spending money on and reduces the fear of overspending.

It helps to avoid going overdrawn on your bank account by spending money that you don’t have.

It can help to identify whether you can afford to buy something that you would like.

It support you in managing debt by planning repayments that you can afford.

It allows you to put money into your savings.

Who can help me make a budget?

MABS (Money Advice Budgeting Service) provide free online budgeting tools for weekly or monthly budgets. For instance, it categorizes your expenditure into different areas like groceries, medical and travel.

Your local bank branch will be able to provide this service. You can make an appointment to sit down with someone to help you better understand your income and expenses.

A family member can help identify areas of saving or cutting costs. For example, changing grocery shops can save you money on your weekly shop.

Travel Expenses

Being in receipt of Disability Allowance provides you with free travel on all forms of public transport, other than the night link and express services with a travel pass.

Alternatively, you can use a Leap Card. Leap card fares are cheaper than cash fairs. The app allows you to track your spending and top up using a phone.

Emergency fund

An emergency fund is helpful for when you are low in money or stuck in a situation you would like to get out of. For example, you might need to get a taxi if you are feeling anxious.

Having €20 in your wallet or purse to use is a simple emergency fund option.


Many people decide to set aside some of their wages or allowances received into a savings account.

Savings can be with a bank, credit union, post office or revolut account.

Direct debits automatically take money out of your account. You can save as little as €20 a month.

Benefits of having a bank account

Keeping your money safe

Allowing you to pay bills through direct debit (rent, phone bill, electricity)

Using online banking

Disability allowance and wages are paid into your bank account so that you are not carrying large sums of money, leaving you vulnerable to robbery

Debit cards are used to pay for most things these days and can also use it to withdraw money from your account using an ATM

A savings account can be set up along with your current account

Local bank branches will have a budgeting service

Back-up plan

It is important to have a back-up plan in case you lose your card or it gets stolen. Talk to a family member, friend or support staff you are linked in with about how to make a plan that works for you. This plan could be as easy as;
Call a family member to let them know what has happened and so you can talk to someone when you are upset or anxious.

Ring the bank to cancel your stolen card or order a new card if you need it.

Have some cash in your purse/wallet for expenses until your new card arrives.