Shop around for TV, broadband and energy deals and save €€€€s

An hour spent switching your energy, TV, phone or mortgage provider can save many thousands of euros. But how many people actually do it? And how do we snaffle the best deals? Comparison site Switcher.ie makes it all very easy as its resident expert Emma Archer explains – with some more tips on how to slash our bills.

What are the switching figures these days?

This year has seen (energy) supplier confidence return with bigger discounts on offer. This has been great news for consumers and has led to more househo

lds making the switch this year (compared to 2023).

Although the rate of switching is still low - with around 1 in 8 making an energy switch in 2023,  the latest monthly figures showed a 51% increase in electricity switching in July 2024 compared to the previous year - so activity is returning to pre-crisis levels.

Why aren’t more people switching? 

I think switching is all about confidence. At the supplier level, confidence in the market dictates whether they're hiking rates or cutting them and offering discounts. At the consumer level, it's whether an individual feels confident handling financial decisions and trusts the information and switching process. 

How much can we save on energy these days? 

The CRU's annual Energy Monitoring Report, which looks at switching levels across Ireland, calculated that a customer who switched to the best available discount tariff for the last four years could have saved up to €2,018 on their dual fuel costs. Switcher.ie's calculations show that an average household could save around €800 by switching at the moment - but these figures depend on your current deal and the size of your household.

Best piece of financial advice?

Spend within your means and keep track of your outgoings. Scouring bank statements used to be a pain, and keeping out of overdraft was a guessing game—but all that has changed with mobile banking.

Most banks provide mobile apps these days, so having real-time insight can really help you stay within budget and take action if you're going into the red. Some even have tools for spotting trends, setting goals and changing spending habits if you need to.  

Any other tips?

I love a bargain, so I'd also say—research, research, research. Whether you're buying a new jacket, booking a holiday, or switching your broadband, it always pays to set aside time and do your homework before splashing the cash.

What was your best financial decision? 

This is more of a conscious choice: Invest in memories, not things! For this reason, I don't tend to buy much 'stuff' unless I need it.  I prefer to spend money on experiences or creating memories - so beyond foreign holidays, the best things in life are usually free (or quite cheap!). Walking in the woods, swimming in the sea, hiking, camping, time with friends and family - costs little but means so much.

Best investment?

Buying a house. Not only has it been a sound long-term financial investment, but it's also brought security, comfort, and freedom from bad landlords! If you're buying a home rather than 'a property,' the outlay will serve you well, regardless of house price trends. 

And worst?

Dabbling in cryptocurrency! I am pretty risk-averse, so the volatility and rollercoaster fortunes were too much for me to handle. The highs were fun, the lows terrifying - so I got out as soon as I broke even and have never looked back! 

One thing you’d do as finance minister?  

I'm not sure whether this would be under the remit of the Finance Minister or the Education Minister - but I would make money management and financial literacy a compulsory part of the curriculum for both primary and secondary pupils. 

I believe that teaching children and young people about real-world concepts like borrowing, interest rates, discount percentages, financial problem-solving, and budgeting is far more relevant and useful to our lives than trigonometry!