How going online can save you €1,000s

Alot of people, particularly in older age groups, fear the internet. In many ways, rightly so – it’s a minefield for the unwary, who often get scammed or worse.

But it’s also a mine of useful information. And you can lose out – significantly – if you don’t take advantage, either in person or by getting an internet-savvy friend or relative to do it for you.

The best way to use it is to go to comparison sites that sift through all the confusing data and competing offers in the blink of an eye to find you the best deal. As our reader found in the question opposite, comparison sites such as Switcher.ie not only cut your energy costs, they show you where you stand a lot more clearly than a doorto-door salesman.

You can also get better discounts. Here we show possible savings online. TAX: A PAYE taxpayer can get an €880 refund just by getting to know what they are entitled to – and claiming it, said Taxback.com. The self-employed can do even better. Neglected tax breaks include pensions, dental and medical expenses, tuition fees and allowances for employment expenses such as uniforms (Flat Rate Expenses, or FREs). Websites: Taxback.ie, Paylesstax.ie and Revenue.ie. ANNUAL SAVING – €880 MORTGAGES: The difference between the dearest and cheapest mortgage could be over €30,000. The average saving is €700 a year. See Consumerhelp.ie and Bonkers.ie. SAVE – €700 LIFE AND MORTGAGE INSURANCE: LABrokers.ie gets discounts for selling bulk policies online, and foregoes commission, which can cut the cost of life and mortgage protection cover by at least 32%, said CEO John Geraghty. The ‘catch’ is that these are online transactions with no advice or handholding through the process. ‘It’s for people who know what they want,’ he said. SAVE – €692 MEDICINE: A new online chemist – Healthwave.ie – is shaking up the profitable pharmacy business and will visit you in your home. SAVE – €500 HEALTH INSURANCE: While some families can save €1,000s, the average saving for those who review their cover is €400 to €500, said Dermot Goode of www. totalhealthcover.ie. Steer clear of older plans, review cover every year and consider mid-range corporate plans that offer all the bells and whistles. Other tips include accepting a small excess, dropping private room cover and splitting cover between plans for different family members, depending on their needs. Check out www.hia.ie. SAVE – €450 ENERGY: You can save up to €376 per year with sites such as Switcher.ie and Bonkers. ie. Yet only 15% switch every year – so 85% miss out. (See Q&As.) SAVE: €386 MOBILE PHONE: Save on average €288 per year by switching mobile phone provider. Make the right call with comparison site Callcosts.ie. SAVE: €288 CREDIT CARDS: The average credit card balance is €1,100 on average interest of over 20%. That’s over €200 a year you can avoid by using sites such as Bonkers.ie to switch to the cards with 0% interest. Make sure to clear the balance in the lowinterest period, however, or you’ll be clobbered with higher rates SAVE – €220 BROADBAND: Watch out for broadband speeds as well as price as providers quote figures preceded by those very misleading words ‘up to’, warns Switcher.ie. SAVE – €200 MOTOR INSURANCE: Most people do shop around for motor cover online. But make sure you know how many insurers are being compared when you use a website. Online brokerage Chill.ie compares 14 car insurers and 20 home insurers. SAVE – €180 HOME INSURANCE: Many homeowners go with the insurer they are fixed up with by their mortgage provider. They’re probably paying way over the odds by now if they don’t switch. Check out Chill. ie. SAVE – €156 TOTAL SAVINGS: €4,652