'Tell them you want €40k' Pay negotiations, investing, and how to take financial control

The Government’s planned personal investment account for ordinary savers was finally revealed on budget day, but it wasn’t long until the questions began arriving by email to The Irish Times business desk.

Parents around the country were left confused last week when the Minister for Public Expenditure Jack Chambers said he was reducing the “maximum childcare fees paid by parents from €735 to €550 per month” for children up to senior infants from September of next year. It led to a slew of emails to The Irish Times with parents wondering why they are currently paying well above that figure - from €959 up to €1,400. Irish Times deputy business editor Dominic Coyle explains that "not for the first time, there appears to be a substantial “reality gap” between the Government’s understanding of the “maximum” cost of care and the real maximum under its own core funding rules." In this episode of Better with Money, Coyle and host Aideen Finnegan explain the fee system under the Core Funding scheme, what subsidies are available to parents and how lower-income households can avail of extra supports to help with the cost (such as the income assessed subsidy which will rise €73,000 next year). The episode also examines what's driving costs for the sector and why childcare providers feel they're being under-compensated.

Aideen Finnegan is joined by Dan Malone of Honest.ie for a debrief on the new personal investment account scheme unveiled by Finance Minister Simon Harris in Budget 2027. Dan explains it's a tax-advantaged “home” for investing in assets like stocks, funds, bonds and ETFs, with a €12,000 annual contribution cap and a €50,000 tax-free threshold. Once you go above that, a flat 1% tax rate kicks in on the portion above €50k. The bad news is that will happen even in years when markets fall and you lose money, with Dan warning that could meaningfully "drag on long-term returns." They discuss uncertainty around provider fees, whether accounts will be self-directed or offer pre-packaged options, and if it will be easy to move existing investments into the new account. Dan urges people not to wait until the planned July 1st 2027 launch to start investing, citing how long it took to get pension auto-enrolment off the ground.

Not everyone can afford or even wants health insurance. But for those who do - or those who worry affordability will force them to drop theirs - this episode of Better with Money is your ultimate guide to saving at a time of stringent price hikes. Dermot Goode has been working in the area of health insurance for over 35 years and what he doesn't know about the industry isn't worth knowing. He explains how many people are on outdated, overly expensive plans and could save by switching within the same insurer. Families can split cover for different members to reduce their bills. There are key phrases you can use when on the phone to insurers to get the best deals. Dermot explains community rating, waiting periods, age loadings from 35, how pre-existing conditions are assessed from medical evidence, and the two-year “upgrade rule” for extra benefits. He warns against low-value entry-level plans and high-excess products, outlines what mid-level and corporate plans cover, and highlights children’s deals, young adult rates, and add-ons like dental plans and HSF cash plans for outpatient costs.

Irish Times deputy business editor, Dominic Coyle, and trust and estate practitioner,Trea McGuinness, discuss what’s set to be the biggest transfer of generational wealth ever in Ireland. That’s because the over 65s own the lion’s share of the country’s private wealth and they’re set to pass on billions of euro – much of it tied up in property – over the coming decades. But McGuinness, who’s a partner with BHSM, emphasises it’s important for younger people to draw up a will and not to fall into the trap of thinking they don’t have an estate to pass on. In this conversation with host Aideen Finnegan, they discuss whether it’s better to gift assets while alive, the risk of people impoverishing themselves to leave money behind, and how inheritance can trigger bitter family disputes. The episode also covers intestacy rules, rights of residence complications, divorce and capital gains issues, blended families, cohabiting couples being taxed like “strangers.”