TheBadPlaceIrish Independent : Independent | ‘Maybe a cost shock is what’s needed to prompt you’ – what to do if your wages aren’t keeping up with inflation
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The article, ‘Maybe a cost shock is what’s needed to prompt you’ – what to do if your wages aren’t keeping up with inflation, features six financial experts offering practical advice for anyone whose paycheck is losing purchasing power. It opens with data from the Central Statistics Office showing consumer prices were 3.6 % higher in March than a year earlier, while a CIPD‑IRN survey revealed that although 78 % of companies gave pay rises, the average increase was only 3.31 %. Against this backdrop, the experts recommend first assessing whether a raise is justified and, if so, preparing a evidence‑based case to ask for it; second, tightening budgets by prioritising essential spending, cutting discretionary outlays and shopping for better deals on recurring bills; third, protecting earnings through low‑cost, higher‑yield savings options or debt‑reduction strategies; fourth, diversifying income streams via side‑hustles or upskilling; and finally, investing any surplus wisely—using tax‑advantaged accounts, low‑fee index funds, or disciplined contributions—to ensure money works harder than wages alone.
#CSO #inflation #wagegrowth #salary
AI generated summary, Read the full article for complete information.
‘Maybe a cost shock is what’s needed to prompt you’ – what to do if your wages aren’t keeping up with inflatio
The Central Statistics Office (CSO) recently reported that the price of consumer goods and services in March was 3.6pc higher on average when compared with the same month in 2025.
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