At Moneycube we believe more people should think about investing their savings.

One big reason for that is that it is almost impossible now to make any money by leaving it on deposit in the bank.  Deposit rates continue at near-zero levels.

Prices came down in May

While your bank savings might have gone nowhere in May, there was good news for the inflation eater, with prices easing off.  A lot of the good news came from cheaper transport costs.  Car insurance finally started coming down a little, while diesel and petrol as well as air fares fell.

But compared to the start of the year, inflation is up nearly 1%.  That means your savings still have plenty of catchup up to do.

What’s the inflation eater?

The Moneycube inflation eater shows the impact inflation is having on your savings.  It’s updated each month, once the Consumer Price Index is published by the Central Statistics Office.

 

Tired of watching inflation eat into your savings?  Get started with Moneycube today

 

Source

Central Statistics Office

By investing €250 a month you could save €17,400 in 5 years

Using our "Picture your money" tool, you can find out how your money could work for you.

Start now It only takes a minute to get started

Note: This is an initial indication to help you picture your money. Remember that with investments it is not possible to know for certain what returns you will achieve. Please note the investment warnings at the bottom of the page. This is the approximate before-tax return on an investment which grew at 6% over 5 years.