The world of investments is always changing. Here are a few tips to keep your investment portfolio optimised.

• Set up regular meetings with an independent investment advisor
• Review your income from investments and when you are receiving income, fine tune the months to suit your expenses if possible.
• Review any annual charges and compare investment providers from time to time.

• What fees and charges are you paying? Compare that with what else is on the market. 

• Work out ways to reduce fees or get rid of them completely. Some banks waive fees in certain circumstances. 
• Check out the interest rates and how often interest is paid – is it compounding?
• If your bank owns an ATM network and you withdraw cash at an ATM that your bank doesn’t own or is an overseas ATM, you may be charged for this withdrawal.

• Dishonour fee – The fee you pay when the balance in your account goes below €0.00. Example: Your TV provider debits €100.00 for your monthly bill but you only have €50 in your account at the time. In this case you will be charged by your bank.

It’s worth doing a check on your current home loan to see what else is in the market. Things that you might like to consider are:

• Do you have a fixed or variable interest rate? Is this still the right type of loan for your lifestyle?
• Are you getting a good interest rate? Compare with other bank’s interest rates.
• What features and benefits does your loan offer? Do you use them or are you paying a higher interest rate to get benefits you don’t use?
• Are you being charged unnecessary monthly or annual service fees?

• Can you make additional lump sum repayments and have the flexibility to access these funds when you need them at no cost?

You can make some significant savings with just a few small changes to your home, car, life insurance.

Remember to check the policy benefits – not all insurance policies are the same.

• See what savings you can get on your insurance premiums by varying your excess levels – the bigger the excess, the bigger the savings.
• When you buy online, you usually receive a discount on your premium.
• Consider using an insurance broker who can shop around and get you the best deal on the market.
• Ensure that your car is insured at market value and be sure to ASK the insurance to confirm this before renewal.

You may have a land line, mobile, internet connection and TV subscription.

• Look at your current plan and usage patterns. Is there a better deal?
• If your contract expired is the same company offering better rates to new customers but has left your account on the old terms?
• Check out your usage costs and if you’re on a plan, see if you can reduce costs for not using the full amount each month.
• Look at bundling the services with a provider – it can often save you money (and the hassle of multiple bills from different providers).

But, if you look around, there are some credit cards that can work better for you.

• Compare the features and costs of your credit card with others in the market. 
• Consider the various options, including the higher fee options for an interest-free period. 
• Are you using your card effectively? Could you pay it off at the end of each month?
• Is there a more economical card that’s better suited to you? 
• Is there a better interest rate if you go past the interest free time frame?

• With high petrol prices and rising environmental concerns, when you are buying your next car, it may be time to switch to a more cost-effective and/or ‘greener’ car.
• Make sure you get your car serviced regularly. This can help to keep it running more efficiently and safely.