Ireland is a top destination for expats, known for its thriving job market, friendly culture, and world-class education opportunities. However, it’s also one of the most expensive places to live, ranking as the 14th most expensive city in the world. Whether you’re new to Ireland or planning your move, smart budgeting is key to navigating the high cost of living. This guide will help you manage your finances effectively so you can enjoy life in Ireland without breaking the bank.

Here’s how to stay on top of your budget while settling into your new home—and still have some euros left for a pint or two!

1. The 50/30/20 rule 

The 50/30/20 rule divides your income into 50% for necessities, 30% for discretionary spending, and 20% for savings. It’s a great starting point for managing your money. However, in Ireland, where housing and utilities can be particularly expensive—especially in cities like Dublin—you might need to tweak this ratio.

Pro Tip: Shopping around for deals on essentials like energy providers can help reduce costs. Utilities are often a significant variable expense in Irish households.

Maximize your budgeting strategy with bunq by customizing your spending categories and setting up a system that works for you.

Make the most of bunq features:

• Set up multiple PIN codes to manage payments from different accounts with one card.

• Create a bunq Joint Account or join a bunq Pack to easily manage shared expenses with roommates or a partner.

2. Track your spending and adjust your budget 

Everyone’s spending habits are unique, so it’s important to create a realistic budget you can stick to. Regularly reviewing your expenses will help you identify where adjustments are needed.

Keep an eye on travel expenses

Exploring Ireland is a must, but weekend trips can add up quickly. Instead of flying abroad, consider discovering Ireland’s hidden gems by train. With affordable tickets, you can easily explore historic towns like Kilkenny, charming coastal spots like Westport, or lively city escapes like Galway. Along the way, soak in the stunning views of the Irish countryside.

Use the bunq Budgeting tab for detailed spending insights, including monthly comparisons and categorized breakdowns. This feature makes it easy to spot trends in discretionary spending, such as travel or dining out, and adjust accordingly. Add external Bank Accounts for a complete overview of your finances, and check the Travel tab for local tips and recommendations.

Pro Tip: Experiment with different budget breakdowns to find what suits your goals and needs. For instance, try investing part of your savings with bunq Stocks to grow your money over time.

3. Account for unexpected expat expenses

Moving to a new country can come with unforeseen costs. Be prepared by setting aside money for items like visa application fees and initial setup expenses.

Research is key:

• Check visa requirements, as some Irish visas mandate private health insurance.

• Understand health costs; certain medications may only be partially subsidized in Ireland.

Pro Tip: Set up a Savings Account with bunq to save for these expenses and earn up to 3.11% interest, paid out weekly.

4. Build your savings, one step at a time

Saving, even small amounts, can have a big impact. In Ireland, where the cost of living can be high, every bit saved makes a difference. With bunq Payday, your 20% and weekly earnings grow over time, showing that even the smallest steps can lead to significant progress. Every bit you save is a step toward your goals.

Boost your savings effortlessly:

• Enable Auto Round Up to round up every payment and save the difference.

• Regularly review your savings to ensure you’re on track to meet your goals.

Ready to take control of your finances? Upgrade to bunq Pro to unlock powerful budgeting tools today.

* bunq B.V. trading as bunq is licensed by the Dutch Central Bank (DNB) in the Netherlands and is allowed to operate in Germany. Not investment advice. Interest rate is subject to change. 3.11% is the bonus gross annual rate. You earn it on all your EUR savings until your first threshold calculation. Your threshold is your highest savings balance over the previous 6 months, recalculated every January 1 and July 1. After that, the part of your savings up to your threshold earns the base rate: 1.61% on the first €10,000 of that part and 1.51% on the rest. The part above your threshold earns the 3.11% bonus rate. All rates are variable and can change. Find more information on help.bunq.com/en-de/articles/whats-massinterest-and-how-does-it-work

Not investment advice.

T&Cs Apply.

Disclaimer: bunq does not provide investment advice. Crypto & Stocks trading involves risk of loss. bunq b.v. trading as bunq is licensed by the Dutch Central Bank (DNB) in the Netherlands and is regulated by the Central Bank of Ireland for conduct of business rules. Crypto is powered by Kraken and all Stocks trading is conducted through our partner, Ginmon.