ConsumerValue
General Advice
ConsumerValue is the newest addition to the National Consumer Agency’s consumer website ConsumerConnect.ie. It marks the latest development in the range of resources provided by the NCA to assist consumers in understanding their rights and in seeking a fair deal.
Our market research shows that over the past two years, Irish consumers have typically grown in knowledge and confidence about their consumer rights: 70% of consumers in Ireland now feel that their rights are “protected” in their consumer transactions.
But with budgets getting tighter as a result of the economic downturn, the priority is now as much on seeking value as on ensuring that fundamental consumer rights are protected and understood.
The ConsumerValue initiative draws together a range of information and resources to help you review your spending, identify areas where you may be able to strike a better deal and, most importantly, actually make those changes and start to save.
ConsumerValue will act as a single signpost directing you to the very many helpful and valuable resources now available to inform consumers about how to seek the best deals.
ConsumerValue is not about changing the way you live your life. It is about making consumer choices based on full information and an understanding of what cost versus benefit mix is right for you.
It is about making your money work harder for you. It is about getting the same, and more, for less.
We all have a personal opinion as to what constitutes “value”. It is important to remember that value is about more than just the cheapest price.
It’s about getting a fair return for the money you hand over in your everyday dealings with sellers of goods and suppliers of services.
It’s about buying the combination of products or services that best suits your needs and your budget, in a way that is efficient for you.
ConsumerValue focuses on your expenditure from the biggest items, like buying a house, right through to shopping for everyday groceries.
Irrespective of the size of the transaction there are a few golden rules that you should follow to ensure you get the best deal possible in the given circumstances.
Know your budget and stick to it
Nothing is good value if you can’t afford it or you need to get into unwanted debt to buy it.
Make sure your purchases are conscious decisions and that you take those decisions based on full information.
A budget planner on the ItsYourMoney.ie website can help you work out everything you are spending and what you're spending it on. By comparing your spending with your income, you can work out a plan that suits you and can help you keep control of your spending effectively.
Enter your details in the planner.
Shop around
An informed consumer is an empowered consumer. Use all the resources at your disposal to investigate the options available to you.
Compare prices. Understand specifications, options, terms and conditions. Choose what you buy based on what you want and can afford.
Don’t buy things under pressure. If you think a better deal may be available elsewhere, check it out.
Even if you are already in a contract, remember that as long as you observe any time limits in the terms and conditions, you can always switch your business.
If you don’t like what is being offered to you, you can walk away.
Watch out for added extras
Always check what is and is not included in the basic price of an item.
Make choices based on what you want and need from a product or a service.
Don’t be coerced into unwanted and potentially expensive extras.
Haggle or negotiate
Suppliers want and need your business, so make them work for it. Your money is worth as much to you as it is to a supplier. Smart business people will never refuse a fair deal. So ask for a fair deal and see what happens!
Use it or lose it – make the most of freebies, discounts and additional benefits
Check if you are entitled to free banking. If not, ask why not. If you have coupons or money saving vouchers, use them. If you hold multiple insurances with the same company, ask if you are entitled to any discounts.
If you are entitled to any benefits or tax exemptions, make sure you claim them. In many cases, consumers don’t get because they don’t ask.
The worst that can happen is that you will be told "No".
"No" doesn’t leave you any worse off, and it does make you more fully informed about what you are and are not entitled to and about precisely what you are and are not being offered by a given supplier of goods or services.
Maybe another supplier will give you a different answer, a better service, a lower price… you can always ask!
Learn more
Read the acknowledgements and disclaimer about information in the ConsumerValue section of ConsumerConnect.ie.
Read some tips on how to cope in a recession