Cost of Living Support Centre

You are not alone, this may help

Cost of Living can be defined as the amount of money required to purchase necessary products and services to sustain a minimal level of life. This covers costs for things like accommodation, food, transportation, medical care, and utilities. Depending on the locale, the Cost of Living can vary, with cities and urban areas typically having a greater Cost of Living than rural areas.

The average Cost of Living can fluctuate over time due to factors like inflation and the economy. Since most people work to balance their spending with their income and savings, their Cost of Living plays a significant role in their financial planning and decision-making.

Woman researching the cost of living crisis on her phone.

Why is there a Cost of Living crisis?

The Cost of Living crisis is when necessities such as food, housing, energy, healthcare and transportation rise in price much faster than the average household income. This is mainly due to inflation.

Explore more about the cost of living crisis.

Woman on her phone discussing the cost of living crisis.

Will the Cost of Living go down?

While a number of analysts and economists will have opinions on when or if the Cost of Living will fall, it's hard to pinpoint when this is likely to happen.

Learn more about if the cost of living will go down

Helpful resources

Guidance & planning

When prices are rising and expenses are increasing, planning becomes crucial.

Planning your costs

Managing your mortgage

If you're worried about missing a mortgage payment, or saving for a mortgage, here are a few steps you can take to address the situation.

Mortgage supports

Take control with budgets

Budgeting is always important, but it becomes even more crucial as life gets more expensive. A budget can help you manage your financial situation better.

Explore our budgeting resources

Understanding financial supports

Learn about the various financial initiatives that the government offers to individuals, businesses, and communities.

Learn more about financial supports

FAQ

What are the factors to be considered before borrowing?

Take the long term view, add up how much it will cost you to take out a loan including the interest and make sure you can manage to pay it all back on time.
How will I start budgeting for the family?

Try estimating future costs and income and working out how to finance, or save the difference. It’s the sort of planning that gets you ready for life’s twists and turns.
I have questions about savings and deposit accounts

Call 0818 724 725 (lines are open Monday to Friday 9am – 5pm), or drop into any AIB branch. We’ll be happy to answer your questions and help you find the right kind of savings account.
How will I start saving for my child’s future when we are preparing for a new baby?

Start saving for your child’s future today with the AIB Online Savers Account. If you’re an AIB customer then you can set it up in minutes through the Mobile Banking App or Internet Banking.
How do I manage and pay my bills through an AIB account?

You can manage your bills through mobile banking, internet banking, tablet banking and/or in your branch. Click here for more details on managing your bills.
What should I do if I can’t pay my arrears?
- If you’ve missed a payment, you should repay your arrears as soon as you can. If you can’t pay back your arrears, you should take action straight away.
- For mortgage arrears, call us on 0818 251 008
- For loans, call us on 01 772 5714
- For credit cards, call us on 01 668 5500.
- If you call us, we promise to listen, be open-minded and not to judge. Our people have helped thousands of customers to get their finances back on track. We can also give you contact details for third party advisors that can give independent advice. You may have to fill out a Standard Financial Statement (SFS). Learn more about our SFS and Mortgage Arrears Resolution Process (MARP) process or read our Mortgage arrears resolution process (MARP) booklet.
What is an online notice deposit account?

Online notice deposit account requires seven days’ notice to access your funds, making you less likely to make withdrawals. There’s no minimum opening balance required and it’s all online so you can easily check your balance every time you log into your account. Learn more about online notice deposit account.
What support is available from the government to deal with the Cost of Living crisis?

Department of social protection has announced various policies to support us in the Cost of Living crisis. Read more about the various support offered by the government.
Is renting a room in my house tax-free?

The rent-a-room relief lets you earn up to €14,000 per year tax-free if you rent out a room (or rooms) in your home to private tenants. Check out Renting out a room in your home (citizensinformation.ie) to learn about the terms and conditions.