There will always be moments in life when we must face new challenges for the first time. What these challenges look like can be different for everyone, but there are some experiences that can be similar.
If you don’t relate to these experiences, that’s okay. Everyone’s journey is different. However, you might experience some of these things over the course of your life – so do you have the information you’ll need to make the right choices for you?
When you start a new job, one of the first things you should do is…
When you start a new job, you need to let Revenue know so that you can avoid emergency tax. Each time you get paid, tax will come out of your payslip. If your employment hasn’t been registered with Revenue, they will not know how much tax to take out, which means they will apply ‘Emergency Tax’. Emergency tax can take quite a big lump out of your pay cheque, so it’s important to update your information as soon as possible. If you’ve been emergency taxed, you can request a refund from Revenue. Find out about avoiding emergency tax.
If you’re renting a room or apartment, a landlord might ask for your PPS number because…
When you rent a property, the landlord should register your tenancy with the Residential Tenancies Board (RTB). Your landlord is required by law to register your tenancy with the RTB within a month from the time you move in. If there are issues during your tenancy, the dispute can be referred to the RTB.
You can get a tax refund if you have overpaid your tax (paid too much tax in one year) at any point over the previous….
If you’ve overpaid your tax in the last four years, then you can ask Revenue to refund the amount you overpaid. It’s worth checking your account each year to find out if you’re due a refund.
Health insurance becomes more expensive if you are over the age of __ when you take out your first policy
If you’re thinking of taking out health insurance, it is best to take out a policy before you turn 34. This is because health insurance premiums (the amount you must pay each year) get more expensive after you turn 35. Find out more about taking out health insurance.
True or false: When buying a car second hand, you have the same rights whether you buy from a private seller or a dealership
When you buy a car from a dealer, you have a number of protections and rights under Irish and EU law. This means if something goes wrong, it can be easier to get a repair, replacement or refund. You do not have the same rights with a private seller.
When getting a mortgage, what is the minimum percentage of the total house value that you must have saved for your deposit?
If you’re buying a house and applying for a mortgage, the bank will need to see that you have a certain amount of money saved, among other things. One requirement is that you have saved a minimum of 10% of the total price of the house to go towards your deposit. This means if the purchase price for a house is €300,000, you need to have at least €30,000 of your own money saved towards the deposit. Find out about saving for a mortgage.
True or false: It’s never too early to start your pension
A pension is a way of saving for your retirement by putting small amounts of your earnings aside every week or month throughout your working life. This will then provide you with an income after you retire. It is never too early to start your pension. Putting even a small amount aside each month can add up over time. However, if you’re not in a position to start one straight away, that’s okay - just try to avoid putting it off for too long if you can. Find out more about starting a pension.
Before you can drive a car on a public road in Ireland, you must have…
In Ireland, you must have car insurance before you can drive your car on a public road. You also must display your tax disc on your car at all times. You also must have the appropriate drivers licence, and be accompanied if you are a learner. Find out more about getting a car.
True or false: As an employee, you have the right to disconnect from work (by not responding to your employer or emails and not doing any work) outside of working hours
As well as your right to take breaks, you have a right to disconnect from work outside of normal working hours. This means you should not be expected to do any work, including respond to messages or emails, outside of the hours that you normally work. The code of practice on the right to disconnect has been in place since 1 April 2021 and applies to all employees, including people working from home. It gives guidance on your right to disengage from work outside normal working hours. While failure to follow the code is not an offence, it can be used as evidence in a case taken to the Labour Court or the Workplace Relations Commission under employment legislation.
Illustrations by Marina Marinina.