Money Talks: 'Forget loyalty' - How you could save thousands by switching your service providers

"We have this innate feeling that there's a regulator looking out for us. Yeah, no, it doesn't happen,"

"[An] innate feeling that the company is going to reward our loyalty - forget it, doesn't happen... the financial world is against you."

"We often hear that switching to a different provider can save you hundreds, if not thousands, of euro on an annual basis. And yet, many people are reluctant to make the move. Is it the effort? The research required? The mere thought of it? Or are we just stubbornly set in our ways? Perhaps it's a fear of confrontation, relationships can be hard to break off, after all."

Switching service providers can save hundreds or thousands of euro annually. Many consumers resist switching due to perceived effort, time needed for research, habit, and fear of confrontation. Consumers often assume regulators protect them and companies reward loyalty, but those assumptions are unreliable. January is an advantageous time to reassess finances, though any time can be appropriate to review provider relationships. Identifying current deals and alternatives can yield substantial savings. Dedicating a 'life admin' day can simplify the process. Information provided does not constitute investment advice or a recommendation of any investment product.

Read at Irish Independent