Ronan’s Blog

The SSIA scheme (Irish Government Savings Scheme, toping up savings with an extra 25% over 5 years) has hit maturity right on time to coincide with the announcement of the General Election (Surprising, Huh?) and over a half a million accounts are maturing today, releasing over €7.5 billion to Irish Savers.
SSIA’s mature today releasing €7.5bn to savers

Now the property market has slowed down at the minute, because of the uncertainty over the future of Stamp Duty, which is expected to be resolved directly after the election. I wonder will these pay-outs kick-start it again? Will people actually start spending their SSIA’s immediately?
Personally, I’ve had my SSIA since the start of January and since then I’ve been suffering from Post-SSIA depression. Not because the free money giveaway has finished, but rather because I have this big lump sum sitting in my account with no idea what to do with it. Originally I thought that I would pay-off my car loan, sell my car, and buy a newer one with some of the cash (No luck selling my current car though) and then I would know €10,000 off my Mortgage (but my Bank Manager/Dad was not really able to tell me if that was a good idea or not). So right now I still have the lump sum sitting there with no idea what to do with it.