Source: Adobe Stock Author: Redaction As 2025 approaches, many tenants in Portugal are preparing for rent adjustments due to new regulations. To adapt to this scenario, its essential to understand how to calculate the updated rent amount and the impact these changes may have on your monthly budget. The main change for 2025 is related to the Consumer Price Index (CPI), which will be used to adjust rental contracts. The rent increase will be calculated based on the variation in the CPI, which reflects inflation and changes in the cost of living. Therefore, knowing the projected CPI for the next year is crucial to predict your new rent amount. How to Calculate the New Rent Value: Determine the Current Rent Value: Start by checking the current monthly rent you are paying. Consult the Consumer Price Index (CPI): Identify the CPI applied to your rental contract. The CPI is regularly published by the National Institute of Statistics (INE) and shows the average price changes of goods and services over time. Calculate the Percentage Change in CPI: Compare the CPI from the previous year with the current CPI to determine the percentage increase. For example, if the CPI increased by 2% compared to the previous year, that will be the percentage adjustment for your rent. Apply the Adjustment to the Current Rent: Multiply the current rent amount by the percentage increase in CPI. For example, if the current rent is 800 euros and the CPI increase is 2%, the new rent value will be 800 euros + (800 euros x 0.02) = 816 euros. Check the Specific Terms of the Contract: Ensure there are no additional clauses in your contract that may influence the rent calculation, such as adjustments based on other indicators or maximum limits for increases. In addition to calculating the new rent value, its important to consider the financial impact on your budget. With the anticipated increase for 2025, many tenants may need to reassess their expenses and explore options to better manage the cost increase. For a more accurate and personalized estimate, consulting a real estate legal expert or financial advisor may be helpful. They can provide additional guidance and help you better understand the implications of rent changes. Anticipation and planning are key to handling rent adjustments and ensuring you can adapt without financial surprises. Stay informed about updates and prepare to manage changes effectively.
Source: Adobe Stock Author: Redaction With the aging population and increasing concern about financial security in retirement, many Portuguese are considering the best ways to ensure a stable future through retirement savings plans. However, with the variety of options available on the market, how do you choose the plan that best suits your needs? Choosing the ideal retirement savings plan depends on several factors, including personal financial profile, retirement goals, and time horizon. Here are some essential aspects to consider when selecting the most suitable plan: Type of Plan: There are different types of retirement savings plans, such as pension savings plans (PPRs), pension funds, and retirement insurance. Each type offers distinct advantages and features, such as tax benefits, guaranteed or variable returns, and contribution flexibility. Tax Benefits: PPRs, for example, offer significant tax advantages by allowing contributions to be deducted from income tax up to certain limits. Evaluating these benefits can help maximize investment returns and reduce tax burden. Return Rate: It is important to consider the return rate offered by the plan, as well as the stability and reputation of the financial institution managing it. Compare projected return rates and associated fees for each plan to find the best balance between risk and reward Flexibility and Conditions: Check the plans conditions, such as flexibility in contributions, the possibility of early withdrawals, and associated penalties. Some plans offer greater flexibility, which can be advantageous if there are fluctuations in your saving capacity over the years. Time Horizon: Your retirement horizon is also a crucial factor. Plans with higher exposure to financial markets may be more suitable for those with a long time until retirement, while more conservative options might be preferable for those approaching retirement. Personal Goals and Needs: Define your savings goals and estimate the amount you wish to accumulate to ensure a comfortable retirement. This will help you select a plan that aligns with your future financial needs. To make an informed decision, it is advisable to consult a financial planner or insurance advisor who can provide personalized analysis and recommend the most suitable savings plan for your situation. Investing in retirement savings is a crucial step to ensure a secure and financially stable retirement. Carefully evaluating the available options and choosing the right plan can make a significant difference in your financial future.
Source: Adobe Stock Author: Redaction With the growing interest of foreigners in purchasing property in Portugal, many financial institutions are offering mortgage loans tailored to international investors. However, to facilitate the approval process, it is crucial for foreign applicants to know the required documents and be prepared to present them appropriately. To apply for a mortgage in Portugal as a foreigner, the following documents are generally required: Personal Identification: A valid passport or ID card from the country of origin. If residing in Portugal, a Portuguese tax identification number may also be required. Proof of Residence: Utility bill, rental agreement, or another document confirming the current residence. Proof of Income: Tax returns, salary receipts, or proof of income from business activities. If the applicant is self-employed, additional documentation regarding their business and income must be provided. Employment Contract or Proof of Employment: A document confirming job stability, such as an employment contract or a letter from the employer. Bank Statements: Copies of recent bank statements, generally from the last three to six months, to demonstrate the applicants financial capacity. Property Documentation: Purchase agreement or reservation contract, appraisals, and other documents related to the property being acquired. Portuguese Tax Identification Number (NIF): To obtain a NIF, foreigners must visit a tax office in Portugal or a Portuguese consulate in their home country. Proof of Down Payment: To ensure the buyer can cover part of the property’s cost, it is necessary to present proof of available funds. In addition to these documents, each bank may have specific requirements, so it is advisable to consult the financial institution directly for a detailed and updated list. It is also recommended to seek the assistance of a financial or legal advisor specializing in international real estate transactions to ensure all legal and financial aspects are properly handled. With the proper documentation and careful planning, foreigners can successfully navigate the mortgage process in Portugal and achieve the dream of purchasing property in the country.
Source: Adobe Stock Author: Redaction Portugal has recently been highlighted as the most attractive country globally for industrial investments, according to the International Industry Investment Report 2024. The report praises the country’s favorable business environment, driven by tax incentives, supportive policies, and a skilled workforce. Political stability and infrastructure modernization were also mentioned as important factors. Sectors such as technology, renewable energy, and biotechnology are noted as promising areas for investment. The Portuguese government has promoted policies like tax benefits and subsidies to attract foreign investments, as well as investing in modern infrastructure and training centers. This recognition is expected to boost foreign direct investment, create new jobs, and strengthen the Portuguese economy. The Lisbon Stock Exchange reacted positively, with an increase in the shares of industrial and tech companies.
Source: Adobe Stock Author: Redaction Increase to 860 euros in 2025 The government announced on tuesday its intention to raise the national minimum wage to 860 euros from 1 January 2025. This measure is part of the executives plan to strengthen the purchasing power of Portuguese workers and tackle wage inequality, moving towards the goal of reaching a minimum wage of 900 euros by 2026. Discussions with social partners According to the minister of labour, solidarity and social security, this proposal will be discussed with social partners in the coming weeks, within the framework of social dialogue. The minister emphasised that increasing the minimum wage is a priority for the government, at a time when the country is facing a rising cost of living, driven by inflation and higher prices of essential goods. Impact on the economy The government believes that this increase will have a positive impact on the economy by stimulating domestic consumption and promoting more inclusive economic growth. However, the proposal is already generating mixed reactions among employers representatives and unions. Mixed reactions from employers and unions On the one hand, employers confederations have expressed concerns about the impact of this increase on operational costs for companies, especially small and medium-sized enterprises (SMEs), which may face additional challenges in bearing the burden. On the other hand, unions welcomed the measure but argued that more needs to be done to ensure that the minimum wage better reflects the current cost of living. Minimum wage currently at 820 euros The national minimum wage in Portugal is currently 820 euros, following an increase earlier this year. The governments aim is to continue improving the living conditions of workers, but the proposal still needs to be approved by parliament before it comes into effect.
Source: Adobe Stock Author: Redaction Last Monday, the Government announced that it will launch a tender for more than 4.68 million euros in European funds by August 2025, with the aim of speeding up the implementation of the Annual Notice Plan of Portugal 2030. The goal of these tenders is to attract investments focused more on people and companies, promoting an inclusive approach to entrepreneurship and innovation, centered on individuals and businesses. To achieve this plan, notices have been published in line with the Annual Plan . So far, 376 notices have been scheduled between September this year and August next year, showing the distribution across various regions of the country and the areas to be funded. The intention is for this notice plan to be updated every four months, promoting transparency in the process and providing important information on who can apply, in which region of the country, the date of the notices release, how and in what modalities to submit applications, and the type of project and its identification. Read more about: Economy: inflation slowed down in August , Renegotiating Contracts and Loans: 5 Tips.
Source: Adobe Stock Author: Redaction Negotiations between the various parties regarding the State Budget for 2025 are ongoing, with different opinions being presented by the parties, and no consensus has been reached. Therefore, the Government will hold a new meeting on September 10 to discuss the various views and proposals of the different parties. The deadline for submitting the OE2025 proposal is October 10, at the Assembly of the Republic. Some of the recently approved measures will have a high cost, contributing to an increase in State Budget expenditure, amounting to 5.7 billion euros , even before it has been submitted and approved. Among the measures that increase the OE expenditure are, for example, the increase in IRS consignment to 1%, the exemption of taxes (IMT and Stamp Duty) for young people up to 35 years old buying their first home, the new tables for IRS rate reduction, the elimination of toll charges, an increase in pension values, among others. Read more about: Real estate fundraising: how to facilitate this process , Mortgage loans: new drop in Euribor rates.
Source: Adobe Stock Author: Redaction Since September 1, new IRS withholding tables have been in effect, aiming to balance and adjust the deductions made by Portuguese taxpayers, resulting in greater savings. This measure will provide relief for many families, with effects in September and October (new changes will be introduced in November and December). In practice, this change will allow many to recover the excess deductions they made since January this year. It also means that for retirees, pension amounts up to 1,202 euros gross will not be subject to IRS withholding. Therefore, those earning a salary of up to 1,175 euros gross will have 0% IRS withholding in September and October. For more details, the new tables are available for public consultation on the tax authoritys portal. Read more about: Registering land: where and when? Find out , Discover the worlds most curious constructions.
Source: Adobe Stock Author: Redaction Inflation rates dropped to 1.9% in August 2024 , according to data from the National Institute of Statistics (INE) released last Friday. The monthly decrease in the price of fuels and lubricants may have contributed to this change in the inflation rate percentage. According to the INE data, prices of unprocessed food products also fell to 0.8%, with fresh fruit being a significant contributor to the slowdown in the inflation rate. The final data for August will be released on September 11, according to information on the INE website. Read more about: Inflation slowed by 0.3% in June , Renting with or without furniture? We help you decide , Renegotiating Contracts and Loans: 5 Tips
Autor: Redação Fonte: Adobe Stock In ascenario where energy prices continue to rise, the bi-hourly tariffemerges as an option for many consumers looking to reduce theirelectricity bills. This type of tariff offers differentiated pricesbased on the time of consumption, with lower rates during periods oflower demand and higher rates during peak consumption times. Theproposition seems attractive, but does it really pay off? A closerlook reveals both advantages and challenges for consumers consideringadopting this model. The main advantage of the bi-hourly tariff is the potential tosave money by adjusting energy consumption to lower-cost periods.During the night and on weekends, when electricity demand is lower,the tariff is reduced, which can lead to significant savings forthose who can schedule their appliances and activities for thesetimes. This can be particularly beneficial for families using largeappliances, such as washing and drying machines, or for businessesoperating outside conventional working hours. However, implementing the bi-hourly tariff requires carefulplanning and changes in consumption habits. To achieve real savings,consumers must be willing to adjust their schedules and useappliances during low-tariff periods. This can be challenging,especially for those with rigid work hours or families withestablished routines. Moreover, the high tariff during peak hourscan, in some cases, offset the savings obtained during low-costperiods, depending on each individual’s consumption pattern. Another important aspect to consider is that not all energyproviders offer bi-hourly tariffs, and conditions can vary widelybetween different regions and companies. Therefore, it is essentialto compare the available offers and assess whether the potentialsavings justify the required efforts and adjustments. Ultimately, thedecision to adopt a bi-hourly tariff should take into accountindividual energy consumption patterns, flexibility to adjustschedules, and an analysis of the conditions offered by providers.For many, the model may represent a valuable opportunity to save, butit is crucial to conduct a careful evaluation before making thedecision.
Fonte: Adobe Stock Autor: Redação Saving electricity is not only about protecting the environment but also an economic necessity. Finding efficient ways to cut down on energy consumption at home and work has become a priority, leading many to seek out practical and easy-to-implement tips. - Benefits of saving electricity Reducing energy consumption has clear benefits, from lowering your carbon footprint to significantly cutting down your monthly bill. Additionally, adopting more efficient consumption habits can extend the lifespan of your appliances and improve the comfort of your home. - Avoid leaving your phone charging overnight Once your phone or other devices are fully charged, unplug them from the socket. This simple action prevents energy waste and helps extend battery life. - Replace your light bulbs at home Switching from incandescent bulbs to energy-saving ones may seem like an investment, but the long-term return is worth it. In some cases, energy consumption can be reduced by up to 90%, leading to significant savings on your electricity bill. LED bulbs, although more expensive, can save you around three euros per hour of daily use over a year. - Optimise your fridge usage To save energy with your appliances, ensure they are placed away from heat sources like cookers or windows with direct sunlight, which can increase energy consumption. The ideal fridge temperature for preserving food is between 3ºC and 5ºC. Remember to defrost regularly, as accumulated ice can lead to higher electricity use. - Wash clothes at 40ºC or lower For those looking to save energy, heres a tip thats often overlooked: setting your washing machine to 40ºC instead of 60ºC can save up to 55% of the energy used. Always run your washing machine with a full load to maximise efficiency. The same principle applies to the dishwasher: only use it when fully loaded and select the 40ºC programme instead of 60ºC to save up to 40% on energy. - Reduce air conditioning usage While avoiding air conditioning may be difficult, you can reduce its use by improving your homes insulation. To keep your home cool in the summer without excessive energy use, close windows and blinds during the hottest parts of the day. If you need to use air conditioning, remember to change the filter monthly, which can save up to 20% of the energy consumed. Adjust the temperature as needed and use the unit only for the necessary duration. - Completely switch off devices Dont leave TVs, computers, and other electronic devices on standby, as they can still consume around 25% of the energy. In the UK, the energy consumption of devices on standby can add up to an average annual cost of about £35. - Turn off lights when not in use It may seem obvious, but many households forget to turn off lights in rooms that arent being used. This simple action can make a significant difference in your electricity bill. - Turn off the cooker a few minutes before finishing Turn off the cooker or oven 10 minutes before your food is fully cooked, using the residual heat to finish the process. Avoid opening the oven door during cooking, as each time you do, you lose 25% of the accumulated heat, which increases energy consumption. - Ensure good home insulation Good insulation can reduce the energy needed to heat or cool your home by up to 30%. Use blinds and shutters to block sunlight during the hottest times of the day. - Choose the most advantageous electricity tariff Compare the different tariffs available and opt for the one that best suits your consumption habits. To make the choice easier, you can use an online tariff comparison tool, which helps you find the ideal option quickly and easily. - Opt for energy-efficient appliances When buying new appliances, choose models with an energy rating of A, A+, or A++, which consume less energy. If youre unsure, ask the seller for help in finding the most efficient option for your home. - Make the most of natural light Take full advantage of the natural light available in the UK. In the summer, dry your clothes outdoors, and in the winter, let sunlight into your home to heat it naturally and for free. - Use power strips with switches To avoid unnecessary energy consumption, especially with computer equipment, use power strips or extension cords with switches. Many devices continue to consume energy even when turned off. According to the Ecocasa project, turning off standby mode on devices for more than eight hours can save up to £15 annually on your electricity bill. - Invest in solar panels Although the initial inv- Dry clothes outdoors estment in solar panels is high, they can offer significant savings in the long run. In about four years, the investment may be paid off, and you could see up to a 30% reduction in your monthly electricity bill. - Dry clothes outdoors This simple habit can save you dozens of pounds over the year. By using a natural resource instead of an electric appliance, youll avoid unnecessary costs on your electricity bill.
Fonte: Adobe Stock Autor: Redação In times of economic uncertainty, renegotiating contracts and credits can be the key to restoring financial stability and finding relief from economic pressures. This process not only allows for adjusting the terms of debts and financial commitments but also offers an opportunity to reassess and improve personal financial management. Following some effective strategies can make all the difference in seeking better conditions and greater peace of mind. Firstly, it’s essential to conduct a detailed analysis of your current financial situation. Before beginning any negotiation, gather all the information about your debts, contracts, and credit terms. Understand exactly what you owe and what your monthly expenses are. This will enable you to enter negotiations with a clear and assertive view, making communication with creditors and other parties involved easier. Careful planning can help identify areas where costs can be reduced or conditions improved. Secondly, prepare for the negotiation based on concrete data. Research the market and compare offers from different financial institutions to understand the best deal available. When talking to creditors, be transparent about your financial situation and present a realistic proposal. Often, financial institutions are willing to offer more favorable terms to prevent default. Demonstrating good faith and a solid plan can increase your chances of securing a favorable agreement. Lastly, keep in mind that renegotiation is an ongoing process that should be monitored regularly. After achieving new terms, it is important to closely monitor compliance with the agreement and make adjustments as needed. Additionally, maintain open and continuous communication with your creditors. If new difficulties arise, inform them immediately and seek new ways to adjust your commitments. With a proactive and informed approach, you can turn financial challenges into an opportunity to strengthen your financial health and achieve greater stability.
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