As Emer Kirwan of Jigsaw Business Solutions in Wexford says, these people are not “irresponsible”. They haven’t done anything “wrong”. It’s just that they’ve “never been shown how to manage money properly”.
Emer feels that it’s a societal problem and one that should be looked at in the context of our education system.
“We try to teach young people the Pythagorean Theorem, which I still don’t understand, but not how to read a payslip,” she says.
“We hand self-employed people a Form 11 and a tax deadline, but no road map or set of instructions.”
As a chartered accountant with over 30 years experience, Emer now works as a “financial mentor”, supporting people and small businesses who feel overwhelmed by their finances.
Emer Kirwan.
“I hear the same things every day,” she says. “People tell me ‘oh, I’d be mortified to show you my accounts’ and ‘I have no idea what I’m doing’ or an actual recent quote – ‘I would rather go for a smear test than look at my tax returns’.
“Behind the humour, there is real fear, shame and confusion, not just around tax, but around budgeting, pricing, saving, retirement and how to plan when you don’t know where to start.”
Again it comes back to school for Emer.c
“Our tax system is complex, and we should definitely engage a professional, but we should also educate ourselves around the basics. This is not really a story about tax – it’s about life skills. The ones we should all have been taught but weren’t.”
Filing tax returns. Stock image
News in 90 Seconds – October 20th
Seeing this shortfall, Emer has built a system to develop financial clarity without jargon or shame.
“This is not about pretending it is simple, it is not,” she said. “And in most cases, engaging a professional is not just helpful, it is essential.
“But that does not mean people should be left in the dark. We need to be doing more to help individuals, especially sole traders and small business owners, understand the basics – what they are responsible for; what they can claim; what is coming down the road.
“Not in a language they do not understand. Not in fear. But in language they can relate to, and act on.
“Because right now, far too many people are operating in the dark, afraid to ask, and quietly hoping they have done it right.”