‘Whenever I can save time by spending money, I usually do and I never regret it’

Sile Walsh specialises in leadership and organisational development, focusing on the intersection of inclusion, psychological safety, and performance. She is the author of Inclusive Leadership: Navigating Organisational Complexity. silewalsh.com

Are you a saver or a spender?

I enjoy investing money in experiences that matter to me, such as dining out with friends, travelling, exploring new adventures, or purchasing items I truly value. In my early twenties, I faced a hefty bill of over €1,000 and, without any spare funds to settle it, I had to rely on someone’s help. It took me months to repay the debt and it was a pivotal moment that drove me to prioritise financial stability. Since then, I’ve made a conscious effort to balance spending on enjoyment with saving every time I earn income, so I don’t ever find myself in a similar predicament again.

Do you shop around for better value?

I love a good bargain. That said, I try not to do that with services, or if I want an experience and I can afford it. I wouldn’t let the cost stop me.

What has been your most extravagant purchase and how much did it cost?

My PhD – I am in year four of a five-year part-time programme. When you consider course fees, the cost of losing one day a week’s wages for research for several months of the year attending conferences, buying required software, new hardware and all the unplanned costs such as proof readers, and so on, it can be very costly. I did the maths recently and it has worked out at over €150,000 so far, and that was a conservative estimate.

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What purchase have you made that you consider the best value for money?

I am all about saving time and stress, so my accountant, therapy, health insurance, supervision, coaching, laptop and assistive technology to support my work are just some of the daily costs that make my life so much easier. I value time over money, so whenever I can save time by spending money, I usually do and I never regret it!

In my early twenties, I faced a hefty bill of over €1,000 and, without any spare funds to settle it, I had to rely on someone’s help. It took me months to repay the debt and it was a pivotal moment that drove me to prioritise financial stability.”

—  Sile Walsh

How did you prefer to shop during the Covid-19 restrictions – online or local?

I liked online shopping before Covid as it saved me time and energy. I love trying to keep it local but the ease and speed of the delivery are always important to me.

Do you haggle over prices?

I don’t like haggling. That said, I was in Morocco last winter and I had to develop some haggling skills as I was being charged a fortune even by Irish standards. Two days in the souks and I was in the flow of haggling, no bother – but I still don’t like it.

[ Hugh Wallace: ‘I lost a lot of money during the financial crisis. Once you get badly burned, the fear never leaves you’ ]

How did the Covid-19 crisis change your spending habits?

I was able to save more than before as I had a lot less travel. The other thing was how much I spent going to coffee shops. I ended up investing in a few necessary home appliances that reduced those expenses.

Do you invest in shares?

Not directly but I have a fantastic pension adviser so I don’t spend too much time thinking about shares.

Cash or card?

Card, although it’s probably more accurate to say my phone because I have started to get into the flow of paying that way. I am always a little anxious, however, that it will die, or the tech won’t work.

What was the last thing you bought and was it good value for money?

I ended up in a badly stocked airport lounge during a work trip a few months ago and, in a fit of frustration, I went and signed up for a priority lounge pass. And I have to say it makes travelling so much easier and enjoyable.

Have you ever successfully saved up for a relatively big purchase?

The interesting word here is “big”. When I was 18, it was a car; when I was 28, it was a luxurious holiday, but now it’s peace of mind. Anything that gives me security and the ability to move forward in the direction I want, I plan for and do it.

Have you ever lost money?

I am sure there have been a few notes here and there over the years.

Are you a gambler and, if so, have you ever had a big win?

Not in the traditional sense, no. I just don’t have a poker face.

Is money important to you?

I don’t like money for the sake of it and I don’t believe in hoarding or being defined by it but I know it gives me choices I wouldn’t have without it. I also see how money can greatly impact people’s opportunities, especially from the perspective of inclusion. For those reasons, I think it is really important that we talk about it, understand it and use it wisely.

How much money do you have on you now?

€50 because my little brother just handed me cash to pay for a taxi. Usually I have nothing.

In conversation with Tony Clayton-Lea

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