Are you a saver or a spender?
I was a spender until I met my wife. I would have been comfortable with €5 left in my bank account a day before payday, but I was quickly informed that was ridiculous. I think the biggest turning point was when we opened a joint savings account, as I started to see it as our money as opposed to just my own. There is a greater sense of responsibility and shared investment when you are working towards a goal with another person. Moral of the story: try to pick a partner who is more sensible than you when it comes to money!
Do you shop around for better value?
I would shop around for electronics or those big-ticket items like furniture or cars, but with the smaller things I wouldn’t bother. One thing I am a stickler for is petrol – I always have an eye on the lowest price per litre. Although I probably waste more petrol than I save by searching near and far.
What has been your most extravagant purchase and how much did it cost?
While counting our pennies to try and secure a mortgage this year, I overheated in the intense summer sun and impulse-purchased a hot tub. My wife was not too pleased but, considering it was the best summer to date, it was certainly worth the money.
What purchase have you made that you consider the best value for money?
I bought a new Toyota CHR hybrid this year and ditched my expensive twin turbo 5 series. The savings on fuel, tax and even insurance have definitely made it a great value-for-money purchase.
How do you prefer to shop – online or local?
I prefer to see things with my eyes, having been fooled by online shopping in the past. I am not a fan of shopping at all so will try to have a plan to be in and out in the shortest amount of time possible. Regarding the food shop, the local Lidl or Aldi do just fine. I generally aim to be in and out within 10 minutes flat and pride myself on shaving minutes off the total where possible.
Do you haggle over prices?
Yes, my mother always taught me to try for a better price, and I am pretty comfortable haggling, even more so if I think I am being ripped off. I don’t see the value in haggling from the local seller or for hand-made crafts, as I think that’s money worth spending. When someone takes the time to explain the process or you can simply see the time and effort involved in making something unique, the price becomes even more justified.
Has the recession changed your spending habits?
Not at all. I was in my college years during the worst of the recession and therefore didn’t have money to spend anyway. I try to prioritise the necessities in terms of saving and then enjoy what is left.
Do you invest in shares?
I have yet to get involved in shares. I would not be the type to go for high-risk shares and expect a big win or loss, and would keep money in the safer investments. My brother tried to get me into the cryptocurrency market a few years ago and, had I listened, I would have done well. The next opportunity that comes my way, I will certainly heed.
Cash or card?
I use a card for everything, but the only thing I find frustrating with the card is the inability to tip in most places. I have seen some that give you an option to tip when paying, and I can’t wait for that to come in across Ireland. I hate when the pizza delivery guys arrive, and I have no change. It’s a terrible feeling and I spend ages searching the house for loose coins just to have something for them.
What was the last thing you bought and was it good value for money?
I bought a drone last week, flew the thing three times before it decided to go as high as possible and fly away, never to be found again. I think if I hadn’t lost it that it would have been good value for money – it cost only €60 – but with its flyaway antics, perhaps not.
Have you ever successfully saved up for a relatively big purchase?
My most expensive purchase I have saved up for would definitely be our house, which we bought earlier this year. Here’s to the next 35 years of debt!
Have you ever lost money?
No. With the obvious exception of drones, I tend to keep hold of my belongings. I have never lost my wallet, keys or phone. This means the small joy in life of finding a tenner in the pair of jeans you haven’t worn for a while doesn’t happen for me.
Are you a gambler and if so have you ever had a big win?
A few years ago my brother took me to Las Vegas as a Christmas present. I gave the gambling a try, but quickly realised it was not for me. With the 50/50 odds of red or black, I came out worse off every time. It was after losing a few hundred dollars it became clear that the only benefit of being at the table was the free drinks.
Is money important to you?
Money is important to everyone in the sense that they either do not have it, or they want more of it. To me, not having to worry about money would be the biggest luxury, enough to live life as you want and not be constantly checking your bank account.
How much money do you have on you right now?
I have about £3, a heap of five cent coins, and some Canadian dollars in my wallet. Basically, nothing I can use!
in conversation with Tony Clayton-Lea
