Are you a saver or a spender?
I would like to be a saver but the reality is I'm a spender, so I don't save as much as I should.
Do you shop around for better value?
Most of the time. The internet makes that easier, but I am prone to the odd impulse buy. I am not as thorough when it comes to changing service providers regularly. That said, customer service and good value for money are two things that are important to me in my personal and professional life.
What has been your most extravagant purchase and how much did it cost?
When I was 21 (a while ago now!), I bought a 1968 Ford Mustang Convertible, which I begged and borrowed, though not stole, to buy. Where I lived in London, there was a US Air Force base located nearby and I bought the car off one of the US servicemen for £6,700. If I still had the car now, it would be worth multiples of that.
What purchase have you made that you consider the best value for money?
Probably the house we currently live in. We moved to Ireland in 2007 and rented here for a number of years before finally finding the right house in the right location. Given where the housing market was at, we were fortunate in our timing.
How do you prefer to shop during the Covid-19 restrictions – online or local
Unfortunately, most of the local shops – with the exception of the supermarkets – are closed at the moment, although some are now opening with restricted hours.
I have seen some shops move to offer an online option. I think it is vitally important we support local businesses in whatever way we can during this challenging time.
Do you haggle over prices?
No.
How has the Covid-19 crisis changed your spending habits?
As a family, we are spending less during Covid-19 – no takeaways, or coffees at the office, and virtually no spending on diesel and petrol. We are looking forward to the restrictions being lifted and have had a couple of birthdays in the past two months that need to be properly celebrated.
The longer term implications of Covid-19 may well lead to changes in spending habits and increased remote working.
Do you invest in shares?
I have a very small shareholding, which is kept in the vain hope that the value might return some day.
Cash or card?
Card always. When I lived in London, I was wholly dependent on using a Visa debit card and couldn't believe how cash was used so widely in Ireland. I think that has changed in recent years and the advent of contactless payments has advanced the transition away from cash.
What was the last thing you bought and was it good value for money?
Some new furniture for my home office. It was in a sale, so yes it was probably good value. Given the amount of time I am working at home currently, due to Covid-19, it is getting good use.
Have you ever successfully saved up for a relatively big purchase?
Yes. I try to set goals and put something aside each month towards that goal, but, because I'm more of a spender than a saver, that can be challenging.
Have you ever lost money?
Whenever I have played the Lotto.
Are you a gambler and, if so, have you ever had a big win?
No. I've had an occasional flutter on the Grand National, but have never come away with anything.
Is money important to you?
Yes and no. Working in the financial sector, I am surrounded by the constant talk of money every day. While it's important to provide a level of security for my family, I can honestly say that the accumulation of money is not something I obsess over. Money is one aspect of life: it is not everything.
How much money do you have on you now?
€10.
In conversation with Tony Clayton-Lea
