Are you a saver or a spender?
I get better satisfaction out of saving than spending. There are plenty of rainy days down the road and I know I'll be glad that I wasn't a spender.
Do you shop around for better value?
Most definitely. It's amazing how much you can save by taking the time to shop wisely. Mind you, I'll spend more time shopping around for larger-costing items than I would for a pint of milk. Penny wise, pound poor comes to mind.
What has been your most extravagant purchase and how much did it cost?
I bought a pair of Oakley sun glasses once – a total impulse purchase. They cost me €150, and they broke two days later. Money badly spent. Some people like buying expensive items. I get more satisfaction knowing that I got myself a bargain. We're all different.
What purchase have you made that you consider the best value for money?
A motorbike trip to Siberia. In 60 years I will still be reminiscing about the experience I had. It wasn't a cheap trip – mind you, if you smoke a packet of cigarettes a day you spend €3,360 a year. Hopefully I'll have better memories of the trip to Siberia than I would have from the cigarettes!
What ways do you prefer to shop – online or local?
Online from Irish companies. I am a huge advocate of buying Irish. The multiplier effect of money circulation when purchasing Irish goods and services is, and continues to be, a huge contributor towards Irish jobs.
Do you haggle over prices?
Always. I learned some tactics from some of the best hagglers in the world in India! They are pros.
Has the recession changed your spending habits?
Most definitely. I am a lot more conscious about value. I try to question the norm by asking myself the following: do I need this? Why is it costing so much? How can I get this for free?
Do you invest in shares?
Yes – but I do not trust anyone's advice on what or when to buy, simply because no one has a clue. Shares are a medium for glorified gambling.
Cash or card?
Card. The concept of carrying pieces of metal around in my pocket is already alien to me. Now that you can swipe and go makes it ever more encouraging. Wait until all transactions are done through your iPhone – I wouldn't like to own a cash transit business.
What was the last thing you bought and was it good value for money?
I bought a vinyl record player and 10 records for €50 on DoneDeal. It will be worth double in three years time, so yes.
Have you ever successfully saved up for a relatively big purchase?
Yes, as child I ritually saved every penny I was given/earned. Someone advised me to buy Bank of Ireland bank shares in 2006, which I did. Did I mention never to take advice when it comes to investing?!
Have you ever lost money?
Yes, of course. However, I hope that as every day passes, I learn one more way to avoid that occurring again. If you can find a way to avoid losing money it is as good as earning it.
Are you a gambler and if so, have you ever had a big win?
No – the risk reward does not make sense. I weigh every financial decision up and work out where it fits on my risk-reward scale. Unless the numbers work I see no point in investing/spending. Only one person wins overall in the gambling world and it's rarely the punter.
Is money important to you?
It is insomuch as, unfortunately, it's what drives us all on a daily basis, but relatively speaking it is unimportant. Health, family and friends are what come first for me.
How much money do you have on you now?
Just a couple of bank cards – none of which I would depend on to buy me my lunch!
In conversation with Tony Clayton-Lea
