Are you a saver or a spender?
My first professional job was with a payroll company. I learned early how to read a paystub and the value of voluntary savings and pension deductions. Although my family would probably say I appreciate the finer things in life, you can only save so much before you want to invest back in your lifestyle.
Do you shop around for better value?
Very inconsistently! My father taught me the expression “penny wise but dollar poor” and I think sometimes I’ve overcorrected that advice. I was never the person to clip coupons or track upcoming online sales, but boy do I really labour to squeeze a few more months out of a busted mobile device or old television.
What has been your most extravagant purchase ever and how much did it cost?
It has to be any long-stretch holiday I’ve treated myself to, as those hotel bills can really add up. I am American-born, but Irish naturalised now for 10 years, I can’t say that I ever took more than a four-day weekend as a vacation throughout my 20s. I think it took living in Ireland and Europe to fully embrace a healthy concept of work-life balance. I noticed very early on how encouraged I was to take a long stretch of two-three weeks, just to switch off. I think the most lavish among them was in Dubai, living my best life in five-star hotels. Final answer? Let’s call that bill about €12,000.
What purchase have you made that you consider the best value for money?
Echoing my stubbornness, I bought a used, mint-condition Specialist cycle from a friend for €1,000 with the intention of having a new hobby in road cycling. That was 12 years ago, and there are probably more replacement parts on her than originals. Although I cycle enough to justify an upgrade, she has followed me across four countries, we well as across the Wicklow mountains and the Italian Alps. I love that bike.
What ways do you prefer to shop during the Covid-19 restrictions - online or local?
I did spend more of the spare isolation time thinking about streamlining home routines, so there was a steady stream of boxes coming from all sorts of home goods and electronic stores. I found more joy, though, in finding ways to support local Irish outlets, with nice walks to Lott’s & Co and Fallon & Byrne for some artisanal groceries. And when the local garden and hardware stores opened back up, I was first in line.
Do you haggle over prices?
Almost never. Let’s face it, you’re never haggling with Amazon directly! It’s always someone local or someone dedicated to making the knowledge of that product their career, and I appreciate those people’s time and service above all else.
How has the Covid-19 crisis changed your spending habits, and is there something you have either stopped buying or started buying, as a result?
Mostly buying Deliveroo, and it needs to stop! I love that this clever bicycle delivery network has helped give a nudge to the many diverse and international food kitchens we’ve seen pop up all over Dublin over the past 10 years. It’s amazing to know that I can boost better Indian food or innovative pizzas than some of the places I used to go to when I lived in the US.
Do you invest in shares?
Absolutely, but rarely as a gamble with an individual company and mostly in ETFs that mimic stock market performance over time. I am a big advocate for the Warren Buffet school of thinking: that markets are efficient and to invest in areas like an S&P 500 Index fund is to bet on industry success and long-term prosperity.
Cash or card?
Mobile phone, naturally.
What was the last thing you bought and was it good value for money?
My cast-iron skillet. The things I value most seem to be the ones that represent a lifestyle upgrade. Cast-iron skillets can be a pain to maintain but once you fall in love with them as a kitchen tool, you reignite that love of the kitchen and great farm-to-table Irish cuisine.
Have you ever successfully saved up for a relatively big purchase?
The last really memorable time I did that, embarrassingly, was to buy a powerhouse desktop computer when I was in university. Even then I had to take a loan out from my father, but I used the computer to create a payback invoicing schedule. And yes, he charged me interest - God bless him for that.
Have you ever lost money?
Almost every other week, and certainly lately. The downside with a deep faith in the stock market is being prepared to watch some heavy week-over-week losses in uncertain economic times.
Are you a gambler and if so have you ever had a big win?
Absolutely not, unless you count some of my flutters with cryptocurrency. Stay away from that game, or at the very least do not fool yourself into thinking it’s investing.
Is money important to you?
I think it is because of what it can represent, but it’s not as important as we’re often led to believe. Time, after all, is the most valuable commodity there is.
How much money do you have on you now?
I pay for everything with my mobile phone. That said, I have a double-sided pirate coin, but that’s just for luck and comes with a completely different tale!
