Your Money

‘A trip away with my sister before she died was the best value for money’

Me & My Money: Niall Cribben, managing director and valuation adviser, Duff & Phelps

Niall Cribben: ‘I know the importance of money in order to pay the bills, but I’m aware it can’t buy happiness.’ Photograph: Conor McCabe Photography

Tony Clayton-Lea's face
Tony Clayton-Lea
Mon Apr 20 2020 - 05:20

Are you a saver or a spender?
I am a little bit of both. I like to be prepared for a rainy day.

Do you shop around for better value?
This is very much dependent on the price threshold. For low-value items, I tend to live and buy in the moment. For high-price items I tend to shop around.

What has been your most extravagant purchase and how much did it cost?
I made a bet when I bought my house that I could live without a television. I am glad to report I lasted a solid four years. However, I finally caved to peer pressure from visiting friends and spent more than €1,000 to facilitate their entertainment. Let's just say I am now an expert in TVs.

What purchase have you made that you consider the best value for money?
My sister sadly passed away last year after fighting cancer for almost 10 years. To celebrate our precious time together, I organised a trip to a wellness and yoga retreat centre in Marbella. To be honest, it cost me a small fortune. However, it was without doubt the best value for money. As the old saying goes, there is no price on love and happiness.

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How do you prefer to shop: online or local?
I do my utmost to support local traders wherever possible – even more so now during these difficult times – whether that is beside me at our city centre offices or at home in Churchtown.

Do you haggle over prices?
Haggling, I believe, is part art, part science. Much like performing valuations.

Has the recession changed your spending habits?
So far we've managed to stay consistent in our shopping habits. However, during my recent visits to the supermarket, I have witnessed a sudden spike in toilet roll sales. This in turn has led me to reconsider our current shopping habits. I can feel myself surrendering to the panic-buying of toilet roll, so I can neither confirm nor deny that my spending habits will remain consistent for too long.

Do you invest in shares?
Yes.

Cash or card?
I resort to debit/credit cards most of the time. I'm delighted to see the Minister for Finance and the banks' new contactless policies seeking to increase the limit from €30 to €50.

What was the last thing you bought and was it good value for money?
As the world is adopting to the working from home environment, I recently purchased a new monitor. It is worth its weight in gold and makes the transition to working from home that bit easier.

Have you ever successfully saved up for a relatively big purchase?
I was very fortunate to purchase my home in 2016 after 34 years of intense saving – although my Communion and Confirmation piggy bank balances are in the red since then.

Have you ever lost money?
Yes, I lost €5 last month playing golf – it was one of my more reckless investments.

Are you a gambler and, if so, have you ever had a big win?
I can't say I am a gambler but I have taken an odd punt over the years. My biggest win was 14 years ago when I received a fantastic tip on the day we were finishing up for the Christmas holidays. I was told I should go big on this tip so I did just that. I've never gone big since, but I am forever grateful for that tip.

Is money important to you?
I know the importance of money in order to pay the bills, but I'm aware it can't buy happiness.

How much money do you have on you now?
It is rare, but I have €120.

In conversation with Tony Clayton-Lea