Me and My Money: Paul Dwyer

Are you a saver or a spender?

It depends. I am not afraid to splurge out and spend. I think some things, especially occasions, are priceless. However, I balance that with a lifetime of running my own businesses and understanding you need to save to sometimes survive – and other times so that you can avail of an opportunity.

Do you shop around for better value?

No, service is more important to me. Buying on price is often a false economy, and, if I have a long-term relationship with a supplier of any kind, they know to “take care” of a good client. I rarely pay list or full price for anything.

What has been your most extravagant purchase and how much did it cost?

I bought myself a Bentley for my birthday a few years ago. Yes, it was when the rest of the country was crazy, too. It was six months old, and I got it for €200K. That was approximately €75k less than it was bought for.

What purchase have you made that you consider the best value for money?

Six years ago I bought an old Pajero jeep from a friend for €500. I have used it for taking my dogs to the beach every day for the past six years. Now that’s value.

Learning the ropes on tax relief as an ‘accidental’ landlord

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Numbers paying €200,000 tax exile levy slump

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Should everyone in Ireland be paid €752 a month for doing nothing?

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How do you prefer to shop – online or local?

If it is a commodity or something like electrical goods, I am happy to purchase online. I love to support small local businesses, so for most other items I try to find a good local suppler and enjoy the entire buying process.

Do you haggle over prices?

Yes, absolutely. As I said, I rarely pay full price for anything. I love to get a deal.

Has the recession changed your spending habits?

Yes, I am much more likely to ask myself do I really need this – or perhaps that’s not the recession and I am becoming more sensible as I get older.

Do you invest in shares?

No. Because of the nature of the work I do, I feel it’s best not be associated with shares in any way. Many cybercriminals carry out activities in order to affect share price. I prefer to have a clear conscience.

Cash or card?

Card, but I miss the psychological feeling of being paid real cash and, of course, the actual feel of handing it over. It’s not as much fun with plastic – to most people these days, money is just digits changing on a computer screen.

What was the last thing you bought and was it good value for money?

A Canali suit at Louis Copeland.

Have you ever successfully saved up for a relatively big purchase?

Yes, a boat. I know nothing about boats, but always loved the idea of owning one. I won a large contract with a client in London a few years back, and decided to save a monthly percentage of the earnings into a separate account. A couple of years later, all aboard!

Have you ever lost money?

Yes, all the time. I blame it on the amount of caffeine I drink. I am always losing wallets, keys, you name it.

Are you a gambler and if so have you ever had a big win?

I am not a gambler; I do enough risk-taking as an entrepreneur in business.

Is money important to you?

It’s oxygen, and we all need it to breathe. It’s not what motivates me, but I do know and realise it makes the world go around – and a tool I use in business.

How much money do you have on you now?

About €50, just enough to survive a mugging from my daughter, Ava.

In conversation with Tony Clayton-Lea