‘Divorce and raising three girls has changed my spending habits’

Michelle Browne, family mediator at Browne & Co Mediation, has spent more than 20 years working in the area of business development, where she acquired extensive expertise in contract negotiation, workplace contracts and dealing with workplace, civil, commercial and family disputes.

Are you a saver or a spender?

Definitely a spender. Somewhere along the line, I created a narrative for myself that I will always be able to make more! I was raised by self-employed parents who worked hard and always advised that hard work would pay off, which instilled in me a good work ethic. As a teenager, I fell into bed exhausted from working at least two jobs, which I loved. The process of divorce and raising three girls, however, has changed my spending habits somewhat.

Do you shop around for better value?

Shopping around for better value for life’s larger expenses is a definite must.

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

A trip with my three girls to the Europe Hotel in Killarney, Co Kerry, is an extravagance that we love. Any time spent making memories and raising confident, caring and considerate young women is priceless to me.

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

Not so much an individual purchase – but putting money into my business is by far my best investment yet.

How did you prefer to shop during the Covid-19 restrictions – online or local?

A bit of both. Covid was such a scary time for so long and I was very happy to cocoon with my three girls for as long as it took. We spoiled ourselves with a few online purchases, which isn’t my normal mode. When I did venture out to shop locally, I took social distancing to a new level. It was always in my mind that I was protecting my parents, as our only socialising back then was sitting in my parents’ garden, chatting at a distance. It was the highlight of our week.

Do you haggle over prices?

Depends on the purchase. Having been self-employed for many years, I understand the costs involved in business – all of which are hidden costs, and many of which are on the increase. For that reason, I tend not to haggle so much nowadays.

How has the Covid-19 crisis changed your spending habits?

I definitely spent a lot less on takeaway coffees during Covid-19, but unfortunately my coffee habit is back in full swing.

Do you invest in shares?

I’ve done a lot of research, but I’m still on the fence.

Cash or card?

Card. Cash is a distant memory.

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

A coffee – Americano, no milk or sugar – is the perfect kick to my day. My hometown of Naas must have the best selection of coffees and the friendliest baristas anywhere in Ireland. I might just have a favourite, but I’ll keep it a secret.

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

Yes, some designer bags, and big trips away, but that was really in a life pre-children and pre-marriage. It was a lot easier to save then, and spending on myself was a luxury I enjoyed. To be honest, it doesn’t happen nowadays.

Have you ever lost money?

Yes, via a business venture a number of years ago. It stung for a while.

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

I live beside Punchestown Racecourse, and I’ve been religiously attending race meetings there since I was a teenager. I love racing, dressing up and admiring the fashion, but I’m a rock of sense when it comes to the gambling – €10 each way, but only if I have got a hot tip. I’ve aspirations to own a winner – it’s on the to-do list!

Is money important to you?

The value of money is. I work hard and don’t intend to stop any time soon. I plan to expand my business this year, and my mission is to create increased awareness of the cost of divorce and what can be done as an alternative.

How much money do you have on you now?

I have three daughters ranging in age from 10 to 19, so how much money do I have on me? Very little.

In conversation with Tony Clayton-Lea