‘I’ve learned many lessons, mostly through my mistakes’

Are you a saver or a spender?
My natural inclination would be towards spending but as I get older I've had to rein in those instincts. It's funny how family and home commitments can force an attitude adjustment.

Do you shop around for better value?
I do, and I'm actually getting better at it. Having said that, I will splash out on a treat once in a while.

What has been your most extravagant purchase and how much did it cost?
We're lucky enough to have a great house in Dún Laoghaire. I'm from Kinsale, so being near the sea was high on the list of priorities when we were house hunting. My wife originally pointed out the house to me, and it's worth every penny.

What purchase have you made that you consider the best value for money?
It would be wrong to live in Dún Laoghaire and not get out on the water. I have a laser dinghy that brings so much fun and pleasure, and it has been a fantastic investment in my free time.

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How have you preferred to shop during the Covid-19 restrictions – online or local?
I am honestly passionate about supporting local. I was lucky growing up in Kinsale that we had plenty of thriving local businesses to choose from. It's similar in Dún Laoghaire, too, as there's a lovely village feel in the area, and I rarely go to town for shopping.

Do you haggle over prices?
I wouldn't have had the confidence to do it years ago, I would have been mortified. But these days it's more acceptable. I managed recently to get savings on some screen repairs for a couple of our tech devices in the house that we can't do without at the moment.

How has the Covid-19 crisis changed your spending habits?
I stopped buying clothes for myself and upped my spending on the kids. We would have restricted presents mostly to birthdays and Christmas in the past, but we'll never have a better reason to treat them than right now, and we're lucky to be able to do it.

Do you invest in shares?
I've been investing to some extent for nearly 20 years. I've learned many lessons, mostly through my mistakes. The most exciting investments I'm making at the moment are in peer-to-peer lending. I've discovered some great ways online to get involved with local projects that need to raise money fast. I've invested small amounts in things like an expanding local deli, an electric scooter rental business, a panel beater and more. It's a novel way to raise money and a good way to get a return on capital while making a positive impact on the local economy. It's nice then to be able to give business to a local enterprise that I've helped support.

Cash or card?
Card. It's the most practical option now. Even the change I kept for parking has been jettisoned in favour of paying via my mobile.

What was the last thing you bought and was it good value for money?
My car. It's a keeper, and once we're released from Covid-19 restrictions, I'm looking forward to many, many long and happy road trips.

Have you ever successfully saved up for a relatively big purchase?
When I was in my late 20s, I went in on a property deal with my dad. It was an ambitious move at the time and involved a year of not going out and not spending a penny on anything while I scraped together the cash it needed. At the end of it though, following renovations and a lot of hard work, I got a nice lump sum back. It meant a lot to me at the time and the lessons have stuck with me.

Have you ever lost money?
I have, unfortunately. I've always had an interest in property and sadly I learned some harsh lessons during the Celtic Tiger years. The experiences fuelled a more risk-averse approach to life.

Are you a gambler and, if so, have you ever had a big win?
I am not. I don't understand odds, but I bet on Munster and Ireland games. I used to be an avid better on Sunderland when Roy Keane was manager.

Is money important to you?
It is in that it provides security for myself and my family.

How much money do you have on you now?
Nothing – it's card only.

In conversation with Tony Clayton-Lea