ME AND MY MONEY - Barry Gray, head of marketing and proposition, BOIPA (BOI Payment Acceptance), a technology alliance between Bank of Ireland and EVO Payments International, providing card payment solutions to Irish businesses
Are you a saver or a spender?
Both.With three children it is very difficult not to be a spender! Having said that, my wife and I also try to save for rainy day purposes and holidays, as well as planning for the future educational needs of our children.
Do you shop around for better value?
Yes, I would tend to shop around online and look for good value before making a purchase.
What has been your most extravagant purchase and how much did it cost?
Probably my most extravagant purchase was a six-metre Rib (boat) that, for varying reasons, has sat idle in our driveway ever since, much to the annoyance of my wife and to the laughter of friends.
What purchase have you made that you consider the best value for money?
Our family home without question. We built in Howth in 2008, and it has proven a great investment both financially and also in terms of rearing our family in a wonderful location.
How do you prefer to shop – online or local?
Generally, I shop locally but I will also shop online for a bargain or a product not available locally.
Do you haggle over prices?
I worked in McGuirks Golf in my college years and witnessed first-hand how people would haggle over the price of a golf ball. So absolutely, if you don't ask, you don't get. I also enjoy the banter with the person I'm haggling with.
Has the recession changed your spending habits?
Of course. Like many others, I became far more hyper-aware than before of our domestic outgoings, and it definitely resulted in more modest day-to-day family spending. I'm a big Lidl fan! The recent economic recovery has been an extremely positive development, and it has allowed us to slowly become less frugal in our spending habits. Fingers crossed that this trend continues.
Do you invest in shares?
I haven't invested in shares in many years, but I do still hold shares in Bank of Ireland and in CRH, which is performing well. I have no immediate plans to invest further in the stock market.
Cash or card?
Card. The prevalence of contactless payments means I very rarely pay for anything in cash. Contactless is more time efficient and means less time spent queuing at ATM machines, a pet peeve of mine.
What was the last thing you bought and was it good value for money?
A family holiday to a resort outside Barcelona. It was good value in terms of travel and accommodation, and then also the daily cost of living while there. The resort also kept the kids busy, so in terms of adult down-time it was priceless!
Have you ever successfully saved up for a relatively big purchase?
Yes, typically when saving to buy a new car and, of course, building up a deposit for our family home.
Have you ever lost money?
See my answer about the Rib! On a serious note, I have lost some money on individual stocks in the past, but overall I am probably evens in my share dealing exploits.
Are you a gambler and if so, have you ever had a big win?
I enjoy the very occasional bet on the golf majors and other big sporting events, but the last decent win I had was on Adam Scott in the 2013 Masters. I had €50 on Ireland to beat France in the Euros at 11/1 with an online exchange. I was very tempted to cash out at half time for about €230, but unfortunately my heart ruled my head and we all know how that ended!
Is money important to you?
Health is the most important thing to me, but money is obviously important to a degree in terms of supporting my family, but it does not dictate our lives.
How much money do you have on you now?
Nothing! I did away with my wallet over a year ago and now just carry around cards. Thankfully, most shops, restaurants and coffee shops now accept contactless payments, so it is one less bulky thing to carry around in my pocket.
