Are you a saver or a spender?
My mortgage accounts for what I might call “savings”. I don’t spend a lot, but when I do I wouldn’t be inclined to deny myself on account of the price.
Do you shop around for better value?
When buying for myself, I’ll spend 10 minutes shopping around and, after that, I start thinking about how I could be putting that time to better use. If I’m buying for TenderScout, I’ll almost always get three quotes!
What has been your most extravagant purchase and how much did it cost?
It was paying a couple of grand for premium tickets to the Kate Bush concerts in London a couple of years ago. It was a once-in-a-lifetime event experience, and I’d have probably paid a multiple of that if I’d had to.
What purchase have you made that you consider the best value for money?
In New York, years ago, I bought a Burberry coat that cost a fortune, but which I suspect I’ll wear for the next 40 years. It’s a classic and on a “cost-per-wear” basis it was almost for nothing.
How do you prefer to shop, online or local?
I buy almost everything online – food, clothes, shoes, insurance etc. If I can avoid going into a shop I will, except for fresh bread, which is a weakness of mine. Do you haggle over prices?
Not often, and when I do I’m always surprised to get a discount. I’m more interested in the quality and value of what I’m buying, rather than the price, and I’m willing to pay a premium to be assured that no corners are being cut.
Has the recession changed your spending habits? I was fortunate enough that the recession didn't really impact my earning potential. At the same time, I was investing my earnings into TenderScout, and increased availability of resources actually meant I could make the money we had go further.
Do you invest in shares?
I used to. Right now, all my eggs are invested in the success of the business.
Cash or card?
I rarely have cash, so it’s the card. I travel a bit for work and the convenience of a piece of plastic that lets me buy coffee anywhere in the world can’t be beaten.
What was the last thing you bought and was it good value for money? I've just bought a couple of pairs of Asics Nimbus runners, to train for the Dublin City Marathon. The value of well-cushioned footwear compared to knee surgery is incalculable!
Have you ever successfully saved up for a relatively big purchase?
No. I tend to make big purchases, like the house or car, and figure out how to pay for them later. There’s no greater motivation to earn money than when you’ve already spent it, although I admit that’s not very good advice for anyone.
Have you ever lost money?
We bought our house about a week before the recession, so it’s only getting back to what we paid around about now. I never looked at the house as an investment, rather as a place to live, so I didn’t lose any sleep over it.
Are you a gambler and, if so, have you ever had a big win?
I bet emotionally, so gambling is a bad idea for me. If I bet on a horse, it’s guaranteed to fall at the first hurdle.
Is money important to you?
I’m totally unmotivated by money – so long as there’s enough to keep the kids in football jerseys. I’m much more motivated by building a world-leading business than the financial reward of doing that.
How much money do you have on you now?
I’ve €1.75 in my pocket after buying lunch for a colleague today.
tenderscout.com
in conversation with Tony Clayton-Lea
