Are you a saver or a spender? I am definitely a spender. The only saving strategy I've ever stuck with is consistent investment in my pension. I'm hoping that this long-term investment strategy will work out in the end.
Do you shop around for better value? I think most people have become more value conscious over the past 10 years. I commute, so fuel value is important to me, and I am often found sweating on the M11 with the reserve fuel light on trying to ensure I get to my service station of choice.
What has been your most extravagant purchase and how much did it cost? The most I have ever spent on an individual item, outside of my family home, is just over €25,000 on an Executive MBA at the UCD Smurfit School of Business. The decision at the time was either to invest my SSIA (remember them?) in bank shares or in improving my education. I am happy to have chosen education, one of the few long-term investments in the market still providing solid returns.
What purchase have you made that you consider the best value for money? An engagement ring. Eleven years of blissful marriage and three wonderful kids to show for this investment.
How do you prefer to shop – online or local? I'm generally last minute with my shopping, so online doesn't really work for me. Where I have gone online for purchases, such as insurance and utilities, these have generally worked out, although I must do more to shop around at the end of each year or discount period.
Do you haggle over prices? I am not a haggler. I prefer a retailer to offer their best price and allow me as a customer to make my purchase decision on this price. I would be absolutely no use to anybody in a marketplace, other than the seller.
Has the recession changed your spending habits? Absolutely. It made me conscious of how much money I was wasting. I saved over €50 per week alone by changing grocery shopping patterns and putting more thought into our weekly menu. However, I am probably taking way too much credit for these changes – my wife deserves the credit here.
Do you invest in shares? I have never had enough spare money to invest in shares, and I am not sure the fee structure of investing in shares represents value for smaller investments.
Cash or card? I rarely have cash in my wallet, so definitely card. There are very few places where you cannot use your card now, and it makes it so much easier to track your spending patterns.
What was the last thing you bought and was it good value for money? The last thing I bought was a pair of shoes discounted to just under €50. Time will tell whether the good price represented good value.
Have you ever successfully saved up for a relatively big purchase? Saving a deposit for a home has been the only time I have saved a significant amount for a specific purchase. This was at the time when you could get a mortgage with an 8 per cent deposit. I feel for first-time buyers now having to save for a deposit of up to 20 per cent of the purchase price of a property.
Have you ever lost money? I have never quite gotten over the €20 I lost to a three-card trickster walking down Las Ramblas in Barcelona about 15 years ago. It made me more risk averse. I don't think I have taken enough risks since then to lose anything of significance.
Are you a gambler and, if so, have you ever had a big win? Other than an occasional lotto ticket I don't gamble. I won €100 for a match three on my local GAA club lotto this year, but I'm not sure that counts as a 'big win'.
Is money important to you? The accumulation of money is not important to me. Having money to support my family and to allow me make good decisions for them is.
How much money do you have on you now? €16.50, and my wife will be amazed I have even this much. I don't tend to have cash in my wallet.
in conversation with Tony Clayton-Lea
