Are you a saver or a spender? I'm definitely a spender. The concept of saving money has always been alien to me although I wish it were otherwise sometimes.
Do you shop around for better value? I'm not a great shopper. I like to get in, get what I want and get out quickly. I will search for the cheapest place online before I begin the physical shopping – much better time management.
What has been your most extravagant purchase and how much did it cost? I'm not really an extravagant purchaser. I've plenty of foolish purchases but none would be considered "extravagant".
What purchase have you made that you consider the best value for money? My Toyota Avensis Estate. I bought it last year for €8,500, it costs me €60 a week in diesel and I think the tax was €120 for the year. My previous car was a petrol-guzzling Chrysler Grand Voyager, which cost €230 a week in petrol.
How do you prefer to shop – online or local? I always shop local whenever I can for several reasons. I always prefer to support local businesses where possible, and there's the added advantage if something goes wrong the shop is just up the road. I rarely, if ever, buy anything online.
Do you haggle over prices? I almost always haggle, particularly when it comes to hotel rooms. I find there is always a bit of "wiggle room" in the price. Everybody likes to feel they're getting a good deal. In my business I try to ensure that I'm giving everyone the best possible deal, so I like to get good deals, too.
Has the recession changed your spending habits? Yes, definitely. I'm no longer spending the bank's money. I have no overdraft and no credit card, so I spend absolutely within my limits. It wasn't always this way!
Do you invest in shares? I have invested in shares in the past, but I think you really need to know what you're doing in this area as it is easy to get burned – and markets can be so volatile, particularly these days.
Cash or card? Cash is king. I use cash or a debit card. Credit cards are a recipe for disaster and fiendishly expensive interest rates.
What was the last thing you bought and was it good value for money? I bought an iPad, which, while it cost €732, has proved extremely useful in my business. I can whip a PowerPoint presentation in full HD out of my pocket at a moment's notice. You never know who you might bump into and where.
Have you ever successfully saved up for a relatively big purchase? When I was 13 years old I started teaching music (many of my students were older than I). My goal was to save £978 (a lot of money in 1973) to buy a state of the art keyboard. It took me a year but I did it, and I was very proud handing my father the money when it came to paying for it.
Have you ever lost money? I am quite an expert at losing money. I see a lot of young entrepreneurs who have neither the experience of making or losing money.
Both are essential to make for a fully rounded entrepreneur, and both carry their lessons. Are you a gambler and if so have you ever had a big win? My gambling, in the normal sense, is restricted to a few euro a week on the Lotto.
I’ve been to a racetrack maybe three times in my life and I always won. I used the basic principle that on any given day a percentage of favourites will win so I follow the money and adjust my stake accordingly. I’ve always won although I suppose three times is hardly a trend.
Is money important to you? Money is probably the least important thing in my life. As long as I have enough to feed my family and keep a roof over my head, keep the lights on, the heat on, and food on the table, I'm happy.
Anytime I’ve made big money, I gave lots of it away. I think it is very important if someone is capable of making a lot of money to have a social conscience. As my dear departed mother used to say, “You can’t take it with you”.
How much money do you have on you now? Right now, I have €51.37 in my pocket.
In conversation with Tony Clayton-Lea
