Me & My Money: Jenny Taaffe, CEO, iZest Marketing

‘In terms of business I am a risk-taker. I’m an entrepreneur through and through’

Jenny Taaffe: “I believe in ‘if you buy cheap, you buy twice’, so I will never look for the cheapest price, but I definitely like to get value.”
Jenny Taaffe: “I believe in ‘if you buy cheap, you buy twice’, so I will never look for the cheapest price, but I definitely like to get value.”

Are you a saver or a spender? I'm a bit of both! I like to put something away, but I also find it hard to resist the purchase of something fashion related. I read a great quote recently from the businesswoman Karren Brady. She says money is very hard to earn and very easy to spend. I try to keep that in mind when making financial decisions.

Do you shop around for better value? I'm a big believer in "if you buy cheap, you buy twice", so I will never look for the cheapest price, but I definitely like to get value when it comes to business or personal purchase. Quality will always win over with me.

What has been your most extravagant purchase and how much did it cost? Like most people, it's my house. We bought a house in 2006 and even though we paid a lot for it, we aren't in negative equity. It was definitely a good buy and I'm hoping to keep it long term, as an investment. Creating and building the iZest business has also been a serious investment for my husband and I.

What purchase have you made that you consider the best value for money? My car, a Nissan Qashqai. It is the best car I've ever bought – it was good value when I bought it and it's only dropped slightly in value in three years.

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How do you prefer to shop – online or local? Both. I'm a big fan of shopping locally in work and at home, supporting local food retailers. For clothes and gifts, I shop online, mainly for the convenience, as my days are so busy. There is nothing better than sitting on the couch with the iPad and going shoe shopping at 10pm!

Do you haggle over prices? When appropriate I do. I'm an excellent haggler, even if I do say so myself.

Has the recession changed your spending habits? I think the recession and having kids changed my spending habits. I was lucky to be on good salary in my mid-to-late 20s, but I've no idea what I spent it all on. I'm much more conservative now about what I spend, probably because I have so many work and family commitments.

Do you invest in shares? No, I got badly stung on Bank of Ireland shares a number of years ago. It was my own fault for listening to other people's "you can't lose" advice and not going on my own instinct.

I learnt a lot from that, and I now will only invest in something that I have an interest in and that I understand. My business has been my main investment over the past four years; everything I make gets put back into the business.

Cash or card? I don't have a personal credit card, but I use my Visa Debit for everyday purchases.

What was the last thing you bought and was it good value for money? A weekend away recently in Monart with my husband, and it was worth every penny.

Have you ever successfully saved up for a relatively big purchase? Apart from my house and my car, I saved up for a big holiday to the west coast of America before we had kids. My husband thought I was mad wanting to put so much money into a holiday, but I don't regret it at all. Once you have kids, it's hard to do trips like that.

Have you ever lost money? The aforementioned shares – don't mention the war!

Are you a gambler and if so have you ever had a big win? I'm not a gambler in the traditional sense, but I suppose in terms of business I am a risk-taker. I'm an entrepreneur through and through.

Is money important to you? Yes, but only for the freedom that it offers and how it can lead you to other things. Business-wise, I have very ambitious plans for the iZest brand internationally, which will allow me to launch more businesses in the coming years.

How much money do you have on you now? My trusty Visa Debit. I rely a lot on that little card!

In conversation with Tony Clayton-Lea