Are you a saver or a spender? I was definitely a spender by nature and would have been guilty of making unnecessary purchases; but nowadays, like most people, I've probably become more of a saver and watch the pennies a lot closer.
Do you shop around for better value? Absolutely! I thoroughly research most of my purchases and look for the best deal possible in most purchases I make. This includes my TV service, broadband, utilities and healthcare. We are now firmly in the age of switchonomics.
What has been your most extravagant purchase and how much did it cost? Probably my home-cinema system a few years back. It was definitely an extravagant purchase. When I bought it the cost was about €2,500. Today you'll probably get the same system for less than €500.
What purchase have you made that you consider the best value for money? I invested a redundancy payment with Aviva a few years ago and to date it has more than doubled in value. As long as that keeps up I'll be very happy.
How do you prefer to shop: online or locally? I prefer to shop locally and physically see the goods that I buy, especially for larger and more expensive items such as clothing. I have shopped online for smaller items such as books and music, but I generally shop locally as I believe in supporting local business.
Has the recession changed your spending habits? I used to be an impulse buyer but now I try to watch what I spend and take a lot longer reaching a decision to buy. Do you invest in shares? Not really. I have had exposure to the usual "free" shares such as Vodafone but generally I stay away and leave that to the "experts". I believe in investing in more long-term vehicles such as a pension plan.
Cash or card? Mostly cash but I like to have the comfort of the card for impulse purchases.
What was the last thing you bought and was it good value for money? I bought a Bugatti overcoat for work a few months ago. I managed to haggle successfully and didn't pay the full price so, yes, to me it was good value. Even at full price it was probably still good value.
Have you ever successfully saved up for a big purchase? I bought my car in 2010 with a car loan. Subsequently, I managed to save up enough to pay off that loan a few years early.
Have you ever lost money? Unfortunately yes. Like a lot of people in the good old Celtic Tiger days, I became a property expert! You know the rest. . . Are you a gambler and, if so, have you ever had a big win? I took a gamble on setting up my own business, the Trusted Advisor Group, back in 2010. It was and still is the only business of its kind in the Irish financial services industry. We offer specialist business support services to financial advisory firms throughout Ireland. So far I'm winning.
Is money important to you? It's nice to have money but, for me, it's definitely not as important as it used to be. Having come through redundancy and setting up my own business, I've learned there are far greater areas of importance in life. Most people have had a tough time over the past few years. It is during these tough times that you come to realise your own true values and resilience.
How much money do you have on you now? Twenty-seven euro. And my credit card.
In conversation with Tony Clayton-Lea
