Are you a saver or a spender?
I would consider myself to be a little bit of both. I am very conscious of saving and planning for the future, but at the same time I like to enjoy the here and now.
Do you shop around for better value?
When it comes to casual shopping, typically not. When it comes to professionally, absolutely yes. Irrespective of what it is I am shopping for, I always want the peace of mind that comes from knowing I have the best on offer in whatever area that may be.
What has been your most extravagant purchase and how much did it cost?
It would possibly be a car, which cost me in the region of €60,000-€65,000.
What purchase have you made that you consider the best value for money?
A number of years ago I bought a property, which I would consider to have been great value for money. The passing of time has proven this decision to be very accurate!
How do you prefer to shop – online or local?
I prefer to shop local. This way I can see what I am purchasing without the expectation, or waiting, from shopping for the same product online.
Do you haggle over prices?
Typically not. If I am happy with what I am purchasing, then I will buy it without haggling. Having said that, before a purchase I will always shop around to ensure what I am buying is of good value, cost effective and fits the purpose for what I am handing over money for.
Has the recession changed your spending habits?
I was always very careful and conscious of my spending, so not really, but spending is always something I consider and try to be clever about. In being careful and very aware of the cost and the potential spend, I do enjoy to spend, and I certainly enjoy the excitement of a new item no matter what that may be. I also feel spending can be somewhat healthy and puts people in a very positive state of mind, even if it is for that short period.
Do you invest in shares?
No. Outside of pension funding, I don't invest in share accounts. As a financial adviser, I have never invested in shares outside of the typical diversified pension contract, and I don't think my view on this will change much into the future. My philosophy is to protect and grow while maintaining peace of mind throughout the journey. I feel shares can have too many ups and downs, so if time is not dedicated to the overall structure I feel they may not be suitable.
Cash or card?
Card.
Have you ever successfully saved up for a relatively big purchase?
Yes, a deposit for my first house. It t was difficult but I achieved it through hard work. I believe saving no matter how small or large is very good structure and sound financial planning and it certainly instils the discipline one requires to have a safe and successful financial planning future in all areas of finances.
Have you ever lost money?
Yes, on a property through the recession years, and again at Cheltenham once a year!
Are you a gambler and if so have you ever had a big win?
Outside of betting on a horse at Cheltenham once a year, I would not be a gambler. I always try and rest on the side of caution and, if making a decision, I try to make it on the back of clear knowledge in order to limit the risk.
Is money important to you?
Yes, money drives everything and is therefore crucial.
How much money do you have on you now?
€175.
In conversation with Tony Clayton-Lea
