ME & MY MONEY:David Hall, MD, Lifeline Ambulance Services
Are you a saver or a spender?I am a spender. I would like to be a saver, it's a good habit, but I have two young children so I am definitely in the spender category for now.
Do you shop around for better value?Yes, both in business and personally, especially since the recession kicked in. It is worth spending a bit of time finding the best price and value, notably on high-value or bought-often items.
What has been your most extravagant purchase ever and how much did it cost?My family home was without a doubt the most extravagant purchase of my personal life. It cost over €1 million, but this will be our home forever.
However, we may be paying the mortgage for most of that time!
What purchase have you made that you consider the best value for money?The first ambulance that I ever bought, second-hand imported from the UK, to start Lifeline back in 1998 for €11,000. I could only afford one ambulance but the business grew from there, and we now have 56 vehicles. More recently I sourced and bought a number of barely-used transplant jeeps from a repossession pool at a great price.
Have you ever crossed the Border to shop?No, I am the MD of a local business so I am aware of the pressures that small businesses are under. I buy local every time. It's important that we all work our way out of this recession together.
Do you haggle over prices?Absolutely. I did even before the recession began. More so in business than personal life, but if there is a deal to be done, then I will find it.
Has the recession changed your spending habits?Yes, it has made me very cautious and value-aware. I have cut down hugely on upgrading gadgets, entertaining and impulse buying.
Do you invest in shares?No. I am not an expert in the area so I'd rather invest my money in my business, which I am passionate about.
Cash or card?Both – primarily card, but it is good to have cash as a back-up. I clear my credit card bill every month – a good habit I adopted early on in life and it has held me in good stead.
What was the last thing you bought and was it good value for money?I bought eight new defibrillator heart machines for Lifeline about an hour ago. They were great value as they were an order that had been cancelled.
Have you ever successfully saved up for a relatively big purchase?I saved for my wedding back in 1997, it was a great day, a big party. I enjoy seeing my family and friends enjoying themselves.
Have you ever lost money?Yes. I lost a significant amount of money on two investments. It taught me two lessons about money that I will never forget – there is no easy way to earn a lot of money, and do not take risks unless you understand the market implicitly. You live and learn.
Is money important to you?Money is a currency to get you what you need, and to give some peace of mind, that is all it is. Health is number one to me; money is no good to you if you do not have your health.
How much money do you have on you now?€45.
lifeline.ie. In conversation with
Tony Clayton-Lea
