Eunice Power is chief executive of the Waterford Festival of Food, which this year takes place from Friday, April 25th, to Sunday, April 27th. She is also the founder/owner of AndChips, a “gourmet takeaway” that offers sustainable, seasonal food. waterfordfestivaloffood.com
Are you a saver or a spender?
I am a spender, but I’m a conscious spender. I like to regularly support people, shops and providers that I know will positively impact their business. I also like a bit of style, so I spend on clothes and funky jewellery, but I tend to go for key pieces that appeal to me or that I think will last.
What was the first job you received money for, and how much were you paid?
My first job was in Lawlor’s Hotel, in Dungarvan, Co Waterford. My pal Sinéad and I were both in sixth year and got a job for the Christmas holidays to see what this hospitality business was all about. We weren’t long finding out! I got paid the princely sum of £30 for two weeks of work.
Do you shop around for better value?
Yes, I do. I have certain things that I get a notion about, such as insurance, gas/electricity and telephone providers. Generally, though, after collective hours of being put on hold and listening to pre-recorded messages, I resign myself to coughing up and going with the original quote!
What has been your most extravagant purchase and how much did it cost?
I bought my current car in 2018; I think it was about €55,000. I spend a huge amount of time in my car on the road – I have clocked up over 250,000km so far. Bearing in mind my outings were clipped during Covid, I think I’ve seen a good return on my investment! I split my time between the Waterford Festival of Food office, my business AndChips and driving to the RTÉ studios in Cork for a cookery slot on the RTÉ Today show.
What purchase have you made that you consider the best value for money?
I bought the premises for AndChips in 2018, I felt it gave the business a better opportunity to survive when the cost of the premises was a known quantity from the beginning and not vulnerable to market rental increases as other businesses have seen over the past few years.
Is there anything you regret spending money on?
Yes. The evidence can be seen in the back of my wardrobe.
Do you haggle over prices?
I don’t really. I find in business that people are so pressed to cover their costs whilst charging a fair price that a contingency for negotiation isn’t built in. I don’t think that haggling is as part of modern-day culture as it might have been in the past. My dad used to negotiate prices with everyone: my mum tells a story about him striking a deal for three scarves in Harrods in London, en route from their honeymoon!
Do you invest in shares and/or cryptocurrency?
I don’t know enough about cryptocurrency to get involved but, from the outside, it looks a bit volatile. My share investment track record isn’t great – ESB and bank shares. Anything else I have has more to do with the company’s floating whilst I was an investor.
Do you have a retirement or pension plan?
I have a pension plan, but it requires me not to retire for quite a while! Yes, I was late to the pension party.
What was the last thing you bought and was it good value for money?
I just bought a silicone cake tin from my local hardware shop. It was €24, twice the price of a spring form tin, but I consider it good value as it won’t bend out of shape and doesn’t need to be lined each time I use it.
Have you ever successfully saved up for a relatively big purchase?
Yes, when I was a trainee in Switzerland, I saved for a whole year and bought a gorgeous watch. Or did the company I was working for have a savings plan and I blew my entire savings on a watch? I forget the sequence of events, but I still have the watch.
Have you ever lost money?
Yes, of course, I have. Most notably when a friend asked if they could borrow money to invest in a business venture. It was to be returned in three months, but that was 10 years ago!
Are you a gambler and, if so, have you ever had a big win?
If I were at the races, I might put an “each way” bet of €5 or €10, but that’s the height of it. I don’t have any online accounts, and I wouldn’t consider myself a lucky gambler – quite the opposite, in fact.
What is your best habit when it comes to money? And your worst?
Best? I’m probably overly–generous. Worst? I’m not a saver, but then I’m not a borrower, either.
How much money do you have on you now?
I have €20 in my wallet.
In conversation with Tony Clayton-Lea
