Loretta Dignam, the founder and chief executive of Menopause Hub, is the only Irish woman honoured in the first Forbes ‘50 over 50’ global list of trailblazing women.
Are you a saver or a spender?
From a very young age, my parents taught me the value of money, in particular the saying: don’t spend what you don’t have. Because of this, I always have money. I have worked since I was 13 and put myself through university. I once borrowed a fiver from my parents, but that’s it! I save enough so I can spend enough so I never have to worry about money.
What was the first job you received money for, and how much were you paid?
At 13 years of age, I worked in Yardley Cosmetics during the summer, assembling Christmas gift sets. I was paid £IR15 per week. I saved up to buy myself a red Raleigh Shopper bike and a pair of Levis. I thought I was super cool cycling around on my bike in my Levi’s with groceries in my basket!
Do you shop around for better value?
Rarely. I find it too time-consuming, and I have so many other things I would rather do. I shopped around for health insurance earlier this year, and I regret that as the additional admin wasn’t really worth the savings.
What has been your most extravagant purchase, and how much did it cost?
I am more about experiences than material goods. Last year, I travelled to Fiji, Australia (Melbourne, Sydney and Adelaide) and New Zealand (in a camper van) for five weeks, taking in Christmas and visiting my daughter, who was on a study-abroad programme. The travel alone cost me about €5,000, but it was worth it.
What purchase have you made that you consider the best value for money?
In 2006, I bought a pair of black leather ankle boots in Lidl for €15. They are the most comfortable footwear I own. I am still wearing them today, and they are in excellent condition. No fast fashion here!
Is there anything you regret spending money on?
I don’t live with regrets – such a waste of time. However, when I was clearing out the house of toys and games that my kids had when they were young, there was so much we had to throw away – they were not suitable for recycling to other kids – I couldn’t help thinking how much waste there was.
Do you haggle over prices?
It depends. For big-ticket items, yes. And definitely when I go abroad – if you don’t ask, you don’t get.
Do you invest in shares and/or cryptocurrency?
I have invested in shares over the years. I invested the deposit for our house in Eircom shares. I flipped them very quickly and made about 35 per cent profit. That was about £IR14,000, so not too shabby! That said, dare I say that I have never met anyone else who made money on the Eircom shares.
Do you have a retirement or pension plan?
Thankfully, I do. I liken menopause to pensions: we only get interested the closer we get! As soon as I left university I had my first defined benefit pension scheme with my first job at Mars/MasterFoods, but when they were discussing pensions, my eyes glazed over. I went on to work for some top companies that offered excellent pension schemes, so I am okay in that regard. However, I’m not planning to retire – ever. I don’t believe in it.
What was the last thing you bought and was it good value for money?
An Apple Watch, because my Fitbit died. If I was aware of all the functions on the watch and used them, it would probably be great value for money, but it’s handy for when I have mislaid my phone and can still answer calls. I bought it outside Ireland and saved a whopping €50.
Have you ever successfully saved up for a relatively big purchase?
For us, 2024-2025 is a time of various home renovations, so I have had to save for each one, rather than take a loan. I always like to have a project on the go, so that suits me very well.
Have you ever lost money?
Besides out of my pocket, nothing of significance. I have, however, lost many small bets on random facts that I got completely wrong.
Are you a gambler and, if so, have you ever had a big win?
I am not a gambler. I did win €15 on the Lotto once.
What is your best habit when it comes to money? And your worst?
Not being much of a shopper saves me spending frivolously. If I had more time, I would shop around for more bargains, but then I would also spend more, so I probably wouldn’t be any better off anyway!
How much money do you have on you now?
I keep about €20 in my car, plus some change in case I get caught without any debit cards or my phone battery dies. That means I can pay for parking, buy a coffee, donate to charity or buy someone on the street a coffee.
In conversation with Tony Clayton-Lea
