Me & My Money
Deirdre McGlone,proprietor of Harvey’s Point Hotel, Donegal
Are you a saver or a spender?
I like to save and love to spend. I found the government savings scheme a few years ago to be a great incentive to save and very worthwhile. Currently, I save our children’s allowance into a fund for their education. In relation to spending, I enjoy the odd splurge on “impulse buying” but within reason.
Do you shop around for better value?
Not usually. I am not a great shopper and I never seem to find the time to shop around. If I need it or want it, I get it.
What has been your most extravagant purchase and how much did it cost?
I bought a Mini Cooper for €28,000.
What purchase have you made that you consider the best value for money?
I bought a piece of antique furniture for €1,000 and subsequently had it valued at €3,000.
How do you prefer to shop – online or local?
I shop locally, but I am finding online shopping more of an attraction lately. For example, it was very useful for buying presents at Christmas. I certainly intend to shop online more frequently in the future.
Due to my proximity to the Border and travelling frequently through towns such as Enniskillen or Derry, I may shop there sometimes but I prefer to shop locally as much as possible. There is more awareness now of the importance of circulating money in the community in terms of supporting local businesses and creating jobs.
Do you haggle over prices?
No, I would be too embarrassed. When I was in Dubai on holiday, I couldn’t get the hang of it at all.
Has the recession changed your spending habits?
I am more cautious when spending but I still like to eat out, buy nice clothes and have a good holiday. I have not changed my car since 2002.
Do you invest in shares?
Cash or card?
I prefer to use a credit card as I don’t like to carry cash around. However, it can be all too easy to use and it can add up very quickly to a substantial sum.
What was the last thing you bought and was it good value for money?
I bought clothes for my kids and somehow it didn’t seem to be good value for money (and no, they weren’t designer clothes!)
Have you ever successfully saved up for a relatively big purchase?
When I was 21, I saved up to buy my first horse at a cost of about €4,000. It took me a year to do it, and there were some sacrifices along the way, but it was worth it.
Have you ever lost money?
Following the government savings scheme, my lump sum decreased in value somewhat.
How much money do you have on you now?
I have €50.
Are you a gambler and if so have you ever had a big win?
I don’t really know how to gamble, but I enjoy a wee flutter at the races.
Is money important to you?
I am not driven by money but I realise the importance of having enough to pay bills, enjoy a little bit of luxury from time to time, to save and invest in the future.
I see clearly that having too much money does not make people happy and, while I know it is a cliche, it’s true that your health is your wealth.