Me & My Money

Are you a saver or a spender?
My nature is to be a frivolous and irresponsible spender, but working with older people in Active Retirement has hammered home just how important it is to have a dependable income in retirement. Now I have a private pension, but not enough is done to encourage workers to save for retirement.

Do you shop around for better value?
I like to think I do, but sometimes I'll find myself paying a premium for convenience.

Your most extravagant purchase?
I don't tend to stretch to extravagant. My car is second-hand, my suits are off-the-peg. I bought a roast beef sandwich in the Merrion Hotel the other day for €12. For a sandwich, that's extravagant.

Your best value-for-money purchase ?
I got my bike on the cycle-to-work scheme, so I saved almost half the cost and started saving money on transport and fuel. That's not to mention the health benefits.

Online or shop local?
I much prefer shopping local. That said, I play baseball for the Dublin City Hurricanes and baseball equipment is impossible to get in Ireland, so online shopping has its place.

Do you haggle over prices?
Haggling is fine if you know you're talking to the owner of the business, or at least someone who can make decisions. I sold menswear all through my college years and I lost count of the times customers would ask for discounts from the sales assistants. The customer isn't always right.

Has the recession changed your spending habits?
Yes. I think everyone is far more conscious of how far they can stretch their income. Working with people on a fixed income makes me more careful with my own.

Do you invest in shares?
My private pension is in shares, but I don't have any other involvement with the stock markets. I'd be afraid I'd tank a small country's economy or something.

Cash or card?
The debit card. It's exactly like cash, except you have even less control over how quickly you're spending it.

Have you ever successfully saved up for a relatively big purchase?
When I was a child, all I wanted was a Teenage Mutant Ninja Turtles van. My parents told me I could save for it, so I just bought something else I could afford at the time. I'm quite good at finding the next best alternative for the amount I have at the time. Saving is anathema to me.

Have you ever lost money?
I'm a fan of Saint Patrick's Athletic, so every time I've backed them this century has lost me money. I've never lost money on investments, though, and I didn't buy property during the boom years, so I consider myself lucky.

Is money important to you?
Money can't buy you happiness, but it can buy you things. Things are important to me. Money also can't buy you health, but I'd hate to be broke and sick in this country.

In conversation with Tony Clayton-Lea