Me & My Money

Are you a saver or a spender? Most definitely a spender. It just seems there are so many demands on my income that the scope to save is quite limited. Spending is so much more fun – and so much more rewarding if spent well. I do, however, focus all my savings towards my pension.

Do you shop around for better value? In my personal life, no, I take a very straightforward approach to purchasing and I do not deliberate on it. There are so many other things I like to do with my time than waste it by spending time shopping around. I rarely postpone a purchase to look for better value.

What has been your most extravagant purchase and how much did it cost? I travel to the UK to watch West Ham play about five or six times a year. This is probably my only real extravagance, as it is pure self-indulgence. Each trip sets me back more than I care to admit and also takes up precious weekend family time.

What purchase have you made that you consider best value for money? I bought my really good quality bespoke tailor-made black tie suit about 12 years ago. I end up going to quite a few black tie events each year and it hasn't required a replacement.

How do you prefer to shop – online or local? I much prefer to shop local, I always bump into to someone I know so it becomes a little social. Also, I prefer to see what I am buying and whom I am buying from.

Do you haggle over prices? Never. I trust the people or organisations I am buying from to give me a good deal. If I didn't trust them I wouldn't be buying from them.

Has the recession changed your spending habits? Not really. My wife, Jennifer, and I were never ones to spend crazily during the boom; the things we spent money on a number of years ago are still the things we spend money on now.

Do you invest in shares? Not directly and I have never had an interest in playing the stock market. However, my pension is invested in shares so indirectly I would have a reasonable level invested in them.

Cash or card? Mostly cash for any small purchases under €50, and after that I would use my debit card. I tend not to carry much cash on me.

What was the last thing you bought and was it good value for money? I just bought my wife and daughter flights to London for them to have a girl's weekend. It also keeps me in the good books at home, so great value for money.

Have you ever successfully saved up for a relatively big purchase? A few years ago we saved up for an extension to be built on our house. It completely wiped us out in terms of all available cash saved and money was borrowed to complete it. It has, though, immeasurably improved our home.

Have you ever lost money? The only time I have felt I lost money is the obscene amount we paid in stamp duty back in 2007 on a house purchase at the height of the market. On the upside, the house is in Glencullen, a location we both love, and probably the most amazing place in Ireland to raise a family.

Are you a gambler and if so have you ever had a big win? I am a terribly unsuccessful gambler. I used to bet small amounts on my phone app, but I stopped a short while ago as the only thing I would bet on was West Ham to win their football matches. Needless to say, I lost on more occasions than I ever won.

Is money important to you? Some of the things money can bring are important to me, such as a nice place to live, education for my children. Also, money can bring greater choices, which usually is a good thing. To me, though, time is the most important thing – next to these money is not really important at all.

How much money do you have on you now? I have a €10 note in my wallet.

In conversation with Tony Clayton-Lea