‘As my children came off the payroll, so to speak, I’m naturally saving more’

Are you a saver or a spender?

I’ve never been a person who has felt money burn a hole in my pocket. However, I definitely used to be more of a spender than a saver. When you’re raising a family, that’s par for the course. As my children came off the payroll, so to speak, I’m naturally saving more.

Do you shop around for better value?

To a degree. If I habitually shop for something, then yes, I will do some checking around to see where I can find the best value. Of course, the best value doesn’t always mean the cheapest.

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What has been your most extravagant purchase and how much did it cost?

I made my most extravagant purchase at a time when I was living on quite a tight budget. I saw this beautiful pair of Church shoes on sale and lost my heart to them. Although they were on sale, they were still a much steeper price than I’d ever paid for shoes, but I made the leap and bought them. To this day, I still wear them and still receive compliments on them. So from a cost-per-wear perspective, they were a smart buy.

What purchase have you made that you consider the best value for money?

My Church shoes!

How did you prefer to shop during the Covid-19 restrictions — online or local?

I did very little online shopping before Covid-19 and the pandemic didn’t change that for me. That’s mainly because my regular shopping is grocery shopping and I prefer to do that at my local stores.

When I was younger, I really didn’t concern myself with money. It has become more important to me once I had to provide for my family and now, as I get older, for myself

—  Gerard Tannam

Do you haggle over prices?

No, I find it uncomfortable. I lived in Asia for 10 years and I developed some haggling skills. However, that was only to prevent stallholders from taking offence because haggling is part of the culture in many places there. It’s not something I enjoy and I don’t haggle now.

How did the Covid-19 crisis change your spending habits?

I like to think I paid attention to my health before the pandemic. That said, there is no doubt the last few years have really focused my mind on prioritising healthy food and supplements. My spending in these areas has gone up since Covid-19 came our way. Plus, I love to cook!

Do you invest in shares?

No.

Cash or card?

Mostly cards these days, like most people. However, I do like to keep some cash on me. Nothing big, maybe €10.

What was the last thing you bought and was it good value for money?

I was at an event recently and I bought a pint. A great evening and the pint topped it off. No question about the value for money in my mind.

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Have you ever successfully saved up for a relatively big purchase?

Yes. I didn’t have any particular big purchase in mind that I wanted to make, but I did get into a regular savings habit, which came in handy when I needed to put down a deposit for my new home.

Have you ever lost money?

I’ve never lost a substantial amount of money but I did have a near miss during the Celtic Tiger years with a property deal that was offered to me. For various reasons, at the last minute, I wasn’t able to go ahead with the investment. I often feel I received an enormous lesson from that experience without actually getting my fingers burnt. I was lucky.

Are you a gambler and, if so, have you ever had a big win?

No, I’m not a speculator.

Is money important to you?

When I was younger, I really didn’t concern myself with money. It has become more important to me once I had to provide for my family and now, as I get older, for myself.

How much money do you have on you now?

A tenner in my wallet.