Annalise Murphy: ‘I need money to live, but I know it will never buy me happiness’

Olympic sailing medallist and road racing cyclist Annalise Murphy is champion for the Keep Being You campaign for World Hearing Day. For further details visit Hidden Hearing

Are you a saver or a spender?

I think a bit of both. I try my best to save but if I really need or want something, I don’t mind spending. I aim to spend on things that bring long-term value rather than instant gratification, though I’ll admit that I’m not immune to the occasional impulse buy.

Do you shop around for better value?

Definitely. Probably like most people, I love a deal and I try to buy what I need at the best price. That being said, I also think it’s important to try to support local independent businesses so I try to buy from them when I can.

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

My Rocket Appartamento espresso machine. I love coffee and after years of debating if I really needed one, I finally bought it along with a grinder. It seemed like a very extravagant purchase at the time, but I use it every day and don’t have so many coffees out now. It cost €1,500, but I have had four years of the best coffee and happier mornings.

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

Probably my racing bike. I bought it all in pieces, and I built it with the help of YouTube and a local bike shop. I still love it and I probably use it 200-plus times a year so its price per use is pretty good now!

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

I tried to shop locally during the Covid-19 restrictions.

Do you haggle over prices?

I am the world’s worst haggler, and if I got into a haggling match with someone I probably would end up paying more than the ticket price!

How has the Covid-19 crisis changed your spending habits?

I don’t believe it changed my spending habits. I have always loved cooking and would rarely go out for food. I do, however, spend quite a lot of money on groceries and good, fresh food.

[ My best value for money purchase? A good mattress ]

Do you invest in shares?

I don’t, but I am very interested in global financial markets as I like to know what is happening around the world. It’s something I would like to do in the future.

Cash or card?

Card. I would say I use Apple Pay on my phone 99 per cent of the time. If my phone crashed? I would be stuck!

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

I bought a new pair of trousers. They were on sale, and are really good quality so I considered them to be a good value for money. It’s hard to find trousers long enough when you are six foot tall!

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

Not yet, although hopefully in the future I will be lucky enough to buy a house of some kind! I spent nearly 15 years sailing full-time. I was always on a tight budget to pay for the travel, accommodation, entry fees and equipment, so I am hopeful those years will stand to me and that I will be able to save enough.

Have you ever lost money?

I don’t normally lose things but once while driving in Europe I was stopped at a checkpoint, the police claimed my van was not mine (although my picture was on the side of the van!) and ordered me to pay a cash fine of €240 or go to the police station to show proof it was my van. I was driving to make a flight, so I ended up scraping together the money, at least €40 of it in coins and putting it all in an envelope they had handed to me. Maybe I was in the wrong, but I had the feeling I had been fleeced.

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

I am not a gambler, but I do like risk-taking. I think after so many years involved in sport I know nothing is a given.

Is money important to you?

It isn’t very important. I realise you need money to be able to live in a way you want, but I know it will never buy me happiness. Health, family and friends are what really matter. I want to be financially secure in the future but not at the expense of my health and happiness. The things I love to do are generally outdoors and free. We have an amazing country to explore and the more time I have spent abroad, the more I realise how lucky we are in Ireland.

How much money do you have on you now?

I have a €5 note in my jacket pocket, and every month I put money into Revolut to use for day-to-day expenses – it helps me keep track of my spending.

In conversation with Tony Clayton-Lea

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