Me & My Money: Macdara Ó Seireadáin, winner, Young Musician of the Year

Are you a saver or a spender? I try to save as much as I can. As a freelance musician you can have busy and quiet months, so it's really important to plan ahead to get through the lean patches.

Do you shop around for better value? Quite a lot, depending on what I'm buying. The internet is a great help when it comes to comparing price, and many places are willing to match the internet price, with the added benefit of good customer service. That for me is more important than price alone.

What has been your most extravagant purchase and how much did it cost? A bottle of Macallan 18- year-old whiskey for €135. Having just finished organising a small festival in Hanover, Germany, it was a spontaneous purchase by way of celebration. The concerts went very well and the whiskey was enjoyed in the company of great friends who had helped organise and who performed, so it proved to be a memorable purchase.

What purchase have you made that you consider the best value for money? Definitely my iPod. I bought it seven years ago, and it's still going strong. It holds an enormous amount of music and is very useful when travelling or learning music on the go. I never leave the house without it.

What way do you prefer to shop – online or local? Shopping online is useful when I'm trying to track down something rare or hard to find, but I tend to shop locally as much as possible as I like to support local businesses. For example, a good local butcher or vegetable shop is irreplaceable and their impact on the community is much greater than just convenience.

Do you haggle over prices? Only when I am at a market or when it is expected. I tend to be quite uncomfortable doing it, and am not at all good at it.

Has the recession changed your spending habits? Not particularly. I had just finished a BA in the Royal Irish Academy of Music when the recession started so, up to that point, I didn't have so much disposable income.

Do you invest in shares? I have thought about it a number of times but have never gotten around to it. I know very little about investments and, although it can be a great way to make money, it's possible to lose a lot in a flash, so I remain a bit apprehensive about it all.

Cash or card? Cash. Bank charges on debit cards tend to nullify the convenience for me, and using cash helps me be more aware of how much I am spending. I tend to make a lot of impulse buys and cash helps me rein that habit in a little.

What was the last thing you bought and was it good value for money? A yoga mat, yesterday for €14. I travel quite a lot and try to keep (relatively) fit and healthy, and yoga as well as running is a great way to do that.

Have you ever successfully saved up for a relatively big purchase? Yes, musical instruments are expensive, and selecting one is a time-consuming process involving trying many different clarinets to find one the suits you best.

I bought my current instruments in 2008 and am presently saving for a new set. Have you ever lost money? Luckily not, apart from the occasional misplaced €10 or €20.

Are you a gambler and, if so, have you ever had a big win? Not at all, apart from the odd Lottery ticket.

An old schoolmate of mine was involved in horse racing and would send on tips from time to time. Betting doesn’t really appeal to me, so that would be the only time I would gamble. Thankfully, he was almost always right!

Is money important to you? It is important in the sense that having money enables you to enjoy life and to do the things that make you happy. Once I have enough to be comfortable and indulge myself the odd time, it's enough for me.

How much money do you have on you now? €24.30. I ha ve just been out for lunch and need to do some shopping on the way home.

In conversation with Tony Clayton-Lea