‘I never got the money back even after contacting the bank’

Me & My Money: Julie McLoughlin, printmaker and co-founder, Jando Design

 

Are you a saver or a spender?
A bit of both. Being self-employed means that you’re always conscious of your finances and closely monitor your incomings and outgoings. I always like to have a rainy day fund for treats and the unexpected.

Do you shop around for better value?
I’m pretty savvy and always do my research online so I tend to be well informed and aware of the prices of items I need or want. Quality plays a huge role in my decision-making process and I firmly believe in the old saying “you get what you pay for”.

What has been your most extravagant purchase and how much did it cost?
Our home. We saved up our deposit and unfortunately we got involved in a bidding war and probably spent a little over the market value. Having said that, looking at the cost of similar properties in the area right now it was actually good value for money.

Some people look at property as an investment, we do not. Our home is our sanctuary, somewhere that we can relax and feel safe. We are very fortunate to own our own home and, from reading the papers, there is not a day that goes by where we are not reminded of that fact.

What purchase have you made that you consider the best value for money?
Our wedding in New York City. We got married in Central Park surrounded by our family and friends. It was the best week of our lives and we cherish every single memory from that trip. We’ve never had so much fun or laughed so much.

How do you prefer to shop – online or local?
Online is convenient especially when you run your own business and don’t have a lot of time. I source and purchase all of our business supplies from Irish companies online. For weekly food shopping, clothing, footwear and homeware, nothing beats a bricks and mortar shop. We live in Smithfield and love to support the local shops in our community. We are also only a 10-minute walk from Dublin city centre and buy Irish whenever possible.

Do you haggle over prices?
I never haggle with anyone over prices. When you run your own business, you become very aware of the costs involved with making your product and getting it to market as well as the multitude of overheads involved. I also think it’s a little disrespectful of someone’s product or service to haggle with them unless you have both agreed to swap or trade goods or services.

Has the recession changed your spending habits?
I genuinely had hoped that the recession would have changed everyone’s spending habits. But there is a part of me that doesn’t think it has. We came out the other side but many are still struggling to get back on their feet. We definitely don’t squander our money but we won’t deny ourselves anything we can afford.

Do you invest in shares?
No, I don’t have the time to keep an eye on the markets or to spend my time worrying about how the fund is performing or if I’m going to lose money. All our money goes back into our business. We don’t have any debt or loans and we plan on keeping it that way.

Cash or card?
Debit card. It’s much easier to keep an eye on my spending using my debit card because I can see it all on my banking app. I rarely use my credit card and when I do, I tend to pay it back within a few days.

What was the last thing you bought and was it good value for money?
A few weeks ago I treated myself to a new pair of Wolfhound sunglasses. I absolutely love them.

Have you ever successfully saved up for a relatively big purchase?
We bought our apartment almost three years ago and haven’t done a thing with it. We spent the last three years saving so we could renovate the apartment all at once rather than dragging it out over a period of time.

Have you ever lost money?
I went to an ATM in Budapest about 10 years ago and withdrew €200. The ATM gave me back my card and decided it didn’t want to give me my cash. I was devastated. I felt as if I’d been robbed. I never got the money back even after contacting the bank.

Are you a gambler and, if so, have you ever had a big win?
I do the lotto when I think of it. I also bet on the Grand National every year. I think the most I’ve won is €170.

Is money important to you?
It is, but it has limited importance. As long as we can pay our mortgage and our bills at the end of every month, I’m happy. I’m very fortunate that I get to run our business with my husband and we’re able to spend our time and our energy collaborating and working together to create work that we are incredibly proud of.

How much money do you have on you now?
I left €20 on the hall table last night but it has somehow disappeared this morning. I’ll have to have a word with my husband when I get back to the studio. Right now? Zero. Just my bank cards.

In conversation with Tony Clayton-Lea

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