Me & My Money: Vincent McCarthy of Invesco

Are you a saver or a spender? I am a spender, but my biggest expenditure is on travel, so I like to consider this an investment in memories! However, I do also save for the important things, like retirement.

Do you shop around for better value? Most of the time, as there is no sense overpaying for something without a good reason. That said, value is subjective.

What has been your most extravagant purchase and how much did it cost? I lived in the US for five years and, when I was leaving San Diego, I did Las Vegas in style with a couple of friends. Rather than say how much it cost, I'll simply say it was worth every penny!

What purchase have you made that you consider the best value for money? For me, money spent on travel experiences always provides the best value. A particular highlight was paying to train for an advanced scuba diving certification in Fiji last Christmas. On one of our deep dives, the dive-master brought down the equivalent of an Irish green rubbish bin full of fish carcasses and within minutes the area was swarming with many different species of shark. Our only protection was an eight-foot metal pole, so it was an exhilarating experience!

How do you prefer to shop – online or local? I am not a big shopper but I would say mostly local. For food, I definitely prefer to buy local and Irish. For clothes, I try to get in and out of the shop as quickly as possible. I just ask one of the staff for help with what I am looking for, try a few things on and make a quick decision on whether or not to buy.

Do you haggle over prices? Yes, mostly abroad when I know I am getting ripped off. Has the recession changed your spending habits? Not a huge amount, to be honest. Thankfully, I never saddled myself with debt and I am not yet at the stage of my life where I have too many other responsibilities.

Do you invest in shares? Yes. Most recently it has been via funds due to a limited amount of free time to dedicate to individual company analysis.

Cash or card? Mostly debit card, but it's always good to have some cash on you. I've been caught a few times with no cash where card is not accepted. It is a reminder that cash is always king.

What was the last thing you bought and was it good value for money? Personal life insurance, but I am hoping it doesn't pay off.

Have you ever successfully saved up for a relatively big purchase? In 2011, I took a career break to spend 10 months travelling. It required a lot of saving and sacrifice, but it was such an amazing experience that the hard work was worthwhile. There is a quote I really like: "A ship in harbour is safe, but that is not what ships are built for."

Have you ever lost money? Why, did you find some? On a serious note, I have been lucky enough in my life, so far, not to have really lost big.

Are you a gambler and if so have you ever had a big win? I think life is a series of gambles, and so far I'm up. In the betting sense, I bet small on football. My biggest win was €400 from a €5 bet on four draws. Overall, I am probably down from betting with my heart on Liverpool FC.

Is money important to you? Yes it is, but while money is the means, financial freedom is the goal.

How much money do you have on you now? None. I should probably follow my earlier advice and start carrying some.

In conversation with Tony Clayton-Lea