‘My best investment was a house in Sligo . . . with a tree inside’

Are you a saver or a spender?
At the moment definitely both.We are at the end stages of an extension of our home so the last year has been quite expensive on the spending side. I do love to save, though. My current favourite way for treats is with the Revolut vault option. They are really easy to use and quick to access – the only issue is there is no interest added so they really only work for short-term saving.

Do you shop around for better value?
Absolutely, all the time, my dad has designed and built our extension and so I have been project managing with him and learned that we have to get prices for everything down to the price of nails. Because, while one is not expensive, the cumulative effect is significant.

What has been your most extravagant purchase and how much did it cost?
The most extravagant item I have ever bought for myself is a ring that cost me just under €1,000. My mum gave me some money after my granny passed away, and she always loved jewellery. I had wanted a ring like it for many years and, for me, it's a lovely way to remember her when I look at it.

What purchase have you made that you consider the best value for money?
My best investment was a tiny, one-bed townhouse in Sligo in need of massive renovations – there was a tree inside! We now use it as a short-term rental property. It is still covering the costs of the renovations, but it was a sound investment and is definitely worth more than it cost with a small future income. For us, this is to help our kids get on the property ladder when they are older, so it was a really good decision.

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How do you prefer to shop during the Covid-19 restrictions – online or local?
I prefer local. I find it hard not being able to see what I am buying, and it is always good to support the local economy. My husband is great at online shopping, so we have definitely had our fair share of items delivered over the last six months.

Do you haggle over prices?
Sometimes. My preference is when there is a price and you know that haggling isn't necessary. However, there are always some industries or situations where it is expected, like if you are buying a car or anything in the construction world. I can definitely haggle if I need to.

How has the Covid-19 crisis changed your spending habits?
At the start I stopped buying coffee, dinners out, takeaways, etc. I have definitely found that my weekly grocery bill has gone up in price, so there are definitely lots of hidden price hikes that are having an impact.

Do you invest in shares?
I used to work in Bank of Ireland, so it was part of our remuneration when I was there but that didn't work out too well in the end.

Cash or card?
Card whenever I can, and that was even before Covid-19. I almost never have any change in my purse, so that's a problem for me.

What was the last thing you bought and was it good value for money?
Recently, my sons had their birthdays, so I took them and some friends for the day to Clara Lara. It's great value for money because we got to be there for the full day, it's all outdoors and supervised so they got lots of time running around with their friends, and it felt really safe in the current climate – a perfect way to celebrate and excellent value for money.

Have you ever successfully saved up for a relatively big purchase?
Last year we managed to bring the boys to Florida. That definitely required saving and planning but we have the most amazing memories. One of the resorts we stayed in on the Florida Keys had iguanas running around, so the boys were in heaven as they adore all reptiles.

Have you ever lost money?
I have lost money on shares in the past. Also, we bought our house in 2007 and it has taken a long time for it to recover from the massive hit house prices took. At the time, that was the most challenging financial situation for us and definitely impacted our decisions financially for at least a decade.

Are you a gambler and if so have you ever had a big win?
I do the lottery occasionally and not too successfully, but you never know. I live in hope.

Is money important to you?
It's not so much that it's important on its own, but it does make life and decisions easier when you have it, and if you don't that causes worry and tension. It's more about what you can do with money than the money itself.

How much money do you have on you now?
I have about €40 in cash, which is a lot for me, as I normally don't have any. 

In conversation with Tony Clayton-Lea