'Every time there was a lull in the bad news, sales rose'

ME MY MONEY:Louis Mulcahy, potter

Are you a saver or a spender?I save on a personal basis but spend on my hobby, which is pottery.

Do you shop around for better value?Always, but value does not equate to cheapest. I often buy dearer Irish-made products, because I know that on grounds of quality or character, these can be of much greater value than some bland imports. Also by buying Irish goods, I know that I am keeping Irish people at work.

What has been your most extravagant purchase ever and how much did it cost?Over the years I have bought several buildings for the Pottery and related enterprises, but my most extravagant personal purchase was my current car which is the "all knobs-on" version of the Volvo S80. Before that I had always bought fairly new second-hand cars, as we live right on a salt-laden seashore at the westernmost tip of the Dingle Peninsula, and a new car is not a good idea in that context.

What purchase have you made that you consider the best value for money?The very handsome premises in Green St, in Dingle, which is home to my wife's tapestry-weaving studio and shop.

Have you ever crossed the Border to shop?I don't think it would be worth it for foodstuff. Not even if I lived in Dublin. In 1967, I went up to Coalisland to buy my first pottery clay. For years we have been buying a lot of clays through Scarva Pottery supplies in Banbridge, Co Down. They are blended in Stoke-on-Trent to recipes that I have devised over the years.

Do you haggle over prices?Around personal buying, no, but for business purchases, yes, although maybe not enough.

Has the recession changed your spending habits?Yes, very much so. I have been living on my savings for the past five years. Everything else goes into keeping the business alive until people become less frightened and resume spending some of the money they are now saving. Last year was particularly bad, with the constant barrage of depressing economic news. Every time there was a lull in the bad news sales rose, and then with the next scare they fell again. The sooner the political situation stabilises the better for domestic sales.

Do you invest in shares?No. And I am so sorry for all those people who lost their savings and pensions in bluechip shares.

What was the last thing you bought and was it good value for money?Two tickets to my visit my daughter and her family in Denmark, from where I am answering your questions. Since Aer Lingus ceased their Copenhagen route, we always travel SAS.

Have you ever lost money?Lots on various enterprises – one example being a shop and restaurant we opened in Ballyferriter some years ago. It was very well-regarded but leaked money like a sieve.

Are you a gambler and if so have you ever had a big win?Maybe in business, yes, but not in a personal sense. My father gambled constantly in very small amounts. He could not afford any more because he had five children at fee-paying schools. He seldom won and that depressed him. As a consequence, I have had a life-long aversion to gambling.

Is money important to you?I am lucky in that I have a fulfilling, restrained lifestyle that doesn't require much money, other than that necessary to keep the Pottery going.

How much money do you have on you now?I have 420 Danish Kroner, which is the equivalent of €56, and some loose change.

In conversation with TONY CLAYTON-LEA