'I have a good instinct for knowing if I am being duped'

ME AND MY MONEY:Paul Costelloe, Designer.

Are you a saver or a spender?Spender. Money seems to disappear from my wallet. No idea where it goes.

Do you shop around for better value?Only when it comes to things like flights. When the price for a return flight to Dublin hits £300, I try my best to look for better value. For everything else, if I know that the quality is really good, price becomes irrelevant.

What has been your most extravagant purchase ever and how much did it cost?Seven children. Still counting the receipts.

What purchase have you made that you consider the best value for money?My home in Dublin, a large Regency house near Blackrock. I bought it for a small sum in the 1980s, and even after the crash in the property market its value is still surprisingly healthy. I'm not considering selling it anytime soon.

Have you ever crossed the Border to shop?Crossing the border to purchase is quite understandable, but I wonder how many people impulse buy and then never use what they've bought. Whenever I am travelling from Ireland to London, I always pick up a few packs of Clonakilty sausages along with some black and white pudding. They are the best and the pieces of rubber that they call sausages in England do not even closely compare.

Do you haggle over prices?Only when I can get away with it. I have a good instinct for knowing if I am being duped, so I will always haggle or just walk away if they won't budge.

Has the recession changed your spending habits?I was hoping that it would, but nothing seems to have radically changed. We do seem to keep a better eye on the household bills, although I seem to throw away a lot of money on parking tickets.

Do you invest in shares?I used to before half the companies I had shares in went bust during the recession. Some were shares passed down from my father so I got a bit of a return from them. Fyffes was an interesting one, while Vodafone has made me a small bit of money.

What was the last thing you bought and was it good value for money?I bought a ticket for six of us to travel the length of Italy from Milan to Lecce on Train Italia. Great value and a great experience.

Have you ever successfully saved up for a relatively big purchase?No, I don't save. I like to be spontaneous with my purchases which drives my accountant mad.

Have you ever lost money?All the time, but I usually come across old notes in my jacket and trouser pockets. They seem to survive the washing machine quite well.

Is money important to you?I wish it wasn't, but with a large family, it is impossible not to keep track of the finances. School fees, piano lessons, singing lessons, art lessons, holidays, food . . . the list is endless.

How much money do you have on you now? €65 and a £5 note.

paulcostelloejewellery.com

In conversaton with Tony Clayton-Lea.