Me & My Money: Peigin Crowley

Peigin Crowley is the founder of the spa brand Ground Wellbeing.

Are you a saver or a spender?

I am a spender and I always will be! That said, I have become much more conscious in my spending in recent years; I look at it through the sustainability lens and buy investment clothing pieces that last. My guilty pleasure, and one of my favourite hobbies, is buying secondhand furniture to repair and upcycle.

Do you shop around for better value?

‘If we could live in a world without money, I’d prefer it’

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If shopping online, I would always compare pricing, free shipping and seek out promo codes. I love to get value for money.

What has been your most extravagant purchase and how much did it cost?

When we were buying our home 20 years ago, on a whim I decided to buy a beautiful painting by Megan Eustace for approximately €2,000. This was before we had a couch, table and chairs, a television. It was utter madness. We laugh about it now, I still adore looking at it and we have since added to our little collection of art.

What purchase have you made that you consider the best value for money?

Our home – it is always a risk buying off the plans, as it is not until the house is built that you can appreciate its aspect, views, privacy and so on. During the more difficult recession years, it felt like the mortgage took all the oxygen but it was worth it to have had our own comfy space, a safe nest, especially during lockdown. We know how fortunate we are.

How did you prefer to shop during the Covid-19 restrictions – online or local?

It would be a mix of local and online. I think our support for local has grown immensely during this time.

Do you haggle over prices?

Not really, unless I feel there is genuine wriggle room. Because I sell artisan products I make myself, I’m mindful of the work of producers and the costs of running a business so I am respectful of business pricing.

How has the Covid-19 crisis changed your spending habits?

For the first time I was forced to buy clothing online but I’m an awkward size and really need to try stuff on so this didn’t go well. I now relish being in a shop again with the luxury of time to try things on. I try and limit myself to one good piece of clothing a month.

Do you invest in shares?

No, but my husband is shrewd enough. He has a dabble in cryptocurrencies and every now and then he lucks out, but it is more of a hobby than anything else.

Cash or card?

Card all the way now. It is rare that I take cash out.

What was the last thing you bought and was it good value for money?

We recently went on a brilliant family holiday to Portugal. It was so lovely to be in the sun, eating and drinking, relaxing together – excellent value for money. We believe in buying experiences and gifting them to others, and if we have learned anything in the last few years, it is the value of spending time with loved ones, planning get-togethers and making memories.

Have you ever successfully saved up for a relatively big purchase?

No, I lack discipline in this respect. If I want something that I cannot afford, I normally take out credit and pay for it over a series of months.

Have you ever lost money?

When I was 20, I had my first job working as a holistic therapist on a cruise liner. I was working and saving hard at the time and was heartbroken to have €1,500 stolen from me by a “friend” from my cabin. It taught me to be careful of banking my money thereafter, but I was raw for a while from the betrayal.

Are you a gambler and if so, have you ever had a big win?

I’m not a gambler, so to speak, but when I set up my business during the first lockdown in May 2020, we invested €55,000 of our own money and a further €25,000 in loans from family. It was nerve-wracking, to say the least. Thankfully, it has absolutely paid off with it now being a thriving business.

Is money important to you?

Yes. I like to feel secure about it. I have a good relationship with money in so far as I love it, I always believe there is enough of it to go around and I’m grateful to receive it and enjoy passing it around. It doesn’t have a hold over me and I’ll always pay my debts. It’s a respectful relationship, I guess.

How much money do you have on you now?

I have about €25 in cash in my wallet.

In conversation with Tony Clayton-Lea