Amber O’Grady has worked extensively in the racing industry with companies such as Tattersalls Ireland, the Irish Thoroughbred Breeders’ Association, Sandown Park and Fairyhouse Racecourse. She is manager of the ownership department at Horse Racing Ireland.
Are you a saver or a spender?
I’m 100 per cent a spender. I’d love to be a good saver, but it’s just not in my DNA. I’ve always gone for the ‘you only live once’ option.
What was the first job you received money for, and how much were you paid?
I rode out racehorses when I was probably about 11. I got £2.50 a horse. I didn’t last very long because they used to run away with me. I was safer mucking out with my two feet firmly on the ground.
Do you shop around for better value?
It all depends on the purchase, but if it’s only a few euro, I’ll go for convenience over value.
READ MORE
What has been your most extravagant purchase, and how much did it cost?
For myself, it was a share in an all-woman racing syndicate. It cost €6,500 for two years, and it is enormous fun. I don’t spend on fancy labels: my disposable income goes on experiences and creating memories.
What purchase have you made that you consider the best value for money?
Probably the all-woman racing syndicate. I have met the most wonderful women through the racing syndicate and had the most amazing experiences. We’ve been everywhere from Sligo to Leopardstown to Royal Ascot. I used to think I’d have to win the Lotto to have days out like that, but sharing the costs has made it possible.
Is there anything you regret spending money on?
Oh, yes ... I have a number of items in the wardrobe with the labels still on. Also, there is a trampoline sitting in the garden, hardly used. It is such an eyesore.
Do you haggle over prices?
Only on holiday. I get too embarrassed, otherwise. My grandmother used to always ask shopkeepers if they had a ‘discount for cash’, and my eldest son is a 14-year-old Del Boy. Perhaps it’s time I took a leaf out of their books.
Do you invest in shares and/or cryptocurrency?
No. I was an Anglo investor back in the day, so once bitten, twice shy.
[ Fiachna Ó Braonáin: ‘My income has always been somewhat of a rollercoaster ride’Opens in new window ]
Do you have a retirement or pension plan?
Luckily, I have a pension from work, otherwise I would be in serious trouble. That said, I think it’s fairly obvious I don’t see retirement happening any time soon.
What was the last thing you bought, and was it good value for money?
My most recent purchase for myself was a new coat for racing over Christmas. The cost per wear will be very little. For someone else, it was a compressor. I’m not sure when the Christmas list moved from Smyths Toys to Screwfix!
Have you ever successfully saved up for a relatively big purchase?
I took my kids on an adventure to New Zealand two years ago. It was over a year in the planning and saving, and they haven’t been further than Kerry since, but it was a trip of a lifetime, visiting family.
Have you ever lost money?
Yes, I have. I’ve made a few bad decisions over the years, but I learned from my mistakes. I think the biggest lesson I’ve learned over time is not to invest what you can’t afford. You win some, you lose some – but in my book, health is wealth, so you have to take the rough with the smooth.
Are you a gambler and, if so, have you ever had a big win?
Strangely, as someone who is into racing, I don’t gamble in the purist sense; I like to think of it as calculated risks. One of the racing syndicates I was in a few years ago had a very good horse. We sold her to the US for a lot of money. It paid for my racing passion for a couple of years.
What is your best habit when it comes to money? And your worst?
I’m not sure I have very good habits, but I don’t like owing money. I try to keep my borrowing to a minimum. My worst habit is saving, or a lack of.
How much money do you have on you now?
A £5 note, a €10 note, and a few coins for the supermarket trolley.
In conversation with Tony Clayton-Lea
