Sarah Slattery is a travel industry professional with more than 30 years of experience, and the founder of thetravelexpert.ie.
Are you a saver or a spender?
I am definitely a spender but, to be fair, I return about half of what I buy. I always seem to have some project on the go as well, so even when I manage to save a bit of money, I’ll spend it on the house or a holiday.
What was the first job you received money for, and how much were you paid?
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When I was still in school, I worked part-time at the checkout in Dunnes Stores. I can’t remember exactly how much I was paid. After I left school, I earned IR£50 a week working in John Cassidy Travel, putting stickers on brochures and running around the city collecting and delivering tickets.
Do you shop around for better value?
Sometimes. If it is a small item, I will usually search online first – I love a good promo code. When it comes to bigger purchases, I think you get what you pay for. I would much rather go with someone or something that comes highly recommended than just choose the cheapest option.
I don’t really do regrets. I know that sounds like a cliché, but I tend to learn from my mistakes and put things down to experience. That said, the car I have now was a silly purchase
What has been your most extravagant purchase, and how much did it cost?
Before I had kids, I changed my car all the time, but I would say my most extravagant purchase, something I definitely didn’t need, was a diamond necklace that cost €4,500. That said, it was a long time coming; it was 18 years since I had had a new piece of expensive jewellery, so I was fine with it.
What purchase have you made that you consider the best value for money?
I would have to say, our house. It’s a typical three-bedroom house, nothing extravagant at all, but I love the location and all the memories we have made there. It has been a great investment, both financially and for our family.
Is there anything you regret spending money on?
I don’t really do regrets. I know that sounds like a cliche, but I tend to learn from my mistakes and put things down to experience. That said, the car I have now was a silly purchase. I loved my previous VW Tiguan and pre-ordered the new model without trying it out first. When it arrived, I didn’t like it at all. It cost me €20k more, and if I could have had my old one back, I would have. I will never buy a car again without test-driving it first.
Do you haggle over prices?
Sometimes. I will always haggle in souks or markets on holidays, but I rarely do it in Ireland. If I am making a big purchase like a car or buying two of something, I might ask if there is a better price, but I wouldn’t really see that as haggling.
Do you invest in shares and/or cryptocurrency?
I invested in shares many years ago but we lost everything during the banking crisis, so it definitely made me more cautious. I have never really been tempted by cryptocurrency; I would rather put the money into a business.
Do you have a retirement or pension plan?
I set up a PRSA [a personal retirement savings account], but I stopped paying into it when I started my business because I had no spare money at the time. Now, though, I see my business as my pension, so I think that’s a pretty good retirement plan.
What was the last thing you bought, and was it good value for money?
The newest iPhone. I use my phone for absolutely everything and could not run my business without it, so even though it was expensive, I do think it is great value for money.
Have you ever successfully saved up for a relatively big purchase?
Yes, a few times. While I would describe myself as a spender, I can be disciplined when I’m saving towards something specific. I have saved for our house, our garden and a home office, and I’m currently saving to get our bathrooms done later this year.
Have you ever lost money?
Yes, on shares many years ago during the banking crisis. We bought all the “blue chips”, but they all became pretty much worthless.
Are you a gambler and, if so, have you ever had a big win?
My dad loved horse racing and used to bring me to the evening meetings in the Phoenix Park after school. He wasn’t a big gambler by any means but I grew up around it, so having the odd bet always seemed fairly normal. I have bet on a few horse races over the years, but never had a big win.
What is your best habit when it comes to money? And your worst?
My best is I always clear my credit card bill, cancel subscriptions I’m not using, and aim not to buy food that could end up being thrown out. My worst habit, definitely, is swiping up on Instagram and buying things I absolutely don’t need.
How much money do you have on you now?
I have $300 in my purse at the moment because I’m heading to a conference in the US and wanted to have some cash with me. Normally, though, I rarely carry cash; I just tap my phone for everything. Maybe if I had to hand over cash, I wouldn’t spend as much.
In conversation with Tony Clayton-Lea
