Me & My Money

Are you a saver or a spender?
A bit of both. I like to spend some of what I have saved. And it doesn't feel as bad when you are spending the interest you earn from your savings.

Do you shop around for better value?
Absolutely. And I do this on a regular basis whether it is home, car or health insurance. For too long, we were too complacent because we didn't have the time or thought the savings too small to justify moving provider. This is the not the case anymore. If you can get the same cover elsewhere and it's cheaper, why would you not move?

What has been your most extravagant purchase ever and how much did it cost?
I don't do extravagant, although I did buy a nice camera a couple of years back for €450. Still have to figure out how to use it.

What purchase have you made that you consider the best value for money?
IPad – I read a lot, and I have hundreds of books stored on it. I also use it for work, so it is just invaluable for me.

What ways do you prefer to shop – online or local?
It really depends on what I am looking for. If I can only get it online then obviously I shop online; otherwise I would buy locally, so my split is probably 90 per cent local and 10 per cent online.

Do you haggle over prices?
Yes, to the embarrassment of my wife and kids. If you don't ask, you won't receive is my motto.

Has the recession changed your spending habits?
Yes. And it had to for most people who saw their incomes drop, when it suddenly dawned on them that they were living beyond their means.

Do you invest in shares?
No. I am conservative when it comes to investing and my "financial fear factor" is quite high. I have come across so many people who lost vast amounts in recent years who had hoped their investment would increase in a short space of time. I am from the slow and steady school of investing.

Cash or card?
I only carry very small amounts of cash with me so it's the card all of the time.

What was the last thing you bought and was it good value for money?
Long-term car park in Dublin Airport for our summer holidays – booked online and it's great value. Last year we didn't do that, and it was terrible to arrive home from holidays and have a huge bill for parking.

Have you ever successfully saved up for a relatively big purchase?
Yes, myself and my wife Roseann always do. We have great parents who instilled into us at an early age the value of "if you can't buy it for cash, don't buy it at all". So anything that we need to do around the house or when we go on holidays, we always save well in advance.

Have you ever lost money?
Other than it falling out of my wallet, unbeknown to me, then no.

Are you a gambler and if so have you ever had a big win?
I am not a gambler at all. Although I did put €5 on Tom Lehmen to win the British Open golf championship in 1996. He was 33/1!

I Am Going To Be Debt Free by Liam Croke is published by Liberties Press, €12.99

In conversation with Tony Clayton-Lea