Your Money

‘I bought a piano when the family thought I’d popped out for bread and milk’

Me & My Money: Carmel Doyle, chief executive of Jack and Jill Children’s Foundation

Carmel Doyle chief executive of Jack and Jill Children’s Foundation: “It’s important to have enough money and to know when enough is enough.” Photograph: Colm Mahady/Fennells

Tony Clayton-Lea's face
Tony Clayton-Lea
Mon Dec 14 2020 - 05:30

Are you a saver or a spender?

I quickly switched from spender to saver mode mid-30s when our three children started to arrive. They are now teenagers and have added a whole new dimension to me and my money.

Do you shop around for better value?

Yes, but probably not enough, as I’m always rushing around. I do tend to bulk and repeat buy when I find something I like. When the teenagers need something they do their own shopping around.

READ MORE

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

A beautiful second-hand Steigerman piano I bought for €2,000 when the family thought I’d just popped out for bread and milk.

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

The piano. Nobody played at the time but the kids, especially my middle son, Tony, were keen to learn. Follow-up purchases included a guitar, an electric guitar, a ukulele, a saxophone and a clarinet. I can’t put a price on bringing music into our home.

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

Local all the way.

Do you haggle over prices?

Yes, when I’m buying at outdoor markets. Over the phone, I will ask straight out for a discount on the likes of home and car insurance. When it comes to household appliances, I will ask if there’s any chance of a discount or free delivery, perhaps – even if my husband cringes.

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

Working from home, I’ve stopped buying toasted wraps for lunch and saved on fuel by not travelling to Naas for work. I do the one big weekly shop in the supermarket and butchers, avoiding queues and social contacts. I miss having a weekly blow-dry but we’re just not going out much and I’ve stocked up on that hair colour fix for all those Zoom calls.

Do you invest in shares?

I did a long time ago but I’m cautious now. Last time I invested was in 2000 in an Irish manufacturing company, floated in the US. While the price rose initially, it then hit the floor in 2002 and I’m still sitting, not so pretty, on a loss.

Cash or card?

Card definitely. Tapping makes things easy.

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

Another school tracksuit yesterday for my daughter, as she’s allowed to wear her tracksuit rather than skirt/jumper uniform into school every day now and needed a second one. Because it’s cold and with all the windows open for ventilation, it is a great value purchase for comfort and warmth.

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

Yes. I saved for a new VW Passat in 2014, trading in a VW Touran and VW Golf, as we downsized from two cars to one.

Have you ever lost money?

Yes, on those shares. That said, having started my career in the equity research department of NCB Stockbrokers, I always knew the risk in investing in shares. But it hurts when it happens to you. The only upside is that, having lost money, it makes me a wiser investor.

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

Yes, kind of. My grandmother instilled in me a love of bingo, slot machines and scratch cards, always calling me her “lucky star”. I’ve had five numbers on the Lotto and would have won big had I chosen the number 12 instead of six. My biggest win so far was IR£1,000 in 1988 in a basketball club raffle. That paid for my 21st party, including bus, DJ and chicken and chips – and I still had change for a holiday in Majorca, too!

Is money important to you?

Professionally speaking, very. The fundraising drive for the Jack and Jill Children’s Foundation is relentless, particularly this year with so many events cancelled by Covid-19. Personally speaking, it’s important to have enough money and to know when enough is enough, but I still hope to win on the prize bonds.

How much money do you have on you now?

€5.53.

In conversation with Tony Clayton-Lea