Me and My Money: Oonagh Clarke, MD of French Cosmetics

Are you a saver or a spender?

Bit of both. When I got my first well-paid job I was definitely a spender, and then I changed to being a saver for my house. Having my first business at the age of 20 taught me to put money aside, as there are always highs and lows in any business. Now? Definitely a saver.

Do you shop around for better value?

It’s good to shop around. For large purchases, I would do my research on the Internet, but would always try and buy in-store rather than online. I enjoy shopping!

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

A property in the south of France 10 years ago – it cost €130,000. After looking at many properties, this rundown apartment with hideous décor and holes in walls won out. Fortunately, I could see beyond the mess, and we have done a lot of work on it over the years.

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

The property in the south of France. It has given many friends and family a few sunny days, and I have had many happy escapes to it over the years. Luckily, it has appreciated in value, too.

How do you prefer to shop – online or local?

I always try to shop local. I appreciate all the hard work that goes into running a small business and like to give my support to the local community.

Do you haggle over prices?

I can haggle with the best as I come from a background in sales! In certain countries, it is considered rude not to haggle and, as I have visited many of these places, I learnt quickly to be tough. I still didn’t come away with many bargains, though.

Has the recession changed your spending habits?

I have a weakness for expensive bags and shoes, but during the recession I realised that there is only so much you can wear or carry. In the business, it was very much a case of cutting back on some of our marketing and PR.

Do you invest in shares?

I have never invested in the stock market. When I retire, I would like to dabble a bit as I find it fascinating.

Cash or card?

Both, really. I make sure I clear my card every month so as not to incur the ridiculous interest costs. And I would feel uneasy if I didn’t have some cash on me.

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

The last thing I bought was a comfortable pair of shoes. I consider them great value for money, as I can get to places faster. That’s important when I need to see a lot of customers in a day.

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

My husband and I saved successfully to buy this business. It would prove to be a very wise investment.

Have you ever lost money?

I went into business with a friend and lost a considerable amount of money. At the time, the economy was booming and it seemed like a very good idea. It thrived during its first year but then declined rapidly. It was an expensive lesson, but well learnt.

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

Obviously being in business is a gamble. Otherwise, I have a few bets on the major golf championships during the year, but it’s very hard to pick the winner!

Is money important to you?

Money is less important as you get older. I know it’s a cliché, but your health is your wealth.

How much money do you have on you now?

€110.

In conversation with Tony Clayton-Lea