Your Money

Me and My Money: Voyager IP managing director Mark Elliott

‘I think everybody loses money but once you find more than you lose life is good’

Mark Elliott: “I can get as much of a buzz from doing a two-bob deal as a 10k one.”

Tony Clayton-Lea's face
Tony Clayton-Lea
Tue Dec 19 2017 - 07:00

Are you a saver or a spender?

In the past, I would have considered myself as quite an accomplished saver. Thankfully, my wife, four kids, two large dogs and a cat cured me of that affliction.

Do you shop around for better value?

I always will look around for better value, but draw the line where value for money impinges too much on the quality of the item or service to be purchased.

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

Extravagance is not my thing – but I like planes, so I took a business-class flight aboard an A380 to Florida that cost €4,500 for the six-hour flight.

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

My tool kit. I can pretty much do anything around the house and fix small things with the cars, which helps take my mind away from work.

How do you prefer to shop – online or local?

Old school – local. Even though my background is in ICT and my company is in maritime satellite communications, I am still suspicious of the quality of some offerings available in the online marketplace. Plus, I like to support local business wherever possible.

Do you haggle over prices?

I always like to haggle. Unfortunately, I am now banned from several fast-food franchises as a result. However, from a buyer and seller perspective nowadays, I think this is a dying art form, which is a shame.

Has the recession changed your spending habits?

No, my spending habits have remained the same – very family-focused, as you can see from the first question! I didn’t get too caught up in the boom, so when the bust came, it wasn’t as big a crash landing in terms of income as it had been for others, for which I am very thankful.

Do you invest in shares?

No, for the same reason I didn’t invest in property during the boom. I simply didn’t know enough about the downside (there’s always one).

Cash or card?

That’s a difficult one. I would usually prefer cash, but I can’t seem to keep it in my wallet for long. That said, I do like the convenience of card.

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

I bought four pairs of jeans yesterday and got great value from the shop after a little haggling. I live in Wicklow and you have to love the small-town family-owned shops as they are the last bastions of the haggle.

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

The size of the purchase is relative to income. By the time I was 21, I promised myself, I would own a MK 2 Golf GTI. It was £3,500 (punts), and I was only earning £76 per week. But the day before my 21st birthday, I drove it off the garage forecourt.

Have you ever lost money?

I think everybody loses money – in business, in life, in the pub – but once you find more than you lose life is good.

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

In the traditional sense of the word, no. I wouldn’t be one for going into the local bookies or casino, but in work, yes, I would take calculated risks. And, yep, I have won big once or twice.

Is money important to you?

Of course it is. It pays the bills. But I don’t obsess about it. I can get as much of a buzz from doing a two-bob deal as a 10k one.

How much money do you have on you now?

Ten euro – and only because I applied the “finders keepers” rule in the house this morning.

In conversation with Tony Clayton-Lea