‘My husband talked me into lowering an early investment in Blackberry’

Are you a saver or a spender?

I'm absolutely a saver. I save everything that's important to me, even my siblings have commented on it over the years. I have personal items that were given to me that I have carefully kept for decades. For years, I put a percentage of my salary aside each month religiously and lived off an allowance that I thought was enough. It says something about my need to provide for the future, but now it's just an ingrained habit. Do you shop around for better value?

I shop for quality first and value second. When I see something that’s lovely quality, if it’s fairly priced then that is the benchmark for me. I expect to keep items for a long time, which steers me towards quality.

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

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Probably the most extravagant purchase in the last few years would have been my Rainbow Vacuum cleaner, which cost more than $2,500 (€2,199). I have never spent that amount of money on a vacuum cleaner before in my life, but it’s amazing. Again, it was just great quality and I’m sure I’ll have it for many years.

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

I love to cook, and I’ve taken cooking courses over the years and bought lots of cookbooks, but the best value for money is my collection of cast-iron cookware. I invested in an entire collection of pans and Dutch ovens and why anyone uses steel pans now is beyond me.

How do you prefer to shop – online or local?

I prefer to shop local if I can. I like the connection and sense of community that shopping locally brings and, perhaps because I'm an entrepreneur myself, I like to support other local businesses. Investing in the local town and the high street is important because we need to ensure it survives. I also shop online, though, and have done more so during Covid.  Do you haggle over prices?

I lived in Asia for many years and bargaining is part of the sales process in many countries. In the West it's not the case and so, no, I don't haggle over prices now. If it's great quality and it's something I like, then I will pay for it. Has Covid changed your spending habits?

Yes. I don’t invest in work clothes like I used to because I’m not meeting as many people. I’m also not out lunching and having coffee with clients and partners. I’ve saved thousands by staying home and working.

Do you invest in shares?

I've invested in shares for many years. I invest in my own ventures, too, and that's worked well because I understand all the challenges and opportunities. Cash or card?

I carry enough cash for incidental purchases like coffee and lunch but mostly I use my debit and credit cards. It's much easier to track expenditure since I don't need to keep receipts; and I don't have bulky purses to carry around, filled with cash and coins. What was the last thing you bought and was it good value for money?

The last thing I bought was an airline ticket to go to meet clients. For me expenditure on work is always good value, since I love what I do, building my business.

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

Yes, the most recent big purchase, pre-pandemic, was with a luxury holiday company, specialising in customised trips. Just before I booked it and, after many months of planning, the pandemic came and that was the end of the trip of a lifetime! As I get older I want fewer things and more experiences. With the pandemic, experiences are more difficult to come by. Hopefully, I’ll revisit that planned trip in a few years’ time.

Have you ever lost money?

Yes. I invested with a partner I had known for many years into a venture that would have done well, had the partner not spirited the funds out of the account. That was the end of the money and the venture. A hard lesson!

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

I’m not a gambler and I’m careful with money, but I almost had a big investment win some years ago. I was at an IT conference in Las Vegas and came across a Canadian company called RIM. I called my broker to ask him to invest £25,000 into the new company. My husband then convinced me it was too risky in a difficult market, so I cancelled the buy order and just invested £5,000. That company was Blackberry and, four years later, that investment would have been worth more than $7 million!

Is money important to you?

I think it's important to most people since it determines, or has a big influence on, lots of other choices in your life. I try to remember it's still just paper with numbers on it, but I'm not careless with money. How much money do you have on you now?

I’m working at home, with no plans to go out today, so only €45, which is probably typical.

In conversation with Tony Clayton-Lea