Me & My Money: Sam Smyth, owner, Urban Plant Life

Are you a saver or a spender?
I am a bit of both. I save now with a view to making a big purchase later on. However, I don't save for the sake of a small interest return. Having money in the bank doesn't make sense and I do think it is better to do something with it now. I'm also replacing an old balcony with a new one in our garden centre, so I'm spending a bit of money on that!

Do you shop around for better value?
I only shop around for big-ticket items such as a car or a van. I don't like shopping much, but I do like getting a bargain. Normally when I shop it is for a purpose and I know what I want.

What has been your most extravagant purchase ever and how much did it cost?
It was a Lexus 300 jeep bought in 2006 when I was making good money.

Since then I have bought two expensive pairs of red trousers and a trendy jacket to make myself feel better. There's nothing like a bit of retail therapy now and again!
What purchase have you made that you consider the best value for money?
It has to be the property in Cork Street, Dublin 8, where Urban Plant Life is situated. It's a lovely property in the centre of town on nearly an acre. It is very historic space with a large chimney dating back to the 18th century. I bought it when prices were low and I still think that it is a bargain.

What ways do you prefer to shop – online or local?
I prefer to shop local. As a retailer I feel that I should support other local Irish business out of principle. I liked Superquinn and now support SuperValu. However I can't resist Lidl's charms! I'm not a fan of online shopping, and only use the internet to book holidays.

Do you haggle over prices?
Generally, I don't haggle in Ireland except when I have to pay large amounts of money. I think most retailers are having such a hard time at the moment and it seems a bit mean to haggle. Some people do it all the time and many people try it in my garden centre. We already give some decent bargains, so I don't really enjoy it that much when people haggle!

Has the recession changed your spending habits?
Yes it has affected me because I don't have so much money now. I think the last time I went to the cinema was about five years ago. Like everyone else, I'm paying a lot more taxes since the recession started.
Do you invest in shares?
Not any more. The last time I did was in Bank Of Ireland shares, and although I was lucky not to lose too much money, it has put me off the idea of investing in shares for life. I occasionally go to the races, more for the social element, and I buy the Lotto when the prize is over €3 million.

Cash or card?
My credit card is for business and travel. I like receiving and paying cash – I know it's old-fashioned, but I like the feel of money. I feel a little insecure when I don't have cash in my pocket.

What was the last thing you bought and was it good value for money?
I recently bought a punch bag for my daughter, Sarah. She does karate and fencing. It will be good value because she loves it and it will last for years.

Have you ever successfully saved up for a big purchase?
I saved up for a new balcony in the garden centre that will replace the old one. We're going to have show gardens up there for customers to look at. Hopefully will be ready for the summer.

Have you ever lost money?
Thankfully, as a business person I never really lost money, but I don't make as much as I used to. Yes, I lose money out of my pocket all the time, but I don't know how much as I am careless!

Are you a gambler and if so have you ever had a big win?
Luckily, I am not a gambler. When I did gamble I always lost and don't remember winning, so it's not something I do any more.

Is money important to you?
As a businessman, I have to make money every year. Money in itself doesn't interest me very much, but I know that you need to make some money to survive in business. I have staff to pay and many mouths to feed.

How much money do you have on you now?
About €150 in notes and coins.