‘I’m not into timing the market. It’s more about time in the market’

Justin Lawless is chief executive of Intact Software, a business software provider founded back in 1992 with a single purpose — to create straightforward, easy to use accounting software. It has expanded considerably since in size and geographically.

Are you a saver or a spender?

Financial security for my family is important to me, so yes, for peace of mind, I save money. The cushion of having funds set aside to cover life’s unexpected events is essential. It’s enough of an incentive to make saving a priority. However, I’m definitely guilty of the odd impulse purchase — I hold my hands up.

Do you shop around for better value?

I go deep: reviews, usage videos, unboxing, surveying of friends and seeking promo codes. For online purchases, I work out exchange rates if coming from outside Ireland, and I always try to figure out ways to ensure that I get free delivery, although I’ve been known to buy more than needed to actually get that free delivery.

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

Guitars — no competition. It’s not about their cost, it’s about the joy me and my boys get from playing them. As much as I’d hope they’ll accrue in value, I know it’s unlikely with all the use they get.

On Instagram I see the body of a Palestinian toddler, an ad for a wetsuit, Oprah talking

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Ten minutes with Jennifer Lopez: ‘How do I go where my heart is leading me without fear? I say tread forward’

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Irish Olympian Jack Woolley: ‘We’ve sat in saunas and not drank water for two days’

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

My marriage licence, bought at City Hall, New York, was $100, so I consider that to be the best value of all.

How did you prefer to shop during the Covid-19 restrictions — online or local?

I buy local when I have the choice, and especially from family-run businesses in Dundalk. Covid has really made me appreciate local, Irish small businesses even more.

Do you haggle over prices?

I love a good deal. As a systems person, I know that some business systems have inbuilt haggling mechanisms. Interestingly, most people don’t know about it. Have I said too much?

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

The biggest reduction in spending has been travel. I haven’t travelled with my family since before Covid began, but I’m hoping to change that shortly. My annual subscriptions have increased for content that I really appreciate, like podcasts and audiobooks.

Do you invest in shares?

I invest a small amount in shares and ETFs as part of a saving plan, but I’m not into timing the market. It’s more about time in the market, so I tend to take my time in making proactive adjustments. I’m hopeful that, over a period of 10-15 years, it will grow higher than inflation.

Cash or card?

Watch.

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

A suit. Following Covid-19, I had to “suit up” for re-entry into the real world. While Zoom facilitated the fashion of T-shirts, face-to-face meetings with distributed teams, customers and partners needed something more appropriate. It’s probably too soon to tell if it was good value or not, as I like to get a few years out of a suit.

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

Yes, I’ve saved up for a few of the key purchases in my life — car, holidays, engagement ring.

Have you ever lost money?

No, and I don’t ever intend to. I lost a pair of sunglasses about four years ago on the Underground in London and I still haven’t got over it. I like to take care of things, and I have tracking tiles on all my valuables, including my wallet.

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

I would rarely bet. My father was a bookie all his life and his favourite line was “the only person who makes money following a horse is the one following it with a shovel”. I have a real concern about what’s going on around gambling at the moment, with virtual numbers games and virtual racing, and I have no intention of starting.

Is money important to you?

While money is not a central driver for me, it’s important for family security and allowing me the freedom to experience what life has to offer. Undoubtedly, money makes life easier, even more so in uncertain times, but I know that it is only a small part of the equation. I like the simple things in life — family time, a cold beer on a Saturday night and the good health to appreciate both.

How much money do you have on you now?

€5.15 and a sterling 20p coin.

intactsoftware.com