‘I like to support buskers who add so much culture and beauty to our streets’

Geraldine Magnier is co-founder and director of customer analytics firm, Idiro Analytics. www.idiro.com. She was appointed chairwoman of the Small Firms Association in December and was the recent winner of Technology Ireland’s Person of the Year award.

Are you a saver or a spender?

If I didn’t exercise self-discipline, I would naturally fall into the category of a spender. I love experiencing life and what it has to offer so if I could, I would spend endlessly on learnings, experiences, travels and people. I also believe in spending my way out of stress, so I am okay with spending to gain extra time and feel less pressure, rather than just saving for the sake of it.

Do you shop around for better value?

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Maybe, when I was younger, I would have prided myself on getting a bargain by shopping around; but my time is far more valuable to me now. I am more inclined to put research into what I want, exactly, rather than following the bargain.

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

I purchased a painting by an established Irish artist many years ago that cost a few thousand euro. It was extravagant because I didn’t need it, but I simply fell in love with it.

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

Over 25 years ago, I bought a beautiful long special-occasion coat that has never lost its shape or quality. It was a big investment at the time and continues to be taken out. It is a classic, old-world glamour piece and I will have it for the rest of my life. That is true value.

We are cultivated to haggle with the people who may need our business more, like artists and craftspeople, but not so much with big business around services or products.

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

Even during the harshest lockdown times, I shopped in my local grocery stores, and I preferred it that way. However, since Covid, I gave up browsing for the sake of it so when I am in a store it is because I need the items. I am there to get exactly what I came for and then leave again. I tend to only go online to shop if I am sending a gift to someone abroad or looking for something that isn’t available on the ground.

Do you haggle over prices?

I don’t tend to haggle, but if I am purchasing a professional service, I will. It strikes me as odd that, generally, we are cultivated to haggle with the people who may need our business more, like artists and craftspeople, but not so much with big business around services or products.

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

Covid made me rethink my buying habits, especially when I saw the amount of packaging with online purchases. I generally don’t purchase ‘stuff’ any more, as I have all that I need, but at times I do get lured into shopping for my kids and giving in to their demands for junk! My spending on objects since Covid has lessened, also, and redirected to experiences such as a hotel break or a nice meal.

Do you invest in shares?

My husband and I invest a modest amount in some ETFs. We don’t pretend to think we can outperform the market over the long term and so ETFs are an ideal, comparatively low-risk option suited to our needs.

Cash or card?

Card mainly, but I always have some cash on me when visiting family or friends with little children. Also, I like to have cash on me for when out walking to support buskers who add so much culture and beauty to the ambience of our streets.

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

A beautifully refurbished lace and linen tablecloth made by a group of ladies from Northern Ireland. I cherish it for the possible secrets woven into it by the hands of different generations, long ago, and for all the craic and storytelling it would have absorbed in the past and will continue to do on my watch. If the tablecloth could talk!

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

With my husband, I successfully saved the deposit for our house.

Have you ever lost money?

Since I am neither a gambler nor even a spectator, I am glad to say I haven’t. I did consider investing in cryptocurrency around two years ago but ultimately felt there was way too much risk and a clear lack of value.

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

I am not a gambler and that’s no virtuous claim on my behalf. When I recall all the horse racing events I have gone to, at the end of the race meeting I generally realise that I forgot to put on a bet, simply because I got distracted admiring the glamour and hats or got caught up in the socialising aspect of it. When we brought our entire company to Las Vegas, even in the Bellagio, having practised my blackjack for months beforehand, I still didn’t use my chips – I gave them away.

Is money important to you?

Money is important to me, as having it ensures that life is less stressful. It also brings a sense of security that helps with wellbeing.

How much money do you have on you now?

The tooth fairy came to our house last night and my son tasked me with the job of minding his €2 in my back pocket. There you have it!

in conversation with Tony Clayton-Lea