‘You have to appreciate what you have to attract more wealth’

It’s a love/hate relationship! Money makes us feel secure but when we don’t have enough, it can make us insecure.

Do you find it hard to splurge?

Yes, I find it hard to justify a big purchase. I always look for the best deal. I hate being ripped off and I absolutely hate paying full price for anything. I enjoy spending money on a nice meal or a trip away as it’s an experience and I’m creating memories.

What is the best money-related advice you were ever given?

You can be rich but you are never going to truly feel rich until you shift your mindset around money. I think you really have to appreciate what you already have, in order to attract more wealth. I’ve known lots of people who were ‘rich’ but they were obsessed with not spending it, and ultimately I feel it made them miserable. There are no pockets in a coffin! That’s another one I heard recently. It’s very true. You can’t take it with you.

Do you follow a budget and what is your process?

Yes. I have a lovely Louis Vuitton Agenda – a leather cover for a diary – that I treated myself to last year. It was costly but now I only have to buy a refill for it every year- I write all my outgoings in it.

What’s the most expensive thing you have ever bought?

A gorgeous strand of pearls from Appleby Jewellers in Dublin, when I worked there many years ago.

What is the most important thing you have ever bought?

Probably my very first car. It was a red Volkswagen Polo, with no power steering, it cost me 7000 old Irish punts over twenty years ago, the insurance also cost me an arm and a leg, but it was worth it. It was a great step towards being independent as a young 21-year-old. I was also paying rent in Dublin at the same time, so sadly there wasn’t much left at the end of the month.

What age did you start your pension and did you know it was important at the time?

I started it when I worked in retail many years ago, the company had a great scheme where they matched your voluntary contribution so it was a great opportunity to put money aside.

What is the biggest mistake you have ever made financially and what is the lesson you take from it?

Losing my head when I cashed in my SSIA after five years of saving. I had always wanted a Mini Cooper and I used a big chunk of cash to put towards it along with my existing car as a trade-in. It cost me a fortune, the car was only two years old yet the power steering needed to be replaced, at a cost of €600. The servicing costs (mainly labour through BMW) were eye-wateringly expensive. 

The back box on the exhaust also needed replacing, it ran on run-flat tyres which are 2-3 times the price of regular tyres. It was a huge money pit. I loved that car but I also hated it because it cost me so much to run. A car is a depreciating asset so it’s like throwing money down the drain. Never again! I don’t believe in changing cars every year to keep up with the Joneses, it doesn’t interest me whatsoever.

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