‘Money might not buy happiness but definitely provides a sense of security’

Andrea Gilligan is the presenter of Lunchtime Live 12-2pm, Newstalk (newstalk.com)

Are you a saver or a spender?

I’ve always been a spender, but I’ve become better over time. A few years ago, I started saving properly for a house deposit. Now, I try to put money aside each month for different things like holidays or improvements to the house. Plus, I like the idea of a rainy-day fund.

Do you shop around for better value?

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For big purchases, I would. Particularly for things around the house or getting work done. I’m not as disciplined when it comes to everyday shopping. For smaller/one-off purchases, I try to buy locally or from places I know. I think customer loyalty is important.

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

Buying my house two years ago was the most expensive purchase I have ever made, but I feel very lucky to have bought it when I did… even though I now have a lifetime of debt to look forward to!

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

Again, they’re house-related, but I did some work on the house last summer – I revamped the bathroom and sittingroom and it was game-changing. I saved up to do the work, but I feel it was really worth it.

[ ‘You can lose money and get it back again, but you’ll never get back time’ ]

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

Always local. I’m lucky to live near a number of shops, so there was always a supermarket within my 2km distance during Covid. I really only shopped online for the first time during the pandemic, but it’s always a last resort for me as I hate not being able to look at what I’m buying before purchasing.

Do you haggle over prices?

No. I’m absolutely useless at asking for a discount, and I wish I was better at it.

How did the Covid-19 crisis change your spending habits?

During Covid I was spending a lot less as there was no opportunity to spend money on going out and heading to restaurants, and so on. Now, I tend to buy better but less frequently. That’s one change to my habits that I’ve noticed over the past few years. Also, I use Revolut and Apple Pay a lot more.

Do you invest in shares?

No, I don’t. I do have a private pension, but I deal with that through a broker.

Cash or card?

Always card. I never have cash on me. I can’t remember the last time I even had to withdraw money from an ATM.

[ Pensions are boring but they are still the best way to earn money tax-free ]

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

My last purchase was a dress from Folkster for a wedding in May. I’ve since worn it to another wedding, so I’m definitely getting my value out of it.

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

The biggest purchases I’ve ever made were my house and previously different cars. I saved the deposit for my house, but I’ve obviously got a mortgage on it. Over the years I bought cars via a combination of savings and bank loans.

Have you ever lost money?

Thankfully not. Well, nothing worth talking about.

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

No, I’m not a gambler, and I very rarely even do the Lotto. I only ever gamble if I was at, say, the Galway Races or a race meeting somewhere else. Even then, it would be token bets just for the fun of it.

[ ‘I have always been good at making money but accruing wealth is not the goal’ ]

Is money important to you?

Money is important to me, yes. I know the phrase “money won’t buy you happiness” is true but it definitely provides a sense of security.

How much money do you have on you now?

I doubt there’s a €1 coin in my wallet, but I’ve access to my cards via Apple Pay on my phone, so I’m never stuck!

in conversation with Tony Clayton-Lea