‘Understanding your relationship with money is really important for your overall wellbeing’

Derval O’Rourke is an Olympian, health and wellbeing advocate, and Green Isle ambassador.

Are you a saver or a spender?

Can I say a bit of both? I don’t spend extravagantly, and I like to know I have savings for whatever life throws at me. I’ve nearly always worked for myself so with that comes a sense of needing to always have some money set aside just in case work slows down.

Do you shop around for better value?

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Always, I love to know I’m getting good value. I recently went on a trip to Florence and didn’t book the hotel until 12 hours before arrival just to get a good deal.

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

It depends on what you consider extravagant. For me, clothes or handbags are quite extravagant so my answer to this is that I have a Hayley Menzies cardigan that cost €500. I got it for my 40th birthday. Spending that amount of money on a cardigan feels very extravagant to me!

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

Without a doubt it is my Kindle. It has increased how much I read, and I absolutely love it. It’s super handy and it cost around €170. I subscribed for Kindle Unlimited, and I consider this to be really good value, too.

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

I did a lot of both. I bought food locally, especially from places that pivoted to takeaway or food delivery options. I bought loads of different items online, but I did try to buy from local shops – if I knew that an Irish clothes shop had an online option, I would make an effort to buy from them.

Do you haggle over prices?

Not really. I tend to find it awkward and also I’m a fairly mindful shopper so if I don’t think something is at a good price I’ll just go elsewhere.

How did the Covid-19 crisis change your spending habits, and was there something in particular that you either stopped buying or started buying as a result?

I never bought clothes online pre-Covid but now I do it all the time. I recently bought a pair of Nicki Hoyne Collection pink shoes online – they fit perfectly and are glorious, and I could never have imagined doing this before the pandemic. I buy most of my clothes online now and rarely in brick-and-mortar clothes shops, which is a bit of a shame because I love to wander around shopping!

Do you invest in shares?

No, but I bought some years ago that I lost money on, and I’ve been slow to do it since. That said, it’s something I’d like to spend time learning about and maybe do again in the future.

Cash or card?

Neither, as it’s nearly always my phone these days.

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

I recently bought a pottery painting session with my friend and all our kids in a place called Croi Pottery in west Cork. It was very good value for money and a lovely experience. I like spending money doing things like that.

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

I don’t like debt. I don’t have a credit card, so any sizeable purchase I try to save for or put money aside for. I did this recently for a family holiday to Lanzarote.

Have you ever lost money?

I bought a house in 2006 and sold it three years ago. I lost money on it, and that was a big life lesson for me.

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

I don’t really gamble. The last time that I can remember putting on a bet was for Cheltenham 2009, and if I correctly recall no horse I bet on won.

Is money important to you?

Feeling secure and being able to choose how I spend my time is extremely important to me, and I think money is a big influence on that. But money doesn’t drive my decisions. I’m fascinated by how money affects people, and one of the best books I’ve read recently is The Psychology of Money by Morgan Housel. I think understanding your relationship with money is really important for your overall wellbeing.

How much money do you have on you now?

€50 cash. And I have a €20 voucher for Smyths Toys that belongs to my seven-year-old daughter. If I spent that I’d be in big trouble!

In conversation with Tony Clayton-Lea