Адмирал яхт-клуба Кёрк делится личными привычками в управлении финансами и инвестициями

Denis Byrne is admiral of the Royal Cork Yacht Club. Cork Week, which is hosted and organised biannually by the club, based in Crosshaven, takes place Monday-Friday, July 6th-10th. Are you a saver or a spender? I like to think that I am a saver, but I’m not sure that the facts would support that. I tend to avoid spending money on small stuff regularly but I have an equally costly tendency to spend larger sums on items occasionally. What was the first job you received money for, and how much were you paid? While I was in my midteens, I helped local farmers during the height of the summer harvesting season. Around the same time, I also had a job with a local mechanical contractor. I don’t remember how much I was paid but, curiously, none of the money ever survived the following Saturday night. Sometimes, it didn’t even survive past Friday night! Do you shop around for better value? Every time I receive an insurance renewal, I resolve to call the other insurance companies for better value. The reality is that I never get around to it and so I typically end up trying to negotiate a better deal with my existing insurance suppliers. READ MORE What has been your most extravagant purchase, and how much did it cost? I suppose my sailing habit is an ongoing extravagance but a bad day sailing is better than a good day at work. What purchase have you made that you consider the best value for money? I purchased a yacht around 12 years ago which I have used a lot and largely enjoyed since then. It was a fairly old boat but I had enough experience to understand what I was committing to. In other words, purchasing a yacht is the easy bit; minding and maintaining it is the bigger challenge. Is there anything you regret spending money on? Not really. I became reasonably conservative by my late twenties, so I don’t tend to buy significant items on a whim or invest compulsively. I’m sure I could think of several smallish things I have bought and never really used, though, if I thought about it long enough. [ Here’s what a 1990s summer can teach us about saving moneyOpens in new window ] Do you haggle over prices? Only when it comes to significant purchases, which I don’t do very frequently. Four-figure sums and upwards. Do you invest in shares and/or cryptocurrency? I have some shares in a small number of companies. A lot of the shares I own are in the company I am employed by. It has a tax-efficient share investment scheme for its employees. I don’t invest in cryptocurrency at all. I know some people who have done very well from it, but it seems a bit too flaky for my liking. Do you have a retirement or pension plan? I have two of them. One is with a previous employer with whom I worked for eight years and the other is with my current employer, with whom I have worked for 20 years and counting. When I initially joined, both plans were “defined benefit”, but each has since been converted to “defined contribution”. What was the last thing you bought, and was it good value for money? The last thing I bought was a component for my boat, which I wanted to install before the start of Cork Week. Items for boats are typically expensive, so I wouldn’t say that it was good value for money. Have you ever successfully saved up for a relatively big purchase? I don’t recall ever sacrificing something in order to afford a big, planned purchase. I have been fortunate to be well paid and consistently paid since I left college. Have you ever lost money? I lost some money on shares a few years ago. I sold some of the shares that I had in one company when the share value was at its lowest. I’m still kicking myself, but I console myself by knowing that nobody has a crystal ball. Are you a gambler and, if so, have you ever had a big win? I have no grá for any type of gambling, I just don’t get a buzz from it. I have never understood the fascination that some people have with gambling, especially the types where you have minimal or no control. What is your best habit when it comes to money? And your worst? The best is that I have never had a credit card, which has avoided the significant costs that can be associated with them. My worst habit is laziness. I still use the same bank account that I had when I was in college, and I have not created a more appropriate bank account for the money I have saved to earn interest. How much money do you have on you now? I have €295 in my wallet. I tend to use cash in favour of tapping my bank card, so I think I use cash more often than most people do in recent years. I’m still a bit old school when it comes to bank cards. I just think that every time my bank account details are shared, it can create an opportunity for some people to access my bank account. In conversation with Tony Clayton-Lea