`I regret spending money on cars. It always feels like a financial black hole'
Are you a saver or a spender?
I'm definitely a saver. I like the security of knowing I'm not spending more than I have, and I avoid debt wherever possible. Aside from my mortgage, that is, which I see as an investment rather than a liability. I budget carefully so I can enjoy life without financial stress.
What was the first job you received money for, and how much were you paid?
I started as a kitchen porter during the summer in the south of France when I was 15. I earned around 5,000 French francs per month, though the exact figure is a bit hazy now! It felt like a fortune at the time, and I was so proud of saving every cent to pay for my studies. That first job taught me discipline, work ethic and the value of hard-earned money, which are lessons I carry with me to this day.
Do you shop around for better value?
Always, but value doesn't necessarily mean the cheapest option. I believe in quality over cost-cutting, whether it's groceries, hotels or bigger purchases. I'll research my options to make sure I'm getting the best deal without compromising on what matters to me.
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What has been your most extravagant purchase, and how much did it cost?
I've bought property and cars but my most extravagant – and least necessary – purchase was a Burberry coat when I was working in London. I think I paid just under £2,000 for it, which was certainly a splurge at the time. Nearly 20 years later, however, I still have it, and it just about still fits. Was it a luxury or a long-term investment? I'll let myself believe the latter.
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What purchase have you made that you consider the best value for money?
Buying my first flat was by far the best investment I've made. It was in terrible condition but we transformed it into a beautiful home, helped by my experience of working in luxury hotels. When we sold it, we made a great return, proving that a little vision and effort go a long way.
Is there anything you regret spending money on?
Cars. Every single one I've owned has depreciated the moment I drove it away from the dealer's. No matter how much I convince myself it's a necessity, it always feels like a financial black hole.
Do you haggle over prices?
Not really. If something is beyond my budget, I won't buy it. I respect the value of a product or service and trust that good quality comes at a fair price. Working in hospitality, I know how tight margins are, so I'd rather pay properly than try to undercut a business.
Do you invest in shares and/or cryptocurrency?
I don't. I've never fully understood the stock market or cryptocurrency, and I prefer tangible investments such as property. I'm sure I could have made good returns if I had taken the time to learn, but when you come from a modest background, you don't like to take risks with your life savings.
Do you have a retirement or pension plan?
Yes, though it's complicated! I've worked in multiple countries, so my pension is scattered across different systems. I started taking it seriously about six years ago and now make sure to save as much as I can to secure a comfortable future for my partner and family.
What was the last thing you bought and was it good value for money?
My wedding ring. I won't claim it was a bargain, but it was without a doubt the best investment I've ever made.
Have you ever successfully saved up for a relatively big purchase?
Yes, my partner and I are currently saving to buy a house. It's a slow process, but we're disciplined about it while still making sure we enjoy life along the way. With property prices skyrocketing, wherever we buy, it will be a big financial decision, so we're keeping a close eye on our savings target.
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Rick O'Shea: 'My wife and I come from very working-class backgrounds, so we think savings are important'
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Have you ever lost money?
Plenty of times! Whether it's a €50 note disappearing from my pocket or a well-intentioned but ill-advised spend, I've learned that money can vanish faster than you expect. The key is to make sure the wins outweigh the losses in the long run.
Are you a gambler and, if so, have you ever had a big win?
Not at all. I once went to Las Vegas with friends and quickly realised gambling wasn't for me. Even when I won, I knew I was ultimately losing more than I was gaining. I work too hard for my money to risk it disappearing in a couple of hours.
What is your best habit when it comes to money? And your worst?
My best habit is planning. I track nearly every expense, monthly and yearly, so I know exactly what I can spend and where my money is going. My worst habit? Spending too much on food and drink. When I go out, I don't check the prices; I just want to enjoy the experience. If I can't afford it, I simply don't go.
How much money do you have on you now?
Absolutely none. I haven't carried cash in years. My phone is my wallet now – it's more convenient and a lot safer.
In conversation with Tony Clayton-Lea
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