‘Something about having a physical connection to your money is invaluable’

Santis O’Garro is a money mentor, author and ambassador for Get Ireland Active, Sport Ireland’s digital database which provides information for families to find sports facilities, playgrounds and other amenities in their locality. getirelandactive.ie

Are you a saver or a spender?

In psychology, we learn that due to our early environments, we develop money personalities. I am a saver/spender, meaning I save well but occasionally slip up with splurges outside my budget.

Do you shop around for better value?

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I always shop around for better value. It used to be solely about saving money but now it’s more about making the money I have work best for me at every opportunity. It’s a no-brainer.

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

Honestly, I’ve had quite a few splurges. One significant one was a holiday back to the Caribbean that cost me over €10,000. Even though I’m from the Caribbean, I impulsively spent an excess of €5,000 in upgrades.

[ ‘Google says my net worth is €22.5m but I’m not quite sure which bank account that’s in’ ]

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

Getting my diploma in coaching was a valuable investment. It was something I wanted and I’ve recovered my money and gained more. Most of my investments in self-development have been worthwhile and 2024 will be significant for me in this area.

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

For clothes and hobbies, I primarily shop online but when it comes to food, I prefer local shopping. I’m the type who inspects vegetables carefully even if it means bringing my kids along. It’s worth it for me to know what I have at home.

Do you haggle over prices?

I always haggle over prices, no matter the situation. Even if establishments wouldn’t negotiate, I find a way. Most people aren’t as bold as I am, which works in my favour.

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

When Covid started, I had just finished a debt-free journey where I cleared €15,027 debt in one year. The lack of temptation due to restrictions positively impacted my spending habits.

Do you invest in shares?

Yes, I’ve begun my investment journey slowly. I prefer ETFs because they entail less risk than investing in one company.

Cash or card?

I’m a hybrid, but I’m 80 per cent cash oriented. Something about having a physical connection to your money is invaluable. While I understand the card argument, our excessive digital mindset has increased our spending habits.

[ ‘Anyone who says money isn’t important to them is telling a porky pie!’ ]

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

My seven-year-old son is currently obsessed with a brand. Although I typically don’t push brands on to my kids, I bought him a Nike tracksuit. I think it was money well spent, he’s very appreciative of it and has been very well behaved since.

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

I saved bonuses for the deposit on my first home. It was a proud moment to save for such a significant expense. It’s a memory I lean on as I save for our future milestones.

Have you ever lost money?

I frequently misplace money when things get busy, but I also find money unexpectedly quite often. My brain works differently and, although I am mindful, at times I forget.

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

I worked in a bookmaker for 17 years. Despite that, I’m not a gambler – honestly, a gambler never truly wins.

Is money important to you?

Money is significant to me. It’s the world’s currency and, with it, you can succeed. I have numerous goals that require money and I respect its value. It would be foolish to deny its importance, especially when most people come from either a privileged background or one of lack.

How much money do you have on you now?

I have €50 on me right now. I didn’t expect that question.

In conversation with Tony Clayton-Lea