‘Banks get enough of our money; I don’t use my card unless I have to’

Eavanna Breen has worked as a beauty therapist since 1991. She specialises in diathermy, advanced skin care and laser treatment and founded the Eavanna Breen Beauty and Laser Clinic. She is a nominee in the Image Business of Beauty Awards for the Best Beauty Therapist category. eavannabreen.ie

Are you a saver or a spender?

I am good at saving, but I am not afraid to spend when I have something I want to invest in. I don’t spend for the sake of it. All of my purchases are considered.

Do you shop around for better value?

I am not good at this in my daily life but I always look for better value in business. When grocery shopping, I am a marketer’s dream in that I buy for convenience. When it comes to business, I take things more seriously.

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

When I was starting out in business, I bought a laser machine that cost €95,000. I could have purchased one that cost half that, but I wanted the best.

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

My Bottega Veneta handbag. I wear it all the time, and it still looks like new. Cost per wear, it was one of my best investments. I am not big into labels, but I like quality and investment pieces.

[ Me & My Money: ‘The financial crisis obliterated most of my shareholdings’ ]

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

I supported local businesses as much as I could. The local restaurants that we love were doing delivery boxes, so I became a big fan of those; it’s a shame that has stopped. I probably did less online shopping than normal, as there was nowhere to go and nothing to do.

Do you haggle over prices?

I haggle, especially in markets where it’s part of the culture and expected. Outside of such settings, I tend not to. Running a small business, I understand the importance of each transaction, so when purchasing from another small business, I focus on supporting them rather than seeking discounts. In fact, I often ask them what else I can buy to show my support.

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

My spending habits underwent a transformation during Covid-19. I reduced expenses on items like clothing and gadgets, opting for a minimalist approach. Meanwhile, I increased my spending on home fitness equipment and organic groceries to prioritise health and wellness while staying at home.

Do you invest in shares?

Not currently but my sister has encouraged me to try it. I plan on doing some training around this and doing my research, as it is something I want to start to do.

Cash or card?

Whenever possible, I use cash. It is so important for more people to use cash. If I spend €50 cash on laundry, and the launderette spends €50 cash to buy supplies in the grocery store, the €50 stays at that value. If I was paid by card, I give anything up to 3 per cent of that to the bank, as does the launderette and the grocery store; the bank gets more of that €50 each time and devalues it!

[ ‘My mom always had to ask my dad for money and I remember thinking I never wanted to have to rely on anyone else for money’ ]

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

The last thing I bought was my next four-week gym block. It’s an investment in my health, mental wellbeing, and even my business performance. Exercise is a powerhouse for overall wellness and is always good value for money in the long run.

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

For my 50th birthday, I took a trip to the Maldives. It cost a lot more than I would normally spend on a holiday but I wanted to do something special. To save for it, I used a Revolut vault and I really liked the ease of it.

Have you ever lost money?

Not any large amounts. We nearly lost money we had invested in a property in Spain a few years ago when the developer went bust. Thankfully, after many years of legal to and fro, we got our money back.

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

I am not a gambler at all. The most I will do is buy the odd lottery ticket, which I know is a pointless exercise, but I did win €1,000 on it once.

Is money important to you?

Only in the sense that I want to be financially secure. I have no interest in chasing millions or owing an enormous empire of wealth. I want my business to do well, to be able to employ a few people and provide me with a comfortable income. I am not driven by money; my drive comes from wanting a lifestyle I am happy with.

How much money do you have on you now?

I have about €300 cash on me, as I will do the grocery shop on my way home. The banks get enough of our money – I don’t want to use my card unless I have to.

In conversation with Tony Clayton-Lea