{"id":106374,"date":"2025-10-27T09:23:10","date_gmt":"2025-10-27T09:23:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/106374\/"},"modified":"2025-10-27T09:23:10","modified_gmt":"2025-10-27T09:23:10","slug":"in-the-2008-financial-crash-i-held-shares-in-the-company-i-was-working-for-at-the-time-i-lost-nearly-e30000%e2%80%b2-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/106374\/","title":{"rendered":"\u2018In the 2008 financial crash I held shares in the company I was working for at the time. I lost nearly \u20ac30,000\u2032 \u2013 The Irish Times"},"content":{"rendered":"

Emma Farrelly is a qualified financial adviser who works with clients on investment strategies, retirement planning, and sustainable finance. www.futurefinancialplanning.ie<\/a><\/p>\n

Are you a saver or a spender?<\/p>\n

I strongly believe in saving, and I think about it in terms of short, medium and long-term goals. But I also enjoy spending, especially on clothes and travel; they\u2019re my real treats and make the savings worthwhile. I am now saving for a trip to Thailand<\/a> for my 50th.<\/p>\n

What was the first job you ever received money for, and how much were you paid?<\/p>\n

My first job after college was in the late 1990s as a cabin crew member with Aer Lingus<\/a>, and I earned around \u20ac20,000. It was a glamorous job in many ways, though the salary didn\u2019t quite match the image. Let\u2019s just say the uniform felt more first-class than the payslip.<\/p>\n

Do you shop around for better value?<\/p>\n

Yes, always. I regularly compare deals on utilities like TV, broadband, phone services and health insurance. It takes a bit of time and is not very exciting, but it\u2019s so worth it for the savings. I think most people underestimate how much those small switches can add up over the years.<\/p>\n

What has been your most extravagant purchase ever, and how much did it cost?<\/p>\n

A few years ago, I bought a Range Rover. I really enjoyed it at the time, even though it wasn\u2019t the most practical choice. I think there\u2019s room for a splurge when you\u2019ve saved and worked hard, but that doesn\u2019t mean you can\u2019t later decide that what you really value is the savings and ease that come with something simpler. <\/p>\n

[\u00a0Our home energy retrofit caused \u2018untold stress and left us in a perilous financial position\u2019Opens in new window<\/a>\u00a0]<\/p>\n

What purchase have you made that you consider the best value for money?<\/p>\n

It\u2019s not really a purchase, more an annual membership fee. I joined my local tennis club four years ago, and it\u2019s the best money I\u2019ve ever spent on myself. I love it, I\u2019ve made great friends, and it\u2019s something that\u2019s just for me. In terms of return on investment, the fee is around \u20ac450 a year, but for that I get a couple of hundred hours on the court exercising, playing a sport I love, and a whole community off the court. It\u2019s worth every cent.<\/p>\n

Is there anything you regret spending money on?<\/p>\n

Nothing substantial. Like everyone, I make the odd small purchase I don\u2019t really need, but on bigger decisions, I try to be careful. I\u2019m only human. Most of my larger spending goes on my children and their future, which I see as money well spent.<\/p>\n

Do you haggle over prices?<\/p>\n

Not really. I\u2019m much more of a shop-around type than someone who asks outright for a discount. I\u2019ll compare offers and switch if it makes sense, but the idea of haggling at a counter or in a shop just isn\u2019t me. I\u2019d rather know I\u2019ve done my homework in advance and feel comfortable that I\u2019m getting good value.<\/p>\n

[\u00a0Contactless can be friend or foe when managing your financesOpens in new window<\/a>\u00a0]<\/p>\n

Do you invest in shares and\/or cryptocurrency?<\/p>\n

Yes, I invest in shares and pooled funds. I think it\u2019s important that at least some of your money is working harder than inflation. Cryptocurrency isn\u2019t for me, although I have heard of some positive stories over the years. <\/p>\n

Do you have a retirement or pension plan<\/a>?<\/p>\n

Absolutely. I\u2019ve had one since I was 26, and it\u2019s the best financial decision I\u2019ve ever made. Now, at 49, I feel I have good control over it and it doesn\u2019t cause me any worry. I\u2019m a big advocate of starting as early as possible. <\/p>\n

What was the last thing you bought, and was it good value for money?<\/p>\n

A pair of brown winter boots. I\u2019d had my eye on them for a while, so when I saw they were 20 per cent off, I decided to go for it. They\u2019re comfortable, practical, and will last me a few seasons, so yes, definitely good value for money.<\/p>\n

I\u2019m very determined when it comes to financial goals, so I don\u2019t borrow unless I absolutely have to, and I don\u2019t use a credit card. If I want something, I make sure I can afford it first<\/p>\n

Have you ever successfully saved up for a relatively big purchase?<\/p>\n

Yes, our children\u2019s education. My husband and I set up a savings account many years ago and have been adding to it ever since. With four children close in age, including twins, the costs have always tended to come at the same time, so having that pot put aside has been a big help along the way. For me, supporting their education feels like the biggest and best purchase we could make. And, of course, saving for the deposit on my first house was an enormous milestone at the time.<\/p>\n

Have you ever lost money?<\/p>\n

Yes, in the 2008 financial crash. I held shares in the company I was working for at the time, which was part of a banking arm, and I lost nearly \u20ac30,000. It was tough to take, but I wasn\u2019t alone; many colleagues lost money, some far more than I did. <\/p>\n

Are you a gambler, and if so, have you ever had a big win?<\/p>\n

I wouldn\u2019t even win an argument, never mind a bet. I\u2019ve never been drawn to gambling. I prefer to keep my money for things I can plan, do my homework on and enjoy, rather than leaving it to chance.<\/p>\n

[\u00a0\u2018I take the long view when it comes to value measured against time\u2019Opens in new window<\/a>\u00a0]<\/p>\n

What is your best habit when it comes to money? And your worst?<\/p>\n

My best is that I\u2019m very determined when it comes to financial goals, so I don\u2019t borrow unless I absolutely have to, and I don\u2019t use a credit card. If I want something, I make sure I can afford it first. My worst habit is probably being a bit too serious about it at times. I can find it hard to switch off from thinking about money, even when I should just relax.<\/p>\n

How much money do you have on you now?<\/p>\n

I\u2019m not really a cash person. I use cards for almost everything. Like the Queen, I don\u2019t carry cash, although now that I look, I\u2019ve got \u20ac24 on me.<\/p>\n

In conversation with Tony Clayton-Lea<\/p>\n","protected":false},"excerpt":{"rendered":"Emma Farrelly is a qualified financial adviser who works with clients on investment strategies, retirement planning, and sustainable…\n","protected":false},"author":2,"featured_media":106375,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[601,72,631,61,975,60,27998,1612,1667],"class_list":["post-106374","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-aer-lingus","tag-business","tag-for-you","tag-ie","tag-investment","tag-ireland","tag-me-my-money","tag-pension","tag-thailand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/106374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=106374"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/106374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/106375"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=106374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=106374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=106374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}