Noel Cunningham: I took a financial blow when I was drinking, my life was out of control

'As a result of my past, I am slow to even treat myself.' Noel Cunningham shares his spending habits with us

Noel Cunningham, Ambassador at Harvey’s Point Co. Donegal and author of Guide to Modern Irish Manners (O’Brien Press)

What is your relationship with money?

My relationship with money has changed for the better, but rather dramatically some years ago. I am a recovering alcoholic and during a very sad, negative period of my life I lost everything. My car, house, savings. This was a very big learning curve and has left a certain fear and anxiety behind, as once in recovery I would never want to be penniless again.

Are you a spender or a saver?

Now I am neither a spender nor a saver. I am a cautionary man who lives within my means and as a result of my past, I am slow to even treat myself! I suppose age as well brings out the caution, and most people of a certain vintage knowing a rainy day can arrive are even more cautious about ensuring some money is put away.

Do you find it hard to splurge?

Yes splurging out is a problem. It is a combination of what happened previously in my life but also a typical guilt thing. My aunt would not buy a coat after turning 70 in case she wouldn’t get the wear out of it but I am not quite that bad! I am gradually learning to love myself again and that in turn means the odd splurge without that Irish guilt.

What is the best money-related advice you were ever given?

‘You would give away and want yourself’ was what my Mum always said. And yes, generosity is one of my plus and negative points. Her advice was clear - you don’t need to be overly generous, you cannot buy friendship and you don’t buy popularity. All powerful messages to remember.

Do you follow a budget and what is your process?

I try not to let my bank balance dip below a certain amount. I budget only for holiday and I have a standing order to cover holidays. I love to travel. Although I work in the luxury of Harvey’s Point. I veer toward very basic accommodation and cheap flights outside of work. Budget all the way. I’d rather have three such trips annually than one in luxury that is certainly more expensive. Day to day, I want for very little. My car and petrol are the biggest outlay in Donegal so I control that by making sure my hybrid is more battery than fuel!

What's the most expensive thing you have ever bought?

Definitely Miu Miu shoes. I had a guilt complex for weeks but I had a voucher and as Lorraine Keane advised me - they will be the most economical pair of shoes you will ever buy as you will get such wear out of them! I also have a weakness for fancy suits and bow ties but I control my urges! People who know me know that I am hard to buy for so thankfully I get lots of vouchers!

What is the most important thing you have ever bought?

The house I bought and lost. It was a stunner but I have to let that go.

What age did you start your pension and did you know it was important at the time?

Not early enough and I let it lapse and there the story goes. Draw your own conclusions!

What is the biggest mistake you have ever made financially and what is the lesson you take from it?

My mistakes were made back when my life was out of control due to drinking. Apart from the mental and physical legacy, it was most certainly a terrible financial blow too. I was in no mental state to heed the wise Chinese man who had once told me – ‘you must respect money’.

Stay midweek at Harvey's Point in beautiful south Donegal and enjoy a guided walk with Noel every Wednesday morning around Lough Eske and Ardnamona Woods. Fwww.harveyspoint.com