'The recession taught me to do my research' says Hughes Craft Distillery owner
Every week, we ask a businessperson to tell us all about their personal finances. Barbara Hughes, of Hughes Craft Distillery, Lisburn, admits she's mostly a spender, but believes debt is best avoided and likes to save too.
Q. Are you a plastic or cash person?
A. I mostly carry plastic, lots of debit cards, and especially my loyalty cards.
Q. How much money do you usually carry around with you?
A. I don't carry much cash, usually around £20 just for small purchases.
Q. Do you see personal debt (ie credit card, personal loans) as inevitable or best avoided.
A. I definitely think debt is best avoided and prefer debit cards to credit cards.
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Q. Apart from a house or car, what's the most expensive thing you've ever bought?
A. Because we work so hard, we believe a family holiday is very important and we usually go somewhere nice and splash out a bit. A trip to Florida or a nice luxury cruise would be my biggest purchase of the year.
Q. Are you a saver or a spender?
A. I'm mostly a spender but I do try and save a little.
Q. What are your best and worst spending habits?
A. My worst spending habit has to be falling for all the buy one get one free deals that I really don't need. My best spending habit would be shopping around to get best value.
Q. Did you get pocket money as a child? If so, what was the first sum you received in pocket money?
A. I never got pocket money from parents as a child. My great aunt Tilly used to give me £1 and it would buy crisps, sweeties and juice back then.
Q .Did you have a part time job as a youngster? And if so, what was it?
A. I started work when I was 13 in a newsagents in Belfast, then, at 16, I started telesales on the Boucher Road, promoting PVC windows and doors.
Q. If you had a huge fortune, would you leave it to your children?
A. If I had a fortune, I would leave it in a structured way to my children and only after enjoying the most of it in my later years.
Q. Where do you do your food shopping?
A. I like to shop in all the stores. There are certain things I like only available to one or other supermarket groups, so I shop in Tesco, M&S, Sainsbury's, and Asda.
Q. Did the recession teach you anything about personal finances that you are bringing with you into the recovery?
A. The recession taught me not to put all eggs in one basket, and to research any big spends or financial decisions more carefully.