Belfast Telegraph

'My luxury's playing golf at Royal Portrush'

Every week, we ask a businessperson to tell us all about their personal finances. This week it is Hugh Black, president of Belfast Chamber of Trade & Commerce.

Q. Are you a plastic or are you a cash person?

A. Both. For day-to-day expenditure and nights out I always use cash. But, I use the card for bigger things like holidays, flights and larger purchases.

Q. How much money would you usually carry around with you?

A. I always take £100 out of the cash machine, which I find is easier for budgeting. When that runs out I take another £100 - that's my float, as such.

Q. Apart from a house or car, what's the most expensive thing you've ever bought?

A. A boat - I have had three rigid inflatables in my time and used to love spending weekends on them around the North Coast where I have a holiday home. I now spend free time playing golf at Royal Portrush and socialising - so that's my luxury.

Q. Do you see personal debt as inevitable or something best avoided?

A. Best avoided - but at times in the year you tend to have to put things on credit cards like flights and holidays and pay it off over a number of months.

Q. What are your best - and worst - spending habits?

A. Clothes are my worst - having worked in retail for so many years, I have a weakness for clothes. The weekly food shop is my best as I don't spend a fortune on that. I am regularly found in the reduced section.

Q. If you had a huge fortune, would you leave it to your children?

A. Yes, I would. I have two kids - Natasha (22) and Cameron (19). I would stagger the money so they didn't get it all at once and they would get it when they needed it.

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Belfast Telegraph