‘It’s financially liberating to be my own boss’

JONATHAN HEALY is a well-known broadcaster who works with Newstalk, RTE’s Today show and Cork’s Red FM as presenter of Red-Business, Red FM’s podcast-only business show.

He has also been a senior correspondent with Sky News and is managing director of his own communications consultancy, Healy Communications.

What’s the most important lesson about money which your career in broadcasting has taught you? Financial advice is like political opinion — you can get many different kinds, but you have to pick the one that’s right for you.

What’s the best advice you ever got about money? My mother was fastidious about making us save from an early age. It began with a post office account, then with the TSB and then ultimately with the credit union. It taught me the value of money, and the importance of making sure it was there when you needed it.

What’s the most expensive thing about being a parent? Having children.

What’s the most expensive country you ever visited? Rome remains the outlier for expensive cities — I remember paying €4 for a bottle of Coke, and grumbling about it for the rest of the holiday.

What’s your favourite coin? I always had a soft spot for the old 10p piece with the leaping salmon. I read recently that the 1992 version is worth up to €10,000...

Apart from property, what’s the most expensive thing you have ever bought? My BMW car. The sad reality is that I still don’t own it!

What was your worst job? Before I moved into news and current affairs, I spent time as a DJ in bars and clubs. I was truly awful and never had any of the music that people wanted me to play.

What was your biggest financial mistake? Not selling our first property in 2007 before the crash, despite wanting to. I consoled myself that it meant some poor sod avoided negative equity, but it was cold comfort considering I would nearly be mortgage-free now if I had.

What was your best financial killing? Deciding not to be an employee any longer and setting up my own company. I found being my own boss strangely financially liberating.

Are you better off than your parents? In some ways, yes. My dad worked hard as one of the first managers for Penneys, while my mum stayed at home to mind six (expensive) boys. If money was tight, we never knew about it. However, all financial problems are relative — they never had as much debt as I do.

If you won the Lottery, what would you do with the money? Get a good financial advisor — as otherwise I’d blow it within a year.

Have you ever made an insurance claim? I don’t think so. Normally, when something goes wrong, I ring up the insurer, it tells me about the excess, and I end up paying for it myself.

iTunes or Spotify? Spotify. Although I have a large collection of unpopular music from the 1990s on CD.

What was the last thing you bought online? A Zoom recorder for podcasting.

Would you buy property now? If I was at that stage in my life again, I probably would. We’re conditioned to own a home in this country, unhealthy as that may be. However, my advice would be only to buy a home if you intend to be carried out of it in a coffin.

What three things would you not be able to do without if you were tightening your belt? Heineken, an iPhone and Barry’s Tea.