Me and my money: Padraic O Cuinn
Presenter eager to avoid slippery slope of renting now that house prices have taken a tumble
Published 22/07/2010 | 05:00
TG4 PRESENTER Padraic O Cuinn is finding that, even with the economic downturn, there are drawbacks to not owning your own home.
"Rent is my biggest spending mistake as I have yet to buy a property, but on the upside, I finally know what I want -- and property is cheaper," he said.
"My best-ever buy has been skiing lessons.
"I would never have figured it out on my own. I still need more though.
"My savings plan is my company.
"I hope it will be worth a lot of money some day. And I also try and lodge into a savings account, where I am getting 4pc interest in one of the bad banks.
"My credit card and general banking fees are my biggest ongoing waste of money. Much as I try to avoid them, I still get caught out.
"If I could buy anything, regardless of price, I would fund a worldwide environmental education programme, as I believe pollution is humanity's biggest challenge right now, along with population growth.
"I drive a diesel 05 BMW 5 Series Touring, as I wanted the extra space for my bike, kayak and wetsuit. I really like it. It cost me €15,000.
"I have yet to buy shares, but I am open to the idea. Shares in food and technology companies would be my first choice.
"If I won €5m in the Lotto, my first purchase would be to buy an open group ticket to travel the world with friends. I would start in Patagonia, a sort of 'Motorcycle Diaries' trip, but maybe on a bicycle instead.
"Right now, I would choose having more money over time off, but put it to good use.
"Cycling gave me a lot freedom to find myself and I really enjoyed that time."
- Padraic O Cuinn is a presenter of the Tour de France on TG4.