Ken Mulkerrins is group head of innovation and sustainability at concrete products group Kilsaran. He has almost 30 years’ experience in the design and development of construction products for the Irish and European markets, and is responsible for reducing emissions and overall impact of Kilsaran Group on the environment.
Are you a saver or a spender?
I’m both. Certain circumstances warrant spending to create a saving in the long term, for example installing a newer, [more] efficient boiler or cladding a house in external wall insulation to lower energy usage and cost. But I like to have a rainy-day fund to fall back on should unforeseen expenses arise.
Do you shop around for better value?
Absolutely, whether it is for one-off items or continued services. I review all my utility costs annually and look at what other suppliers are offering in terms of packages. When looking for value, I take into account the quality of the product or service. Having the cheapest option available is no good if you have to compromise on the quality or ethics surrounding the supply of the product or service.
What has been your most extravagant purchase ever and how much did it cost?
I have a keen interest in running and cycling, and I do like to buy quality gear and equipment. When buying my first road bike, I splashed out a little more to buy a bike that was slightly lighter and had better mechanics. I spent over €2,000 but I love the bike and still use it today.
What purchase have you made that you consider the best value for money?
In 2002, I went on a kayaking expedition to the Himalayas in Nepal. I decided to invest in good outdoor gear and bought camping equipment and – very expensive at the time – North Face jackets, which were something like €300 each. I still have those jackets today, though, and they are as good as new, with no rips or defects. Again, cheaper is not always better.
How did you prefer to shop during the Covid-19 restrictions – online or local?
I’d say mostly online, but I also made a conscious effort to purchase from local and small retailers. I think one good thing that came about from the pandemic was the way businesses reinvented how they operated. A lot of them gained a better online presence, and we found some really great local businesses that delivered, whether it be foodstuffs, books, clothing or garden items.
Do you haggle over prices?
It depends on the situation or purchase. If I’m out and about and pop into a small artisan coffee shop for a coffee and pastry, then no. However, if I’m making a significant investment with a large supplier, then yes, I would haggle to try and get a price that I see as fair.
Do you invest in shares?
I have a small portfolio that will hopefully mature and assist my children in their education and, when the time comes, contribute (with any luck) to the purchase and/or rent of their first homes.
Cash or card?
I never carry cash, although I really must try to as I’m sure smaller retailers, like coffee shops and so on, would prefer cash over card.
What was the last thing you bought and was it good value for money?
At the risk of being boring, the last thing I bought was two metric tonnes of topsoil. My wife is an avid gardener and we recently added four large raised beds in our garden for planting vegetables. The topsoil was from a local provider and, yes, I’d say it was great value.
Have you ever successfully saved up for a relatively big purchase?
In 2005, after a couple of years saving, we saved for the deposit on our first home. It was a large sum of money that involved us really curtailing our spending habits, but it was all worthwhile when we received the keys to the house.
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Have you ever lost money?
I’d have to say no. In terms of share prices, these obviously fluctuate from time to time, with the recession back in 2009 making an impact, but prices recovered in time.
Are you a gambler, and if so, have you ever had a big win?
I’d be hopeless at gambling. I’m very much a facts and figures man who loves good quality data. If I had to gamble on something, I’d thoroughly run through every bit of information I had on the topic or item and, if this made sense, then maybe I’d gamble.
Is money important to you?
I’d be lying if I said money isn’t important to me as I need it for a level of security for me and my family. That said, there are an awful lot of things money can’t buy and I think we all know what they are. In 2015, at the age of 38, I fell ill with end-stage heart failure and the only option of treatment was a heart transplant. Thankfully, I received my transplant in 2016 and my health has never been better. Life experiences like this focus the mind and give a person a clear and lucid outlook.
How much money do you have on you now?
As I say, I’m hopeless at carrying cash, so right now I just have my bank cards.
In conversation with Tony Clayton-Lea
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