Stephen Brennan on Saving, Spending, and the Allure of a Good Purchase

Actor Stephen Brennan, currently appearing in Eureka Day at The Gate Theatre in Dublin through March 7th, recently shared his candid thoughts on personal finance, revealing a penchant for spending over saving.

A Self-Confessed Spender

When asked if he identifies as a saver or a spender, Brennan readily admits, “A saver? What’s that?” He describes saving as an “fine aspiration,” but acknowledges that life often intervenes to disrupt any such plans. He confessed to The Irish Times that he has “never really successfully saved for anything much.”

Early Earnings and a Leap to Acting

Brennan’s first paid employment was in an advertising agency, earning £5 a week, subject to social welfare contributions. He recalls this experience as a catalyst for pursuing his passion. “It’s hardly surprising that when my first acting job was offered, I jumped,” he stated.

Shopping Habits and Value

Brennan admits to being drawn to items based on attraction rather than value, often opting for the more expensive choice. He playfully acknowledges his disregard for the advice to “look after the pennies, the pounds will take care of themselves,” finding it increasingly tough to save on everyday expenses like groceries.

Extravagant Purchases and Lasting Value

When prompted about his most extravagant purchase, Brennan points to his house, acknowledging it required “overreaching” to acquire. Still, he frames this as an “expression of faith in the future.” He also fondly remembers a 3 Series BMW purchased from his brother-in-law for £1,000, which he maintained until it reached classic car status.

Regrets and Lottery Tickets

Brennan does have one regret when it comes to spending: lottery tickets. He recalls a friend, Eamon Morrissey, noting the savings accumulated by avoiding them altogether.

Prioritizing Bills and a Grandson’s Joy

Despite his confessed spending habits, Brennan emphasizes the importance of financial responsibility. He identifies prioritizing bill payments as his “best habit with money.” His most recent purchase, a Caterpillar Rocker for his grandson, Jem, brings him great joy, and he considers it good value for money.

A Bit of Luck and a Lesson Learned

Brennan recounts a memorable, albeit cautionary, experience with gambling at Ascot, losing £400 on a horse race. He also shared a story of a fortuitous £5 each-way bet on a horse named Creon, winning him a payout at 50/1 during a production of The Burial at Thebes.

Financial Wisdom

Brennan’s best habit when it comes to money is prioritizing bills, while his worst is failing to anticipate hidden costs. He acknowledges not having a retirement or pension plan and recommends others prioritize such planning. He also expressed a desire to carry a small amount of cash to assist those less fortunate.