Jennifer Zamparelli on Saving, Spending, and Serendipitous Sauna Sessions

Jennifer Zamparelli, co-host of RTÉ’s Dancing With the Stars and the newest ambassador of Coolmine Therapeutic Community, offers a candid glimpse into her financial habits, extravagant purchases, and money management strategies. From avoiding fast fashion to accidentally buying paddle boards, Zamparelli’s insights provide valuable lessons on mindful spending and long-term financial health.

Saver or Spender? A Conscious Shift

Zamparelli identifies as a saver, a habit solidified during the COVID-19 pandemic. “I would say I’m a saver. I really don’t like to shop, probably because I’m not good at it and don’t have the patience for it. Covid made it easier for me.What that year did was it made me a conscious shopper so now I have to absolutely love what I want before I buy it, especially clothes. Taking a lasting approach with my wardrobe was the best thing I did with regards to money.” This shift towards conscious consumerism aligns with broader trends of consumers prioritizing ethical and sustainable choices. According to a 2023 report by McKinsey, consumers are increasingly willing to pay a premium for sustainable products, indicating a growing awareness of the environmental and social impact of their purchases.

Early Earnings and Unexpected Lessons

Zamparelli’s early experiences with money were a mix of familial duties and entrepreneurial spirit. “I would like to say babysitting my sister’s kids, but I don’t think she paid me! My dad used to teach swimming at Baldoyle swimming pool and I remember taking the money for the lessons. I was far too young to do it; I think he threw me a tenner for about four hours of work.” These early experiences,while perhaps unconventional,instilled a sense of duty and the value of hard work.

The Art of Value: From Doc Martens to ‘Special Offers’

When it comes to finding value, Zamparelli admits to now shopping around, influenced by her partner. “I do now. My other half is good at this but his mother does it to the point of false economy! She buys things just because it says ‘special offer’, but she doesn’t need another garden hose and a wet suit anytime soon!” While Zamparelli avoids extreme bargain hunting, she appreciates the lasting value of certain purchases. “Nothing is better value than a pair of Doc Marten boots! They have multiple lives and looks, and as my first pair of eight-hole oxblood boots I bought on Mary Street when I was 14, they seem to always have a place in my wardrobe.” The longevity and versatility of classic items like Doc Martens underscore the importance of investing in quality over quantity.

Extravagance and Regret: The Sauna and the Paddle Board

Zamparelli’s most extravagant purchase was a home sauna, a shared dream realized. “We bought a sauna around five years ago. It’s always been a dream of ours to have one so we went for it. It cost around €10,000 and honestly it’s the best purchase ever. We use it at least once a week and love the time we get to spend in there chatting with no phones, no kids, just talking about our day. My neighbours probably think we’re mad,though. We live in a terraced housing estate very central in Dublin, so I’m pretty sure they’ve seen us trotting down to the sauna in our robes of an evening, thinking that these two have serious notions!”

However, not all purchases are as well-considered: “I got a bit drunk after having lunch with my mother one afternoon and walked into the Grate Outdoors shop and bought a paddle board! We have used it a few times, but I really didn’t need to buy one.” This anecdote serves as a cautionary tale about impulse purchases and the potential for regret.

Haggling, Investments, and Retirement planning

While Zamparelli avoids haggling (“No, never. My husband does and I just run away with embarrassment. He has no shame when it comes to this and will do it anywhere, anytime with anyone. The weird thing is that it always works with him, so I suppose it’s worth asking.”), she recognizes the importance of financial planning. She hesitates on Cryptocurrency and Shares, “I don’t know enough about cryptocurrencies, to be honest. I’m dying to learn about stocks and shares, though. My cousin has given me numerous pointers and sent me videos, but I think I have some sort of numerical dyslexia. I can’t grasp it so I play it safe.”

She also emphasizes the importance of retirement planning,especially for the self-employed. “I’ve been self-employed my whole life so a plan was crucial. I wish they taught you about these things in school – we would all have been better off if there was a class in money management. It can be a minefield, but I’m lucky to have five older siblings who gave me sound advice.” According to a 2022 study by the Central Bank of Ireland, only 45% of self-employed individuals have a private pension, highlighting the need for greater awareness and education around retirement planning for this demographic.

Lessons Learned: From Bristol Flats to Cruise Ship Wins

Zamparelli’s financial journey includes both milestones and setbacks. Buying her first property at 27 (“At the age of 27,I bought my first property. It was a garden flat in clifton, Bristol. I felt so grown up! I remember the evening I got the keys, I sat in the livingroom with no furniture, by myself, thinking that I have no idea what to do if something goes wrong with this place!”) was a significant achievement, while having her bag stolen (“I had my bag stolen years ago. I’d just taken cash out for a holiday and went to a pub with my friend and unfortunately my bag,my passport and a load of cash were stolen.”) served as a harsh reminder of the importance of security.

A win at a roulette table (“In 2006, I was on a cruise with my sister and I won $1,000 at a roulette table. We were on a carnival cruise, and you got a card to tap all your expenses, which means you have no real idea of what you’re spending and so the bill climbs quickly. I put money on 27 red and kept winning! My very sensible older sister made me stop gambling when she knew we could clear our bill! if she hadn’t been there, I would have lost it all.”) highlights the role of responsible decision-making, even in moments of luck.

Best and Worst Habits: Sustainability and Subscriptions

Zamparelli identifies avoiding fast fashion as her best financial habit. “My best habit is probably not buying into fast fashion. It slips through the net on a rare occasion, but I really try not to. I rent clothes a lot and, if I do buy, they are good quality items that will last.” This aligns with a growing movement towards slow fashion and conscious consumerism.

Her worst habit is “attention to detail, like not paying attention to subscriptions and bills,” a common pitfall that can lead to unneeded expenses.

Final thoughts: Pocket Money and Priorities

Zamparelli’s current financial reality involves managing household expenses and even lending pocket money to her son. “I have six euro that I took from my son. He wanted two packs of Match Attax, which cost seven euro, but he only had six from his pocket money. I paid for them by card, took his pocket money, and now he owes me a euro.” This anecdote underscores the everyday financial decisions that shape our lives.

Jennifer Zamparelli’s candid reflections offer valuable insights into the complexities of money management. From conscious spending to long-term planning, her experiences provide practical lessons for navigating the financial landscape. Take a moment to reflect on your own financial habits and consider ways to cultivate a more mindful and sustainable approach to your spending.

What is Jennifer Zamparelli’s biggest financial regret?

Jennifer Zamparelli on Saving, Spending, and Serendipitous Sauna Sessions

We sat down with Jennifer Zamparelli, co-host of RTÉ’s Dancing With the Stars and ambassador of Coolmine Therapeutic Community, too discuss her personal finance philosophy. From conscious spending to surprising impulse buys, jennifer shares her insights on navigating the world of money and making smart financial choices.

Saving vs. Spending: Which One Wins?

Eleanor Burke, Archyde Finance Editor: Jennifer, thanks for joining us.Let’s dive right in. Would you describe yourself as more of a saver or a spender?

Jennifer Zamparelli: Definitely a saver, especially lately. The pandemic really shifted my perspective. I’m much more conscious now. Before I buy anything, especially clothes, I need to absolutely love it. It’s about lasting value, not just fleeting trends. Looking at long-term financial health is really vital to me.

Early Lessons in Earning

Eleanor Burke: What was your first experience with earning money, and what did it teach you?

Jennifer: Hmm, probably unofficially babysitting my sister’s kids, even though I doubt I got paid! Actually, my dad used to teach swimming, and I’d take the money for the lessons. I was probably too young, but he’d throw me a few quid for helping. It instilled a sense of obligation, I suppose.

The Value Proposition: Doc Martens and Deals

Eleanor: How do you define “value” when making purchasing decisions?

Jennifer: I’m learning to shop around more thanks to my partner. I still avoid the extreme bargain hunting, but I appreciate things that stand the test of time. Nothing beats a pair of Doc martens! Thay last forever and always seem to be in style. Investing in quality over quantity is key.

Extravagance and Oops Moments

Eleanor: what would you consider your most extravagant purchase, and do you have any purchasing regrets?

Jennifer: We bought a sauna for the house about five years ago. It was a dream, and honestly, it’s been the best investment. It cost around €10,000, but the quality time we spend ther, away from phones and kids, is priceless. As for regrets… well, I once had a bit too much lunch with my mother and ended up buying a paddle board! We’ve used it once or twice, but it was definitely an impulse buy.

Investing and Planning for the Future

Eleanor: How do you approach long-term financial planning and investments?

Jennifer: I’m not one for haggling, makes me cringe and I just run away, but I know it’s important to plan ahead. I’m still a bit hesitant when it comes to cryptocurrencies, I don’t fully understand them.I’m keen to learn about stocks and shares. Retirement planning is also crucial, especially being self-employed my entire life. I wish money management was taught in schools!

Financial Lows and Highs

Eleanor: Can you share a financial high and a low moment from your past and what you learned from them?

Jennifer: Buying my first property in bristol at 27 was a huge high, I felt really grown up. A low point was having my bag stolen with cash and my passport! A painful reminder to be vigilant. Ironically, I won $1,000 at a roulette table once on a cruise. My sister made me stop when I was up enough to pay off the bill, if it wasn’t for her, I would have lost it all.

Best and Worst financial Habits

Eleanor: What would you say is your best and worst financial habit?

Jennifer: My best habit is definitely steering clear of fast fashion. I try to rent clothes and choose quality items that last. My worst? Not paying attention to the details,like subscriptions and bills. Those sneaky expenses can really add up!

A Final Thought: Readers, What’s Your Biggest financial Regret?

Eleanor: jennifer, any last words of wisdom for our readers?

Jennifer: Be mindful of your spending, plan for the future, and don’t buy a paddle board after a boozy lunch! Oh, and maybe teach your kids about money early. I’m currently owed a euro by my son!

Eleanor: Thanks Jennifer, this has been very enlightening.And to our readers, we want to hear from you! What’s your biggest financial regret, and what did you learn from it? Share your experiences in the comments below!