Pay Day Q&A - Jim Cregan, Co-Founder of Jimmy's Iced Coffee

Pay Day Q&A - Jim Cregan, Co-Founder of Jimmy's Iced Coffee
Pay Day Q&A - Jim Cregan, Co-Founder of Jimmy's Iced CoffeePay Day Q&A - Jim Cregan, Co-Founder of Jimmy's Iced Coffee

The first of our new Q&A series, in which we ask business leaders and thinkers to share a few of their money insights with PayCaptain’s community.

My first pay packet… I was 16 and worked in a hotel as a kitchen porter. Although actually my first ‘pay day’ came before that, by buying fake surf backpacks and selling them to my friends at school!

A time when I was worried about money… Probably around year three of Jimmy’s Iced Coffee. We were in a lot of business debt, and we were genuinely worried about personal and business finances, which affected our entire family.

I’m glad I bought… I’m not just glad I bought a house – I’m stoked! We still have a mortgage to pay, but knowing that you haven’t got a landlord who could turf you out at any minute is a wonderful thing. When you shut that front door, you’re in a space just for you and your family. You can do whatever you want with it, and you don’t have to worry about putting it right for someone else when you move out – that’s my favourite thing.

Right now, I’m saving for… Nothing! I’m living for the day, as it were. I feel good about spending… On experiences for myself and my family. We’re going to go and spend a couple of days in Zurich pretty soon and hopefully go to Morocco early next year. So basically just spending money on time with people that you love.

A cause (or charity) I like to donate to… It’s a split between environmental causes – especially Surfers Against Sewage – and children’s charities like the Jon Egging Trust and MYTIME. Those three would be my top choices. What I wish I’d known about money… We’ve been thrifty from the beginning and grew up learning about money – knowing that once it’s gone, it’s gone. Then you’ve got to wait for the next bit to come in, and you’ve got to work hard to earn it. Knowing that from the off has been a real plus for us.

The secret of financial wellbeing is… Getting to a place where you’re happy with your pay cheque and not yearning for stuff you can’t afford. Being really happy with the money that comes in each month and being able to pay for the things that make your life worth living.

I most resent spending money on… Parking tickets and the occasional speeding fine. I guess taxes are a pain in the arse, but that’s how countries have to run, so that’s fair. But parking tickets and speeding fines suck.

You can’t put a price on… Quality, quality iced coffee… Just joking! You can’t put a price on spending time with friends and family – that’s my thing, and I love it.