My Money: ‘To make more money, reduce your expenses instead of working more hours’

Sligo musician Ted Kelly is a founding member of the alternative folk band Moxie. He plays the banjo and the tenor guitar. Moxie has just released her new album The Dawn of Motion. The band have several shows this month including Chestnut Bar in Offaly on September 17, Monroe’s in Galway on September 21 and Andersons Live in Sligo on September 26. To learn more about the band and to book tickets for their upcoming shows, visit www.moxiemuso.com.

What is the most important lesson about money that your career as a musician has taught you?

If you keep your passion alive and believe in your assets, it will pay off.

What has the coronavirus crisis taught you about money?

That you can save more money than you think when the pubs are closed. I’m glad they’re back though!

Your favorite song about money?

Probably Abba’s money, money, money. It’s such a catchy song, it always makes me dance!

What is the most expensive country you have visited?

Swiss. Surely a hamburger and fries at McDonald’s is around €30. Although it is a beautiful country.

What is the most you have ever spent on musical equipment?

Three years ago I bought a custom electric tenor banjo for about €4000, it was well worth it.

What is your favorite Irish currency?

Definitely the old clearance. The decorations are very artistic and I also love the red deer.

What is the most expensive thing you have bought?

Probably my new Macbook Pro. I bought it recently because I needed a more powerful laptop to keep up with heavy software. This one is very fast and fully equipped for video editing and music production.

What was your worst job?

I once worked as a dishwasher in a restaurant. It was not an easy job. I was 16 years old at the time and all I wanted to do was play soccer and music.

What was your biggest financial mistake?

I probably buy too many shoes that don’t fit me.

What was your best financial kill?

I’m not sure… I’d say I got paid after a long tour I did with Moxie.

Are you better than your parents?

Definitely not at the moment, although I’m not too bad. The pandemic really affected our livelihood as we depend on touring income. However, little by little we are getting back to normal and it is very exciting.

If you won the Euromillions, what would you do with the money?

First, I would buy property and build a recording studio with the best recording or mixing equipment for the band to work on and record our next album together. I’d put a good chunk of the money in the bank for a rainy day, and I’d definitely contribute to some charity.

What is the best advice you’ve ever received about money?

My father often told me “you can make more money by reducing your expenses and it is less time consuming than working long hours”. wise words.

iTunes or Spotify?

I use Spotify to discover new music and listen to my old favorites. I’m also more interested in vinyl records lately.

The last thing you bought online?

A vinyl player.

Would you buy an Irish property now?

I have always been thinking of buying a house or land in Ireland. I feel like rent is dead money and I would love to have my own place one day.

What three things could you not do without if you tightened your belt?

Pizza, live concerts and yoga.

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