Deirdre Young is co-founder of The Home Moment, a female-led Irish company that produces luxury, sustainable and experience-based products.
As a business owner and main bookkeeper of our company (The Home Moment), I am always thinking about projections, cash flow forecasting, and potential earnings/losses. I am optimistic yet still a realist. I don't take chances but I'm definitely not a huge worrier. Worrying doesn't give you anything but stress-induced sickness!
I do have savings and I am not an impulse buyer by any means. But I like good quality clothes, food, and experiences. I like to purchase items that will last so end up inevitably paying a little more.
If it is an impulse splurge then yes, I find it hard. I won't purchase anything important without doing a good bit of research on it. I have had clothes carts full for weeks before actually going through with the purchase!
Always have some savings in your account. Once it reaches a certain figure move it into a savings or credit union account and forget about it.
At work, I am meticulous with budgets. I will know how much a project will cost to the last cent before committing to it. In my personal life, I'm not as strict. I know my monthly outgoings and roughly how much I have to 'play with'. However, if I am going on holiday I love a good excel sheet to tally up every detail. My partner loves this!
It’s not a ‘thing’ but we went to Costa Rica some years ago and stayed in the most beautiful hidden canopy treehouses up in the cloud forest. It was not in the strict excel sheet but definitely worth it. We were surrounded by a beautiful rain forest full of monkeys and hummingbirds. I have less difficulty spending money on experiences.
Purchasing a laptop all those years ago allowed me to become self-employed so I'd have to say that was one of the most important.
I started a pension later than most because I was self-employed for most of my adult life. It is hugely important to me now.
Not starting a pension sooner. We are aggressively trying to rectify this situation with our new company The Home Moment now.