Money & Me: ‘I like to live for the now and enjoy experiences’

Catherine Hawkes, 41, a Briton based in the UAE, learnt a strong work ethic from her family while growing up. She has always worked hard for her money and attributes her career growth to a mix of luck, hard work and passion. After training at the London College of Fashion in 2002, Ms Hawkes worked as a hairstylist at different salons in London. She bought her own salon in 2005 before moving to Dubai in 2013. “I call myself the managing artistic director. I own Salon 971 , and my key duties are to manage the salon and work as a stylist in it. I am also part of the artistic regional team for Schwarzkopf,” says Ms Hawkes. She lives in Dubai’s Layan Community with her husband, their two-and-half-year-old son, a dog, cat and seven tortoises. She also has a 21-year-old daughter at university in the UK and a son, 16, set to join the Royal Marines in the UK . I come from a working-class family who were originally farmers. Generations later, my grandad started a meat factory in London and the business grew to become very successful. Both my parents grew up with money, made by their parents' hard work and business acumen. Although I was lucky enough to attend a private school and had the privilege of extra-curricular activities and going on nice holidays, having a strong work ethic is extremely valued in my family. I was desperate to become a hairdresser from a very young age and begged my family to allow me to start a job as a Saturday girl in a hair salon at age 12. My family always held me accountable and ensured I followed through on my commitments. There were times when I didn’t feel like working but was made to go in, to not let down the business. When I was 15 years old, my father had me work for one of his friends, who owned a pub. I worked there every Sunday and stayed for the next few years. I have always worked hard for my money. Although my family instilled a strong work ethic, I never had any restrictions on what I spent my money on . My first job was in a hair salon when I was 12 years old. I got paid £15 ($19.4) for the day. I am a risk-taker. I would decide what I wanted to do and work out how many haircuts a week I would need to pay for my expenses. My first financial jolt was when I was 18 years old. There were some brand new apartments being built in Fulham – a very nice part of London. I decided that I wanted this to be my first home. I rented a one-bedroom apartment for £1,500. I was still in college at the time and worked hard to save the money for rent . This was against my parents’ wishes. However, they are strong believers that you will learn from your mistakes – I was also extremely headstrong. I managed to pay the first four months, but I could barely afford to eat. Then for month five, I had to pawn a ring my father got me to pay the rent. I was at college in the day and working in a pub every night, while also working at a hair salon every Saturday and Sunday. This ended abruptly when my car got towed and I had to call my father to bail me out. This was certainly a lesson learnt. I think to grow, you have to be ready to take the hits. By taking risks to make money , there are times when it doesn’t work out. I’m not a calculated risk-taker, so a lot of luck, hard work and passion are involved in my growth. That’s easy, I’m a huge spender. I want to be a saver, but I like to live for the now and enjoy experiences. Plus, for most of my adult life, I have been a parent, so I’ve spent a lot on my children’s education and extra-curricular activities, holidays and experiences. Yes, I would say I have as I’ve invested in my children . My children’s education. Honestly, it’s the little quirky things for me that mean so much. I bought a dress from a little vintage store on Hollywood Boulevard about 15 years ago and I still have it because I love it. Then I bought a dining-room table and chairs from Harrods about 20 years ago that has travelled with me to Dubai. It desperately needs reupholstering and sanding down, but again, I love it. It follows me to wherever we’ve moved, it makes my house feel like home. Money and I have had a turbulent time together. But when you love what you do, and you believe, then money will come. I don’t believe money brings you happiness, but if you are happy, money can make you happier. It enables you to be able to afford the things you want to do and achieve in life. Don’t live above your means and don’t compare yourself to others. When I’ve struggled in the past, my goal has been to afford a takeaway Costa. But I am a foodie and love going out for dinner, that’s a luxury for me. Also, I’m lucky to be in the beauty industry so I do get my hair and nails done for free. However, if I’m away, I always love going to get a blow dry or a massage somewhere. I feel that’s one of life’s luxuries that makes me feel good and confident about myself. Now having two children in college, we’re at the end of that investment. We have one more to put through education, so I want to work on saving. I want to expand my business and invest in property .

Money & Me: ‘I like to live for the now and enjoy experiences’

Catherine Hawkes, founder of Salon 971, says her best investment is her children’s education