What was the biggest money lesson you learned as an adult?
I always felt too busy at the start of my entrepreneurial journey to closely monitor spending – I was already wearing so many hats. Also, the shop was busy and money was coming in, so it was all good, right? Learning to balance the books regularly has helped me gain perspective on where to spend and when to back off.
Would you rather receive a large amount of money at once or a smaller amount of money on a regular basis for the rest of your life?
Big sum at once. Just think of the investment opportunities.
What’s the biggest misconception people have about growing money?
That entrepreneurs must have risky tendencies. Yuck – who wants something high risk in life? Franchising is an established business with a recognizable brand name and a proven business model and strategy. It’s an intelligent risk.
Can you share a money regret?
I’m not one to regret things. The obstacle is often the way and at least an education. Never let the fear of regret hold you back.
What does the word do “value” mean to you?
Anything you value deeply that isn’t necessarily monetary or even quantifiable. I really don’t mind paying for experience. Particularly high-quality chocolate – I will always rely on that.
What was the first major purchase you made as an adult?
my first house I was 26 years old. A few years later I sold it for what seemed at the time a healthy profit and I started renting, which felt liberating to me when I started my business. But when I finally got back on the market half a decade later, the housing market had moved significantly, reducing my purchasing power. Maybe there’s a little regret there.
What do you think of debt?
Debt is a tool. That means you are in control, not the other way around. If it’s an asset that appreciates in value or enables you to make a better living, then it’s worth it, but running up debt on consumer goods to impress other people who probably couldn’t care less – why?
What was the last book about money you read?
The wealthy franchisee. I actually read it a couple of times. I love it. It is so relatable and an absolute must for any franchisee or anyone thinking of becoming a franchisee.