Mary McKenna, who helms Tour America and The Travel Suite, has seen her company earn the distinguished Deloitte’s Best Managed Company Award on thirteen successive occasions. She’s someone who prioritises saving over spending, a habit she developed from a younger age – she lost her employment at the age of 22 and had no financial cushion to fall back on. Since then, whenever her salary increased, she would save the extra income.
Like the majority of us, McKenna values a good bargain, although not at the expense of excellent customer service. She does her homework before making a purchase and demonstrates a willingness to pay a tad more if superior service is on offer. McKenna also attempts to patronise Irish firms, particularly those in her local area.
One of the most lavish purchases she remembers was a painting by her hockey teammate, also a painter, back in 1994. The piece of art set her back €250, which she spent a year paying off, but it now proudly adorns her home.
On the other hand, she considers her gym weights and other exercise equipment as the best buys she’s made. A car accident in 2004 resulted in serious back issues, leading her to use her weights every other day – in her opinion, a solid investment in herself.
In terms of shopping preferences during the Covid-19 pandemic, she mostly supported local businesses. She is not typically one to negotiate on prices; she spends time researching her prospective buys, and if the quality meets her standards, she has no problem paying what’s due.
The Covid-19 crisis impacted her spending habits significantly as she, like many others, was fighting to weather the storm and maintain her business amidst challenging times for the travel sector. She did not mention any investments in stocks.
Although I have a scant amount placed in my pension fund, I generally don’t keep a lot of physical money on me. Instead, I opt for a card and, in the rare scenarios that I require cash, I typically turn to my 15-year-old son.
The most recent purchase I made was a Fitbit, and I’ve found it to be great value for money, particularly in terms of promoting exercise and overall well-being. It has noticeably improved my overall health and sleeping habits.
I have a particular affection for real estate, and managed to save enough to buy my first property when I was just 23, and it was sold five years later. In today’s housing market, however, I dread the thought of starting from scratch because getting a mortgage seems to be an insurmountable hurdle, regardless of your savings.
Regarding the subject of loss, I did lose some money back in 2008, due to the property market.
While I do not indulge in gambling, I am not averse to taking measured risks as an entrepreneur, ensuring I undertake extensive research to back up my decisions. This philosophy of taking calculated risks bolstered by careful research and maintaining a strong moral compass, I believe, benefits most businesses.
Money, once a major part of my life, has now become far less significant. I am content with what I have and now focus much of my energy on successfully running a business and prioritising my wellbeing and that of my family’s. Ensuring we stay fit, healthy, and mentally well takes precedence.
As per current circumstances, I do not have any money in my possession.