Make up artist Kate Goodwin has become more focused on saving and investing since setting up her own business, ILLUMIN8, in 2012.
Money aside, life is beautiful for UAE make-up artist
The make-up artist Kate Goodwin is the chief executive and founder of ILLUMIN8 Media Make-up Studio. The Briton, 34, who moved to the UAE four years ago, set up her own business in 2012 after learning to live on a low income in the early days of her career.
Describe your financial journey so far?
My mother was very careful with money and tried to instil that into me from a young age, so I have always known the value of money and have never taken it for granted. I knew that money couldn’t buy you happiness but I also learnt later on that if you’re happy in what you do, the money will follow. And it did, along with amazing opportunities. In the early days of my career, following my dream of becoming a make-up artist meant working for little money or none at all, so I got used to living on very little and just getting by. I arrived in Dubai without any savings, worked hard to establish my career and then decided to set up my business. I had never dreamt of having a business but now I wouldn’t have it any other way. It has taught me to view money very differently. The more money I make the more freedom I have, and this is what drives me now.
Are you a spender or saver?
I was never a saver before committing to my business. Being a free spirit, I always had the attitude that anything could happen tomorrow so live in the now and enjoy life to the full. Being a bit older and wiser now, my attitude has changed and I want to save and invest. I’m setting myself up for my future while the opportunities are there.
What is your philosophy towards money?
I feel very strongly in life that we must not be unhealthily attached to money. Meaning that if you hold on to money too tightly, you stop the flow of energy around it, so we should share it. I give a lot of my money to charitable causes and like to treat people I care about, and I believe that as a result of this, every year I get richer in all areas of my life, not just financially. True prosperity means more to me than just money and material things. It means what we create in our lives like good health, happiness, inner peace, love and so on. Nevertheless, money can help achieve a lot of this.
If you won Dh1 million, what would you do with it?
“Shine your light” is my complimentary workshop for women going through the effects of cancer that was launched last year. I would use the money to get the message out there on a larger scale and help as many people as we can. I would also use the money to kick-start another aspect of my business. The UAE provides multiple opportunities and as my business is growing, so is the opportunity to invest in other areas. Now that I’m an entrepreneur, my mind is always looking to be challenged and to constantly learn – I love the personal growth I get from it. The rest I would use to take my mum on an amazing, life changing holiday as a little thanks for helping and supporting me over the years.
What has been your biggest financial lesson?
Growing up, I was always told there was never enough money, but my views are now very different. I learnt that there is more than enough for everybody and we can block abundance entering our lives through changing our thoughts and beliefs. Once I changed my mindset, things changed in miraculous ways. As with any business, the lessons I learnt when it came to setting up ILLUMIN8 were pretty tough. I worked solidly for years to fund, create and nurture it. I learnt how to be a businesswoman and I was challenged in so many ways, which helped me grow dramatically.
What do you enjoy spending money on?
Most of my money goes on travelling, looking after my well-being, spending time socialising with friends and loved ones, and then least of all material things. I do like having nice things but I much prefer creating memories or putting a smile on a loved one’s face with an unexpected gift or holiday.
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