Kim McKenzie-Doyle founded The B!G Idea, a free, multi-award-winning creative thinking education programme for 15-19-year-olds that teaches adaptability, collaboration, critical thinking and creative problem-solving.
Are you a saver or a spender?
With a work hat on I am a saver, and when I take that off, I am a spender, especially for others. In recent years I have been saving monthly for activities with my girls, for special moments, as they are growing up way too fast. I have become savvier with my personal finances over recent years.
Do you shop around for better value?
Most definitely. I make most purchases online as I don’t often get time to shop with my unbalanced schedule, so I do my research and have saved considerably at times. I have also been caught on occasion with additional tax or shipping costs, which can be frustrating.
What has been your most extravagant purchase and how much did it cost?
My current EV. It was a little over budget but the financial/climate impact has made the investment worthwhile.
What purchase have you made that you consider the best value for money?
The many experiences I have had with family by far. At Easter, we had an incredible girls’ getaway and a rare experience of a behind-the-scenes tour of Fota Island Zoo in Cork. It was worth every cent to see the girls’ faces as they lit up while feeding all the animals, especially a partially blind penguin that got an overdose of sardines.
Do you haggle over prices?
I love it. It’s banter. One of the many things I love about Ireland is the comeback when you haggle. I will continue to chance arms and legs at every opportunity. It’s satisfying to mortify my husband, friends and kids.
How did the Covid-19 crisis change your spending habits?
I was a comfort buyer during Covid-19 for a time and that came to a head with a very stupid late-night purchase of an integrated double deckchair with a sun lounger and umbrella that could be rolled up for holidays. It was a ridiculous buy that served as a “cop on” moment as we had to cancel our holidays.
Do you invest in shares?
I have sweat equity and made a small cash investment in a tech start-up I worked with well before I started my own company. I believe you should not invest what you can’t afford to lose, so my expectation is low on a result with the tech company, but I am hopeful.
Do you have a retirement or pension plan?
I have a pension plan that I paused to start the B!G Idea. I had no salary in the early days, and it has taken a while to establish a half-decent wage that reflects my efforts. This is a timely reminder to get it restarted.
What was the last thing you bought and was it good value for money?
I have just bought new blue light glasses for €50 including shipping; my last pair lasted three years so I believe that’s great value for money. I work very long hours on my laptop, so investing in something like blue light glasses is a must.
Have you ever successfully saved up for a relatively big purchase?
I was so proud of myself when I bought my first car, a Peugeot 306 in 2000, for €1,200. I saved for a long time and thought it was huge money. Unfortunately, it was an absolute lemon and only lasted one year. I was devastated.
Have you ever lost money?
Yes, I have and it’s an awful feeling. I had three jobs through college and was paid fortnightly in little brown envelopes. My highest-paying job was three nights in a local nightclub and walking home it must have fallen out of my pocket. Again, I was devastated.
Are you a gambler and, if so, have you ever had a big win?
I bet what I can afford to lose, which is about €2. It’s a bit of a running joke in our house. I would do the lotto from time to time but never had a big win or a big loss. I love picking random names in the Grand National: the last three picks have come in the top three, so I might reconsider my choices.
Is money important to you?
Yes, for sure. I have learned the value of a healthy cash flow. It’s been critical in scaling my company as a nonprofit, as there is always worry about money for tomorrow. I have become much savvier from the learnings in my professional life, however, and am very transparent with the team on finances, which helps frame decisions.
How much money do you have on you now?
Surprisingly, I have €120 in very crisp notes. This is a rare event. I will do my best to keep it in my wallet for as long as possible.
In conversation with Tony Clayton-Lea
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