Elaine Luck is the general manager and co-owner of the Dubai women’s gym Pure Fitness, which offers classes tailored for women, including mother-and-baby sessions. The 41-year-old from Scotland has lived in UAE for seven years.
Describe your financial journey so far
Having grown up with an accountant for a father, finances were always on the agenda. I remember being at university and my father ringing to ask, “how are your finances?” I was brought up to believe that you should work hard and never need handouts, as there was always a job you could do – even cleaning toilets if need be (as I did one summer when home from university). I met my husband in my early 20s. He was already in the finance business and has probably kept me on the personal financial straight and narrow. He keeps asking when will he be able to retire. I have changed careers along the way, going from working for a financial organisation in HR to being a stay-at-home mum to being a freelance fitness instructor to co-owning my own company.
Are you a spender or saver?
Unfortunately I’m a spender, but my husband is the saver. Although we share household costs and he looks after the important finances, we each have pocket money, as we spend in very different manners – it avoids any stress. Owning my own business has led to me being more responsible with regards to company finances; although we have an amazing accountant who keeps us in check, there is not only my business partner, Catherine, to think about but the three ladies who work for us part time, and of course the company’s expenses such as licensing, marketing, PR and fitness equipment.
What is your philosophy towards money?
Enjoy it, as long as you’re working hard for what you earn. Life is short so yes, prepare for the unexpected. Think about later in life, give to those who have less, but in this world anything could happen so enjoy what you have when you have it.
Have you made any financial mistakes along the way?
We moved back to the United Kingdom for four years, having lived in Kuwait for five, before moving here. If we had come directly here from Kuwait we definitely would have been better off financially, but then our family would have missed out on the experiences of living in the UK near family. We did buy a house in Dubai in the peak times and then watched it lose two-thirds of its value, which was hard, but we seem to be back where we started now.
If you won Dh1 million, what would you do with it?
A wee bit of everything – a fabulous meal with my husband and an amazing European skiing holiday for my family. Lots of new equipment for Pure Fitness, a night out for Catherine and the girls who work for us, donations to children’s, women’s and dementia charities, and also a trip to help a charity build schools and shelters in needy areas. I’d buy a fabulous handbag with anything left over.
What has been your best investment?
Retraining to work in an industry that I love. I knew instantly it was where I was meant to be, and I wouldn’t have my own company had I not moved out of my comfort zone.
What do you like spending your money on?
I’m not particularly materialistic, so designer items don’t interest me. I like what I like as opposed to who made it. My pride and joy is my Wrangler soft-top Jeep that my husband bought me for my 40th birthday.
lbarnard@thenational.ae
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