Catherine Hawkes, 41, a Briton based in the UAE, learnt a strong work ethic from her family while growing up. She has always worked hard for her money and attributes her career growth to a mix of luck, hard work and passion.
After training at the London College of Fashion in 2002, Ms Hawkes worked as a hairstylist at different salons in London. She bought her own salon in 2005 before moving to Dubai in 2013.
“I call myself the managing artistic director. I own Salon 971, and my key duties are to manage the salon and work as a stylist in it. I am also part of the artistic regional team for Schwarzkopf,” says Ms Hawkes.
She lives in Dubai’s Layan Community with her husband, their two-and-half-year-old son, a dog, cat and seven tortoises. She also has a 21-year-old daughter at university in the UK and a son, 16, set to join the Royal Marines in the UK.
Did wealth feature in your childhood? What did you learn from it?
I come from a working-class family who were originally farmers. Generations later, my grandad started a meat factory in London and the business grew to become very successful.
Both my parents grew up with money, made by their parents' hard work and business acumen. Although I was lucky enough to attend a private school and had the privilege of extra-curricular activities and going on nice holidays, having a strong work ethic is extremely valued in my family.
I was desperate to become a hairdresser from a very young age and begged my family to allow me to start a job as a Saturday girl in a hair salon at age 12. My family always held me accountable and ensured I followed through on my commitments. There were times when I didn’t feel like working but was made to go in, to not let down the business.
When I was 15 years old, my father had me work for one of his friends, who owned a pub. I worked there every Sunday and stayed for the next few years.
I have always worked hard for my money. Although my family instilled a strong work ethic, I never had any restrictions on what I spent my money on.
How did you first earn? What did your first job pay?
My first job was in a hair salon when I was 12 years old. I got paid £15 ($19.4) for the day.
Any early financial jolts?
I am a risk-taker. I would decide what I wanted to do and work out how many haircuts a week I would need to pay for my expenses.
My first financial jolt was when I was 18 years old. There were some brand new apartments being built in Fulham – a very nice part of London. I decided that I wanted this to be my first home.
I rented a one-bedroom apartment for £1,500. I was still in college at the time and worked hard to save the money for rent. This was against my parents’ wishes. However, they are strong believers that you will learn from your mistakes – I was also extremely headstrong.
I managed to pay the first four months, but I could barely afford to eat. Then for month five, I had to pawn a ring my father got me to pay the rent.
I was at college in the day and working in a pub every night, while also working at a hair salon every Saturday and Sunday. This ended abruptly when my car got towed and I had to call my father to bail me out. This was certainly a lesson learnt.
How do you grow your wealth?
I think to grow, you have to be ready to take the hits. By taking risks to make money, there are times when it doesn’t work out.
I’m not a calculated risk-taker, so a lot of luck, hard work and passion are involved in my growth.
Are you a spender or a saver?
That’s easy, I’m a huge spender. I want to be a saver, but I like to live for the now and enjoy experiences.
Plus, for most of my adult life, I have been a parent, so I’ve spent a lot on my children’s education and extra-curricular activities, holidays and experiences.
Have you been wise with money?
Yes, I would say I have as I’ve invested in my children.
What has been your best investment?
My children’s education.
Any cherished purchases?
Honestly, it’s the little quirky things for me that mean so much. I bought a dress from a little vintage store on Hollywood Boulevard about 15 years ago and I still have it because I love it.
Then I bought a dining-room table and chairs from Harrods about 20 years ago that has travelled with me to Dubai. It desperately needs reupholstering and sanding down, but again, I love it. It follows me to wherever we’ve moved, it makes my house feel like home.
How do you feel about money?
Money and I have had a turbulent time together. But when you love what you do, and you believe, then money will come.
I don’t believe money brings you happiness, but if you are happy, money can make you happier. It enables you to be able to afford the things you want to do and achieve in life.
Any financial advice for your younger self?
Don’t live above your means and don’t compare yourself to others.
Money and I have had a turbulent time together. But when you love what you do, then money will come
Catherine Hawkes,
founder, Salon 971
What luxuries are important to you?
When I’ve struggled in the past, my goal has been to afford a takeaway Costa. But I am a foodie and love going out for dinner, that’s a luxury for me.
Also, I’m lucky to be in the beauty industry so I do get my hair and nails done for free.
However, if I’m away, I always love going to get a blow dry or a massage somewhere. I feel that’s one of life’s luxuries that makes me feel good and confident about myself.
What are your financial goals?
Now having two children in college, we’re at the end of that investment. We have one more to put through education, so I want to work on saving. I want to expand my business and invest in property.
THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
SHAITTAN
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Common%20symptoms%20of%20MS
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Killing of Qassem Suleimani
About Krews
Founder: Ahmed Al Qubaisi
Based: Abu Dhabi
Founded: January 2019
Number of employees: 10
Sector: Technology/Social media
Funding to date: Estimated $300,000 from Hub71 in-kind support
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
What is an ETF?
An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.
There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.
The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.
There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.
While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash.
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RESULTS
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
