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The entrepreneur shares her financial heroes and the money moves she wishes she’d made sooner—and one mistake she wishes she hadn’t.
Mallory Greene is modernizing the funeral industry. Greene is the co-founder and CEO of Eirene, which offers end-of-life services—including cremation arrangement and funeral planning—that families can set up online or by phone, 24/7. Greene, who is based in Toronto, is no stranger to the business. Her father is a funeral director, and conversations about death were common in their family home. At Eirene, Greene and her team prioritize compassion, sustainability and affordability. (Eirene is currently available in Alberta, Saskatchewan, Ontario and Nova Scotia.) In 2022, Greene was included in Forbes’ 30 Under 30, a list of entrepreneurs and innovators. We invited her to share her thoughts on money, value and enjoying life.
I love Warren Buffett. I don’t geek out on financial markets, but he’s practical with his money and has had great success with patience and focus. He’s created generational wealth with simple investment principles, and I love his commitment to giving back.
A lot of my free time has been reallocated to building my business, but when I’m not working, I’m travelling or with my family and friends. I’m a total foodie, so my free time usually involves trying out a new restaurant.
I’d start a foundation focused on improving the lives of women around the world. There’s also always room for more travel in my life!
I appreciate how much attention my mom gave towards my parents’ household finances, and I admire how much she educated herself—something that I think is so important for women to do. It set me up to ensure that when I enter a marriage, I am equally involved in financial decisions that contribute towards our future.
The first significant purchase was probably a mattress and bed frame for my first apartment downtown. It was my first taste of how expensive it is to furnish a home.
My first job was one shift at La Senza, when I was 15. At the end of my shift, they told me they couldn’t enter me into the system because I was too young to work there! Shortly after, I got a job at Shoppers Drug Mart.
As soon as I got my first credit card, I should’ve been monitoring my credit score and credit utilization. While no decisions I made early on have impacted me greatly, I definitely could have educated myself sooner.
Building wealth through investments requires time. There’s no get-rich-quick scheme—it’s just patience with a long-term horizon.
While not necessarily bad money advice, I think there’s too much of a focus on buying a home as a way to demonstrate financial stability or success. The rent-vs.-buy conversation is exhausting, and in today’s climate, it puts a lot of unnecessary pressure on younger generations. Decide what’s right for you and your finances.
Large sum of money for sure. You could deposit a bunch in an automated portfolio, and then start to invest in projects and businesses that make your wealth grow further.
Prioritize your quality of life just as much as your investments. We have one life to live, and you should craft a life that you can enjoy. Whether that’s allowing yourself a daily latte at your local coffee shop or saving to take your family to Italy, make sure you enjoy the money you earn.
That it’s complicated. Automate your investments and remain consistent, and you will see your wealth grow over time.
I used to spend my work bonuses like I was on the Forbes billionaire list! I gained a lot of experiences out of that, which I’m grateful for, but I could’ve set some money aside for the future, too.
I’m very focused on how my time is spent. I put a value to my time and then compare it to hiring someone else to help me with that task, especially if it’s not something I particularly enjoy doing. I also look at value in terms of time saved. So, for example, I’ll pay $20 extra to get an assigned parking spot at the airport, so I don’t waste my time going up and down the rows. These small decisions provide great value to me.
Probably my car. I spent a lot of time researching brands, safety and overall ratings. And then, of course, there was the dreadful process of going to the dealerships to negotiate.
I find a lot of conversation around debt based on shame, which I don’t think is the right approach to helping to empower people. Most Canadians have debt, yet it’s so vilified. There is debt that can contribute towards improving your financial future, and it can be leveraged in smart ways.
I recently purchased a Rosso Levanto marble table from an estate sale. It’s 500 pounds of Italian marble. The price was very reasonable, considering the cost of furniture nowadays, and I love having unique pieces in my home that nobody else has.
I Will Teach You to Be Rich by Ramit Sethi (Workman Publishing, 2019). It’s one of the best personal finance books available. It’s practical, and it provides great action items to get your finances in order, yet still enjoy life while you’re at it.
I have a tiny wallet and it’s practically empty. Most cards are on my phone.
I have some beautiful vintage designer clothing that I’ve collected over the years. I like to save it for special occasions.
I plan my personal life in five-year increments, and I would love to build my dream home in that time.
Rent until I build my dream house!
Lease. I view cars as a luxury, not an investment. I love being able to switch what cars I’m driving every few years.
Save an emergency fund, then automate your investments.
I like the less traditional ways of budgeting. My favourite is Ramit Sethi’s Conscious Spending Plan. He breaks down your fixed costs, investments and savings, and then what’s left is what he calls “guilt-free spending money.” I like stress- and shame-free approaches to budgeting!
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