I was a skint ex-teacher and living with my mum at 32 – a decade on I run a £3m a year business
WHEN single mum Elizabeth McQuillan was forced to move back in with her parents at the age of 32 after a break-up, initially she was devastated.
She'd gone from having a comfortable life and owning a house with her ex-partner, to suddenly being unable to pay the bills, and had made the difficult decision to move home.
Over the next ten months, Liz, now 40, shared a small spare room and bed with her two-year-old daughter Ruby as she scrimped and saved every penny she earned as a teacher to get enough for a house deposit.
Fast forward eight years, and incredibly not only did Liz buy her own property, but now runs a million pound business, having co-founded her own successful female-friendly car finance company.
Liz, who lives in Lancashire with her business partner and former car dealer husband Phil, 45, their daughter Loretta, two, Ruby, 12, and her two stepchildren, aged 13 and 16, says: "I've worked so hard, so it's nice to be able to afford little luxuries now, like nice holidays and cars.
"To lose everything and have to move back home in my thirties was a really humbling experience, and I'm so glad for it as it makes me appreciate everything I have now so much more."
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A strong work ethic
Growing up, Liz had a modest upbringing in a deprived town with her childminder mum and roof tiler dad working hard to provide for their three kids.
Liz says: "We didn't have a lot, and me and my sister shared a room until I was 17.
"However my mum especially instilled into me a strong work ethic, and she taught me if you wanted something you had to work hard for it.
"If we needed anything, she would work extra hours to be able to afford it, so I knew that's what I needed to do if I wanted to afford nice things."
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''I'd always been good with money'
After getting a degree in the performing arts at university, Liz went on to become an English and drama teacher.
She says: "I was probably on around £22k when I first graduated.
"It wasn't loads but I still thought it was a good career - it was safe, and secure which meant I was able to get on the property ladder at the age of 22 with an ex.
"While we did split, I'd always been quite good with money and saving - which is why it was such a shock when everything later fell apart."
'It was a huge shock'
Despite always being careful with money, when her relationship of three years with the father of her then-baby daughter broke down in 2015 at the age of 32, Liz was faced with an agonising decision.
She says: "We'd had a great life. I was still working as a teacher, we were engaged, had a house together, and our daughter was two at the time.
"It was a huge shock when our relationship ended and it was devastating.
"I went from being able to afford a few luxuries to suddenly I couldn't afford to pay the mortgage and bills on our family home on my own.
"I didn't know what to do. I didn't want to feel like I was taking a step back in life and move home, but I also knew I needed to look at the bigger picture.
'We lived off the bare minimum'
It was then Liz decided to move back into her mum's spare room.
Liz says: "It was very humbling experience, and a shock to the system but an experience I'm so grateful for now.
"We lived off the bare minimum and I moved back into my mum's spare room.
"I shared a bed with my daughter while I scraped together enough money for a deposit to buy our own home.
"It was a sacrifice but I knew it would be worth it.
"Up until then I'd worked hard and I'd had a nice life, but I realised I'd also been reliant on someone else for financial stability and I vowed never to let that happen again.
"I turned my pain into power, and decided I would prove I could make something of myself on my own."
Financial security
Over the next ten months, Liz and Ruby lived with her parents while Liz squirrelled away £1,500 a month to get enough to buy a £280k house.
She met her now-husband Phil in 2016, but was still determined to buy her own house independently - and she achieved this the same year.
She says: "I wanted to buy my own house, so that we would never need to worry about security again - it would be my safety net that I would own, completely on my own.
"It was a good financial move as it's now worth around £350k, and I worked six days a week to save up."
A career in car finance
Back on her feet, in 2019, Phil and Liz then went into business together and set up , after Liz realised there was a gap in the market for a female-friendly car finance company.
She says: "My husband had a car dealership but I had no experience when it came to cars so it's been an unexpected career!
"I'd had a few bad experiences and I realised I was one of probably millions of women who feel taken advantage of in a male-dominated industry.
"I want women to feel empowered by the experience, not embarrassed - we demystify all the jargon and empower that client to make that financial decision without having to ask their husband or dad for advice.
"I want women to know exactly where they stand, and what their options are when buying a car on finance, and feel it's them that have made the decision."
£3m a year
It's a move that's really paid off for Liz.
She says: "We're set to turn over £3m this year, and of course it's nice to be able to enjoy the luxuries that come from running a successful business.
"I'd always wanted to be happy and have a family above everything, but then it had always been my dream to drive a white Porsche for example and I now finally do!
"I also have the Rolex, we're lucky enough to own multiple houses and were able to fly to the Maldives recently for my 40th birthday.
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"I've worked so hard to get to where I am, and feel incredibly lucky to have achieved what I have.
"I'm also glad I had to move back home, as it's made me appreciate everything even more."
