Franciska Balc, a successful entrepreneur in Dubai, has found financial freedom and success after moving to the UAE from Hungary. She credits the country’s potential for growth as a key factor in her thriving dress rental business, which has transformed her life and outlook on money management.
Balc describes her relationship with money as an ambitious partnership, emphasizing the importance of setting goals and working towards financial stability. She learned valuable lessons from her mother, who taught her to enjoy life and not be afraid to spend money on things that bring happiness.
When it comes to financial management, Balc credits her grandparents as her main source of knowledge and guidance. She recalls both the joy of saving enough money to buy her own property and the disappointment of her failed business venture in Romania as defining experiences in her relationship with money.
Living in the UAE has allowed Balc to save more money than she could have elsewhere, highlighting the country’s wealth of opportunities for financial growth. She advises younger individuals to prioritize financial independence and savings, stressing the importance of being in control of one’s finances.
Balc values spending money on her children’s education, family travel, and experiences, prioritizing long-term financial planning and investments. Her ultimate goal is to have a sustainable, global business that provides her with the freedom to work from any location.
With a monthly savings goal of Dh10,000 and plans to accumulate properties and assets worth more than Dh10 million by the age of 65, Balc is focused on building wealth and securing her financial future. Her biggest financial decision was buying an Airbnb apartment, while her greatest regret was her failed wedding dress shop business in Romania.
In conclusion, Franciska Balc’s journey as an entrepreneur in the UAE serves as a testament to the country’s potential for growth and financial success. By prioritizing financial independence, planning for the long term, and seizing opportunities, she has been able to build a thriving business and secure her financial future. Her experiences serve as valuable lessons for young individuals looking to achieve financial freedom and success.
