Randa Nasr, an Egyptian expatriate and parent relations executive at GEMS Al Khaleej International School, has been living in Dubai for nine years. At the age of 34, Nasr has been working since she was 16 and understands that her relationship with money is constantly evolving as she matures. She describes money as a necessity that plays a crucial role in fulfilling basic needs for food, shelter, and clothing. Nasr acknowledges that managing money wisely is essential and that the value of money becomes more apparent as one grows older.
Nasr reflects on her relationship with money, describing it as a love-at-first-sight experience with both positive and negative consequences. Her first job at the age of 16 marked the beginning of her financial journey, where she learned the importance of hard work and the value of money earned through personal efforts. She recalls that her first salary was harder to spend than the money given to her by her parents, highlighting her newfound understanding of financial responsibility.
When it comes to managing money, Nasr credits her mother for teaching her that individuals are in control of their financial decisions and that money should not dictate one’s happiness or misery. She also discusses speaking with her husband about money matters and how he has been instrumental in teaching her about financial management. Her husband’s insight on setting priorities has been a significant lesson in her financial journey.
As Nasr navigates her relationship with money, she shared her most profound experience at the age of 20 when her father encouraged her to start managing her finances independently. This experience taught her to make wise financial decisions and prioritize saving for the future. Living in the UAE has also influenced her perception of money, making her more confident and motivated to achieve financial stability.
Looking ahead, Nasr emphasizes the importance of hard work and valuing one’s spending habits. She prioritizes her family and personal growth when it comes to financial decisions and has a long-term goal of building a mansion for her family. Nasr saves at least 25 percent of her income each month and plans to retire at the age of 65 with a stable financial situation. Overall, her journey with money reflects a continuous learning process and a commitment to financial stability and growth.
