Money & Me: Australian in Dubai dreams of a private island

Ashley Kent is the UAE country manager for Vita Coco Coconut Water. The Australian, 27, says that he moved to the UAE four years ago on a whim and has never looked back since.

Describe your financial journey so far.

I’ve been working since I was 14, starting off as a dishy (kitchen hand) at a cafe in Byron Bay, a small coastal town in Australia. It was initially so that I could buy myself a new surf board, and it was worth every dirty dish. I think I just loved having money and the freedom to buy my own things, but then I went to Bali when I was 17 and then wanted to travel – a lot. I relocated to Dubai four years ago and have been travelling since, mostly spending my money on different adventures including Spain, Italy and Sri Lanka. I definitely haven’t saved as much money as I would have liked to, but I will be in Dubai for a few more years yet and have definitely shifted my saving patterns so that I am now planning for the future rather than just spending in the now.

Are you a spender or saver?

I’ve always been a spender and love travelling, so I end up splurging on trips to other countries. I’m not overly fussed with needing the best or newest things and would rather save this money to escape to another country. It’s important to save, and the earlier the better. I was told from a young age that you should always put aside at least 20 per cent of your earnings, and you don’t realise how much this will help you later on until you actually start planning for the future.

What is your philosophy towards money?

It used to be very much about the experience in the now rather than what is going to happen in the future. I’d be quite happy to chill on a beach, surf and lie in a hammock all day, but it would preferably be at my own house, on my own island. Over the past six months I have definitely shifted my spending patterns and am becoming more of a saver. I’ll move in a few years’ time, most probably back to Australia, and living in Sydney isn’t cheap.

Have you made any financial mistakes along the way?

I recently bought a 2001 BMW X5 – not my best moment.

If you won Dh1 million, what would you do with it?

I’d buy a house in Byron Bay, give some to charity, and charter a boat and head away on a surfing safari.

What has been your best investment?

I have a recently purchased some shares in a few different companies – let’s hope that will be it.

Do you plan for the future?

More so now than I did a year or two. How else am I going to have my own house on my own island? Dubai is essentially just a stopover for everyone, obviously for different periods of time, but I don’t think many will be in as strong a financial position as they are when they are here. I’m fortunate to have had the opportunity to live here and definitely want to make the most of it before I leave, but at the same time I would like to buy a house, retire early and continue travelling the world, so I am definitely planning financially for the future.

What do you enjoy spending money on?

I get a big kick out of spending it on an experience rather than material items. Any material items I purchase here may end up just being sold, so I’d rather have the memories and experiences that you get when you travel. Having grown up by the beach and being able to surf most days, any trip to a coast with a decent wave is definitely a big plus. However, I’m generally happy to spend anywhere with surf and palm trees, socialising and all of the activities that Dubai has to offer such as wakeboarding.

dalsaadi@thenational.ae

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