How do you decide how you use your money? What triggers you to spend, save, invest or even do nothing?
For years, those questions would have left me struggling to find an answer because I hadn't set clear financial goals. I was fortunate and earned enough to allow me to coast along yet save and have some investments, but none of it was properly managed or planned.
I spent money reactively. I invested based on what someone else told me I should do and then panicked or felt guilty for not doing it myself. I felt guilty for not having goals or a plan.
As a successful finance professional, how could I not be more in charge of what I was doing with my money? It was overwhelming, so I put it off. I simply didn’t know where to start.
So, where did I start eventually?
It wasn’t initially with my money. It was with myself.
Once I’d started to figure out what I wanted to do with my life, what was important to me and focused on my life rather than just coasting along or doing what I thought I should do, the money piece suddenly felt less daunting.
Have you ever heard the Elvis Presley quote: “Values are like finger prints. Nobody’s are the same, but you leave them all over everything you do?”
The first time anyone asked me what my core values were, I was sitting like a rabbit in headlights in a life coach’s office at an age I’d rather not admit.
Aren’t being kind, generous and a good person everyone’s values? What else is there, I thought. She had to talk me through what values actually are.
One definition says: “Values are basic and fundamental beliefs that guide or motivate attitudes or actions. They help us to determine what is important to us.”
I learnt that when we live by our values, we are happier, more fulfilled and generally better humans.
It got me thinking about my choices in life, which led me to think about how I not only manage money but also my relationship with money.
Was I approaching money in line with my values?
We know money is power. It’s energy. It impacts in some way almost every decision we make every day. Doesn’t it make sense to consciously use that power to drive your life in the way you want, in line with your values and what’s important to you?
Now, when I review my credit card statement, it’s not only for accuracy and checking if I’m in line with my spending plan but also for reassurance that I am putting my money behind my goals, beliefs and values.
This is why I push against the one-shoe-fits-all approach to personal finance. Everyone's value systems are unique to them and they change over time.
When you have clear goals and believe in your reasons behind, for example, saving or investing, then you will be more motivated to put the work in, to read the books or question the financial adviser who is telling you to invest in their product
Carol Glynn,
founder, Conscious Finance Coaching
It’s crucial to know yourself, what you want to achieve, what makes you happy, what brings you joy and then use the powerful energy of money to help you live that life.
Put your money behind your values and you’ll live happily ever after, right?
It’s not quite as simple as that. It’s a large piece of the puzzle, but it’s not just about our values. It’s also important to educate ourselves on ways to manage, invest, save and earn money.
When you have clear goals and believe in your reasons behind saving or investing, for example, then you will be more motivated to put the work in, to read the books or question the financial adviser who is telling you to invest in their product.
If you don’t invest in figuring out your personal values, understanding your money mindset and setting your goals and habits in line with those values, then you are at risk of living someone else’s ambitions for your life, not your own.
Have you ever thought about whether you use your money in line with your values? If not, why not?
If someone read your bank statement or credit card, would they know what is important to you? What do you want to achieve in life? What are your life goals?
I urge you to scan your credit card statement. What feelings does it trigger in you? Have a good think about why it does that. I think you may learn a lot about yourself.
Carol Glynn is the founder of Conscious Finance Coaching
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
The%20specs
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UAE currency: the story behind the money in your pockets
SCORES IN BRIEF
New Zealand 153 and 56 for 1 in 22.4 overs at close
Pakistan 227
(Babar 62, Asad 43, Boult 4-54, De Grandhomme 2-30, Patel 2-64)
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
UAE currency: the story behind the money in your pockets
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Results:
First Test: New Zealand 30 British & Irish Lions 15
Second Test: New Zealand 21 British & Irish Lions 24
Third Test: New Zealand 15 British & Irish Lions 15
Heather, the Totality
Matthew Weiner,
Canongate
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
COMPANY%20PROFILE
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UAE Team Emirates
Valerio Conti (ITA)
Alessandro Covi (ITA)
Joe Dombrowski (USA)
Davide Formolo (ITA)
Fernando Gaviria (COL)
Sebastian Molano (COL)
Maximiliano Richeze (ARG)
Diego Ulissi (ITAS)
UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
The biog
Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.
His advice to anyone starting out in business is to have no fear as life is about taking on challenges.
“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.
"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”
Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.
He relaxes by spending time with his family at home, and enjoying his wife’s India cooking.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
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