Arpita Tiwari, 35, has been working as a human resources and operations manager for a manpower services company in the UAE for five months.
The Indian, who’s been in the UAE for nearly five years, lives in Discovery Gardens, Dubai.
She’s the breadwinner in her family after her father passed away a year and a half ago.
Ms Tiwari, a computer science graduate, has two siblings and supports her mother and brother financially, while her sister works as a computer engineer in Pune, India.
Her father was a government employee and her mum is involved in social services and politics.
Ms Tiwari’s family is based in the city of Indore in Madhya Pradesh.
What is your yearly salary?
My yearly salary is around Dh220,000 ($59,904).
Why did you move to the UAE?
I have been an HR professional for the past 17 years. In India, I worked with business consulting firms such as AT Kearney, KPMG and Boston Consulting Group.
In India, I specialised in compensation and benefits, rewards and payroll and when I moved to the UAE, I started handling everything that HR covers.
I first came to the UAE in 2014. I always liked the country because of its safety and proximity to India.
I moved to Dubai in 2018 when I was working for a start-up, which had a presence in India and the UAE. I was heading their HR and operations for India and the UAE, so I used to travel here every three months.
During the Covid-19 pandemic, I lost my second job in Dubai with a jewellery retailer and was unemployed for eight months.
I upskilled myself by doing courses and certifications relevant to my skills.
I had savings to sustain myself and secured a job after eight months with a tech start-up. After a year and a half, I got a job as HR project manager with a UAE telecom company.
Did you increase your salary when you moved to the UAE?
When I moved here, I first wanted to get a foothold in the market. With time and local experience, I knew I could negotiate for a salary increase.
I found that if you don’t have UAE job experience, it’d be a struggle. My first salary here was Dh10,000 a month.
What was your first job and how much did you earn?
In 2005, I started working for an international call centre after grade 12. I was on the graveyard shift and doing my college along with it.
My salary was 8,000 Indian rupees ($96) and I was 17 years old.
How do you budget your salary?
I keep track of my major monthly expenses, such as rent, travel, utilities, food and miscellaneous stuff.
From what’s remaining, I send around 20 per cent to 30 per cent to support my family and the rest goes towards savings.
My monthly expenses account for 60 per cent to 65 per cent of my salary. I save 40 per cent of my salary every month.
I always try to leave 10 per cent of my monthly salary in my account, so that I can cope if any emergency comes up. I invest the remaining 30 per cent to 35 per cent.
Where do you invest?
I have invested in different asset classes over the years. I always try to allocate at least 200,000 rupees to 300,000 rupees every year towards fixed deposits. This was how I first started saving money in 2014.
My boyfriend is more well-versed about stock market investing, so we have invested in Bitcoin and gold stocks. During Covid and post-Covid, we made amazing returns.
I mostly invest in stocks for the long term. Sometimes, when my boyfriend suggests that we trade on a daily basis because some stocks are fluctuating, we get good returns.
In July, I purchased a three-bedroom apartment in Indore for 13 million rupees using all the profits from these investments and savings from my fixed deposits. The property is rented out and the rent covers my home loan instalment each month.
My next goal is to buy a property in the UAE in two to three years. I am saving towards it. I would love to buy a villa.
Have you ever inherited a sum of money?
I have not inherited money per se, but my grandmother gave me a lot of gold. Whenever my family had surplus money and the gold prices went down, we purchased bullion.
I remember my mum buying gold for my sister and me since we were kids. She said it would be useful when we get married.
I also buy and sell gold when the rates go up. I always try to buy gold coins so that whenever the rate goes up, I can sell them and reinvest that money elsewhere.
I have never asked my parents whether I will inherit any money in the future. We have some ancestral properties.
Do you have any debt?
I have taken a home loan in India to buy my property. I currently don’t have credit card debt at all.
I took on debt when I lost my job in 2020. Unfortunately, I overused my credit card as I was trying to stay on in the UAE. When I found a new job, I settled my card dues and closed the card.
I have stopped using credit cards since. Now, I pay for my expenses with my debit card. My experience inculcated the habit of spending within my means.
Were you taught about how to handle your finances?
No, I was never taught anything about managing my finances either in school or college.
I learnt what not to do from my parents’ errors. My mum’s overspending taught me to never go beyond our means.
She wanted society to see how perfect her life was and took on credit card debt. For instance, I remember my family buying a massive eight-bedroom villa, which was not necessary.
Seeing them struggle to pay for those expenses, and my father always stressed about finance, taught me to live within my means and never go overboard.
I learnt all about investing in stocks and cryptos from my best friend. Until I was 18, all my investments were in fixed deposits, gold and savings accounts.
Have you started saving for retirement?
I don’t know if I want to retire. I hate being idle. I want to work till the day I can.
I have a goal that by the age of 40, I want to have at least 2 million rupees to 2.5 million rupees saved so if anything happens, I should have that financial cushion to fall back on.
I also wish to own a house in the city I plan to retire in. If I do retire, at 40 or 60, I wish to settle down in Goa, so I’d like to buy a home there.
Do you have an emergency fund?
I usually have two months’ worth of salary in my bank account and that’s my emergency fund.
Do you worry about money?
Until now, I managed all expenses as I could spend all my money on myself and do whatever I wanted with it.
But the thought of getting married, having kids and spending money on their upbringing and education worries me.
I am worried whether I can manage kids’ costs along with my own plans.
Financial freedom is the thought of being able to enter a shop and buy whatever I like, without any worries
Arpita Tiwari,
HR and operations manager, Dubai
Have you regretted buying anything recently?
I bought a Louis Vuitton purse for Dh14,000 on a whim for my birthday in 2019. I had always dreamt of buying one.
But now my philosophy is that I want to buy an expensive purse if I have 10 times its worth in my bank account.
What are your best money-saving hacks?
I’m a big spender only once or twice a year. On a daily basis, I manage to save because I don’t go out much and am mostly at home.
Even on weekends, I just want to relax, so I prefer watching a nice movie on Netflix.
I order groceries in bulk every 15 days. I try to order above Dh100 to avoid paying the delivery fees. I have also subscribed to Zomato Gold and Noon Minutes to waive delivery fees on food orders.
I also prefer to buy memberships in places like beauty salons to save money.
What are your financial goals?
My short-term goal is to buy a property in Dubai within two years. I plan to live and work here for another 10 to 15 years.
My long-term goal is to buy a property and start a restaurant in Goa, so I want to save money for that purpose.
What is your idea of financial freedom?
Financial freedom is the thought of being able to enter a shop and buy whatever I like, without any worries.
For the most part, I can do it, but sometimes it affects my savings.
Just last week, I spent much more than I should have on a gift for my boyfriend’s birthday. He is very conscious about money and doesn’t like spending money on a depreciating asset.
I wanted to give him something that would retain its value, so I gave him a big diamond and gold ring.
Do you want to be featured in My Salary, a weekly column that explores how people around the world manage their earnings? Write to pf@thenationalnews.com to share your story
Killing of Qassem Suleimani
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
RESULTS
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Brief scores:
Toss: Northern Warriors, elected to field first
Bengal Tigers 130-1 (10 ov)
Roy 60 not out, Rutherford 47 not out
Northern Warriors 94-7 (10 ov)
Simmons 44; Yamin 4-4
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 3.6-litre V6
Transmission: eight-speed automatic
Power: 285bhp
Torque: 353Nm
Price: TBA
On sale: Q2, 2020
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
The Specs:
The Specs:
Engine: 2.9-litre, V6 twin-turbo
Transmission: 8-speed automatic
Power: 444bhp
Torque: 600Nm
Price: AED 356,580 incl VAT
On sale: now.
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%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204-cylinder%202-litre%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E252%20brake%20horsepower%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E352Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh146%2C700%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
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The Baghdad Clock
Shahad Al Rawi, Oneworld
UAE currency: the story behind the money in your pockets
More from Rashmee Roshan Lall
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
More Iraq election coverage:
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
UAE currency: the story behind the money in your pockets
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
More from UAE Human Development Report:
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
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.
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